WESTLAKE, Texas, May 26, 2022 – Integrated vehicle financing solution provider Solera Auto Finance (SAF) is building momentum and bettering its own initial growth estimates in record time. Buoyed by its well-received launch in March of this year, SAF is already well-positioned in the used car finance market, signing dealer agreements and funding loans within two months of its introduction. SAF today announced the upward revision of its short-term targets in the face of this accelerated market adoption.

“We have a robust offering, a motivated team, and a strong network that is growing on a daily basis. Solera Auto Finance planned to launch initially in seven states and add about a dozen more in the next six months. I’m proud to say we have made quick inroads with dealers and customers in a record time. SAF is already operational in 20 states within two months of its launch. Based on our accelerated growth and performance, we are revising our short- and long-term growth targets and now plan to be operational in all 50 states within the next one year,” commented Kenn Wardle, CEO, Solera Auto Finance.

SAF levels the playing field for dealers, enabling them to provide the same seamless experience with a ‘captive-like’ financing solution that rivals even the most prominent used-car disrupters.

“We are fulfilling our promise of enabling independent and franchise car dealers to provide competitive-rate auto loans to the non-prime segment of used car buyers. By the year-end, we expect to extend our offering to the full spectrum of used-car buyers. Besides reducing operating costs, SAF’s commercial value proposition for used car dealers is designed to positively impact the automotive industry, create a seamless journey for car buyers, accelerate the financing and funding processes and provide a superior car-buying experience,” added Wardle.

SAF provides a new competitive financing option that fully integrates with Solera’s Dealer Management Systems (DMS), including Auto/Mate for franchise dealers and IDMS for independent dealers.

Amongst SAF’s first customers is Virginia-based dealership Town Auto Brokers. Rena Bateman, General Manager, Town Auto Brokers said: “What attracted us to Solera Auto Finance was their straightforward financing solution with an all-digital, online option and competitive financing rates. We are excited to collaborate with a company that is easy to reach and impressed by the customized service provided to us at every step in the process. Based on our interaction, this is the key differentiator of why we believe Solera Auto Finance is making quick inroads in the used car finance segment.”

Having expanded to 20 states, SAF is already actively recruiting in others for its high-speed rollout. In the current, highly competitive used car market, SAF will empower dealers to engage new customers with a fast, simplified lending solution for buyers and dealers. With its purpose-built financing solution, car buyers can receive financing decisions in seconds. SAF will also fund the dealer significantly faster than the current process, which can take several days for many franchise and independent dealers. As SAF’s AI-driven technology continues to mature, dealer funding time is expected to shrink to mere hours.

Dealers who take advantage of Solera Auto Finance will also qualify for a unique rewards program that can reduce or eliminate their Solera DMS solution fees. 

Details about the program, including how to enroll, are available at www.soleraautofinance.com or via email: info@soleraautofinance.com. 

WESTLAKE, Texas, Sept. 6, 2022 – Solera Holdings, LLC, the global leader in vehicle lifecycle management, today announced a strategic partnership with DigniFi, a leading FinTech platform for the automotive industry.

Solera will offer access to DigniFi financing options, funded by WebBank, to consumers seeking payment solutions for a range of vehicle repairs made by auto repair and body shops as well as dealers. Solera is offering the DigniFi solution through several of its platforms and expects to make DigniFi financing options available across three of its operating pillars – Vehicle Claims, Vehicle Repairs, and Vehicle Solutions. Solera dealerships, auto repair facilities, and body shops can enroll for DigniFi financing options by emailing Solera@dignifi.com.

"Adding this offering is a win for Solera’s customers and car owners because DigniFi provides access to a much-needed financing choice for the thousands of people not able to pay for an unexpected repair, insurance deductible, or bodywork without assistance,” said Alberto Cairo, Solera Managing Director of Vehicle & Fleet Solutions.

DigniFi solutions can provide access to financing for almost any vehicle-related expense, including mechanical repairs, preventive maintenance, bodywork, insurance deductibles, vehicle service contracts, accessories, tires, and prepaid maintenance packages. Drivers can receive financing from $350 to $7,500 to pay for vehicle-related expenses. To apply, consumers complete a simple, four-step process and receive an answer in minutes.

“It’s a real thrill to collaborate with like-minded, industry-leading partners, like Solera, who share our commitment to supporting main street and hardworking people across the country. I’m convinced that together, we can build a world where inclusive, accessible funding for the needs and aspirations of daily life is the norm,” said Neeraj Mehta, CEO, DigniFi. “At DigniFi, we strive to spark opportunity for small businesses and to delight their consumers through access to visionary, inclusive financing.”

About Solera

Solera is the global leader in vehicle lifecycle management software-as-a-service, data, and services. Through four lines of business – vehicle claims, vehicle repairs, vehicle solutions and fleet solutions – Solera is home to many leading brands in the vehicle lifecycle ecosystem, including Identifix, Audatex, DealerSocket, Omnitracs, LoJack, Spireon, eDriving/Mentor, Explore,

cap hpi, Autodata, and others. Solera empowers its customers to succeed in the digital age by providing them with a “one-stop shop” solution that streamlines operations, offers data-driven analytics, and enhances customer engagement, which Solera believes helps customers drive sales, promote customer retention, and improve profit margins. Solera serves over 300,000 global customers and partners in 100+ countries. For more information, visit www.solera.com.

About DigniFi

DigniFi is a FinTech company and leader in the world of transportation. We help auto dealers and small businesses across the country grow their revenue and delight their customers with access to visionary, inclusive financing. Our technology simplifies the loan application process and enables small businesses to offer access to on-the-spot financing for repairs, parts and

accessory purchases, trade-in assists, maintenance packages and more. All credit products are originated by WebBank, Member FDIC. To date, DigniFi has helped over 6,000 small businesses across the nation secure almost $200 million in incremental transactions. For more information, please visit DigniFi.com.