ACV Capital Launches New Online Portal For All ACV Capital Floorplan Customers

ACV Capital’s new self-service portal offers real time access to credit line details, payment information and invoices.

BUFFALO, N.Y., May 02, 2022 (GLOBE NEWSWIRE) -- ACV (Nasdaq: ACVA), the leading digital automotive marketplace and data services partner for dealers and commercial partners, announces the launch of a self-service portal for ACV Capital dealer customers. The new portal equips ACV’s country-wide dealer customers with access to a seamless post-auction financing solution through its dedicated floorplan program. The new self-service portal is available today and can be found in the top navigation bar on the ACV home page. ACV Capital’s new portal experience builds upon the existing dealer payment page, adding new levels of convenience and autonomy.

“ACV is a digitally native company committed to offering transparency, and ACV Capital’s new portal aligns perfectly with our commitment to leveraging digital solutions that provide easy-to-use solutions and transparency to our dealer partners,” said Shayan Khawja, General Manager of ACV Capital. “We always look to our dealers for feedback, and when they ask, we listen. This is just the beginning. We will continue to evolve the capabilities of this product as we gain additional dealer feedback. Our goal is to make the vehicle financing process intuitive and easy to engage with. As a high tech, high touch company, ACV remains committed to delivering a new level of self service and dealer engagement, however our people are always available to our customers whenever needed.”

Within the ACV Capital portal, dealers will now have 24/7 self-service access to view critical data online including total credit line limits, used credit across open invoices and available credit for new purchases. Payment information will also be displayed, showing both the dealer’s last payment made and next payment due. An additional section highlights any open invoices on the dealer’s account, which can be searched for and filtered down by VIN, make, model and year to help dealers quickly find, review and pay. Available payable invoices will be provided with a “Pay Now” option for seamless integration with the existing payment experience.

ACV Capital was created to provide flexible financing options and a streamlined, transparent post-auction financing process. In June 2021, ACV Capital announced three new product offerings that extended the title receipt period, and delivered payment period options for vehicles with absent titles and credit lines for high volume sellers.

ACV has continued to develop innovative digital solutions for our dealers and partners, as shown by today’s announcement and by in-progress additional capabilities for the ACV Capital portal, anticipated to be available later this year, such as displaying title status and image.

For more information on the ACV marketplace, visit www.acvauctions.com. For more information on ACV’s family of brands, visit www.acvauto.com.

Forward-Looking Statements

This content contains “forward-looking statements”. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will” or “would” or the negative of these words or other similar terms or expressions. You should not rely on forward-looking statements as predictions of future events.

The forward-looking statements contained in this content are based on ACV’s current assumptions, expectations and beliefs. These forward-looking statements are subject to a number of risks and uncertainties, many of which are difficult to predict and beyond ACV’s control, which could cause actual results to differ materially from those indicated in the forward-looking statements, but are not limited to, developing and delivering new functionality for the ACV Capital portal, and the risk factors set forth in ACV’s filings with the Securities and Exchange Commission, including ACV’s most recently filed Annual Report on Form 10-K .The forward-looking statements made in this content relate only to events as of the date on which the statements are made. We undertake no obligation to update any forward-looking statements made in this document to reflect events or circumstances after the date of this document or to reflect new information or the occurrence of unanticipated events, except as required by law.

About ACV
ACV is on a mission to transform the automotive industry by building the most trusted and efficient digital marketplace and data solutions for sourcing, selling and managing used vehicles with transparency and comprehensive insights that were once unimaginable.

ACV’s network of brands includes ACV Auctions, ACV Transportation and ACV Capital within its Marketplace Products as well as True360, MAX Digital, Drivably and Monk SAS. For more information about ACV, visit www.acvauto.com.

Trademark reference: ACV and the ACV logo are registered trademarks or trademarks of ACV Auctions Inc, Inc. or its affiliates in the United States and/or other countries. All other trademarks referenced herein are the property of their respective owners.

Media Contact:
Maura Duggan
maura@acvauctions.com

Released May 2, 2022