LOS ANGELES , June 23, 2021 /PRNewswire-PRWeb/ -- Sunbit, the buy now, pay later (BNPL) technology for everyday needs and services, announced it has been selected by Volkswagen of America as the preferred partner of Volkswagen of America's eConnect Flexible Payment Program. After evaluating several financing providers throughout 2020, Volkswagen of America endorsed Sunbit as its preferred partner in offering access to flexible payment plans to its service and maintenance customers. Volkswagen has 636 dealerships across the nation, with 1 in 4 already using Sunbit technology.
In 2020, 96% of Volkswagen customers who applied for a payment plan through Sunbit were approved, resulting in $3.3M in revenue for Volkswagen dealerships.
"After testing Sunbit against other financial solutions last year, they were the clear winner," said Jon Meredith, Dealer Business Development at Volkswagen of America. "Not only were dealers tremendously satisfied with their performance, but the approval of 96% of Volkswagen customers ultimately drove higher customer satisfaction and loyalty. That's why we're working to get Sunbit technology into more dealerships to serve more customers."
As part of this partnership, Volkswagen of America is offering dealerships using Sunbit's technology benefits like subsidizing a 3-month no interest program from July 2021 until the end of September of 2021. This program will enable qualified Volkswagen customers to spread their payments for service or maintenance across 3 months interest-free, without early pay-off penalties, or added fees. In collaboration with Sunbit's field operations team, Volkswagen will also promote training and competitions for its service advisors to offer Sunbit technology to customers who visit their service center.
"We are honored to be chosen as Volkswagen's preferred partner," said Chad Beasley, Sunbit's Head of Automotive OEM. "We're proud to count Volkswagen among the OEMs endorsing our services. We are happy to see that our technology solutions helped more drivers stay on the road safely and securely. Unexpected expenses like servicing your car can be stressful. Volkswagen's eConnect program with Sunbit can help alleviate that for nearly everyone who applies, while contributing to the dealership's bottom-line."
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About Sunbit:
Sunbit is the preferred buy now, pay later technology for everyday needs and services. Sunbit eases the stress of buying everyday things by offering fast, fair and transparent payment options to people everywhere. Our technology is offered in-store and online at nearly 7000 locations, including 1 in 4 auto dealership service centers, optical practices, dentist offices and specialty healthcare services. All loans are made by Transportation Alliance Bank, Inc., dba TAB Bank, which determines qualifications for and terms of credit.
Media Contact
Brandon Hamm, for Sunbit, +1 6102469908, [email protected]
SOURCE Sunbit
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