DRIVRZ Financial has access to USD 2 Billion in renewable EV Lease Lines
TORONTO, ON / June 10, 2021 / PowerBand Solutions Inc. (TSXV:PBX) (OTCQB:PWWBF) (FSE:1ZVA) (“PowerBand“, “PBX” or the “Company“) is pleased to announce the Premier Automotive Group (“Premier Auto“) will be leading its electrical vehicle leasing pilot under DRIVRZ Financial, Powerband’s leasing division.
“Premier Automotive is one of the United States top automotive dealership groups, known for innovation and cutting-edge customer service.” said DRIVRZ Financial CEO, Jon Lamb. “This is another advance by DRIVRZ into the electric vehicle market, where we aim to be the leader in meeting consumer and auto dealer demands for EV financing solutions. There is currently a lack of EV leasing options for many of the new EV’s being introduced in the market and our aim is to address that.”
“We are delighted to offer our dealerships and their customers direct access to DRIVRZ Financial lease financing for both new and used electric vehicles,” added Troy Duhon, founder of Premier Automotive. “We believe that our customers will respond favorably to a reliable source of EV leasing options.”
Founded in 1995, Premier has 21 dealerships in California, Kansas, Louisiana, Texas and Missouri. Automotive News highlighted Premier Automotive Group as one of the fastest and most innovative automotive dealerships in the United States, with more than $1 billion in sales.
On May 4, 2021, PowerBand announced it had secured access to two US $1 Billion lease lines targeted towards the DRIVRZ EV leasing initiative on DRIVRZ Financial platform (formerly MUSA Auto Finance). The new EV lease lines, which can be expanded as demand increases, have been made available from Unify Financial Credit Union and Valley Strong Credit Union, two of the United States’ leading credit unions.
About PowerBand Solutions Inc.
PowerBand Solutions Inc., listed on the TSX Venture Exchange and the OTCQB markets, is a fintech provider disrupting the automotive industry. PowerBand’s integrated, cloud-based transaction platform facilitates transactions amongst consumers, dealers, funders and manufacturers (OEMs). It enables them to buy, sell, trade, finance, and lease new and used, electric- and non-electric vehicles, on smart phones or any other online digital devices, from any location. PowerBand’s transaction platform – being trademarked under DRIVRZ – is being made available across North American and global markets.
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