Today we’re excited to announce the expansion of our digital point-of-sale financing solution, FrontLine, into the auto repair industry. This solution will revolutionize the auto repair finance market by providing a unique, best-in-class product designed to make costly auto repairs accessible and affordable for consumers, while helping auto service businesses capture new and incremental repair revenue.
“We consider this program to be the first auto service point-of-sale financing solution of its kind, enabling Canadian vehicle repair businesses to extend their services, splitting costly repairs into affordable installment payments. This unique product’s application process can be initiated by either the auto repair facility or by the customer, without credit checks”, said Ali Metel, LendCare’s Chief Executive Officer, “Completed applications can be submitted in either real-time at the point-of-sale of a specific location, or by any consumer in advance of proceeding to their preferred auto repair facility. By simplifying the financing process, it guarantees merchant payment, while allowing the customer to get back on the road, quickly and safely, in the same amount of time as someone paying by cash or credit card”.
Following a successful pilot completed in the first quarter of 2021, the Company’s proprietary point-of-sale finance platform, FrontLine, will now be rolled out to over 1,000 existing auto partners nationwide, before being released to the general market in the third quarter of 2021
This expansion of FrontLine alleviates the stress of costly and unexpected auto repairs, by enabling service centres to offer their services to consumers who are often unable to afford them. The solution, which is also used across other LendCare verticals, is designed to address the needs of service centres, while allowing consumers the option to get pre-approved before they set foot in a repair shop.
Visit our Auto Repair Financing for full details.
LendCare Capital Inc., is an industry-leading point-of-sale financing subsidiary of goeasy Ltd. (TSX:GSY). Through a network of approximately 7,500 merchants and innovative technology, LendCare offers financing for vehicles, powersports, retail purchases, healthcare procedures and products, and home improvements. goeasy is one of Canada’s leading non-prime consumer lenders offering a full suite of leasing and lending products to the non-prime consumer. Founded in 1990, goeasy has spent the past 33 years providing approximately 1.3 Million Canadians with access to $10.7 Billion in consumer credit.
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