Future Carz Expands Buy-Here Pay-Here

    SCOTTSDALE, Ariz.--Nov. 15, 2001--Future Carz, Inc. (OTCBB:FCZI), an automobile marketing company specializing in sub-prime consumers, announced today its intent to purchase assets of Colfax Financial and its related companies, all of which are privately owned.
    Colfax Financial and its group companies operate Buy-Here Pay-Here auto dealerships located in the Tucson and Phoenix, Arizona areas. They also underwrite sub-prime auto financing for other car dealers in the region from their Scottsdale, Arizona location. Colfax Financial has been building successful automobile dealerships catering to sub-prime consumers for the past five years.
    The purchased assets approximately include 800 active vehicle contracts, an existing vehicle inventory, furniture and fixtures, and three operations. The purchase price of these assets is $4.2 million. Future Carz, Inc. will assume immediate control of the purchased assets of the associated businesses, subject to signing a Definitive Purchase Agreement.
    This transaction will effectively allow Future Carz Inc. to expand its business to include Buy-Here Pay-Here dealerships alongside its current leasing to sub-prime consumer business. Buy-Here Pay-Here dealers differ from traditional auto dealers because they offer more flexible terms such as the ability to pay in cash at the dealer, and lower, more frequent payments which make vehicles more accessible to sub-prime consumers. Future Carz, Inc. will also begin underwriting the financing of cars to sub-prime consumers through external dealers -- a first for the company.
    These new assets will provide Future Carz, Inc. with the base needed to leverage a much larger inventory and expand its operations immediately. They will also qualify the company for increased access to financial resources including lines of credit and/or equity financing. Future Carz, Inc. president, Edward C. Heisler, states, "This asset purchase from Colfax Financial and its related companies is a strong strategic move for Future Carz, Inc. It expands Future Carz' business to include Buy-Here Pay-Here dealerships along with our own unique leasing formula, both of which are directed at the growing sub-prime consumer market. We will also be underwriting sub-prime financing for Buy-Here Pay-Here dealers. There are synergies between the operations of Colfax Financial and Future Carz, Inc. and this purchase will benefit both companies greatly."

    About Future Carz, Inc.

    Future Carz, Inc. offers quality, late model automobiles to qualified individuals who do not meet traditional financing terms. The company is building a network of dealerships servicing the sub-prime credit segment of the automobile sales and leasing market.
    For further information please visit www.futurecarz.com or call Financial Public Relations at 480/444-0078.