This summer, DigniFi gained nearly $300 million in resources to boost its vehicle-repair financing platform and landed a relationship Cox Automotive to launch FlexPay, an easy-to-use payment option offered directly through the Xtime platform.

On Thursday, DigniFi’s momentum continued with an endorsement from Volkswagen of America as a preferred vendor in its eConnect Flexible Payment Program.

Volkswagen’s 636 U.S. dealerships now can partner with DigniFi to offer service center customers access to financial flexibility in these trying times. DigniFi can enable customers to apply for short-term financing on their smartphone and receive an instant decision.

On average, dealerships that offer DigniFi increase service revenue by 20% annually, according to the company.

Today amidst the COVID-19 pandemic, DigniFi acknowledged that young working Americans increasingly depend on their vehicles for safe mobility. More driving entails more maintenance, and a recent LendingTree study found that 43% of all U.S. drivers, and 58% of millennials, have gone into debt as a result of vehicle trouble.

Furthermore, that survey showed 21% of these drivers accumulated this debt after the pandemic began. Nearly six out of 10 Americans, including 71% of millennials, have skipped necessary repairs because they cannot afford them, according to that survey.

Perhaps if these individuals seek repair assistance at Volkswagen dealership, they might be able to get assistance through DigniFi’s platform.

“COVID-19 has left young people in such a state of financial insecurity that many are choosing to skip repairs that are vital to the longevity and safety of their vehicle,” DigniFi chief executive officer Richard Counihan said in a news release. “In partnership with Volkswagen, we are changing that.

“We applaud Volkswagen for supporting flexible payment options that serve customers in their time of need,” Counihan continued.

DigniFi’s financing platform can help drivers afford repairs by providing access to flexible payment options and 0% financing for those who qualify. Customers complete the financing application on their personal smartphone in just a few minutes, ensuring a safe, contactless process for dealership staff and customers.

The company said approval rates on DigniFi’s platform are two times higher than the average credit card, serving customers across a wide range of FICO scores.

To date, more than 5,000 dealerships and auto service centers in the U.S. have used DigniFi to increase profitability and customer retention.

“Volkswagen owners should never have to choose between fixing their car and affording other basic necessities,” said Julia Howard, service lane technology business development specialist at Volkswagen of America.

“We are committed to offering the flexibility and understanding our customers need in these trying times. With the help of DigniFi, we will get our customers back on the road,” Howard went on to say.

Volkswagen dealers can visit dignifi.com/partners to get started with DigniFi.