Corporate Profile

DriveTime is the leading used vehicle retailer in the United States with a sole focus on the sale and financing of quality vehicles to the subprime market. Through our branded dealerships, we provide our customers with a comprehensive end-to-end solution for their automotive needs, including the sale, financing, and maintenance of their vehicle. We provide our customers with financing for substantially all of the vehicles we sell. We maintain our loan portfolio and related financings on our balance sheet.

We have developed an integrated business model focused on giving our customers the ability to acquire quality used vehicles through six key activities:

• Vehicle acquisition. We acquire inventory primarily from used vehicle auctions. Our national vehicle selection strategy utilizes a centralized process and employs a team of our own buyers purchasing from over 140 auctions nationwide.
• Vehicle reconditioning and distribution. Subsequent to acquisition, vehicles are transported to one of our regional reconditioning facilities, where we recondition the vehicles and perform a rigorous multi-point inspection for safety and operability.
• Vehicle sales. We focus on selling quality used vehicles with affordable payments through our extensive network of company-owned dealerships. Our dealerships maintain a range of approximately 60-70 vehicles with vehicle ages generally ranging from three to seven years.
• Underwriting and finance. Using information provided as part of the credit application process, our centralized proprietary credit scoring system determines a customer's credit grade and the corresponding minimum down payment and maximum installment payment. We monitor the performance of our portfolio and close rates on a real-time basis, allowing us to centrally adjust pricing and financing terms to balance sales volumes and loan performance.
• Loan servicing. We perform all servicing functions for our loan portfolio, from collections through the resale of repossessed vehicles. Our collections are centralized into four regional collection facilities and our collections teams use an automated dialer and messaging systems in our collection strategy.
• After sale support. As part of our no-haggle vehicle sale price, we provide our DriveCare limited warranty; a 36 month/36,000 limited mile warranty, including oil changes at Sears Automotive locations nationwide and 24/7 roadside assistance, on each vehicle we sell.

Corporate Governance & Compliance

Financial Documents & Presentations