Car4Cash Unveils Its Revamped Brand Role Go Forward with Car4Cash To Target Gen-Y Entrepreneur Segment

Stocks and Financial Services Press Releases Wednesday September 5, 2018 14:26
Bangkok--5 Sep--FleishmanHillard

Car4Cash, a leader in the automotive refinance market, takes on a new brand role of an alternative funding source with support programs that help open up new opportunities for car owners. Introducing the concept "Go Forward with Car4Cash", the brand aims to capture the untapped segment of Gen-Y business owners through a loan offering with no requirement for a business plan, specifically answering to the needs of young entrepreneurs. This repositioning campaign is expected to drive this year's new lending volume to 33.3 billion baht.

Mr. Pornthep Tirasuntrakul, Senior Vice President, Head of Krungsri Auto Marketing Division, Bank of Ayudhya PCL, said "For 15 years, Car4Cash has been the top-of-mind brand for customers, who are seeking financial liquidity with fast-track services. It has always been our aspirations to consistently strengthen our product offerings and respond to constantly changing consumer lifestyles. Recognizing the brand'sdiverse functions, we strive to fulfill its potential as an alternative source of fund for car owners and provide them with advisory when they work to achieve their goals."

With the new concept "Go Forward with Car4Cash", the brand is establishing the new role as a funding source that propels business growth, in addition to the loan product that helps reduce financial burdens. It is launching a television commercial featuring renowned radio personality and columnist Weera Theerapat as the representation of the revamped brand role. The campaign targets Gen-Y business owners (aged between 24-38 years old), which have seen a rise in number for the past three years but remain largely untapped by loan service providers. Currently, entrepreneurs who are looking for sources of fund to expand their business tend to apply for an SME loan, which usually requires a business plan, a financial statement and collateral assets, such as properties or savings, for approval. Therefore, for young entrepreneurs whose businesses recently begin operation or are still relatively small, securing a fund of approximately 400,000 – 500,000 baht is proved to be particularly difficult.

Car4Cash sets to provide the new generation of business owners with easier access to funding sources with its new hassle-free loan features forentrepreneurs: no business plan required for approval, at least 1-year operation and field verification support to ease concerns regarding unqualified financial statements. To assist customers in boosting their business growth, privilege programs will also be rolled out, starting with a free SIM card with 12-month unlimited internet usage and free calls within AIS network, valued 1,926 baht, when applying for loan via online channels.

"As the Market Shaper, Car4Cash is the first brand to provide auto finance services that directly address the needs of small business owners.Through this repositioning campaign, we also aim to be the Financial Advisor that opens up business opportunities for the new generation of entrepreneurs who are becoming the major driving force behind Thai economy. With more marketing activities to be implemented throughout the year, Car4Cash 2018 new lending volume is expected to reach 33.3 billion baht, an increase of 15% from the previous year, reinforcing its leadership in the automotive refinance market," concluded Mr. Pornthep.

The New Experience with Krungsri Auto

Krungsri Auto, a leader of automotive finance business under Krungsri, offers a variety of loan services, including "Car for Cash", "Krungsri Rod Baan", "Krungsri New Car", "Krungsri Used Car", and "Krungsri Truck" operated by Krungsri Auto Group, Bank of Ayudhya Public Company Limited, "Krungsri Motorcycle", "Krungsri Big Bike", "Krungsri Used Big Bike" "Krungsri Inventory Finance" as well as insurance services, operated by Ayudhya Capital Auto Lease Public Company Limited.

Customers can access these financial services through Krungsri Auto's 51 branches and the Bank of Ayudhya's branches nationwide, Thailand Post Offices, Counter Service Outlets at 7-Eleven and Krungsri Auto Call Center (tel. 02-740-7400, press 1).Visit www.krungsriauto.com or www.facebook.com/krungsriauto for more details.

For more information, please contact:
Krungsri Auto Communications & Public Affairs Department, Bank of Ayudhya PCL
Khanut Bunnooklub Tel. 02-708-8130 email: khanut.bunnooklub@krungsri.com
Paopang-nga Sutin Tel. 02-708-8131 email: paopang-nga.sutin@Krungsri.com

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