RV Maker Adds Ally as Floorplan Financing Source
DETROIT – RV manufacturer Forest River Inc. selected Ally Financial as an additional provider for dealer inventory financing. The agreement is effective immediately.
Ally Financial will participate in Forest River Inc.’s interest reimbursement program for RV dealers. Eligible dealers can receive an interest rebate from the RV maker for units sold to retail customers within 90 days of invoice. "Ally Financial is a proven financial services provider with nationwide scale for the U.S. RV industry, and we are pleased to develop this relationship for our dealer network," said Joseph Greenlee, CFO of Forest River Inc. In addition to wholesale financing, Ally will offer dealer real estate and commercial loans, inventory insurance, remarketing services for RV trade-ins, and consumer financing to support new and used RV sales.
Forest River Inc., a Berkshire Hathaway company, currently has manufacturing in six U.S states and employs more than 8,000 employees. The company also sells to independent dealers in the United States and Canada. "Forest River is a quality manufacturer that expects a world class financing experience with attractive terms," said Mark Manzo, vice president of alliance sales for Ally Financial.
"We have the infrastructure and capabilities to meet those needs, and Ally welcomes the opportunity to grow its RV portfolio while serving Forest River dealers and their customers."
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