MUSA Auto Finance announced the launch of a new online portal today to allow dealers to submit applications, receive decisions, and print pre-populated lease contracts, according to a company press release.
During each transaction, dealers send MUSA the customer and vehicle information, agreed-upon vehicle price, and down payment through Dealertrack, RouteOne, or the MUSA portal. After MUSA structures the lease with one click, dealers can print the completed lease agreement to finalize the funding package. The online portal will enable “truly effortless leasing,” the release stated.
“When we started this company, our mission was to modernize auto leasing so dealers no longer need to worry with complicated worksheets, tedious deal structuring, and kicked contracts,” President Richard Frunzi said in the release. “Leveraging this kind of automation for leasing is unheard of in the industry today — and especially for both new and used cars.”
“The standard leasing process is confusing and time-consuming for dealers,” CEO Jeff Morgan added. “It’s so difficult that many dealers don’t even want to consider doing a lease, but our automated leasing program will change that.”
Musa Auto Finance specializes in new and pre-owned vehicle leasing and currently operates in 29 states. Back in March, MUSA has secured funding for a nationwide launch and online portal enhancement. The funding comes from a $125 million warehouse facility agreement with Goldman Sachs and another $50 million in capital from Crestline Investors Inc.
