This partnership provides payment plans for vehicle service contracts and protection products directly from Tekion’s Automotive Retail Cloud (ARC)

Tekion, innovator of the first cloud-native platform serving the entire automotive ecosystem, today announced their partnership with Service Payment Plan, Inc. (SPP), the auto industry’s leading provider of 0% payment plans for vehicle service contracts and protection products.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231116345345/en/

Tekion and SPP join forces to provide interest-free payment plans when purchasing F&I products, enhancing savings and elevating customer satisfaction during the car buying experience. (Graphic: Business Wire)

Through this partnership, dealers can access SPP’s interest-free payment plans from the Tekion Automotive Retail Cloud (ARC) Desking Menu seamlessly, in real-time via Tekion’s Automotive Partner Cloud (APC). Financing options are presented to the dealership customer, providing flexibility and savings when primary lenders won't offer an interest-free solution. Dealers benefit by increasing the number of touchpoints for consumers to purchase F&I products throughout the ownership of a vehicle, generating additional revenue.

“In today's evolving automotive landscape, empowering consumers with flexible, interest-free financing options is no longer a luxury, but a necessity," said Amit Maheshwari, EVP of Business Development at Tekion. "Our partnership with SPP represents a forward-thinking approach to customer satisfaction, seamlessly integrating top-tier finance options right where dealers and their customers need them. We're not only driving revenue, but we are also reimagining the car-buying journey for the modern consumer."

“SPP is proud to partner with Tekion,” says Charlie Hymen, President at SPP. “Together we provide dealership customers seamless access to SPP’s interest-free payment plan option when purchasing F&I products. It’s been a pleasure working with the Tekion team, and we look forward to continuing to innovate alongside Tekion for years to come.”

ARC is the first and fastest cloud-native platform including all functionalities of a DMS and accompanying tech stack to run a seamless retail business. ARC modernizes the end-to-end automotive retail journey, improves consumer experiences and brings the highest efficiencies to retailers by connecting consumers, dealers and OEMs better than ever before through their cutting-edge platform. SPP allows consumer payments on their own terms in a way that suits their needs. The Tekion/SPP integration is built directly into the retail ARC DMS workflow, enabling staff efficiency, streamlined sales process and improved consumer experience. To learn more, visit https://tekion.com/.

About Tekion

Positively disrupting an industry that has not seen disruption in over 50 years, Tekion has challenged the paradigm with the first and fastest cloud-native automotive platform that includes the revolutionary Automotive Retail Cloud (ARC) for retailers, Automotive Enterprise Cloud (AEC) for manufacturers and other large automotive enterprises and Automotive Partner Cloud (APC) for technology and industry partners. Tekion connects the entire spectrum of the automotive retail ecosystem through one seamless platform. The transformative platform uses cutting-edge technology, big data, machine learning, and AI to seamlessly bring together OEMs, retailers/dealers and consumers. With its highly configurable integration and greater customer engagement capabilities, Tekion is enabling the best automotive retail experiences ever. For more information, visit www.tekion.com.

About Service Payment Plan (SPP)

Service Payment Plan (SPP) is the industry leader in providing interest-free payment plans for F&I products sold throughout the United States and Canada. SPP enables the auto industry’s leading dealers, administrators, and OEMs to provide their customers with an affordable and tailorable method to protect their vehicles. With a 40-year history of unparalleled service, long-standing partnerships, and integrations with the leading software platforms in the industry, SPP stands at the forefront of the future of automotive retail.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231116345345/en/