Notifications & Messages

Jared Hamilton
From: Jared Hamilton
Hey - It’s time to join the thousands of other dealer professionals on DrivingSales. Create an account so you can get full access to the articles, discussions and people that are shaping the future of the automotive industry.
×
Industry Press Releases

Industry Press Releases Industry Press Releases

Exclusive Blog Posts

Design: The Driving Factor Behind Showroom Sales

Design: The Driving Factor Behind Showroom Sales

Many factors go into creating a successful showroom. While often overlooked, design plays an essential role in the customer experience and overall success …

5 Reasons You Should Seek Out Consumer Generated Content

5 Reasons You Should Seek Out Consumer Generated Content

It may seem like a good idea to always be the one writing about your dealership, but in reality consumer-generated content is as important, if not more so,…

DealerRater Reviews now Available on Cars.com

DealerRater Reviews now Available on Cars.com

DealerRater pushed a press release today that they have pushed reviews to the Cars.com Platform. According to the press release, this is about three millio…

Why Should You Attend NADA 2017

Why Should You Attend NADA 2017

As you investigate the possibility of attending NADA in New Orleans this year, you might be questioning the benefits of attending. It’s possible that…

The Most Wonderful Time of Year for Luxury

The Most Wonderful Time of Year for Luxury

It’s that time of year again: lights line the houses, the air is brisk, and luxury manufacturers are trying to make sure their vehicles are the best …

CarFinance Capital Completes $238 Million Asset-Backed Securitization

IRVINE, CA June 5, 2013 – CarFinance Capital LLC, a leading auto-finance provider, today announced that it has completed its inaugural rated asset-backed securitization of $238 million of Notes in a transaction that closed on May 30, 2013.  The Offered Notes were assigned ratings by Moody’s Investor Services, Inc. and Kroll Bond Rating Agency, Inc. from an A3/AA to a Ba3/BB rating, respectively.  Credit Suisse and Deutsche Bank Securities were joint book-runners for the transaction.  

In March 2013, CarFinance Capital announced that it had renewed and increased its warehouse credit facility to $300 million.  The increased credit line was also provided by Credit Suisse and Deutsche Bank Securities. 

“Today, credit-challenged consumers account for over 43% of auto loans.* These are consumers who need cars to get to work and to take their kids to school, and our mission is to help them get financed,” said CarFinance Capital Founder, President and CEO Jim Landy.  “We are very pleased with the overwhelming and broad interest in our first rated securitization, which we believe reflects the strength of our business, management team, asset quality, and capital position. This is another significant step in helping us fulfill our mission as we continue to expand our business across the United States.”

CarFinance Capital uniquely operates two origination channels, helping auto dealerships meet the growing demand in the below prime market and helping consumers, through CarFinance.com, who seek automotive financing online.  The Company has helped thousands of credit-challenged auto shoppers secure financing through its partnerships with over 2,500 franchised auto dealers in 19 states and through its direct lending site, CarFinance.com, which is active in 40 states.

 *http://www.reuters.com/article/2013/03/05/us-auto-loans-idUSBRE9240KQ20130305

 

About CarFinance Capital LLC

CarFinance Capital LLC (http://www.carfinancecapital.com) helps credit-challenged auto shoppers secure financing through partnerships with franchised auto dealers and through its direct lending site, CarFinance.com. Dedicated to premium service for all its customers, CarFinance Capital offers dealers one-on-one support; consistent, predictable credit decisions; fast funding; multiple lending options; and deal-structuring flexibility to help auto dealers meet the needs of today’s non-prime car buyer. CarFinance.com offers consumers who prefer to apply for financing, or refinancing, from the comfort and privacy of home, a quick and easy application and the ability to securely complete the entire process online, hassle-free – through approval to ‘cash-in-hand.’ CarFinance is licensed in over 44 states, serving over 80% of the country’s car purchasing population, for both its direct and indirect auto loan financing channels.  Headquartered in Irvine, California, with offices in Fort Worth, Texas, the company’s 180 employees are led by Jim Landy and a seasoned team of executives that have long histories working together in the non-prime auto market.  CarFinance Capital LLC is majority-owned by affiliated funds of the Perella Weinberg Partners Asset Based Value Strategy.    

 

About Perella Weinberg Partners Asset Based Value Strategy

Perella Weinberg Partners Asset Based Value Strategy is a leading post-financial crisis provider of U.S. specialty finance solutions.  Since inception in 2008, the Strategy has grown to manage in excess of $2.1 billion in equity capital through a number of different investment vehicles.  Perella Weinberg Partners Asset Based Value Strategy can deliver significant capital, technical expertise and infrastructure in a wide range of asset classes and structures, including both real and financial assets.  Capital for the Strategy is contributed by, among others, a diversified group of institutional investors who seek to invest in compelling opportunities at favorable valuations.  For more information on Perella Weinberg Partners Asset Based Value Strategy, please visit http://www.pwpartners.com.

 

 

CarFinance Capital Media Contacts:

Melanie Webber

mWEBB Communications

(949) 307-1723

melanie@mwebbcom.com

 

Crystal Hartwell

mWEBB Communications

(714) 987-1016

crystal@mwebbcom.com

 

 

 

 Unlock all of the community & features  Join Now