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SOURCE Insurance Auto Auctions, Inc.
New Functionality Gives Buyers More Power to Finance Vehicles Online with AFC
WESTCHESTER, Ill., Dec. 10, 2013 /PRNewswire/ -- Insurance Auto Auctions, Inc. (IAA), the leading live and live-online salvage auto auction company and wholly-owned subsidiary of KAR Auction Services, Inc. (NYSE: KAR), today announced significant enhancements to its financing and payment services capabilities through the IAA Auction Center, IAA's unique online marketplace that allows buyers to search inventory, purchase vehicles, and manage their accounts at any time. Through the newly launched enhancements, licensed IAA buyers now have the ability to access Automotive Finance Corporation (AFC) credit availability online through the IAA Auction Center. The new online offering is designed to create a truly mobile experience for buyers, giving customers the power to finance vehicles online anywhere at any time using their AFC line of credit.
The new enhancements leverage IAA's longstanding partnership with AFC, a subsidiary of KAR Auction Services, Inc. and a premier provider of inventory financing assistance in North America. Licensed buyers now have the ability to quickly and easily manage financing from AFC through the IAA website, and effective December 13th, buyers can also access AFC financing from IAA's mobile site, m.iaai.com. Customers can seamlessly make payments for won vehicles through either site.
Further developments are also planned to IAA's mobile app for iPhone, iPad or Android as well as DDR to allow buyers access from any computer, tablet or smartphone.
"Providing access to credit online is yet another testament to our investment in technologies that help our customers achieve better business results," said Tom O'Brien, chief executive officer of Insurance Auto Auctions, Inc. "Through our partnership with AFC, we are proud to offer this new functionality that will give our buyers the power to floor vehicles online and ultimately help them expand their purchasing power, and extend their online buying capabilities."
"We are continuously looking for ways to make things easier for our customers, and we're extremely excited about the enhancement that IAA is making to their online buyer payment and checkout process in the Auction Center," added John Hammer, president and chief operating officer of AFC. "This key technology initiative will further enrich our shared buyer's experience."
All eligible customers must be registered buyers of the IAA Auction Center and eligible, contracted AFC customers in good standing. IAA's Buyer Services group is available to provide assistance with IAA registration, bidding and payments. Visit the IAA Auction Center for more information or contact Buyer Services at (Toll Free) 877-937-4243 or (Toll Call) 708-492-7080. For questions related to AFC financing, interested buyers can contact AFC directly at 888-335-6675 or online at www.AFCDealer.com.
About Insurance Auto Auctions, Inc.
Insurance Auto Auctions is the leading live and live-online salvage vehicle auction company and a wholly-owned subsidiary of KAR Auction Services, Inc. (NYSE: KAR). Headquartered in Westchester, Illinois, IAA has over 160 auction facilities throughout North America offering towing, financing and titling services. With the most auction facilities in North America, IAA provides registered buyers from around the globe with millions of opportunities to bid on and purchase donated and salvaged vehicles. Since 1982, IAA has sold millions of vehicles through its weekly auctions for insurance companies, fleet and rental companies, financing companies, charity organizations and the general public. IAA also leverages its business model to assist charitable organizations in the US through its One Car One Difference® campaign. To date IAA has provided millions of dollars in additional funding to charities by assisting in the processing of donated vehicles. Learn how we are making a difference by visiting www.1car1difference.com. With a talented team of over 2,000 employees, IAA is committed to providing customers with the highest level of services in the salvage auto industry. Go to www.IAA-Auctions.com to learn more, and follow IAA on Facebook and Twitter.
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