SpringboardAuto Aims For 1-Hour Dealer Purchase

SpringboardAuto.com is preparing to move its refinancing and private-party auto financing platform into dealerships in the fourth quarter, a process that Chief Marketing Officer Stuart Holmes said will achieve the “holy grail” of getting a consumer in and out of a dealership within an hour.

“It’s very simple for them to process the customer,” Holmes told AFN. “These less-than-prime customers that historically take some time to process — dealers will be able to process them truly in a matter of minutes, and so dealers are going to get the benefits of higher customer service [scores].”

Holmes described the yet to-be-launched system as one where dealers go to Springboard’s website, validate buyers’ order information, print out the appropriate acknowledgements and title instructions, and choose how they want to get paid.

“As we grow with our strategic partners, we’ll be able to steer consumers to those dealers that we see a lot of transactions with,” he said.

Holmes will be discussing this platform and other innovative lending solutions at the Auto Finance Summit, which runs Oct. 5-7 at the Bellagio in Las Vegas, during a panel session entitled “Futurewatch: Business Models of Tomorrow.”