eLEND Solutions 2.1

The eLEND Solutions platform provides integrated online and in-store credit, financing, and deal-structuring software designed to streamline and expedite the vehicle purchasing process for car buyers, dealers, and lenders. This technology significantly reduces transaction times from hours to minutes, enhancing overall efficiency.

Results observed with the ID Drive product include:

• Reduction of transaction times by approximately 60 minutes
• An average profit increase exceeding $300 per vehicle sold
• Variable cost savings of over $200 per vehicle
• A consistent closing ratio of 43%
• 43% of licenses flagged for specific considerations
• 53% of users opted in for pre-qualification processes
• An average credit score of 703 among users
• An uplift of +4 percentage points in customer satisfaction indexes (CSI)

The Credit Plus product demonstrates notable performance metrics, including:

• Conversion rates from initial credit applications that are 12 times higher than industry averages
• Over 50 credit applications submitted monthly on average
• A click-to-submit rate exceeding 50%
• More than 30% of submitted applications result in dealer closures
• An average of 54 credit applications per dealer at the national level
• A national average cost of approximately $7 per credit application
• An average cost of around $25 per completed sale
• The top 100 subscribers submit approximately 344 credit applications on average
• Achieved closing ratios around 30%