NowAuto, Inc. Begins Marketing Blitz Against the Competition
PHOENIX, Nov. 30, 2004 -- NowAuto, Inc. has begun its marketing blitz to grab market share from its competition for NowAuto's popular no credit check auto financing. NowAuto has taken out half-page and full-page ads in popular car dealer publications. The company has launched an innovative affiliate program for car dealers that cannot get a customer approved. NowAuto has filmed two versions of a new television commercial that debuts this week on popular cable programs. The company has been aggressively marketing the online dealership http://www.nowauto.com/. NowAuto.com is marketed online with Yahoo, MSN, Google, Ask Jeeves, and other popular search engines. NowAuto was also accepted as advertiser in the 2005 Official NASCAR Preview and Press Guide.
"NowAuto is one of the first auto dealerships to offer no credit check auto financing and everyone is about to know it," said Scott Miller, CEO of NowAuto, Inc. "With proof of income, utility bill, valid driver's license, and five personal references, we can approve anyone," Miller continued. "Our sub-prime credit program is better than the competition and I intend to out-market them," said Miller.
Last week, Scott Miller, CEO/President of NowAuto, Inc. raised previous guidance for 2005. NowAuto expects to earn net income in excess of $3,000,000 or 30 cents per share in 2005. The Company is projecting revenue for fiscal 2005 of approximately $10,000,000. NowAuto anticipates filing its Form-10 to become a fully reporting company this quarter. Once fully reporting, the Company plans to move off the Pink Sheet Markets.
NowAuto has three unique and complementary sources of revenue broken down as follows:
1. Navicom, a subsidiary of NowAuto, has cutting-edge GPS technology that covers 98% of the United States, Mexico, and Canada. The unique Navicom technology assists in vehicle location and control. Navicom allows the subscriber to access the vehicle location via the Internet and monitor location, speed, and maintenance requirements. The technology also has disabling capabilities, which stop a Navicom-equipped vehicle from starting. 2. NowAuto owns used vehicle dealerships. These dealerships are targeted at buyers with sub prime credit to finance a vehicle with no credit check. Using Navicom's technology the Company can shut down the car if payments are not received. NowAuto sells its automobiles for an average of $7,000 with healthy profit margins. The new TV commercial can be viewed at http://www.nowauto.net/ by clicking the link at the top of the website. 3. NowAuto finances the vehicles it sells. Automobiles will be financed to sub prime credit borrowers at a rate of 29.99%. By the end of 2005 NowAuto expects to have $10 million in loans receiving 29.99% interest. This represents annualized finance revenue of nearly $2,400,000 after down payment. The Company expects its number of loans to more than double in 2006 through internal growth and acquisitions.