Coinciding with S&P Global Mobility discovering the average age of vehicles on the road is 12.6 years — an all-time high — Sunbit highlighted its own milestone on Thursday, announcing its buy-now, pay-later financing technology is available at more than 50% of dealership service centers in the U.S.

Since launching in the auto services sector, Sunbit said it has facilitated $1.7 billion in revenue while helping more than 1.8 million dealership customers.

The company also mentioned more than 90% of people who applied for financing through Sunbit technology were approved. And more than 75% of approved consumers decided to move forward with the financing offer.

Sunbit technology is available at 24 of the top 25 U.S. auto groups and endorsed by 15 OEMs: Acura, Audi, BMW, Honda, Hyundai, Infiniti, Jaguar, Kia, Land Rover, Mazda, Mercedes Benz, Mini, Mitsubishi, Nissan and Volkswagen.

“With best-in-class terms that are broadly appealing, no fees, and true transparency, Sunbit technology has options that are not just right for some customers, but for virtually every customer.” Volkswagen national service operations manager Jon Meredith said in a news release from Sunbit.

“There are two reasons more than 65% of our dealerships are offering Sunbit to their customers, day in and day out. Sunbit helps us deliver excellent customer experiences and it also helps us drive better bottom-line revenue. We have seen a 23% YoY growth rate in 2023 in service revenue with Sunbit and are projecting a higher growth trajectory in 2024. And, our customers love it,” Meredith continued.

Sunbit technology also is integrated with tech providers such as Xtime, Tekion, Dealer Tire, TruVideo, MyKarma and UpdatePromise.

Approved applicants get access to three-month, 0% payment plans at participating service drives, according to Sunbit, which said its technology has a simple application process with more than 90% approval rates.

The BNPL platform can be accessed in-store through a tablet app or remotely through a customer’s connected device. It is also integrated into an online checkout process.

“Our technology solution is helping to build a bridge between the advisor and the customer. Where Sunbit is available, advisors are more comfortable discussing recommended work, and customers feel good about their decision to move forward with service recommendations,” Sunbit chief revenue officer Tal Riesenfeld, said.

“Today, if you walk into any dealership’s service drive, you are more likely to see Sunbit than not, and we are proud to have helped many customers while assisting service centers in driving $1.7 billion in repair revenue,” Riesenfeld went on to say.