Mr. Jeff Morgan reports
AMERITRUST AUTO ADVANCES END-TO-END LEASE REMARKETING STRATEGY
Ameritrust Auto, a wholly owned subsidiary of Ameritrust Financial Technologies Inc., has received a Texas dealer licence and Texas lease facilitators licence. Ameritrust Auto is advancing an integrated lease retention and remarketing strategy designed to create value for dealer partners, lessors and customers throughout the lease life cycle.
The licences represent an important first step in establishing Ameritrust Auto's new vehicle remarketing business and expanding its ability to immediately conduct lease-related vehicle disposition activities in Texas, one of the largest automotive markets in the United States, and the location of the company's head office. Ameritrust Auto is currently implementing its lease retention and remarketing strategy in Texas, and subject to the applicable licensing and regulatory requirements, will expand the model into additional U.S. states.
Jeff Morgan, chief executive officer of Ameritrust, commented:
"In most cases, Ameritrust Auto enables its dealer partners to acquire lease-return vehicles at lease maturity. This retention strategy helps dealers address inventory needs while creating an opportunity to bring an active, in-market lease customer back into the dealership. When circumstances fall outside the traditional lease-return process, including early repossessions, vehicles with residual values or payoffs that exceed what a dealer is willing to pay, customers who relocate outside a dealer's market, or customer disputes and lease-return challenges, Ameritrust Auto applies a tailored remarketing strategy to maximize the value of each vehicle.
"This approach is designed to optimize vehicle disposition, increase remarketing revenue and reduce cumulative net losses. By providing a structured solution for vehicles that may otherwise present challenges for lessors, Ameritrust Auto can also help reduce downstream collections activity and disputes with its original lessor.
"Ameritrust Auto also plans to extend its remarketing strategy and enhanced customer experience through Ameritrust Serves, creating an additional benefit for future lending partners and their independent lease and loan portfolios. The goal is to provide lending partners with a comprehensive servicing and remarketing solution that supports customers from lease origination through vehicle return and disposition.
"By integrating customer experience, dealer relationships, servicing and remarketing into a single strategy, Ameritrust Auto has developed an efficient and customer-focused approach to the complete lease life cycle."
About Ameritrust Financial Technologies Inc.
Ameritrust Financial, listed on the TSX Venture Exchange, OTCQB and Frankfurt Stock Exchange, is a finance solution and fintech provider disrupting the automotive industry. Ameritrust's integrated, cloud-based transaction platform facilitates transactions amongst consumers, dealers and financiers. Ameritrust's platform is being made available across the United States.
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