Acima and 1stMILE Have Joined Forces to Make Automotive Financing a Breeze
Automotive financing is now more accessible, thanks to a new strategic partnership between Merchant Partners — owner of the nation’s leading automotive payment management software, 1stMILE — and Acima Credit. This point-of-sale software integration will make No Credit Needed financing more readily available to subprime markets throughout the country, which is expected to increase revenue growth for automotive shops in economically vulnerable markets.
Curious how it works? The 1stMILE software recognizes when a customer is denied credit and automatically recommends other options, including No Credit Needed financing through Acima Credit. It’s estimated that 40 percent of Americans suffer from damaged credit scores or a lack of credit history. With a 90-day payment option and direct reporting to Experian, we can help consumers spread payments out over time and establish a credit history. By offering these options, we help merchants increase revenue and gain customers who would have been lost to credit denial.
“Our top priority with 1stMILE is to get more cars on the lifts for our customers and grow their revenue,” said Bob Church, SVP of Sales and Marketing with Merchant Partners. “The Acima program is a key contributor to help us get this done, and we’re excited by how this partnership can help our customers boost their profits.”
“We believe that our customers are more than just a credit score,” said Aaron Allred, founder and CEO of Acima Credit. “Acima’s quick and easy point-of-sale financing helps consumers in economically vulnerable markets with the much-needed resources to fix their cars when economic conditions have left them in a tight spot.”
This software currently serves more than 8,000 automotive locations nationwide, providing them with a suite of financial-integration tools that help maximize revenues and lower costs, all without a markup for payment processing. With this new partnership, No Credit Needed financing will be offered through nearly two dozen automotive point-of-sale systems that are integrated with the 1stMILE platform.
“The 1stMILE/Acima integration is second-to-none,” said Jason Burt, who manages three Burt Brothers Tire locations in the Salt Lake City metro area. “It gets us more work orders. It gets us higher ticket totals. It gets us all the things that pump our business. From an owner’s perspective, it’s something every [tire] company should have. Bar none, it’ll increase revenue.”
If you’re already working with us, that’s great! You’re well aware of the power our No Credit Needed financing can provide your bottom line. We recommend adding the 1stMILE platform to take full advantage of the added revenue and reduced costs that come with this powerful partnership. To learn more, visit our website or chat with our customer service (Monday through Saturday, 7 a.m. – 9 p.m.). We’re here to answer any questions you may have and get you on the path to serving even more customers!