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CARFCO – Car Repair Financing Co. has announced its grand-opening. It will begin providing financial solutions to customers throughout Canada (with the exception of Quebec) beginning on February 18, 2008. The company is also positioned to begin providing service in a number of U.S. states in 2008. CARFCO’s mission is to provide a solution to both vehicle repairers, who lose money by turning away customers who can’t afford the cost of automobile repairs, and their customers, by offering car repair loans that enable them to fix their vehicles and get back on the road.
“Car service centers are losing money every day because their clients can’t afford to pay for large repairs.” explained CARFCO CEO Martin Lander, “For many people their car is their livelihood, or their only feasible way to get to work. If they can’t afford to pay for repairs, they can’t get to work. We offer a valuable and much needed solution to these problems.”
CARFCO is making their service even more attractive to car repair centers that register for the program by offering them a 2% bonus on the total of each vehicle repair loan that is financed through CARFCO. “Not only do service centers benefit by being able to offer their services to more clients, they are also profiting because they are being paid by CARFCO for the clients they refer.” explained Landers. In essence, CARFCO allows service centers to offer customers vehicle repair financing.
CARFCO’s service will be particularly valuable to truckers and other commercial driver’s for whom their vehicle is their primary source of revenue. A repair costing thousands of dollars for commercial vehicle drivers that would normally be an incredible financial setback can now be broken into smaller, more affordable monthly payments. As well, repairs can be carried out immediately, meaning less down time.
The company boasts an incredibly high approval rating because they approve loans based on the applicant’s assets, not on their credit history. This allows for even those with poor credit ratings, and even bankruptcies on their records to get the financing they need to get their vehicle back on the road. CARFCO also pride themselves on getting their customers back on the road as quickly and easily as possible, approving loans within 24 hours. “There are no appointments or meetings with bankers. It’s simple, all our clients have to do visit our website to apply.” continued Landers. “Repairers will have applications that their customers will complete and fax to us and once approved, the funds will be sent within 24 hours. It’s a win-win situation for all. Repairers will increase their profitability, while customers will be able to keep their cars on the road.”
CARFCO offers online applications for vehicle owners and online registrations for vehicle repairers interested in offering financing.