Finance Services To Grow Your Export Business

We have a suite of finance services designed to help customers grow their vehicle importing businesses. Our focus is to foster profitable growth for our customers, which benefits the entire vehicle import ecosystem. All products are easily accessible through our technology platform.

Export Finance:

Export Finance provides access to flexible capital for inventory financing. Once a credit limit is established, simply submit the vehicle Bill of Sale, funds are then sent to seller and the vehicle can be scheduled for pick-up. The advance rate is up to 90% of the US wholesale value which typically covers the CAD Bill of Sale purchase amount. The CAD purchase amount is then converted to USD, creating the basis of the loan. A USD loan creates a natural hedge, instantly removing exposure to FX fluctuations.

Full Coverage Vehicle Insurance:

Pacific Imports has access to Export Insurance Plan (“EIP”) developed by Signal Technologies. EIP is specifically designed for the import market, it is on-demand program available on a vehicle-by-vehicle basis, so you only pay insurance for the vehicles you import. EIP scales up or down with your volume, is competitively priced and as a pay-as-you-go program, there are no upfront fees or difficult qualification requirements. Coverage begins when a vehicle is purchased in Canada through to when it is sold in the US. A Certificate of Insurance is issued for each covered vehicle.

Rate Lock - Instant Forward Contracts:

Rate Lock is a unique FX forward product for vehicle importers. Exchange rate volatility can be a major challenge, as it can erode profits and make it difficult to maintain profits. With Rate Lock, exporters can book a 60-day forward contract for each vehicle they purchase. This allows them to lock in the exchange rate for the vehicle sale, regardless of what happens to the rate in the next 60 days. Rate Lock is a user-friendly solution that does not require a forecast or an upfront commitment. It can be implemented immediately, and exporters can start using it to protect their profits right away.

Payments & FX:

Canadian imported vehicles sold in USD require the proceeds to be converted to CAD and remitted back to Canada. The two most important requirements of an effective payments service are: Competitive FX rates; and fast transaction speeds. Signal’s payment processing service has both. For example, if you sell a vehicle at Manheim, if the funds are received from Manheim in the morning, you will receive CAD funds in your Canadian bank account the same day. The service is seamless, cost effective and efficient.