IFA Announces Partnership with Asbury Automotive
Partnership vaults IFA into upper echelon of sub prime lenders nationwide
Richmond, VA – July 24, 2006 – InterActive Financial Acceptance, LLC (IFA), a wholly owned sales finance subsidiary of InterActive Financial Marketing Group, LLC (IFMG) a Richmond, Virginia based dealer lead generation company, announces a major partnership with Asbury Automotive Group, Inc. (NYSE: ABG), one of the largest automotive retail and service companies in the United States.
IFA is a national lender that specializes in purchasing retail installment contracts from dealerships nationwide. IFA is a niche lender primarily buying credit applications in the sub 500 credit score spectrum. IFA will purchase contracts from Asbury in most of the states in which they have platforms and allow back end participation depending on the model year of the vehicle.
“IFA is very excited to announce our partnership with one of the top auto groups in the country,” said IFMG Vice President Courtland Weisleder. “Asbury’s phenomenal reputation and customer service oriented philosophy meshes extremely well with IFA. The addition of Asbury Auto as preferred lender status, along with our partners Auto Nation and Group 1, vaults IFA into the upper echelon of sub prime lenders nationwide. We’re going to continue to work hard to buy the tough deals at a $99 fee that other lenders may charge up to 50 times in fees.”
“We’re proud to welcome IFA to our family of preferred lenders,” said Asbury Automotive Group Corporate F/I Director Charlie Robinson. “We expect additional deliveries and revenues from their fine operation.”
About IFA
InterActive Financial Acceptance, LLC (IFA) is a wholly owned sales finance subsidiary of InterActive Financial Marketing Group, LLC (IFMG) a Richmond, Virginia based dealer lead generation company and owner of premier marquis brands, such as, carloan.com, autoloan.com, 1-800-CAR-LOAN® and 1-800-AUTO-LOAN®, which does business with dealers nationally. Licensed to do business in 47 states, IFA finances non-prime customer leads that its parent, IFMG, provides to dealers. IFA's generous lending guidelines are not necessarily credit score driven, but more "situation" driven, to help the dealer put more of his sub-prime customers that IFMG provides on the road. IFA's lending programs, for franchised and independent dealers, are non-recourse, have no discount and in most states there is dealer participation available.
About Asbury Automotive Group
Asbury Automotive Group, Inc., headquartered in New York City, is one of the largest automobile retailers in the U.S., with 2005 revenue of approximately $5.5 billion. Built through a combination of organic growth and a series of strategic acquisitions, the Company currently operates 86 retail auto stores, encompassing 119 franchises for the sale and servicing of 33 different brands of American, European and Asian automobiles. Asbury believes that its product mix contains a higher proportion of the more desirable luxury and mid-line import brands than most public automotive retailers. The Company offers customers an extensive range of automotive products and services, including new and used vehicle sales and related financing and insurance, vehicle maintenance and repair services, replacement parts and service contracts.
For more information contact IFA at 804-225-1880 or visit www.interactivefmg.com. |