Wednesday, Jan. 02, 2008, 07:00 PM UPDATED 11:59 AMBy Nick Zulovich
SYRACUSE, N.Y. — XpressCredit recently announced it has partnered with two lenders to expand its options to new- and used-car dealers.
One of its new partners, Penn Acceptance Corp., provides dealerships with finance solutions for "A to D credit" customers.
Customer service is PAC's No. 1 priority, and it strives to provide excellent products, fast credit decisions and rapid funding, its executives indicated.
PAC offers financing to customers of new- and used-car dealerships; direct with credit officers; fast loan decisions by representatives with auto retail experience; and an average funding time of three business days.
"We are delighted to welcome Penn Acceptance as our newest lending partner," said Mark Louer, executive vice president of XpressCredit.
"Our goal at XpressCredit is to provide the most extensive quality lending choices to our new- and used-car dealers. And more choices mean dealers provide better service and make more sales for a healthier bottom line," he continued.
Joe Limongelli, of Penn Acceptance Corp., said, "Penn Acceptance is excited about our partnership with XpressCredit. With XpressCredit's vast dealer base and Penn Acceptance Corp.'s wide range of financing options, it's an ideal match."
Additionally, this week XpressCredit also announced that it has teamed up with Liberal Finance Service Inc. to expand finance options for used dealers in New Jersey.
Liberal Finance Service provides independent used-car dealers in New Jersey with subprime lending opportunities for their customers.
Originally founded in 1948, Liberal Finance Service is a privately held and family-owned consumer financial services lender, which specializes in subprime lending.
"We are continually seeking to expand the resources available to our valued customers. Across the country, we work to ensure dealers have access to the widest selection of reputable and knowledgeable lenders in their particular region to give them the options they need to increase sales and improve services," Louer concluded.