Manheim Expands Reach Into Dealer Finance

July 5, 2011 by · Comments Off on Manheim Expands Reach Into Dealer Finance 

Dealers looking to move more specialty units such as heavy trucks, RVs and motorcycles might find a new partner in Manheim Financial Services (MAFS) reports Auto Remarketing.

MAFS, an arm of auction company Manheim, announced late last week that it is expanding its specialty division and looking for dealers in need of financing — treating this market sector as an avenue for potential growth.

“MAFS understands that specialty dealers are operating in niche markets with unique financial situations,” said Karen Braddy, general manager at Manheim Specialty. “MAFS offers important customizations to make the financing process easier and more efficient to help specialty dealers buy and sell more units.”

MAFS’ benefits include competitive rates, 100% financing of auction purchase price, personalized customer service and extended terms ranging from 120 to 150 days of financing, noted company officials.

Two specific financing programs offered by the MAFS Specialty division — which finances heavy truck, motorcycle and RV dealers — are as follows:

• The Heavy Truck program: This includes class 6, 7 and 8 trucks and vehicles with a gross vehicle weight of 19,501 pounds and above.

• RV/Motorcycle program: This includes drivable units, tow-behind campers, trailers, fifth-wheel trailers, ATVs and motorcycles.

“From our experience, specialty dealers are extremely strong operators with unique needs that traditional floor plans oftentimes cannot support,” said Kathy Decker, MAFS group vice president.

“Their detailed knowledge of these niche markets makes them a perfect fit for MAFS. Our goal is work with specialty dealers to identify ways our finance programs can help them sell more units,” she continued.

MAFS offers dealers inventory financing for use at Manheim — both in-lane and online — as well as at most National Auto Auction Association member auctions nationwide.

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