Manheim Auctions has announced that it will provide Heavy-Duty Truck Financing, a floorplan program for heavy-duty truck dealers, through Manheim Automotive Financial Services (MAFS).
“We recognized that the heavy-duty truck market is a growing segment of the auction business and that dealers would be able to compete more effectively with a floorplan program designed for them,” said Leon Lyon, vice president and general manager of MAFS. “We’re both pleased and proud to offer this new program, which features extremely competitive rates.”
Like MAFS’ floorplan program for used-car dealers, Heavy-Duty Truck Financing is a credit plan allowing dealers to purchase inventory at Manheim auctions with little or no money upfront and pay after the units have been sold. Dealers participating in the program pay a one-time administrative/interest fee and need to meet certain financial requirements.
“MAFS’ floorplan for heavy-duty dealers is a great new service,” said John Gresley, general manager of Fort Wayne Vehicle Auction, the largest stationary heavy-duty truck auction in the country. “This floorplan will enable dealers to grow their businesses by adding inventory, raising profits and increasing their cash flows. It also will streamline their businesses by giving them a one-stop shop, where they can get both inventory and financing quickly and easily.”
Besides providing financing for used-car and heavy-duty truck dealers, MAFS also provides Used Car Rental Financing, a floorplan for rental car companies that use auctions to purchase used vehicles for their fleets.
Dealers interested in further details about Heavy-Duty Truck Financing can contact the MAFS department at Fort Wayne Vehicle Auction (219-422-9577), Fort Worth Vehicle Auction (817-626-5494) or Central Florida Auto Auction (407-438-1000).
About Manheim Auctions
Manheim Auctions has been involved in the wholesale automobile auction industry for more than 55 years. With locations in the United States, Canada, Puerto Rico, France, the United Kingdom, Australia, and New Zealand, the company is dedicated to helping dealers succeed and to assisting auto manufacturers, fleet and lease companies, and banks sell their used car inventories efficiently and effectively.
The company also offers transaction, reconditioning and certification services, managed remarketing, vehicle transportation, dealer floor planning, retail inspection, and government auction services.
Manheim Auctions is a wholly owned subsidiary of Cox Enterprises, Inc., with more than 34,000 employees at its 126 auctions and related businesses. It facilitates wholesale and retail used car transactions on the Internet through its Manheim Interactive and AutoTrader.com lines of business. Manheim Auctions’ corporate headquarters is in Atlanta, and its Web site is www.manheimauctions.com.
