Direct Auto Finance

INDUSTRY LEADING TECHNOLOGIES TURN BUSINESS POSSIBILITIES INTO REALITY.

With the auto industry averaging a consistent 20 million - 30 million in used vehicle purchase and refinance transactions every year, savvy lenders are expanding into the direct auto finance market where loans are originated directly by the lender to the consumer. Lenders are tapping into transactions which are outside of the typical indirect auto finance channel. For many lenders direct auto finance presents some seemingly insurmountable challenges:

  • Expensive to process
  • High volumes of document mistakes and exceptions
  • Poor use of branch personnel
  • Lack of knowledge of DMV requirements
  • High effort to obtain a perfected lien
  • Typically results in a poor consumer experience

VINtek is the recognized leader in direct auto finance. Our solution is used by two of the largest U.S. banks as well as credit unions across the country.

Our direct auto finance process addresses the issues many lenders face and provides a unique consumer service by eliminating the need for consumers to go to the DMV in order to register their vehicle and record the lien for the lender.

The VINtek direct auto finance solution utilizes innovative technologies and services to help lenders deliver turn-key financing solutions for consumers.

  • Real-time calculation of tax, tag and title fees to enable inclusion in the amount financed
  • Consumer document portal providing access to auto loan and other lender documents, such as eSignature technology and eContracting
  • “DMV Concierge” services for remote lien perfection
  • Cloud-based workflow tracking system incorporating document imaging, customized workflow status codes and specialized reports
  • Access to DMV documents and customized checklists specific to the consumer circumstances

Call us at 888-VIN-6500 today to learn how you can profitably and safely establish or expand your direct auto finance business.