Automatic USA is a syndication platform that connects auto dealerships with a diverse network of lenders, facilitating efficient access to competitive financing options and backend products. This technology addresses the challenges of inventory management and financing transparency, ultimately enhancing sales opportunities and revenue growth for independent dealerships.
Funding
$2.4M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Independent auto dealerships face challenges in efficiently securing financing for their used car inventory and providing competitive financing options to their customers. The process often lacks transparency and involves navigating a fragmented landscape of lenders and backend product providers. This can lead to increased operational costs and missed sales opportunities.
Solution
Automatic provides a centralized "Open Marketplace" platform that connects independent auto dealerships with a diverse network of lenders and vendors, streamlining the financing process. The platform enables dealerships to access competitive financing options and backend products, such as GAP warranty and service contracts, all in one place. By automating underwriting and offering integrations with DMS systems, Automatic simplifies operations and enhances efficiency for both dealerships and lenders. This allows dealerships to offer better rates to buyers, close deals faster, and increase profitability, while lenders gain access to a growing network of dealerships and exclusive deal flow.
Target Audience
The primary target audience includes small to large independent auto dealerships seeking to streamline their financing process and lenders looking to expand their reach within the used auto market.
Features
- Open Marketplace connecting dealerships, lenders, and backend product vendors
- Access to competitive financing rates from multiple lenders
- Non-recourse lending options
- Full spectrum lending support
- Financing terms from 24-84 months
- DMS integration for streamlined data management
- Automated underwriting for faster loan approvals
- B2B2C roadside assistance product for dealerships to offer consumers
- Platform to copy applications, update vehicle info and loan structure with fewer clicks