Flex Fund Announces FLEXible Trade-Ins.
YORBA LINDA, Calif. -- Flex Fund Financial Services, LLC, a leading provider of used-car inventory financing for new- and used-car dealers, and salvage buyers, today announced FLEXible Trade-Ins, a new program specifically designed to save dealers time and money on trade-in vehicles.
Through FLEXible Trade-Ins, Flex Fund will directly finance trade-in vehicle transactions that involve outstanding loan balances. Dealers can now use FLEXible Trade-Ins to immediately pay off loan balances for vehicles.
"FLEXible Trade-Ins allows our dealers to conserve precious cash while simultaneously expanding their ability to hold and retail desirable trade-in vehicles," said Cliff James, Flex Fund CEO.
Typically, a dealer does not receive the title to a purchased trade-in vehicle until he/she has paid the outstanding funds to the vehicle's lien holder. Dealers can't obtain inventory financing until they have the vehicle's title. According to James, policies like these consume two of the dealer's most precious commodities - time and cash. Cash is consumed when the dealer pays off the trade-in vehicle loan balance to the lien holder. Time is consumed because it often takes two to five weeks for the dealer to receive a title that he can then present for floor planning.
Concluded James, "FLEXible Trade-Ins dramatically expands the dealer's potential related to trade-in vehicle business because it conserves cash and saves time. This new program is another example of Flex Fund listening to our customers and then responding with an innovative solution."
About Flex Fund
Flex Fund Financial Services, LLC, provides used-car inventory financing (floor planning) to new- and used-car dealers, and salvage buyers. The company has established relationships with key industry leaders, offering customers access to a broad selection of inventory with innovative financing options to meet their needs. Headquartered in Orange County, Calif., with operations in Minneapolis, Flex Fund is led by a senior management team with more than 150 years of automotive industry experience. To learn more, visit Flex Fund online at: www.flexfund.net.
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|Date:||Feb 22, 2007|
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