New Functionality Will Deliver Convenient Access to Streamlined Account Information and Vehicle Insights
CARMEL, Ind., Aug. 15, 2017 (GLOBE NEWSWIRE) — Automotive Finance Corporation (“AFC”), a business unit of KAR Auction Services, Inc. (NYSE:KAR) has announced the release of its new Inventory Dashboard for AFC floorplan financing customers. AFC and its floorplan affiliates provide inventory finance solutions to more than 11,000 independent automobile dealers throughout the U.S. and Canada. The Inventory Dashboard, available on the AFCDealer™ website and AFC On the Go mobile app, provides dealers with instant access to current and historical account information with detailed insights into vehicles floored with AFC.
“AFC has been an advisor to the independent automobile dealer for more than 30 years, and we are committed to delivering affordable, comprehensive floorplan solutions,” said Jim Money, president of AFC. “For us, this means doing a lot more than just financing cars. It’s about delivering reliable and dedicated local customer service and developing innovative, data-driven tools that help our dealer customers succeed.”
The enhanced Inventory Dashboard offers new functionality to provide dealers with greater transparency, insights, and account information. Through the new total account balance chart, dealers can view their AFC investment portfolio, including account balance, credit limit, principal, interest, and fees. Dealers can also view deep, vehicle-specific investment information for each vehicle floored with AFC. Through the Inventory Dashboard tool’s innovative turn time table, dealers can view their 18-month vehicle purchase history to identify which vehicles moved most quickly from their dealership. And with 27 new filter options available in the Inventory Dashboard’s reports function, dealers can sort and customize which data is most important and relevant to their needs.
“We’re excited to launch these new capabilities on the AFCDealer™ website and our mobile app because dealer feedback was the primary driver of their design and implementation,” said Money. “We know these tools will help streamline the financing process and help our customers be as efficient and effective as possible.”
Over the past several years, AFC has released consistent updates to the AFCDealer™ website to help streamline important business processes like title delivery, payments, and financial reporting. The company also provides training, tools, and resources to help dealers learn and utilize these advances, including a detailed walk-through of the functionality upon logging in to the AFCDealer™ website.
For information about AFC’s inventory finance solutions, visit www.AFCdealer.com.
About KAR Auction Services
KAR Auction Services (NYSE:KAR) provides sellers and buyers across the global wholesale used-vehicle industry with innovative, technology-driven remarketing solutions. KAR’s unique end-to-end platform supports whole car, salvage, financing, logistics and other ancillary and related services, including the sale of 5.1 million units valued at over $40 billion through our auctions. Our integrated physical, online and mobile marketplaces reduce risk, improve transparency and streamline transactions for customers in 110 countries. Headquartered in Carmel, Indiana, KAR has approximately 17,400 employees across the United States, Canada, Mexico and the United Kingdom. www.karauctionservices.com.
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Source: KAR Auction Services, Inc.