DriveTime Investor Relations

Founded in 1992, DriveTime is the leading used vehicle retailer in the United States with a primary focus on the sale, lease and financing of quality used vehicles and related products to the subprime market. DriveTime is a privately held company that operates a fully integrated business model. Through our branded dealerships and loan servicing centers, 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 focus 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 multi-point inspection.
• 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
  Through Bridgecrest™, our sister company, we perform all servicing functions for our loan portfolio, from collections through the resale of repossessed vehicles. Our collections are centralized into two regional collection facilities and our collections teams use sophisticated systems in our collection strategy.
• After sale support
  As a part of our commitment to supporting our customers even after they purchase a vehicle, we provide a 30 day limited warranty on each vehicle we sell. We also offer DriveCare, a 36-month/36,000 mile (5-Year/50,000 Mile in some states) vehicle protection plan and extended powertrain coverage. DriveCare or other products may be purchased separately at time of sale. See dealership for details.