Boulder, CO – March 2, 2016 — Confident Financial Solutions, (CFS) a consumer finance company that offers auto repair financing to service centers and their customers, today announced a partnership with Moran Family of Brands to help increase service drive activity at their franchises, increase revenue and enhance overall customer retention.
Moran Family of Brands specializes in offering services in nearly every segment of the automotive repair and aftermarket industries. Franchises include Mr. Transmission & Multistate Transmission, Milex Complete Auto Care and Alta Mere Automotive Outfitters. The primary goal of this partnership is to provide franchise customers with a favorable alternative to credit card financing, resulting in increased credit approvals and immediate access to capital. Customers apply online via a smart phone, tablet or desktop and receive an instant credit decision.
“CFS offers our service centers an outstanding auto repair financing program to help increase Repair Order counts and amounts, recapture declined services and assist customers with costly repairs,” said Peter Baldine, President of Moran Family of Brands. “We’ve partnered with CFS to make this available to all of our partner repair shops so as to boost their revenue and enhance customer retention with an auto repair finance solution that takes less than 5 minutes for customers to complete and receive a loan decision.”
While program results vary from store to store, many of CFS strategic partner service centers see an average 20 percent increase in monthly revenues; an increase in ROs and decrease in Service Declines. Bigger ticket ROs are also typically created as customers can now get all the repairs done including transmission and drivetrain repair, tires, general automotive repair, computer replacement, and more. In addition, the program provides affordable payments based on simple interest rather than compounding interest. The program increases customer retention, has a customer approval rate of almost 50 percent; loan approvals as low as mid-500 credit scores; and loan terms available for 12-36 months.
According to John Dunning, CEO of CFS, statistics on the credit crunch suggest that consumers are having a much more difficult time gaining access to much-needed capital and that’s where CFS comes in, “A new study from Bankrate.com, reports that 63 percent of Americans say they’re unable to handle a $500 car repair or a $1,000 emergency room bill. As a financial technology company, we provide on-the-spot automotive repair financing to customers in need. We create a new customer channel for our service center affiliates by helping them find and retain customers. This partnership with Moran Family Brands really is a win-win for all concerned and should lead to increased customer loyalty and revenue,” said Dunning.
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About Confident Financial Solutions:
Confident Financial Solutions is a consumer finance company that offers auto repair financing to service centers and their customers. Its primary goal is to provide a favorable alternative to credit card financing, resulting in increased credit approvals and immediate access to capital. Customers apply online via a smart phone, tablet or computer and receive an instant credit decision. With CFS, partner service centers increase activity on the service drive, increase revenue at the service center and enhance overall customer retention. Based in Boulder, Colorado, CFS is the consumer’s choice for auto repair loans.
About Moran Family of Brands
In 2012, Moran Industries became Moran Family of Brands to better reflect the multiple brands and services that the company offers and the commitment to building a family environment for franchisees. Today, Moran Family of Brands continues to evolve to meet customer demand, market conditions and revenue opportunities with innovation, ingenuity and collaboration. The Moran Family of Brands is an organization offering automotive franchise opportunities perfectly positioned for long-term, sustainable growth. For more information visit: http://moranfamilyofbrands.com
CFS Media Inquiries: All inquiries from the media can be directed to Sean Reyes, CFS Strategic Marketing, at email@example.com or by calling 949.246.6023.
Legal Disclaimer: The application generally takes 2-3 minutes. CFS will promptly fund the repair amount once repairs are completed and documents are executed. All loans are subject to approval pursuant to standard underwriting criteria. The CFS 60-Day Interest Free Program applies to approved customers who pay their entire loan off on time with no missed payments. Available amounts, terms and the Annual Percentage Rate (APR) will be based on an evaluation of your credit history and your state of residence. The interest rate is fixed for the life of the loan and could range from 9.99% to 36.00% APR.