Press Release
Impact Auto Auctions Creates Seamless Financing and Buying Experience with Integration of AFC Financing
Published December 12, 2018 - Written by IAA, Inc.
WESTCHESTER, Ill. – December 13, 2018 – Impact Auto Auctions Ltd. and Automotive Finance Corporation (AFC), business units of KAR Auction Services (NYSE: KAR), announce the launch of real-time, convenient, seamless financing and buying options for Impact Auto Auctions customers. Impact Auto Auctions buyers can now view their available AFC credit in real time and floorplan their purchases upon checkout — allowing customers to buy and transport the same day, saving time and potential storage costs.
“Our Canadian customers have asked for more convenience, and we have answered their request with a fully integrated and streamlined purchasing process,” said Blair Earle, managing director for Impact Auto Auctions. “Providing customers with instant access to floorplan financing and giving them immediate snapshots of their available credit helps our customers make quicker buying decisions — generating additional buying opportunity and helping them successfully operate and grow their business.”
Impact Auto Auctions is the leading Canadian salvage auto auction with the largest facility footprint, serving the automotive total-loss industry with more than 14 corporate-owned facilities across Canada. Impact Auto Auction provides a marketplace for the sale and purchase of high-mileage, aged or damaged insurance, rental, fleet, lease, finance and manufacturer vehicles. AFC provides financial and business solutions to independent automotive dealers from more than 100 branch locations throughout the U.S. and Canada.
AFC financing is available to Impact Auto Auction customers on their desktop, tablet or smartphone. Please visit ImpactAuto.ca for more information.
Media Inquiries:
Jeanene O’Brien SVP, Global Marketing and Communications
(708) 492-7328
Analyst Inquiries:
Caitlin Churchill
ICR
(203) 682-8200
About IAA, Inc.
IAA, Inc. (NYSE: IAA) is a leading global marketplace connecting vehicle buyers and sellers. Leveraging leading-edge technology and focusing on innovation, IAA’s unique multi-channel platform processes more than 2.5 million vehicles annually. Headquartered near Chicago, IL, IAA has over 3,600 talented employees and over 190 facilities throughout the US, Canada and the United Kingdom. IAA provides a broad range of services to insurers, fleet and rental companies, rebuilders, charity organizations and financing companies that dramatically reduce the cycle time of selling a vehicle with a focus on delivering the highest economic returns. Buyers have access to the industry’s most-innovative vehicle evaluation and digital bidding tools, enhancing the overall purchasing experience.
Uncertainties Affecting Forward-Looking Statements
Certain statements contained in this release include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and which are subject to certain risks, trends and uncertainties. In particular, statements made that are not historical facts may be forward-looking statements. Words such as “should,” “may,” “will,” “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” and similar expressions identify forward-looking statements. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from the results projected, expressed or implied by these forward-looking statements. Such forward-looking statements include the statements regarding IAA’s future financial and operating performance, benefits and synergies of the separation, strategic and competitive advantages, future opportunities and any other statements regarding events or developments that IAA believes or anticipates will or may occur in the future. We disclaim any obligation or undertaking to update any forward-looking statements. For further discussion of such risks and uncertainties, see “Information Statement Summary,” “Risk Factors” and “Cautionary Statement Concerning Forward-Looking Statements” in the information statement filed as an exhibit to IAA’s Registration Statement on Form 10, as amended.
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