Wednesday, Jul. 25, 2007, 08:00 PM UPDATED 11:59 AMBy Nick Zulovich
FARMINGTON HILLS, Mich. — RouteOne announced this morning that Drive Financial Services, which works in the nonprime indirect auto finance industry, has joined the growing number of finance sources on its platform.
Drive Financial is a privately held company owned by Grupo Santander, which is the seventh largest global bank by profit, with a market capitalization of $115 billion and 66 million customers. The bank is headquartered in Dallas, officials said.
They went on to say that Drive Financial was established in 1995 and is one of the fastest growing companies in auto finance, with a $4 billion nonprime portfolio originated from more than 12,000 dealer partners throughout North America.
"The addition of Drive Financial as an available finance source option on RouteOne really improves our ability to provide our dealer customers a broad spectrum of credit buying," explained Mike Jurecki, RouteOne's chief executive officer.
"Our dealers have consistently demanded the availability of Drive on the RouteOne platform, and we are proud to now offer Drive Financial as a fully integrated finance source," he continued.
"Drive is interested, as we are, in providing their dealers the ability to accelerate the performance and productivity within their F&I office," Jurecki said. "We look forward to bringing our dealers the value that Drive will undoubtedly offer."
Tom Dundon, CEO of Drive Financial, added, "Drive's addition to the RouteOne platform gives us another innovative way to connect with dealers. We believe RouteOne's applications will highlight Drive's depth of credit offerings to our existing dealer partners and provide us with opportunities to expand our dealer base as well."