Turnkey Leasing Model Increases Success, Profitability of Dealerships
DETROIT - Advanced Business Computers of America, Inc. (ABCoA) is proud to announce CARite selected Deal Pack as its Dealer Management System. CARite, Don Foss' latest automotive venture, is redefining automotive leasing and using Deal Pack at its core. Mr. Foss and the CARite team unanimously selected ABCoA's Deal Pack software because it provides transparency between related entities and focuses on the fundamentals of the special finance industry.
Currently with six locations across Michigan, the CARite business model is innovative and prepared for nationwide expansion. Unlike traditional independent dealerships, CARite provides a turnkey used-car franchise with funding, leasing program, and integrated dealer management system. Mr. Foss began using Deal Pack in 2003 at various subprime operations, and requested certain customizations be made to provide transparency between the dealership (CARite franchise), lender (Brite Financial), and lessor (LHPH). This innovative business model leverages lease regulations to reduce liability and maximize profitability for dealers on the CARite program. The transparency Deal Pack provides between these related entities increases dealer advances, cash flows, and success. Additionally, Deal Pack's collections features, such as online and phone (IVR) payments, empower and assist the lessee (Customer) in remaining current.
Known for owning the largest independent dealership in the world and establishing Credit Acceptance Corporation, Mr. Foss' automotive knowledge and business practices are industry benchmarks. Mr. Foss learned early in his career collections determine a subprime dealership's success, and accounting ensures a dealership's financial position is without oversight. Deal Pack focuses on the fundamental tenets of success in the special finance industry: Industry-leading collections tools reduce delinquencies, and integrated accounting accurately handles leases in the specialized auto finance niche. "Deal Pack's real-time accounting is critical to our operation," says Don Foss, CARite's Chairman and CEO. "Batch exporting to a third-party software that was not designed for the subprime auto industry is simply inadequate." Capable of over 100,000 accounting entries, Deal Pack handles all of the heavy lifting. "It is our pleasure to provide CARite the solutions they need to thrive and grow," says Shad Hedy, Chairman and President of ABCoA. "When there's financial transparency, there's success."
About Advanced Business Computers of America, Inc:
Advanced Business Computers of America, Inc. (ABCoA) is a privately held company with over 5,100 customers across North America. Founded in 1983, ABCoA provides total software solutions to the independent automotive dealership, subprime finance and auto finance industries. Setting industry benchmarks and providing unparalleled customer service has remained the core focus of ABCoA since its inception. For more information on ABCoA's Deal Pack Dealer Management Software, visit www.dealpack.com.
For more information or to schedule an interview, contact Jillian Thompson at 800.526.5832.
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