DALLAS and BOSTON, March 7, 2022 /PRNewswire/ — Santander Consumer United States Inc. (“SC”), a wholly owned subsidiary of Santander Holdings United States, Inc. (“Santander US”), today announced the expansion of its partnership with AutoFi Inc. (“AutoFi”), a leading e-commerce platform for automotive sales and financing, to to expand SC’s end-to-end digital car buying experience. Santander US has also invested in the capital increase announced today by AutoFi, strengthening the Santander/AutoFi relationship and aligning our long-term interests.
The new SC digital experience will include mobile, desktop and in-dealership tools to identify cars in a dealership’s lot that fit a consumer’s budget, as well as specifications for closing deals – streamlining the financing process and allowing consumers to buy a vehicle however, where and when they want. The consumer digital experience will bring SC dealerships new “deal-ready” vehicle buyers by allowing consumers to preview a dealership’s inventory online and identify the cars they want and can afford. allow, before going to the dealership.
Santander consumer United States President and CEO, Mahesh Adityasaid, “Our new suite of digital products will connect dealers, consumers and vehicles more effectively than ever. By personalizing and streamlining the car buying process, everyone wins. Buyers see exactly what they can buy and dealers can access every transaction self-service to meet their customers’ needs.”
Co-founder and CEO of AutoFi, Kevin Singermansaid, “Santander is a global leader in auto finance, and we are thrilled to extend our partnership with them on this digital experience. Both organizations share a deep passion for applying financial technology innovation to make car buying and selling process a trustworthy process and joyful experience.”
“Kevin Singerman and co-founder and chief technology officer of AutoFi Mandar Gokhale have created a very effective platform that we believe will take the dealer and customer experience to a whole new level,” added Aditya. “We are very excited about our future with AutoFi.
Santander and AutoFi have been partners since 2018, and SC continues to increase its investment in technologies like AutoFi that deliver a new level of convenience, transparency, and personal experience for car buying and auto loans across the world. spectrum of credits.
Santander consumer United States Inc.. is a full-service consumer finance company focused on vehicle financing, third-party maintenance and providing superior service to our more than 3.0 million customers across the credit spectrum . Santander Consumer began creating installment retail contracts in 1997 and has an average portfolio of assets under management of approximately $64 billion (for the fourth quarter ended December 31, 2021). The company is headquartered in Dallas, TX. (www.santanderconsumerusa.com)
AutoFi is the leading commerce platform for end-to-end digital automotive sales and financing, generating billions of dollars in transactions every year. AutoFi empowers sellers, including the nation’s top dealerships and digital retailers, to sell more efficiently and profitably through its innovative platform and extensive network of trusted lenders. AutoFi’s cloud-based pricing platform, Real Payments, and its lending-as-a-service APIs offer industry-leading solutions to power prequalification and financing for the industry’s top automotive brands. For more information, visit www.autofi.com
SOURCE Santander Consumer United States Inc.