For Immediate Release
LITTLETON,
CO – September 20, 2016 - PassTime,
an industry leader in GPS Tracking Solutions, announced today a strategic
partnership with Customized Dealer Financial Solutions LLC (CDFS), which
provides underwriting predictive modeling and analytics to BHPH dealerships to
help reduce their repossessions and improve their profitability and cash flow.
The partnership will focus on cross marketing and
promotion to benefits both firms’ current and potential customers.
PassTime, which has been in business
for nearly 25 years offers wireless GPS telematics products that are available
for multiple sectors of the automotive industry including new and used auto
dealers, auto finance companies, auto leasing companies, insurance companies
and fleet transportation providers.
CDFS offers customers underwriting predictive
modeling (UPM) through artificial intelligence, rather than the industry’s
traditional scoring. The UPM’s utilize the dealership’s own data, as opposed to
generic industry data, to reduce repossessions – especially the quick ones –
without reducing sales volume. CDFS’ analytics help dealerships manage each
facet of the business, with an emphasis on significantly improving profit and
cash flow.
“We are
excited about the CDFS relationship. It
is an impressive program that our customers can really benefit from,” said
Chris Macheca, COO at PassTime. “PassTime makes it a point to partner with
industry leaders and companies that offer innovative and valuable solutions – I
think CDFS fits in perfectly.”
Ted Lange, President of CDFS, stated: “CDFS looks
forward to providing tangible benefits to PassTime’s customers in the form of
improved loan performance, increased profitability and stronger cash flow. CDFS
formulates UPM’s based on a dealership’s own data and quantifies these benefits
at CDFS’ cost before the dealership decides whether it wishes to enroll in a
month-to-month relationship. Dealerships benefit additionally from a legal
opinion by the leading consumer credit compliance authority, Hudson Cook, LLP,
that the UPM’s are compliant with the CFPB’s interpretation of applicable laws
and regulations.”
For more information about CDFS or PassTime, please
call 800-828-1564 or email info@passtimegps.com
About
PassTime
PassTime GPS has been in
business for nearly 25 years in the global transportation industry. Our
wireless GPS telematics products are available for multiple sectors of the
automotive industry including auto dealers, auto finance companies, auto
leasing companies, insurance companies and fleet transportation providers. Our
products are available in the USA, Canada, Europe, Latin America, Asia Pacific
and the Middle East. We design, engineer, manufacture and distribute our own products
and we have more than 25 patents protecting our technology. Visit www.passtimegps.com for more information or email info@passtimegps.com
About CDFS
The company was founded in 2015 by Ted Lange, who
previously owned and operated the PAACO Automotive Group, a BHPH dealership,
for more than twenty years. Lange’s
objective is for other BHPH dealerships to benefit from the same UPM and
analytics expertise he used while at PAACO. For more information about CDFS, visit customizeddfs.info