After Five Months Marketing Initiative Pays Huge Dividends for Centrix
Team Centrix Baja Adventure Proves to be Tremendous Success, Helps Add Over $32 Million in New Loans to Centrix Program
CENTENNIAL, Colo., July 29 -- After only five months, Centrix Financial, LLC's innovative incentive program, the Team Centrix Baja Adventure, has exceeded all expectations. 180 auto dealerships from across the country participated in the first round of the program, created in conjunction with adventure company Wide Open Baja. In all, dealers participating in the Baja Adventure funded nearly $69 million of loans through Centrix during the contest period, compared to $37 million prior to the contest. Participating dealers financed 4388 contracts with Centrix during the contest, a nearly 100% increase in the number of contracts they provided before the Baja Adventure contest began.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010801/LAW028LOGO-b )
"When we started the Baja program we had high hopes that it would help us introduce Centrix to an entirely new group of dealers. The results thus far have exceeded even our most optimistic expectations" said Robert E. Sutton, Chairman and CEO of Centrix Financial. "We undertook the Baja program because the teamwork and creativity needed to succeed were a perfect metaphor for how Centrix does business. Clearly, the messages we hoped to convey about our business through this program have been heard loud and clear."
Modeled on the SCORE Baja 1000, and publicly launched on January 20, 2003, the Team Centrix Baja Adventure provides key dealership personnel the opportunity to earn a trip to Baja, Mexico, where winners will pilot high- performance off-road cars, for three days, through the region's rugged terrain, pristine beaches and rustic towns. The Baja program is supported through a comprehensive marketing campaign including unique collateral, a Team Centrix website module, advertising and public relations.
"We thought finance managers were interested in more than just golfing. It seems we were right," stated Mr. Sutton.
Current Centrix dealers can enroll in the Team Centrix Baja Adventure by visiting www.centrixfinancial.com and following the links to the registration form. Once enrolled, dealers are encouraged to visit the site's leader board and track their progress throughout the promotion. Prospective Centrix dealers must contact the Centrix Representative (visit www.centrixfinancial.com for contact information) in their regions and execute a dealer agreement in order to become eligible for enrollment in the incentive program.
About Centrix Financial, LLC
Beginning operations in 1990, Denver-based Centrix Financial is a financial management and services firm focused on providing financial strategies and proven products. Seeing an opportunity to address the shortcomings present in traditional approaches to auto buyers with impaired credit, Robert E. Sutton purchased the Company in 1997. One year later, Centrix introduced a new business model designed to bring together financial institutions, auto dealers and car buyers in innovative, more secure and more efficient ways. As part of that model Centrix introduced its core product, the patent-pending Portfolio Management Program (PMP). The Company's innovative business model allows it to serve several different customer groups. For financial institutions, Centrix develops and manages portfolios of auto loans that are insured upfront on a loan-by-loan basis, providing secure and profitable financial vehicles with significantly greater flexibility than is available under the industry's standard securitization of entire portfolios. For auto dealers, Centrix provides a safe way to expand into a new and growing market with efficient access to a nationwide network of 200 retail lenders representing nearly $50 billion dollars in total assets. For borrowers, Centrix's PMP offers safe and competitive financing, in addition to a staff of professionals dedicated to helping each customer maintain ownership of their vehicle, which helps improve their overall credit situation. As of May 31, 2003, Centrix Financial has in excess of 500 employees and is managing a portfolio with a total value approaching $1 billion. Please visit the Centrix website, www.centrixfinancial.com , for more information.
Information on Centrix Financial: 1-877-236-7679 or info@centrixfinancial.com Media Inquiries: Brandon Borrman, Centrix Financial Manager, Corporate Communications (303) 225-3585 or bborrman@centrixfinancial.comPhoto: NewsCom: http://www.newscom.com/cgi-bin/prnh/20010801/LAW028LOGO-b
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, +1-888-776-6555 or +1-212-782-2840