deal

Car Capital Closes $20 million Debt Deal With Medalist Partners | State

GRAPEVINE, Texas, April 13, 2021 /PRNewswire/ — Car Capital, an automotive FinTech company, has closed a $20 million credit line with Medalist Partners. This transaction gives Car Capital access to capital to expand their business, fund deals, and ultimately get consumers into cars. Car Capital’s proprietary, web-based platform, Dealer Electronic Auto Loan System (DEALSSM) allows franchise and independent dealers to make 24/7 immediate auto loan decisions for 100% of their customers.

We are thrilled to work with Medalist to grow our dealer network. —Brian Reed, Chairman at Car Capital.

“Car Capital is excited to be able to help our dealer partners offer financing to their customers through the debt we’ve secured with Medalist Partners. We are planning to significantly expand our dealer network and grow our revenue with this additional capital,” said Justin Tisler, Co-founder and CEO at Car Capital. “Medalist has been an invaluable

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How to find a deal

Springtime car-buying season is here, and many hopeful buyers are ending up with a severe case of sticker shock in 2021, because used car prices are higher than ever.

Gary Heflin, owner of Courtesy Automotive, is busy these days.

Eric Oliver, owner of Beyond Exercise gym, has bought two cars from Heflin in the past, and he plans on buying an SUV from Heflin.

“I prefer buying used,” Oliver said. “You can get some good used vehicles in very good shape.”

But used cars are not such bargains anymore, with Edmunds.com reporting prices up 14% over the past year.

Heflin said there are several factors, and one is that new car prices have hit a record high of $40,000 on average.

Combine that with rental fleets no longer flooding the market with cars and buyers flush with stimulus checks, and you have a supply-and-demand imbalance.

“There’s a lot

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(SAII), Avis Budget Group, Inc. (NASDAQ:CAR) – Could Otonomo Be The Best SPAC Deal Of 2021? The Bear Cave Thinks So

Israel-based car data management company Otonomo is going public in a SPAC deal valuing the company at $1.4 billion. The Bear Cave, which normally tries to point out bad companies, shared three key reasons why Otonomo could be the best SPAC for 2021 despite low media exposure.

Large Opportunity: Research firm The Bear Cave believes the opportunity for connected car data is huge and still in the beginning stages. It says Otonomo, going public with Software Acquisition Group II (NASDAQ: SAII), has a large opportunity in the market.

“One opportunity is usage-based car insurance,” the research firm said. This could lead to consumers sharing their data and getting better rates from insurance companies.

Fleet management is mentioned as another area of opportunity within the connected car data market. Avis Budget (NASDAQ: CAR) is mentioned as both a customer of Otonomo and an investor.

Banks could offer more competitive

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How to hunt down a used-car deal from a rental company like Hertz, Enterprise during coronavirus

As Hertz offers to sell thousands of its cars at steep discounts and millions of Americans face financial uncertainty due to coronavirus, now might be a good time to hunt for bargains from rental car companies. 

“There are definitely good deals out there,” said Rick Ricart, president of the pre-owned vehicle dealership Ricart Automotive in Ohio. “Rentals are down, and rental car companies might be getting aggressive to cut their losses.”

But there are also things to look out for. 

Pouncing on a used-car deal just because you see an alluring price could leave you in a financial bind down the line. And with cases of COVID-19 ticking up, buyers should take extra precautions before taking off in a car previously driven by dozens or even hundreds of other people. 

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Here’s how to smartly and safely find a used-car deal from a rental company in the age of COVID-19:

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