Canadian fintech startup FIX4 set to transform car repair loan market

Canadian fintech startup FIX4 set to transform car repair loan market

Published: 18-03-2021 12:10:26 | By: Pie Kamau | hits: 299 | Tags:

Canadian retail finance startup FIX4 Capital has joined the "Buy Now Pay Later" boom by offering instant online loan approvals so customers can enjoy flexible payment solutions for any car repair and maintenance estimates.

With no credit checks or income verifications required customers can instantly find out their maximum eligible loan amount simply by providing their vehicle's basic details (make, model, year, and mileage) on a DLP [Digital Lending Platform].

FIX4's founding team, which includes former president & CEO of ADESA Inc., Stephane St-Hilaire, and former VP & General Manager at autoTrader.ca, Chris Harvey brings a wealth of experience in product design, financing, networking, sales, and marketing. FIX4's CEO, Tave Della Porta, a veteran of the fintech and automotive sector, understands the need for competitive borrowing costs and affordable interest rates. With rates comparable to most major credit cards, FIX4 aims to reduce denied or delayed work, and ensure customers can get back on the road safely.

Tave Della Porta, CEO, FIX4: "We fundamentally believe that everyone should have equal access to affordable and flexible financing when it comes to having their automobile repaired. We entered the market looking to disrupt the high-interest lenders. Our rates are equally low for everyone, no matter what their credit or income situation is. We have no hidden fees and no gimmicks. Based on their car value, anyone can get a loan from $500 to $7,500 with terms up to 36 months." 

Car owners often forego repairs due to a lack of access to funds which directly impacts auto repair center revenues and performance. "We believe that what is best for the customer is best for the business," says Della Porta. "Affordable and flexible auto repair financing is something that garages, collision centers, and dealerships can get behind because it means customers will be more satisfied knowing that they can rely on reasonable pricing as much as they can on quality work.".

Stephane St-Hilaire, Board Member, FIX4 Capital: "We are looking to set a new industry standard with our business model. In an instant, registered service centers and their customers can complete the seamless onboarding process. It is the fastest, most inexpensive, and transparent financing service available in the industry. The FIX4 team of investors, board members and executives are an accomplished group of entrepreneurs and seasoned automotive execs with impressive track records of building great technology solutions that bring value to their business partners in a transparent and ethical manner. We are best positioned to serve emerging consumer needs and enhance our registered service centers' capability to offer payment options on any work order."

fix4.com