GO Financial account managers were notified on Monday, that the Mesa, Ariz.-based lender would stop originating loans today, according to a document sent to Auto Finance News. “Any outstanding titles for dealers with pool closing will need to be secured prior to pool closing,” the document read. The loan application feature has also been taken down from GO’s website this morning.
AFN first reported of the news yesterday.
“GO is one of several companies within our ownership structure, and our owners have decided to focus their resources and capital in our other core business units,” the document read.
Colin Bachinsky, former president at GO, confirmed the news, adding that “GO was the least connected business, as Carvana and DriveTime are backed with the inventory, and then you have SilverRock, which is an F&I company. GO is a little different, as we were indirect for non-affiliated dealers.”
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