National Auto Finance Company, Inc. Introduces 48-Hour Funding Guarantee
19 October 1999
National Auto Finance Company, Inc. Introduces 48-Hour Funding Guarantee
JACKSONVILLE, Fla.--Oct. 19, 1999--48 hours or discount fees are reduced-
National Auto Finance Company, Inc. (OTC:NAFI), a leading non-prime auto finance company based in Jacksonville, Florida, recently unveiled its "48 Hour Funding Guarantee" to dealers that submit complete contract packages to the lender.
The 48-Hour Funding Guarantee promises funding of loans within 48 hours of receipt and verification by NAFI of a complete dealer contract package meeting all of NAFI's credit and collateral underwriting requirements, or NAFI will reduce the discount fee by $50.
"We already have a reputation for our quick, quality service. Now our speed is guaranteed," said Bill Magro, President and Chief Operating Officer of National Auto Finance Company, Inc. "We understand that in this industry, time truly is money. Launching this initiative demonstrates our commitment to our dealers. We come through for them, so they can come through for their customers."
The announcement comes on the heels of National Auto's transformation within the last 18 months, particularly in the technology area. The company recently initiated a revolutionary new online credit review system that allows auto dealers to receive around-the-clock loan decisions.
In partnership with Internet Credit Systems (ICS) of Irving, Texas, the system provides car franchise dealers throughout the nation with the ability to give their non-prime auto finance customers nearly instant credit approval and ultimately quick loan funding.
Through NAFI's restructuring and reorganization process, which included significant investment in technology, the non-prime auto finance company can quickly and efficiently process loans, thus speeding the application and decision process. Aiding in the process is NAFI's risk-based pricing structure, which helps consumers with less than perfect credit obtain the financing they need.
"The 48-Hour Funding Guarantee is just one of the innovations we plan to implement," said Magro. "We've invested in technology and systems that we believe will continue to allow us to introduce groundbreaking programs in auto finance."
For more information on the 48-Hour Funding Guarantee, call 904/996-2517.
National Auto Finance Company, Inc. is a specialized consumer finance company engaged in the purchase, securitization and servicing of automobile loans primarily originated by manufacturer-franchised automobile dealers for non-prime consumers. The company markets its products and services to dealers through the efforts of its direct sales force and through strategic referral and marketing alliances with financial and other institutions that have established relationships with dealers. NAFI has active contractual relationships with approximately 775 dealers in 34 states.