AFC Financing Now Integrated with I-bid LIVE(SM) Internet Bidding Platform.WESTCHESTER, Ill. -- Insurance Auto Auctions, Inc. ("IAA IAA abbr. indoleacetic acid Noun 1. IAA - a plant hormone promoting elongation of stems and roots indoleacetic acid auxin - a plant hormone that promotes root formation and bud growth 2. "), a leader in automotive total-loss and specialty salvage salvage, in maritime law, the compensation that the owner must pay for having his vessel or cargo saved from peril, such as shipwreck, fire, or capture by an enemy. Salvage is awarded only when the party making the rescue was under no legal obligation to do so. services in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , today announced the release of a new tool that links buyers in the I-bid LIVE bidding application to the floorplanning services of its sister company, Automotive Finance Corporation ("AFC (1) (Application Foundation Classes) A class library from Microsoft that provides an application framework and graphics, graphical user interface (GUI) and multimedia routines for Java programmers. "), the leading floorplan assistance company in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . Through AFC, qualified IAA buyers have the option to floorplan vehicles purchased at either the live auction or via the internet. Under this new arrangement, AFC has been given unparalleled access to IAA's buyer base, marketing directly to them at IAA's auction facilities across North America. Both IAA and AFC are uniquely positioned to leverage the significant synergy The enhanced result of two or more people, groups or organizations working together. In other words, one and one equals three! It comes from the Greek "synergia," which means joint work and cooperative action. opportunity that exists between the two organizations. "Buyers at our live physical auctions have been well exposed to the financing opportunities offered by AFC and are taking advantage of this powerful new financing tool," said Tom O'Brien Tom O’Brien or Thomas O’Brien may refer to:
1. The value of a currency expressed in terms of the amount of goods or services that one unit of money can buy. Purchasing power is important because, all else being equal, inflation decreases the amount of goods or services you'd be able to purchase. 2. of this significant group of buyers. Floorplan financing enables our buyers to acquire more vehicles, which we believe is one of the reasons we've seen additional bidding activity driven by buyers' increased purchasing power and we expect this to further strengthen our industry-leading returns." Since the inception of the financing program in July, 2007, IAA has seen vehicle financing at nearly all of its auction facilities with a growing number of unique buyers participating in the program. Buyer interest in AFC continues to grow, fueled in part by AFC's innovative 14-day "Buy & Go" financing option available exclusively to buyers at IAA. Floorplanning services are available to qualified buyers at every IAA location in the United States and at all 12 Impact Auto Auctions locations in Canada. About Insurance Auto Auctions Insurance Auto Auctions, Inc., founded in 1982, a leader in automotive total loss and specialty salvage services in the United States, provides insurance companies with cost-effective, turnkey solutions to process and sell total-loss and recovered-theft vehicles. The Company currently has 126 sites across the United States and 12 in Canada which operate under the name of "Impact Auto Auctions." Both Insurance Auto Auctions, Inc. and Automotive Finance Corporation are owned by Kar Holdings, Inc. Additional information about Insurance Auto Auctions, Inc. is available on the World Wide Web at www.iaai.com |
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