NAPA, Calif. -- AUL Corp., America's largest national provider of used car service contracts announces an expansion of the service contract relationship with Ace Motor Acceptance Company (AMAC). AMAC of Charlotte, a sub-prime lender, and Napa-based AUL VSC's, have been working together to provide automotive dealers traditional financing and service contract options since 2007.
In 2009, AMAC rolled out a secondary financing program designed for Buy Here Pay Here (BHPH) dealers called Buy Here Pay Here in A Box™. The success of this program has been astounding, and in a move to provide more security to the BHPH customers and dealers, AUL and AMAC have created a vehicle service contract program designed specifically for the AMAC BHPH in A Box™ program. This program launched January 1st 2012, and is an unprecedented move in the BHPH financing space.
"AUL truly appreciates the business relationship we have had with AMAC, and this new addition allows more dealers to offer vehicle service contract protection customers want. The buy here pay here space is a challenging one for service contracts and AMAC's innovative leadership is creating terrific opportunities for BHPH dealers," said AUL Chief Operating Officer Jimmy Atkinson.
Wayne Garland, Director of Business Development of AMAC stated, "We could not be more excited to have AUL Corp. on board with BHPH in A Box™ in 2012. AUL Corp.'s partnership of BHPH in A Box™ compliments other services provided by AMAC such as capital funding and floor planning programs offered to buy here pay here dealerships. Since its launch, BHPH in A Box™ has been widely successful. Through this new avenue with AUL Corp., we are confident that our unique secondary financing option will be a more complete program to our BHPH dealers."
The AMAC BHPH in A Box™ program is available to dealers in Delaware, Maryland, Virginia, North Carolina, South Carolina, Georgia, and Tennessee. AMAC is forecasting expansion of this product into several neighboring states throughout 2012. Dealers wanting more information can contact AMAC at 1-800-297-5618 or visit their website at http://www.acemotoracceptance.com
About AUL Corp.
AUL Corp. founded the national used car service contract industry in 1990, with its still famous Any Year, Any Mileage® Vehicle Service Contract. AUL continues leading its industry and is the only provider of its type authorized to conduct business in all 50 States, as well as some Caribbean locations. AUL enjoys a long relationship with its underwriters who hold an A.M. Best rating of "A" Excellent. AUL Corp. also enjoys the longest-term relationships in the industry with its agent and dealer clients, verified by independent third party research. AUL's mission is to be the premier service contract administrator in America, by any quantifiable measurement of business activity. To find out more, please visit http://www.aulcorp.com
About Ace Motor Acceptance Company
AMAC specializes in sub-prime lending and also provides capital funding for BHPH operations. AMAC has a presence in North and South Carolina, Georgia, Maryland, Virginia, Delaware, and Tennessee. With over 100 years of experience in special financing, AMAC's management team presents opportunities to dealers and customers that neither of them had before. Founded in 1988, AMAC is a Carolinas Independent Automobile Dealers Association (CIADA) endorsed business partner. The addition of the BHPH service contract program will strengthen and further the existing relationship between AMAC and AUL.