Tag Archive | "AutoPayPlus"

AutoPayPlus Debuts New Features to Help Dealers Service F&I Customers


ORLANDO, Fla. – AutoPayPlus launched new program features today that are designed to help auto dealers provide greater service options to their F&I customers. The company’s online calculator now includes a leasing service and several new debit options.

– New debit options – AutoPayPlus’ biweekly auto loan calculator now provides more debit choices to match the customer’s pay cycle, including weekly, bimonthly and monthly.

– Leasing service – AutoPayPlus’ auto loan calculator now offers both finance and lease selections. The new leasing service comes with a discounted program fee of $199 plus all the benefits of the company’s Plan & Protect service bundle valued at $20.95 per month.

– Time-to-Trade – Calculations now include the ability to select early trade-in terms to showcase the improved equity position for customers who have a specific trade-in time line. ­

“With new vehicle prices rising to record levels, more and more car buyers are considering alternative and affordable financing options, including leasing,” according to AutoPayPlus CEO Robert Steenbergh. Indeed F&I and Showroom reports that leasing accounted for a record 31.1% of all new-vehicle transactions in the first quarter of 2016. “We’re giving dealers greater flexibility to meet the needs of these customers by expanding our automated loan acceleration service options.”

Like before, all AutoPayPlus customers also get access to a free Plan & Protect financial planning toolkit to help them automate other bill payments, organize their finances, monitor their credit, and create a budget and savings plan for the future. The resources available include monthly VantageScore® 3.0 credit score with trending from TransUnion®, and credit monitoring and instant alerts from TransUnion® to help prevent identity theft.

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US Equity Advantage Earns Top Auto Industry Award


ORLANDO, Fla. –  For the second consecutive year, US Equity Advantage® (USEA) has received the top-ranked Diamond award in the annual Auto Dealer Monthly Dealers’ Choice Awards program that recognizes the industry’s best product and service providers.

This year’s 12th annual Dealers’ Choice Awards were based on a comprehensive survey that allowed auto dealers and dealership personnel to vote for their preferred vendors, suppliers and finance companies in 34 categories. Nominees were scored in a number of areas related to performance, customer service, and the likelihood the voter would recommend each company to another dealer.

“Our commitment to exceptional customer experiences – for both the dealer and the car buyer – is unparalleled in the biweekly payment plan industry,” said USEA CEO Robert Steenbergh. “Our dealer partners value the full customer lifecycle of benefits our AutoPayPlus service delivers, from helping car buyers better afford their loan payment and purchase additional F&I products to trading out earlier and returning to the dealer in a positive equity position. This award is recognition of the tremendous asset we provide in a highly competitive marketplace.”

USEA dealerships sell approximately 57% more F&I products on biweekly deals as opposed to standard retail deals, according to the company’s 10-year analysis. In addition, results from USEA’s top dealer groups reveal a 63% increase in per-vehicle financed income on AutoPayPlus customers. The company’s dealer service support includes a dedicated team experienced in automotive retail finance and an online dashboard that lets dealer personnel track their deals and commissions in real-time.

“This year’s winners all have one thing in common,” said Publisher David Gesualdo. “They have earned the loyalty and praise of dealers, and they deserve our congratulations.” The winners will be honored in a special ceremony in August at Industry Summit in Las Vegas.

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US Equity Advantage Unveils New Brand Reflecting the Company’s Expanded Payment Solution Service Offerings


ORLANDO, Fla. – In 2003, US Equity Advantage (USEA) started helping car buyers purchase finance products they could not afford with a standard monthly payment plan; growing to become one of the nation’s leading providers of biweekly loan processing for the automotive industry. Today, the company unveiled a major rebranding initiative that reflects the evolution of USEA’s signature product into a comprehensive personal financial management service that helps customers take greater control of their financial future.

“AutoPayPlus represents the company’s expanded vision and investment in new technologies to grow beyond simply a loan payment service to helping our consumers manage a wide range of financial obligations, reach their financial objectives faster and save for the future,” said CEO Robert Steenbergh.

AutoPayPlus provides loan payment solutions and personal equity building services, credit monitoring and protection, and other financial planning tools. It helps customers automate their bill payments, organize their finances, monitor their credit, and create a budget and savings plan for the future.

