ATLANTA – Manheim Financial Services (MAFS) started off the second quarter with a key milestone that could only be achieved with the support of its independent dealer customers. For nearly 20 years, independent dealers have relied on MAFS for their financing needs, helping the organization hit the 10 million vehicle mark last month. Manheim’s financing arm provides floor plan inventory financing to independent used car dealers in the U.S. and Canada who, on average, have been doing business with them for more than eight years.
“This is a great milestone for MAFS, and I’m happy to share in it with them,” said Robbie Ashcar, owner of Select Luxury in Marietta, Ga.
Ashcar, one of the very first MAFS customers, floored the 10 millionth vehicle with MAFS. He started his business from the ground up, selling lower-end cars. After working with MAFS, his business has grown significantly, and he now focuses on higher-end vehicle sales.
“MAFS has been an excellent business partner for me,” Ashcar added. “We have both grown over a long relationship. I wish them nothing but the best in the future and look forward to continuing our partnership through their next 10 million cars.”
Patrick Brennan, group vice president for MAFS shared, “I want to personally thank our customers and our employees for helping us achieve such a remarkable feat. We are committed to finding ways to support independent dealers, as our recent acquisition of Dealer Services Corp. (DSC) demonstrates.”
DSC joined with MAFS in March, giving Manheim a full lending spectrum for independent dealers as well as advanced technology to manage their accounts.
“So far this year, MAFS and DSC have together financed more than half a million cars for small independent dealers, helping them compete in the marketplace,” Brennan said.
“MAFS’ commitment to independent dealers throughout the years has driven everything that we do, from new products to process improvements,” Brennan added. “We are focused on long-term relationships through outstanding products and service for our customers.”