FARMINGTON HILLS, Mich. — RouteOne recently announced the addition of two new lenders to its platform.

It has completed integration with Liberal Finance Service, a New Jersey-based subprime auto lender, via the Loan Origination System provided by XpressCredit.

Liberal Finance specializes in providing indirect lending solutions to both independent and franchised dealers throughout New Jersey. Its programs are designed to accommodate older, high mileage vehicles, providing dealers a profitable method of disposing of trade-ins.

This is the first such integration to RouteOne utilizing XpressCredit's Loan Origination System, officials noted.

XpressCredit's Loan Origination System is a real-time, fully automated loan decisioning engine. The Web-browser based loan software manages all aspects of loan origination flow in a consistent, efficient and productive manner, according to the company.

Finance sources utilizing XpressCredit's LOS benefit from progressive, cost-effective technology that creates an opportunity for increased loan volume, improved look-to-book ratios and superior customer service, executives added.

"XpressCredit is pleased to bring Liberal Finance Service and RouteOne together in a strategic relationship. It is our goal to exceed the expectations of our lenders and partners by continuously bringing them innovative technology and outstanding service," said Paul Gignilliat, President and chief executive officer of XpressCredit.

"Our partnerships with RouteOne and Liberal Finance Service reinforce our value proposition for our existing relationships," he continued.

Mike Jurecki, RouteOne's CEO, added, "Our integration with XpressCredit allows us to provide our finance sources with additional tools to facilitate the credit application decisioning process.

"Through our integration with XpressCredit, we are providing financial institutions with yet another tool on our platform to earn market share and realize an optimal return on their investment in us," he said.

Integration with Hitachi Capital America

RouteOne also announced that Hitachi Capital America Corp. is now integrated with its Web-based credit application management system.

Hitachi Capital America Corp. is the first commercial finance source to join the platform, and as such will accept business applications on vehicles classified as trucks through the RouteOne credit application management system.

Hitachi Capital America Corp. was formed in the U.S. in 1989 to provide a variety of finance and leasing services to corporate clients. It is a wholly owned subsidiary of Hitachi Capital Corp. and Hitachi Ltd.

More specifically, Hitachi's Automotive Division serves the U.S. commercial truck marketplace. Its programs and services are available through participating truck dealerships nationwide.

Hitachi offers commercial finance loans for new and used vehicles and Trac leases on new vehicles with a variety of monthly term options.

Prime, near-prime, and subprime financing is available on light-, medium- and heavy-duty trucks and trailers. Manufacturer-rate subvention programs are also available through Hitachi's partnerships with Nissan Diesel America, Mitsubishi Fuso Trucks of America and Isuzu Commercial Trucks of America (GMC, Chevrolet, and Isuzu).

In addition to the manufacturer programs, Hitachi's dealer enrollment, which is now up to 1,400 signed dealers, also includes truck makes such as Ford, Dodge, Jeep, Chrysler, International, Hino, Freightliner, Sterling, Peterbilt, Toyota, Volvo and Mack.

"With the addition of Hitachi Capital of America, who provides lending specifically to commercial businesses, RouteOne has dramatically increased its value to our dealers that participate in the commercial space," said Jurecki.

"Hitachi's integration to our portal is well-suited, as our franchised stores account for over 75 percent of the commercial business in the United States," he continued.

Robert Otto, Hitachi Capital America Corp.'s senior vice president and general manager of the Automotive Division, added, "We are excited to be aligned with RouteOne, and we are looking forward to the opportunity to continue to grow our dealer base and gain exposure to new customers.

"We feel that with Hitachi's broad spectrum of financial product offerings and RouteOne's system capabilities, this partnership will only expedite the credit application process for our dealers, which will result in faster approvals and faster fundings. New dealers will find that the Hitachi staff are not only finance people, but first and foremost truck people. We speak the dealer's language and strive to support them with their business needs," he concluded.