PRESS RELEASE - Fastlane Chooses F&I Express to incorporate VIN-Specific Vehicle Service Contract and Aftermarket Pricing in its Dealer-focused Online Car Buying Platform

Fastlane, the developer of an increasingly popular e-commerce platform for car dealers, has chosen F&I Express to provide VIN-specific vehicle service contract and aftermarket pricing. Fastlane offers dealers an Amazon-like checkout process for consumers who wish to buy their car online. Savvy dealers are gravitating toward Fastlane because of its flexibility, customizability and ease of use.

“From the car dealers’ perspective, providing accurate service contract and aftermarket pricing is imperative when offering an online buying option,” said David Luce, Fastlane’s Vice President of Sales. “Partnering with F&I Express lets car dealers using our platform incorporate F&I Express’s superior vehicle service contract and aftermarket product information into their car buying process. Having accurate VIN-specific pricing online creates a better customer experience when the consumer takes delivery of their vehicle.”

“F&I Express provides a digital connection with more than 140 automotive aftermarket product providers,” said Brian Reed, CEO of F&I Express. “Our partnership with Fastlane is enabling dealers to shift the education of F&I products forward in the car-buying process. The consumers want to have complete transparency of F&I products, so we provide the tools they need to take control of the process and drive their research.”

Fastlane’s platform enables car buyers to purchase a vehicle directly from the car dealer’s website and gives them an easy and complete checkout experience. The platform handles nearly all the tasks associated with the purchase process: Year, make, model, specifications and price information on each vehicle, warranty and service contract options, aftermarket product options, trade-in evaluations and accurate retail and lease payment information.

Dealers have been very pleased that Fastlane is much more than a cookie-cutter solution. The car-buying experience is customized to meet each dealer’s unique branding, messaging and sales needs. “We built Fastlane knowing that the online car-buying process typically differs from dealer to dealer and from region to region,” said Brandon Hall, Fastlane’s CEO. “Our technical teams work closely with each dealer to determine how their online car buying experience should work. Then we configure it to their satisfaction. It’s a win-win that makes online purchasing easy for dealers and their customers. Because of our partnership with F&I Express, dealers can be assured that vehicle, service contract and aftermarket pricing information will be spot on.”

“The F&I Express team is very pleased to partner with Fastlane,” said Reed. “This new company is clearly—and quickly—going to have a significant impact on the way car dealers bring their inventory to the online car-buying world and we’re proud that Fastlane considers us to be a valuable part of their growing success.”

About Fastlane

Fastlane, with headquarters in Dallas, Texas, is a developer of innovative e-commerce and showroom technologies for automotive dealerships. Fastlane creates value for dealers by providing them with an online checkout experience and enhancing dealer’s in-store purchase experience, giving them the power to sell more cars, be more profitable and increase overall customer satisfaction. By offering Fastlane’s turnkey purchasing solution, dealers give customers a convenient way to complete the purchase transaction while the sales team focuses on engaging with customers and building long-term relationships that last well after the car is purchased.

Fastlane’s technical integration team, based in Dallas, Texas, customizes the Fastlane e-commerce platform to meet the specific and unique needs of individual dealerships and dealer groups.

For more information about Fastlane, please visit their website, www.fastlane.car and their online newsroom, www.newsline360.com/fastlane. Contact Fastlane at sales@fastlane.car.

About F&I Express

Since 2008, F&I Express has been dedicated to leading the aftermarket industry into the digital age with innovative technology solutions. With solutions that cut costs, educate consumers, improve compliance and increase efficiency for dealers, agents, providers and lenders, F&I Express offers eRating, eContracting, eRegistering and eCancellations for aftermarket products on one platform. The Express Recoveries solution is an optimized eCancellation solution for lenders, providers and dealers to streamline the cancellation and recoveries process in an efficient and compliant manner. Express Digital Media gives digital retailers the power to educate car shoppers online with accurate and dynamic aftermarket rates and content. For more information about our innovative solutions, please visit www.fandiexpress.com or follow us on Twitter @fandiexpress.

MUSA Auto Finance becomes first non-captive automotive leasing company to offer automated decisioning

MUSA also adds pre-populated, automated documents to its proprietary portal, saving dealers from the time-consuming tasks typically associated with leasing.

DALLAS, Texas, Oct. 2, 2017 – MUSA Auto Finance, an automotive lender specializing in effortless leasing for new and pre-owned vehicles, announced today the launch of automated decisioning for leases submitted through DealerTrack, RouteOne or its online portal. This development makes MUSA the first non-captive / independent auto lender in the country to pair auto-decisioning with leasing. It also marks the final step toward achieving a completely effortless, fully automated lease for both new and used cars.

“Prior to rolling out auto-decisioning, dealers might wait up to 20 minutes for a callback. But when you’re dealing with prime customers who already know they’re approved and just want to close the deal, that’s 20 minutes too long. With MUSA auto-decisioning, they’ll get an answer within 30 seconds,” said Jeff Morgan, CEO of MUSA Auto Finance.

Morgan said MUSA’s underwriters have authority to rehash, make credit decisions and customize the callback to help a dealer over the finish line. “Our dealers can forget about waiting on hold. A couple of rings and you’ve got a live underwriter on the phone,” he said.

