Fix, Finance, Thrive: A Family-Run Dealer’s Growth Story

Before the Card

A Business Card That Didn’t Fit Dealership Needs

Before founding Covedale Motors, Nathan Valerius spent over 15 years in California as a real estate investor, specializing in the purchase and rehabilitation of distressed rental properties. He built a reputation for spotting overlooked assets and turning them into thriving ventures — a skill he later carried into the auto industry.

Nathan noticed how insurance companies often wrote off cars as total losses due to minor damage, thereby inflating new-car costs. With consumers turning to Uber, Lyft, and affordable used cars, he saw an opportunity: buy repairable vehicles at auction, fix them cost-effectively, and resell them. Just as he had done with distressed houses, Nathan transformed overlooked cars into reliable, affordable transportation — and a growing business.

To get Covedale Motors off the ground, Nathan leaned on an American Express card from his real estate days to pay for vehicles and parts. While it worked, it didn’t truly elevate his operations — he lacked visibility into employee spending, and while the rewards were nice, they didn’t meaningfully improve his margins. 

The Turning Point

Discovering the NIADA Business Mastercard

As a longtime member of NIADA and OADA, Nathan regularly relies on their resources to run his dealership — and when they endorse something, he pays attention. Applying for the NIADA Business Mastercard started as a simple association-driven decision. He wasn’t planning to replace his AmEx, but he figured it was worth trying.

“To be honest, I’m a big fan of American Express. I wasn’t looking for an alternative. I even told my team to just use the card for gas or basic expenses,” Nathan admitted.

After the Card

Real-Time Control and Better Margins

Right from the jump, Nathan was approved for a $30,000 credit limit. 

“With AmEx, I started off with something a lot smaller, then built my way up over the years to a $35,000 line. To be honest, I was quite shocked that the NIADA Mastercard team would invest that much into my business without a pre-existing relationship in place. That says a lot to me.”

What began as a backup card soon became his primary tool. Here’s why:

• Business Text Message Alerts: With AmEx, there was no way to monitor purchases in real time. Nathan wasn’t receiving purchase alerts when employees bought “parts.” That meant he was operating purely on trust—a system that doesn’t always hold up. Within months of switching to the NIADA Business Mastercard, Nathan discovered that employees were overspending.

“Some of my guys wanted to buy auto parts that usually run a few hundred dollars. Within 30 seconds of their $1,800 purchase, I got an alert, called them right away, and had them return the entire cart before checking out again.”

• ‍Margin Boost: While AmEx shines for travel, the NIADA Mastercard helps where it matters most—your bottom line. With 5% cash back on auto parts, every purchase stretches margins further.
• ‍Buying Power: Just 24 hours after applying, Nathan had $30,000 in buying power—enough to stock more auto parts and fill his lot with inventory.

Nathan’s Advice to Other Auto Dealer Owners

When asked what advice he’d give to other auto dealers across the country, Nathan emphasizes first principles.

“To be honest, a lot of businesses are ego-driven. I’ve seen dealers buy cars they personally like, assuming that’s what the market wants. That kind of thinking—and the refusal to pivot—is a recipe for disaster. I focus on buying cars the market actually demands. I never expected a third of my lot to be Hyundais, but I was proven wrong.

Looking ahead, Nathan is optimistic about the future of Covedale Motors.