Intelligent Motor Cars Group to Launch New Finance Division
FORT LAUDERDALE, Fla. -- Intelligent Motor Cars Group, Inc. announced that it is prepared to launch a new Buy-Here/Pay-Here finance division to underwrite all of its in-house vehicle sales.
FORT LAUDERDALE, Fla. -- Intelligent Motor Cars Group, Inc. announced that it is prepared to launch a new Buy-Here/Pay-Here finance division to underwrite all of its in-house vehicle sales.
"We've been giving away a good deal of our profit margins to other third party finance companies because of our reliance on outside financing sources to keep our sales increasing and finance business growing," said Jerry Scalzo, Intelligent's CEO.
Scalzo attributed a contract with Cross Capital Fund to the company's ability to keep more profits and interest payments. He said he anticipates an increase in sales production by more than 30 percent.
Intelligent reported that it would be launching the new finance division as early as April 1, depending on the infusion on capital from the funding contract with Cross Capital Fund.
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