Automotive Finance Corporation (AFC), a business unit of KAR Auction Services, has expanded its inventory finance product offerings to include more options for commercial truck dealers. Having offered financing solutions for independent dealers’ vehicle purchases for nearly 30 years, AFC sees this enhancement as a way to better meet the needs of commercial and heavy duty truck dealers looking to finance their used inventory.
A key feature of AFC’s commercial truck inventory financing includes no restrictions on the type of units a dealer can purchase—no make, model, or year constraints.
“Many providers only finance a dealer’s new truck inventory,” said Neill Waters, vice president of business development and marketing for AFC, “and consequently we found many commercial truck dealers seeking financing that better met their used truck purchasing needs.”
AFC will advance 100 percent of a truck dealer’s auction purchases at more than 1,100 AFC-approved auctions and other inventory sources. AFC’s financing also gives truck resellers the flexibility to finance trades. AFC’s truck financing applies to used commercial trucks of all types, including Class 2-8 units.
“Our commercial truck inventory financing program is now available throughout North America, including both the United States and Canada,” Waters added. This new program is consistent with AFC’s strategy to find new and better ways to service its dealer customers and enable them to operate more profitably.