Back in October 2015, AFS Acceptance chief executive officer Dov Szapiro explained why his company’s decision to sell 65 percent of its equity to Mexican finance institution Credito Real “could not have occurred at a better time.”
Now this summer, a rebranding initiative and expansion strategy are in full swing for the subprime auto finance provider.
A little over two years after being acquired by Mexico City-based Credito Real, AFS Acceptance recently announced it will be changing its name to Credito Real USA Finance (CRUSAfin) as Credito Real begins to expand its brand in the United States.
“We have been very fortunate to have a parent company like Credito Real. With their unwavering support of our platform and the financial resources to back it up, we are now in a good position for growth and we will be leveraging the Credito Real brand to help us achieve new heights,” CRUSAfin chief executive officer Scot Seagrave said.
“Competition is fierce, but I am confident we can provide unique opportunities for our growing dealer base and continue to work closely with our customers by helping them improve their credit through our ‘Better Credit is a Better Life’ initiative,” Seagrave continued.
CRUSAfin offers products for both its franchised and independent dealership partners.
“Working to help dealers find solutions for their traditional subprime customers as well as their customers currently in an open bankruptcy has been our focus over the last several years, and we will continue to grow these market segments,” Seagrave said.
Through a network of dealers across the U.S., consumers can find the vehicle they want and the financing they need.
“In the process, they’ll step onto a path designed to improve their financial future by improving their credit,” Seagrave added.
Additionally, CRUSAfin recently implemented a program focused on helping unbanked customers.
“This effort falls right in line with our parent company's effort to achieve their mission of becoming the largest non-bank financial institution for Latin Americans in the world. We are excited to help them reach this goal,” Seagrave said.
In announcing its name change, CRUSAfin also revealed its new branding in line with Credito Real to support its evolution and expansion in the United States as a leading auto-finance firm. Credito Real was established over 25 years ago and also owns Credito Real Business Capital and Don Carro.
“CRUSAfin’s new brand identity reflects the company's commitment to provide its clients with flexible automotive credit services. The Credito Real USA redesigned website amplifies the company’s online presence and opportunities to current and prospective clients,” the company added.
The company’s new promotional video can be viewed here or at the top of the page.