Isuzu Motors is launching a captive finance company for its U.S. commercial truck business. The finance company, Isuzu Finance of America Inc., begins operations in June 2007.
Isuzu finance is geared toward commercial trucks, not consumer vehicles. Isuzu has two Japanese partners in the company: Itochu Corp., a trading firm and Tokyo Leasing Co. Ltd., a financial services firm.
Isuzu Finance, of Purchase, N.Y., will start doing business at 125 commercial truck dealerships in the United States. The finance company will offer subsidized finance rates from the manufacturer. In the past, Isuzu dealers typically have offered financing through GMAC Financial Services and local banks.
Currently Isuzu has approximately 500 commercial truck dealerships in the U.S., and last year sold 15,751 medium and heavy-duty trucks.