Mid Atlantic Auto Finance

What Mid Atlantic Auto Finance does

Mid Atlantic Auto Finance Inc. is a privately-held, New Jersey-based specialty consumer auto lender serving subprime borrowers who cannot qualify for conventional bank or credit union financing. Operating from Woodbine, NJ under copyright dating to 2018, the company's core product is a bad-credit vehicle loan originated primarily through telephone-based inside sales, with a website serving as a top-of-funnel information and payment channel. The company's asset-side risk management is built around PassTime GPS hardware installed in financed vehicles, providing location tracking, remote-disable capability, and borrower-initiated override codes accessible via phone, ignition sequence, or a dedicated iOS/Android mobile app. Borrower servicing relies on a multi-rail payment stack: a free AutoPay enrollment flow executed through DocuSign electronic signature; PayNearMe-powered Text to Pay at $3.99 per transaction (debit, Apple Pay, Google Pay); an online portal operated by MyFex; a $6.99 phone-payment channel; free bank bill pay; and cash payments at CVS, Walgreens, Walmart, and 7-Eleven via PayNearMe. The company also accepts liability-only auto insurance on financed vehicles. Its disclosed markets served are limited to New Jersey; it has 11–50 employees, no disclosed parent, no funding rounds, and no public ownership or M&A activity. The business model is a blend of portfolio interest income from subprime auto loans and ancillary transaction fees on convenience payment channels, with GPS-enabled collateral recovery underwriting the credit decision in lieu of conventional underwriting depth.

Name

Mid Atlantic Auto Finance

Legal name

Mid Atlantic Auto Finance Inc.

Website

https://maautofinance.com

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

Mid Atlantic Auto Finance is a private, New Jersey-based subprime auto lender that finances vehicle purchases for credit-challenged consumers, using PassTime GPS telematics for collateral management and multi-channel payment rails including PayNearMe retail cash payments.

Ownership category

akta.pro rank

Product category

Subprime Auto Lending

NAICS

Sales Financing (522220)

SIC

Personal Credit Institutions (6141)

akta.pro industry

PRIMARYFSAKAOAB

Subprime Auto Title Lending

Financial & Insurance/Lending & Consumer Finance/Specialty & Subprime Consumer Lending

SECONDARYFSAKADAA

New & Used Auto Purchase Loans

Financial & Insurance/Lending & Consumer Finance/Auto Lending & Vehicle Finance

SECONDARYFSAKALAB

Auto Title Loans

Financial & Insurance/Lending & Consumer Finance/Pawn Loans & Collateral-Based Consumer Lending

SECONDARYFSAKADAK

Auto Loan Servicing & Collections

Financial & Insurance/Lending & Consumer Finance/Auto Lending & Vehicle Finance

Keywords

• Subprime auto lending
• Bad credit car loans
• Auto finance services
• Consumer auto loans
• GPS asset tracking

Headquarters

HQ city

Woodbine

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Auto Loan Financing: Mid Atlantic Auto Finance provides auto loans to consumers with bad credit, generating revenue through interest charges on financed vehicles. The company specializes in serving the subprime auto lending market.
2. Payment Processing Fees: The company charges transaction fees for various payment methods including Text to Pay ($3.99) and Phone payments ($6.99), generating ancillary fee revenue.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels2 records

Core offering

Mid Atlantic Auto Finance originates direct auto loans to subprime borrowers with bad credit who cannot qualify for traditional bank or credit union financing, using PassTime GPS units installed in financed vehicles for asset monitoring and remote disable/recovery. The loan is serviced through multiple payment channels including AutoPay via debit card, Apple Pay, or Google Pay; Text-to-Pay through PayNearMe ($3.99 fee); pay-by-phone ($6.99 fee); bank bill pay; and cash payments at CVS, Walgreens, Walmart, and 7-Eleven locations.

Product overview

Mid Atlantic Auto Finance is a single-product auto financing company specializing in bad credit car loans for customers in the Woodbine, NJ area. The core offering is vehicle financing for borrowers with poor credit histories. Supporting the loan product, the company offers multiple payment modules including AutoPay (recommended), Text to Pay via PayNearMe, Pay Online through MyFexAccount, Pay by Phone, Pay by Bank Account, and Pay in Person at retail locations. An optional PassTime GPS tracking service provides vehicle location and remote disable capabilities for financed vehicles.

Differentiator

Problem solved

Functional benefit

Products and services

• Bad Credit Car Loans Direct auto loan financing for consumers with bad or limited credit who cannot qualify for traditional bank or credit union loans. Each financed vehicle is equipped with PassTime GPS tracking for asset monitoring, and loans are serviced through multiple payment channels including AutoPay, Text-to-Pay, online portal, phone, bank bill pay, and cash at retail partners.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature2 records

Partnerships

Three partnerships are on record, tiered core.

• PayNearMecoreTechnology or IntegrationPayNearMe provides mobile and in-person payment processing infrastructure for Mid Atlantic Auto Finance. The partnership enables Text to Pay functionality, cash payments at retail locations (CVS, Walgreens, Walmart, 7-Eleven), and digital payment links via smartlink text messages.
• PassTime GPScoreTechnology or IntegrationPassTime GPS provides GPS tracking technology installed in financed vehicles. Enables vehicle location monitoring, disable/recovery capabilities, and customer override command systems for emergency situations.
• MyFexcoreTechnology or IntegrationMyFex provides the online account management portal where customers can view loan details, make payments, and manage recurring payment schedules using their 7-8 digit account numbers.

Recent moves5 records

Expansion highlights3 records

Broad incumbents

• Carvana: Online used vehicle retailer that has expanded into captive subprime auto financing (Carvana Auto Finance). Comparable in financing credit-challenged used-car buyers, though with national scale and a fundamentally different distribution model.
• OneMain Holdings: Largest U.S. subprime personal installment lender. Overlapping customer demographic (non-prime borrowers needing access to credit) though OneMain operates nationally with personal loans rather than auto purchase financing.

Direct peers

• Credit Acceptance Corporation: Public subprime auto lender that finances used vehicle purchases through a network of dealerships. Directly comparable to Mid Atlantic in targeting bad-credit auto borrowers with dealer-arranged financing and strong collection/recovery capabilities.
• DriveTime Automotive Group: Buy-Here-Pay-Here used vehicle retailer with integrated subprime financing. Highly comparable to Mid Atlantic's risk profile and customer base, with vehicle-secured lending at the core of the business.
• Consumer Portfolio Services: Specialty indirect auto lender serving subprime and near-prime borrowers through franchised and independent dealers. Closely comparable indirect subprime auto model, portfolio composition, and customer profile.
• Lendmark Financial Services: Subprime consumer lender offering personal loans, auto refinance, and debt consolidation through branch-based servicing. Comparable in serving near-prime and subprime borrowers with personal installment credit products.
• Westlake Financial Services: Subprime auto finance company providing new and used vehicle loans through dealers nationally. Closely comparable business model: indirect subprime auto lending with risk-based pricing and active servicing.
• Regional Acceptance Corp. Indirect subprime auto lender providing financing through a network of franchised and independent dealers, now operating under Consumer Portfolio Services. Comparable subprime auto focus, indirect dealer channel, and similar customer segment.
• Prestige Financial Services: Specialty auto finance company focused on subprime and near-prime borrowers via franchise and independent dealers. Directly comparable as a subprime auto purchase lender with regional dealer relationships.
• World Omni Financial Corp. Captive finance arm of Southeast Toyota that originates subprime and near-prime auto loans through dealers. Directly comparable indirect subprime auto lender with deep risk-based pricing and active servicing capabilities.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights4 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mid Atlantic Auto Finance