DALLAS -

MUSA Auto Finance is looking to capitalize on the leasing market, especially with more happening digitally nowadays.

This week, MUSA Auto Finance announced plans to expand both its new- and used-vehicle leasing platform nationwide through a partnership with two large U.S. financial institutions working together toward securitization.

Auto Fin Journal asked MUSA Auto Finance representatives for specifics about these financial institutions, but the company said it was not permitted to share those details publicly.

In a news release, MUSA Auto Finance chief executive officer Jeff Morgan shared what details about this development that could be revealed.

“We are excited to continue MUSA’s growth through this exclusive, and we believe, first-of-its-kind funding arrangement,” Morgan said. “We remain committed to increasing the use of what we call intelligent automation here at MUSA.

“In fact, our proprietary leasing and lending platform is very popular with our dealer partners nationwide,” he continued.

Since its inception, MUSA Auto Finance has tried to automate what can be a time-consuming, manual process traditionally associated with leasing and buying a vehicle.

One of MUSA’s technology platforms can process the application, calculate the lease, automatically decision the application provide an approval back to the dealer partner and accurately pre-fills the lease contract in seconds.

The company added that automated approvals normally occur in just a few seconds, and consumers can upload supporting documents via their mobile device.

“My team and I specialize in new and used auto leasing, which has consistently been the biggest growth sector of auto finance for the past several decades. Leasing performs remarkably well in any type of economy when structured properly,” Morgan said.

“In addition, MUSA’s technology and platform have been enhanced to serve higher demand and market expansion, such as retail auto loans, direct-to-consumer for our lease returns and a fully remote leasing and loan experience that can be executed beginning to end, from anywhere,” he continued.

“Our team includes some of the best the industry has to offer, and I intend to make more exciting announcements in the weeks and months to come,” Morgan went on to say.