Tag Archive | "US Equity Advantage"

USEA Appoints Greg Leonard CFO


ORLANDO, Fla. — Biweekly loan processing provider US Equity Advantage announced that Greg Leonard has joined its leadership team as CFO. Leonard has more than 30 years of financial, accounting, and leadership experience with both domestic and international companies, including serving as CFO for Hard Rock Café International, Signature Flight Support, and Floor & Décor Outlets of America.

Leonard is responsible for overseeing USEA’s finance and compliance departments where he will ensure the necessary resources and disciplines are in place to support the company’s continued growth in the automotive market. He will also work closely with state banking departments on the money transmission audits that occur annually with each of the 38 states where USEA holds a money transmitter license.

“Greg brings tremendous skills to our finance and compliance teams from his experience working with large and complex organizations,” said Robert Steenbergh, CEO of US Equity Advantage. “As US Equity Advantage continues to grow, we’ll be well positioned to meet our goals moving forward with Greg as CFO. He will also be very involved in helping to shape the strategic direction of the organization.”

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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 Now Integrated with Dealertrack’s Menu and Aftermarket Network


ORLANDO, Fla.– US Equity Advantage® (USEA) announced today that it is now integrated with Dealertrack’s Menu and Aftermarket Network solutions.

A leading provider of biweekly payment programs for the automotive industry with more than 100 combined years of F&I experience, USEA services more types of menu software systems than anyone in the industry, according to CEO Robert Steenbergh. The addition of Dealertrack, a leading provider of software solutions and services for automotive retailers, significantly expands the company’s current reach in more than 4,000 dealerships nationwide.

USEA data has revealed that dealerships sell approximately 57 percent more F&I products on biweekly deals as opposed to standard retail deals. The new integration agreement will allow Dealertrack dealers to reap similar benefits supported by USEA’s high-touch service including in-store training and hands-on in-house dealer support designed to increase F&I sales performance and customer satisfaction. “We look forward to adding the dealers using Dealertrack to our nationwide family of automotive partners,” Steenbergh said.

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US Equity Advantage Temporarily Suspends Business in 16 States


ORLANDO, Fla. — US Equity Advantage (USEA) will temporarily suspend its biweekly loan payment service in 16 of the 50 states in which it does business at the end of September. The decision comes in response to recent regulatory changes concerning licensed money transmission and related restrictions placed on the company by its banking partners.

USEA officials said the company has a robust commitment to ethical business practices led by a full time compliance officer whose department actively works to meet all regulatory issues in the marketplace, including adherence to state money transmission licensing in all 50 states.

“Due to evolving regulatory oversight, we are ending a business process that has allowed us to offer our biweekly loan payment services in states where we do not hold licenses,” CEO Robert Steenbergh said. “Our company remains strong despite this temporary situation. It affects less than one percent of our customers and nonetheless, we continue to operate in more states than any of our competitors.

“Our goal remains to serve customers in all 50 states, and we envision completing the necessary licensing requirements to do so in the near future,” he added.

In anticipation of the Sept. 30 deadline, USEA stopped accepting new enrollments from the affected states on Sept. 5. The company will continue its biweekly loan payment service to existing customers through the end of the month and is developing information and assistance to help them temporarily convert responsibility for their auto loan payments in an efficient and thoughtful manner.

During the loan service suspension, these customers can continue to take advantage of the company’s other AutoPayPlus benefits including several free financial planning tools launching later this month that will make it easier for customers to automate their bill payments, organize their finances, monitor their credit, and create a budget and savings plan for the future.

The affected states are: Alabama, Alaska, Arkansas, California, Colorado, Idaho, Mississippi, Nebraska, Nevada, New York, Oregon, South Dakota, Texas, Utah, Wyoming and also Washington, D.C.

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US Equity Advantage Expands Its Dealer Services Support


ORLANDO, Fla. – US Equity Advantage® (USEA) has expanded its dealer services team to include business development specialists. This new position works directly with F&I managers at the company’s dealership partners to help increase production by offering training, development and support. It represents an additional level of service along with USEA’s existing regional account managers and in-house dealer services team that provides operational support.

“The role of USEA’s new business development specialist is to work hand-in-hand with F&I managers to build lasting value-added dealer partner relationships,” said USEA CEO Robert Steenbergh. “The support this position provides ranges from training on the enrollment process, partner portal functionality and more to coordinating automated production reporting and administering the biweekly certification exam that F&I professionals must complete in order to offer USEA’s products to their customers.”

Joining USEA as business development specialists are Jeannette Bouck and Mark Wrona:

  • Jeanette Bouck is a 30-year veteran of the automotive industry. Her career includes dealership accounting and F&I department management and business development for a dealer/OEM/supplier business consulting firm.
  • Mark Wrona has more than a decade of automotive retail experience. His career includes store manager positions with Goodyear Tire Center and Firestone where he was recognized as a top grossing and producing manager, and assistant service manager at AutoNation Toyota.

USEA follows all 50 states’ guidelines for compliance

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