Craig Hewitt , chief executive of CarFinance.com (Photo via LinkedIn)
Flagship Credit Acceptance has announced the appointment of the first dedicated CEO of its direct lending arm CarFinance.com, the company announced in a press release this week.
Craig Hewitt began leading the lender’s fintech arm on July 16, bringing 25 years of auto finance experience to the company.
Most recently, he held the role of senior vice president of dealer services at GM Financial. Prior to that, he held various positions at Open Dealer Exchange, HSBC Auto Finance, and Capital One Auto Finance. He even launched his own subprime loan origination company while attending graduate school at the University of North Carolina and wound up selling to join Summit Acceptance Corp.
“This is the perfect time for someone with Craig’s energy, vision, and leadership to join our team,” Michael Ritter, chief executive of Flagship Credit Acceptance and parent company FC Holdco, said in a press release. “CarFinance.com has enjoyed seven years of success because the market is increasingly rewarding companies that back superior customer experience with deep financial expertise. Craig’s entrepreneurial spirit and industry experience will provide leadership and guidance as the company continues to grow.”
CarFinance.com has originated $1 billion in auto loans since it launched in 2011, according to the release. The platform helps to pre-approve consumers for a dealer purchase, complete the documentation online, and matches consumers with a loan officer who can walk them through the process online.