On 31st March 2017, Automotive Financial Services acquired the Aussie Car Loans group of brands, intellectual property, trademarks and websites from Advantage Broker Services.
"We are especially pleased to announce the acquisition of the Aussie Brands, IP & websites and we are excited about the potential growth opportunities it provides our finance company, Automotive Financial Services (AFS)," says Brad Dale, Executive Director - AFICO.
"What this deal means for Aussie is that it will no longer operate as a finance broker but rather as a division of a finance company. We agreed to only acquire the IP and not the business in order to fast track the transition and to also fully comply with various covenants. We see great upside in this model and the opportunity to further develop the brand, streamline processes & enhance our product offering." says Mr Dale.
The Aussie group specialises in the web based lead generation and loan origination for various forms of asset finance.
The business operates under a number of specialist brands including but not limited to:
Aussie Car Loans is a well recognized and trusted brand of Aussie Finance Pty Ltd ACN 115 027 140 Credit Representative Number 496991. The business has been operating since 1996 and is a credit representative of Automotive Financial Services Pty Limited ACN 003 622 375 Australian credit licence 383762 (AFS) – a licensed credit provider that was founded in 1988.