Flex Fund Partners with Copart Inc. to ProvideFloor Planning Services

YORBA LINDA, Calif.--Flex Fund Financial Services, LLC, a leading provider of used-car inventory financing for new- and used-car dealers and salvage buyers, today announced that it has entered into an operating agreement with Fairfield, Calif.-based Copart, Inc. Copart provides vehicle suppliers with a full range of services to sell and process salvage vehicles. Copart offers virtual bidding through its VB2 technology, which enables buyers to participate in live sales over the Internet and place bids in real time. Copart operates over 130 facilities worldwide.

Through the agreement, Flex Fund will partner with Copart to offer used-car floor planning services for Copart’s customers, which include licensed dismantlers, rebuilders and used-vehicle dealers. Copart will now accept Flex Fund’s used-car floor planning at its salvage auction locations and for online purchases. To establish your VB2 credit line, go to www.flexfund.net/icopart.html.

“We’re very excited to partner with Copart,” said Cliff James, Flex Fund’s CEO. “Copart is a major market leader in the salvage vehicle industry. They meet the needs of their large customer base with a variety of services that minimize transaction time and cost. Flex Fund’s innovative inventory financing options will add value to Copart’s solutions, and improve salvage services for both suppliers and buyers.”

About Copart, Inc.

Founded in 1982, Copart provides vehicle suppliers (primary insurance companies), with a full range of services to process and sell salvage vehicles principally to licensed dismantlers, rebuilders, and used vehicle dealers. The company offers vehicle suppliers a full range of services which expedites each stage of the salvage vehicle sale process and minimizes administrative and processing costs. The company is listed on the NASDAQ under the symbol CPRT.

About Flex Fund

Flex Fund Financial Services, LLC, provides used-car inventory financing (floor planning) to used and new-car dealers, and salvage buyers. The company has established relationships with key industry leaders, offering customers access to a broad selection of inventory with innovative financing options to meet their needs. Headquartered in Orange County, Calif., with operations in Minneapolis, Flex Fund is led by a senior management team with more than 150 years of automotive industry experience. To learn more, visit Flex Fund online at: www.flexfund.net.