The traditional route to getting a used car involves getting your knowledgeable uncle a case of beer in advance, and heading down to the local dealership, where he and the sweaty hawaiian shirt-clad dealer guy would walk around the car (or truck) and talk car gibberish like carburettors and catalytic converters, and exchange such clandestine sacred knowledge like blue book value.
Then someone might throw their hat into the dust and point a threatening finger, talk more gibberish and your uncle would come away with a price. If you’re not a car-guy, it’s like watching someone play The Sims: Used Car Salesmen Expansion in real time.
Powerband Solutions (PBX.V) Drivrz program takes away this amusing but time consuming stage play and saves you the cost of a case of beer (and your uncle’s liver) by putting the buy-sell, etc, dance at your fingertips, while you google catalytic converter in another tab.
(It’s a exhaust emission control device in internal combustion engines that converts gases and pollutants into less toxic pollutants. You’re welcome.)
Now there’s more options for more people because the company’s added a national group of 64 dealerships onto their Drivrz Financial today, according to a press release.
The group brings their total number of partners up to 532, which represents a 14% increase. The group spreads Drivrz range out to seven western states, including Utah, Arizona, Colorado, California, Idaho, New Mexico and Washington, and over 20 different car and truck brands.
“This is a clear signal of confidence in Drivrz Financial by one of the United States’ most respected automotive dealership groups. We are delighted they see Drivrz Financial as a burgeoning platform for their dealerships and customers. We continue to target onboarding 1,000 dealers by H1 2022 and aspire to achieve two to three originations per dealership per month as we scale the business,” said Jon Lamb, Drivrz Financial’s CEO.
A former marketing client of ours, Powerband Solutions is a fintech company that connects consumers, dealers, financiers and manufacturers with a cloud-based transaction platform. It gives each the ability to buy, sell, trade finance and lease new and used, electric and non-electric vehicles using a phone, tablet or PC with a stable internet connection.
Drivrz Financial is their financial arm. They’re generally focused around closing commercial agreements with large dealer groups to expand their reach.
“There are proven leaders in the automotive retail sector and this dealership group has been one of them from the very start. This represents a major opportunity for Drivrz to further expand its outreach to the western United States,” said Kelly Jennings, Powerband’s CEO.
Source: stockwatch.comPowerband is down $0.04 and closed at $0.70.
—Joseph Morton