Once the decision has been returned, MUSA auto-populates the lease documents needed to finalize the funding package. As of this month, the following documents are automatically pre-populated for the dealer:

• Lease contract
• Credit application
• Agreement to provide insurance
• Vehicle condition report
• Funding checklist

President Richard Frunzi said MUSA completely eliminates or automates many of the challenges associated with the leasing process. “As a dealer, you don’t need to be an expert on leases to get one done with MUSA,” he said. “In fact, dealers who have never done leasing before will find our process surprisingly simple. New or used, economy or luxury – we offer effortless leases for a wide range of vehicles.”

Frunzi said his company will lease used vehicles up to seven model years old, a range that is unheard of among the few providers that offer used leasing. “With the wide variety of vehicles that fit our program, we are converting a lot of customers who were planning to purchase and end up choosing our lease instead. We can get them a lower payment and a shorter term, so they can trade up sooner and not worry about negative equity. The dealer gets repeat business faster, and the consumer saves money on a nicer vehicle. It’s no wonder leasing is skyrocketing in popularity, especially among millennials.”

MUSA is now doing business in 29 states, with representatives already on the ground in Alabama, California, Florida, Georgia, Illinois, Missouri, Texas and Washington. The company is also signing up dealers in Arizona, Arkansas, Delaware, Idaho, Indiana, Kansas, Kentucky, Michigan, Minnesota, Mississippi, Montana, Nebraska, New Jersey, New Mexico, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Utah and Virginia.

MUSA recently secured $175 million in funding capacity through a warehouse facility with Goldman Sachs and a capital investment from Crestline Investors, Inc. This funding will enable MUSA to launch its auto leasing program nationwide, as well as implement future enhancements to its online portal.

To learn more about MUSA’s effortless leasing, visit www.musaautofinance.com and click “Dealers.”

About MUSA Auto Finance

MUSA Auto Finance maintains its corporate offices in Dallas, Texas, with a servicing and collections center in Jacksonville, Fla. MUSA originates its leases from franchise and select independent dealers and will soon expand its sales force nationwide. The company expects to have marketing reps in 25 major markets and to be doing business in 48 contiguous states within the next two years. 

MUSA was founded by Jeff Morgan, who also owns Mortgages USA and Internet Auto Group. Richard Frunzi, President, former co-founder and COO of Exeter Finance Corp., joined Mr. Morgan in 2016 to create MUSA Auto Finance. MUSA’s leadership team also includes Cinde Perales, Chief Compliance Officer; Eric Estes, Chief Operations Officer; and Scott Schondau, Chief Financial Officer. For more information, visit www.musaautofinance.com.  

DALLAS, Texas, Aug. 11, 2017 – MUSA Auto Finance, an auto finance company specializing in new and pre-owned vehicle leasing, announced today the launch of its online portal, where dealers can submit applications, receive decisions and print pre-populated lease contracts. This portal automates a typically complicated process and, for the first time, enables truly effortless leasing.

“In an environment where loan terms continue to escalate, customers are being taken out of the market for far too long. That’s why I believe leasing has drawn so much attention over the past couple of years,” said Jeff Morgan, CEO of MUSA Auto Finance. “The problem is, the standard leasing process is confusing and time-consuming for dealers. It’s so difficult that many dealers don’t even want to consider doing a lease. But our automated leasing program will change that.”

Dealers simply send MUSA the customer and vehicle info, agreed-upon vehicle price, and down payment through DealerTrack, RouteOne, or the MUSA portal. Then MUSA structures the lease. With one click of a button in the proprietary dealer portal, dealers can print the completed lease agreement and other documents needed to finalize the funding package.

President Richard Frunzi shared, “When we started this company, our mission was to modernize auto leasing so dealers no longer need to worry with complicated worksheets, tedious deal structuring, and kicked contracts. Leveraging this kind of automation for leasing is unheard of in the industry today – and especially for both new and used cars.”

MUSA is now doing business in 29 states, with representatives already on the ground in Alabama, California, Florida, Georgia, Illinois, Missouri, Texas and Washington. The company is also signing up dealers in Arizona, Arkansas, Delaware, Idaho, Indiana, Kansas, Kentucky, Michigan, Minnesota, Mississippi, Montana, Nebraska, New Jersey, New Mexico, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Utah and Virginia.

MUSA recently secured $175 million in funding capacity through a warehouse facility with Goldman Sachs and a capital investment from Crestline Investors, Inc. This funding will enable MUSA to launch its auto leasing program nationwide, as well as implement future enhancements to its online portal.

To learn more about MUSA’s effortless leasing, visit www.musaautofinance.com and click “Dealers.”

About MUSA Auto Finance
MUSA Auto Finance maintains its corporate offices in Dallas, Texas, with a servicing and collections center in Jacksonville, Fla. MUSA originates its leases from franchise and select independent dealers and will soon expand its sales force nationwide. The company expects to have marketing reps in 25 major markets and to be doing business in 48 contiguous states within the next two years. MUSA was founded by Jeff Morgan, who also owns Mortgages USA and Internet Auto Group. Richard Frunzi, President, former co-founder and COO of Exeter Finance Corp., joined Mr. Morgan in 2016 to create MUSA Auto Finance. MUSA’s leadership team also includes Cinde Perales, Chief Compliance Officer; Eric Estes, Chief Operations Officer; and Scott Schondau, Chief Financial Officer. For more information, visit www.musaautofinance.com.