7,000 U.S. Automotive Dealerships to Get Access to DRIVRZ For Used Car Leasing

May 07, 2021

Partnership with Roadster – Leading E-commerce Provider to Automotive Dealerships – Underway

VANCOUVER, BC /  May 7, 2021 / PowerBand Solutions Inc. (TSXV:PBX) (OTCQB:PWWBF) (FSE:1ZVA) (“PowerBand“, “PBX” or the “Company“) is pleased to announce that DRIVRZ Financial, its leasing and finance division, has partnered with Roadster, (“Roadster“) the e-commerce provider to 7,000 automotive dealerships in the United States, to offer used-car leasing within the Roadster Digital retail experience.

Under the partnership, Roadster will integrate DRIVRZ Financials’ unique used vehicle leasing and finance solutions within the platform it provides to automotive dealerships across the United States. Roadster’s 7,000 dealership partners nationwide will now be able to add the DRIVRZ Financial leasing tool to their online experience, allowing consumers to calculate payments and receive DRIVRZ Financial lease approvals in seconds.

“We are especially excited about this integration because we don’t know of any other lender that has brought used car leasing to the digital retail world,” said Jon Lamb, CEO of DRIVRZ Financial. “Used car leasing is already incredibly rare. Add payment calculators and the ability to apply for a used car lease online, and you have something we believe consumers and automotive dealers will appreciate. We expect that Roadsters’ extensive dealership footprint will embrace the opportunity to include our tools into their website presence.”

Added Andy Moss, CEO of Roadster: “Our vision is to create a flexible, convenient buyer experience where any portion of the process – or all of it – can be completed from home. With the DRIVRZ Financial integration, each customer can build their own deal, so they are confident in the numbers and more likely to take the next steps toward closing.”

With DRIVRZ™ integrated into the Roadster’s Express Storefront being used by dealerships, consumers can calculate their exact lease payment based on a set of adjustable factors without ever stepping into a dealership. Users can adjust the terms of a lease, including the amount due at signing, miles driven per year and lease term, to tailor a used car lease to their needs.

The Easterns Automotive Group, which operates eight dealerships in Virginia and Maryland, is the first US dealership to use DRIVRZ Financial on their website as they pursue the move to online retail. “Our website is essentially our dealership – but online,” said Joel Bassam, director of marketing at Easterns Automotive. “It enables customers to accomplish as much of the sales process as they wish from the comfort of their home. We requested this integration with Roadster and DRIVRZ Financial because we wanted to bring that same online convenience to the used car leasing options we already offer in store.”

In the coming months, DRIVRZ Financial plans to continue its expansion into new digital platforms and products, including direct-to-consumer financing, traditional retail financing, and lending across the full credit spectrum.

For further information, please contact:
Jon Lamb
E: jlamb@drivrz.com
P: 1-866-768-7653

About PowerBand Solutions, Inc.
PowerBand Solutions Inc., listed on the TSX Venture Exchange and the OTCQB markets, is a fintech provider disrupting the automotive industry. PowerBand’s integrated, cloud-based transaction platform facilitates transactions amongst consumers, dealers, funders, and manufacturers (OEMs). It enables them to buy, sell, trade, finance, protect and lease new and used, electric- and non-electric vehicles, on smart phones or any other online digital devices, from any location. PowerBand’s transaction platform – being trademarked under DRIVRZ™ – is being made available across North American and global markets.

About Roadster
Roadster provides consumer-driven Commerce Solutions for today’s modern dealership. With Roadster’s proprietary technology platform, dealerships can provide hassle-free car buying in-store, online or on the go. Roadster dramatically improves dealership customer satisfaction scores, while significantly reducing sales costs.

From inventory merchandising to financing/leasing, incentives, trade-ins, service plans and accessories – Roadster delivers near penny perfect deals in a beautifully designed interface that customers and employees will love. Roadster is based in Palo Alto, California, USA., and was founded in late 2013.

For more information, please visit www.roadster.com.

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This news release contains forward-looking statements relating to the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding future plans and objectives of the Company, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. As a result, we cannot guarantee that any forward-looking statement will materialize, and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as at the date of this news release, and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.

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