ROGERS, Ark. -

America’s Car-Mart made a pair of moves before 2020 finished as the chain of buy-here pay-here dealerships expanded its footprint in Oklahoma while also increasing its revolving line of credit.

Car-Mart now has 151 dealerships in its network after bringing aboard its 28th dealership in Oklahoma, which also is the third location to open during it 2021 fiscal year.

The newest dealership is located in Edmond, Okla., at 909 South Broadway.

“A great deal of thought and foresight is placed on our decisions about where to grow. We select communities where we believe we can fill a void when it comes to what we offer at Car-Mart,” Car-Mart president and chief executive officer Jeff Williams said in a news release.

“We’re different from traditional dealerships. In addition to providing quality, used vehicles we also provide financing and exceptional service after the sale. We are committed to providing peace of mind for our customers and we believe communities are better when we are there,” Williams continued.

Car-Mart added that the new Edmond store will be managed by April Renfro.

“We’re excited about joining the Edmond community. It’s a growing area with a lot of potential,” Renfro said.

“At Car-Mart, we offer a unique buying process for our customers where it’s not just a purchase, but an experience. We get to know our customers and work closely with them on flexible financing that meets their needs and budgets,” she continued. “We stay with them throughout their journey from the time they buy their vehicle until they pay-off their vehicle and beyond. We keep them on the road.”

Extra credit availability 

And in other company news, Car-Mart announced on New Year’s Eve that it has utilized a portion of the accordion feature under its third amended and restated loan and security agreement. The company explained the increase allows for total permitted borrowings of $326 million up from $241 million.

Car-Mart highlighted that MUFG Union Bank joined the lending group as a new lender with a commitment of $50 million. The lending group also includes:

— BMO Harris Bank: $71 million commitment
— Wells Fargo Bank: $50 million commitment, up from $30 million
— BOK Financial: $50 million commitment
— First Horizon Bank: $50 million commitment, up from $40 million
— Arvest Bank: $30 million commitment
— Commerce Bank: $25 million commitment, up from $20 million

“We appreciate the continued commitment of our existing lenders and are excited to have MUFG as a new partner,” Car-Mart chief financial officer Vickie Judy said in a news release. “This increase will allow us to continue to grow and make the necessary investments in key areas to provide a foundation for servicing a larger number of customers. 

“The expanded facility will allow us to support our commitment and promise to do whatever it takes to provide customers with excellent service, care and compassion before, during and after the vehicle sale and keep them on the road with peace of mind,” Judy added.