More than just biweekly, AutoPayPlus offers a variety of early loan payoff services and payment solutions, including weekly, bimonthly and monthly withdrawals, for debts ranging from auto and student loans to mortgages and credit cards. In addition, customers have access to a financial planning toolkit with a wealth of resources such as monthly VantageScore® 3.0 credit score with trending from TransUnion®, and credit monitoring and instant alerts from TransUnion® to help prevent identity theft.

Components of USEA’s rebranding initiative include a new logo and descriptive tagline, new collateral material and a dynamic website. The new logo features a contemporary font and automation wheel with each color signifying AutoPayPlus’ collection of services: payment (gold), credit monitoring (purple), equity acceleration (orange), savings (blue) and, soon to come, investments (green).

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US Equity Advantage and Ristken Enter Agreement


Orlando – US Equity Advantage (USEA) entered a long-term agreement with Ristken Software Services to provide bi-weekly loan services through Ristken’s Menu-Pro platform. Ristken’s clients include some of the largest companies in the automotive and insurance industry including Zurich, Ford and Ally, as well as hundreds of general agents across thousands of dealerships.

Dealers using Ristken’s Menu-Pro will be able to quote bi-weekly payments in their menu presentation to customers and enroll them through a paperless process that is fully integrated with the DMS. By utilizing AutoPayPlus, dealers help their customers afford more F&I services and products without extending the term or increasing the monthly payment.

“We pride ourselves with working with some of the largest companies in automotive. US Equity Advantage is the premier bi-weekly service in the industry and they have an excellent track record of service and compliance,” Patrick DeMarco, president, Ristken Software Services.

“We have known the team at Ristken for many years and watched them become one of the predominant menu systems on the market today,” added Robert Steenbergh, CEO and president, US Equity Advantage. “Our companies share a focus on technology innovation and growth and we look forward to a successful partnership.”

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Vaden Automotive Group Customers See $3,000 Improved Equity Using AutoPayPlus Biweekly Loan Payments


Orlando, Fla. – Vaden Automotive Group reports that their customers average $3,000 improved equity position when using US Equity Advantage’s (USEA) – a provider of biweekly and custom consumer loan acceleration services to the automotive industry – rapid loan payoff solution AutoPayPlus. Vaden’s entire AutoPayPlus customer base will be in a better equity position of $13.5 million over the next two and a half years.

Vaden was founded in 1968 as a single Chevrolet dealership on an old dairy farm in Savannah, Ga. Today, the Vaden family operates 10 dealerships throughout Savannah and Brunswick, Ga., as well as Beaufort, S.C. Vaden began using AutoPayPlus approximately two years ago with the goal of improving per vehicle revenue (PVR), but also with a goal to help their customers improve their equity and their financial viability to purchase vehicles from them in the future.

According to Michael Barrett, finance director, Vaden Automotive Group, the program’s true benefit is that “AutoPayPlus places our customers in an average $3,000 better equity position.” He added, “We are already enrolling in excess of 150 customers per month, producing an average of $3,000 additional equity per contract. Multiply that by 12 months and that figure is $5.4 million. Extrapolate out for two and a half years and it equals $13.5 million in improved equity for our customers!”

Vaden’s customer retention has improved in response to its strategy to help customers build equity faster for an earlier trade-in opportunity. The auto group has also augmented its PVR by 37.5 percent; with a product sales increase from 0.8 to 1.1 per vehicle.

“One of the biggest problems with car buyers today is they lack an adequate down payment. AutoPayPlus helps alleviate the problem because the payment strategy enables the customer to build a better equity position. With AutoPayPlus, not only will the customer reduce the payoff term of the loan, but also the amount of interest paid, and build equity in their vehicle faster,” Barrett explained. “With more equity earlier in the life of the loan, they will be in a better position to trade-in. Additionally, we enable the buyer to afford a maintenance plan, save a substantial amount in interest and have a built-in down payment for their next vehicle with no out of pocket costs, and for little, if any, increase in car payment. It’s an easy sell – an absolute no brainer.”

According to Barrett, Vaden Automotive Group is well known for its above average F&I performance and the group’s PVR is on target to put an additional $1.1 million on the books this year.

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