Access Finance Expands Their Presence With The Purchase of Townsgate Capital’s Auto Portfolio – Formerly Known as Topa Financial
Since 2004 Access Finance has specialized in sub-prime auto finance Including the bulk purchases and service of retail auto contracts.
Los Angeles, California, June 22, 2023, Access Finance continues to climb the ladder on their ascent to the pinnacle of the sub-prime auto finance sector. This has been made evident with the purchase of Townsgate Capital’s Auto Portfolio, formerly known as Topa Financial, in business since 1927.
Townsgate Capital purchases loan contracts for new and used automobiles from a network of trusted dealerships. Their more than 96-year history has given them a thorough and valuable understanding of clients’ needs. Access Finance recognizes the value of long-term partnerships, and in providing the expertise that they deserve.
Since 2004, Access Finance is the recognized leader in the sub-prime auto finance industry in Southern California. Besides purchasing point-of-sale contracts from independent used car dealers, Access Finance also purchases pools of contracts from buy-here-pay-here dealers and other auto finance companies seeking liquidity.
During a press event, Avishai Shraga, President of Access Finance, said, “We are happy to have been able to help Townsgate Capital cash out their auto contract portfolio. Our team worked quickly and diligently and were able to fund very quickly, which was essential to closing the deal. This is part of our ongoing expansion plan and we are looking to close several others in what should be a record year for our company.”
He goes on to say, “Several factors have combined to push monthly car payments near record highs. Younger Americans are struggling with car loans, according to the U.S. Federal Reserve. A new report from the New York Fed shows that more Americans under 30 are behind on their car payments than at any point since the 2007-09 recession. Access Finance is here to help.”
For complete information, visit: http://www.accessfinance.com/
Media Contact:
Access Finance
Attn: Media Relations
Los Angeles, CA
310-826-4000
info//at//accessfinance.com
