ATLANTA -

You now can add three F&I solutions to what Cox Automotive can provide to dealerships.

Officials highlighted on Thursday that GO Financial and NextGear Capital affiliated dealers will soon be able to offer warranty, insurance and theft recovery products to consumers as a result of Cox Automotive’s strategic investment in SilverRock Holdings.

The company announced the acquisition of a minority interest in SilverRock Holdings — majority owned by Ernest Garcia and Ray Fidel of DriveTime Automotive — through their separate company, Oreno Holdings. SilverRock Holdings provides F&I products such as extended vehicle service contracts, global positioning system (GPS) theft recovery products, guaranteed asset protection products (GAP) and auto insurance solutions to consumers through independent and franchised dealers.

Brian Geitner, president of financial services and NextGear Capital, explained this investment in SilverRock Holdings provides Cox Automotive dealer customers opportunities to offer products in the rapidly growing finance and insurance space. Geitner also noted that it supports the need for retail customers across the credit spectrum to have better options for insurance needs and to protect themselves against unforeseen mechanical failures, accidents and theft.

“Our stake in SilverRock Holdings supports our goals of delivering the types of products and services that dealers need to grow and compete. The aftermarket vehicle ancillary products industry is highly fragmented,” Geitner said.

“This partnership will offer GO Financial and NextGear Capital affiliated dealers a greater variety of services, creating a one-stop approach and a more efficient transaction for retail customers,” he went on to say.

Cox Automotive indicated the transaction closed on Dec. 31. SilverRock Holdings owns the following warranty and insurance companies:

1. SilverRock Automotive: a vehicle service contract administrator and obligor

2. SilverRock Insurance: an online insurance agency

3. BlueShore Insurance Company: a property and casualty insurance company

“This new arrangement with Cox Automotive is a result of our close collaboration and mutual desire to offer our clients what they need and want to succeed,” said Garcia, who is the DriveTime chairman and majority owner of equity partner Oreno Holdings.

“Our deep knowledge of the subprime vehicle market and independent dealers pairs well with Cox Automotive’s expansive products and services across the automotive ecosystem,” Garcia added.