PWWBF - MUSA Auto Finance partners with two large financial institutions and is signing up dealers at a record pace

PR Newswire

DALLAS, Nov. 3, 2020

DALLAS , Nov. 3, 2020 /PRNewswire/ -- MUSA Auto Finance, an automotive finance and technology lender specializing in effortless leasing, has announced its plans to expand both new and used car leasing nationwide through a partnership with two large U.S. financial institutions working together toward securitization.

"We are excited to continue MUSA's growth through this exclusive, and we believe, first-of-its-kind funding arrangement. We remain committed to increasing the use of what we call intelligent automation here at MUSA. In fact, our proprietary leasing and lending platform is very popular with our dealer partners nationwide," said Jeff Morgan , CEO of MUSA Auto Finance.

"My team and I specialize in new and used auto leasing, which has consistently been the biggest growth sector of auto finance for the past several decades. Leasing performs remarkably well in any type of economy when structured properly," Morgan said. "In addition, MUSA's technology and platform have been enhanced to serve higher demand and market expansion, such as retail auto loans; direct-to-consumer for our lease returns; and a fully remote leasing and loan experience that can be executed beginning to end, from anywhere. Our team includes some of the best the industry has to offer, and I intend to make more exciting announcements in the weeks and months to come."

Since its inception, MUSA has automated the time-consuming, manual processes traditionally associated with leasing and buying a vehicle. One of MUSA's technology platforms processes the application, calculates the lease, auto-decisions the application, provides an approval back to the dealer partner, and accurately pre-fills the lease contract in seconds. Automated approvals normally occur in just a few seconds, and consumers can even upload supporting documents via their mobile device.

About MUSA Auto Finance
MUSA Auto Finance is an auto finance company and a technology innovator in the new and pre-owned vehicle industry. The company originates its customers from franchised and select independent dealers.

In 2019, MUSA partnered with PowerBand Solutions, Inc. (TSXV: PBX) (OTCQB: PWWBF) ( Frankfurt : 1ZVA) ("PowerBand", "PBX" or the "Company").

FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements relating to the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. As a result, we cannot guarantee that any forward-looking statement will materialize, and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as at the date of this news release, and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States . The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.

SOURCE MUSA Auto Finance