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.”
About Manheim (www.manheim.com)
Manheim is the world’s leading provider of vehicle remarketing services. Through its 113 worldwide wholesale operating locations and digital services, Manheim influences every stage of a used vehicle’s life cycle, helping commercial sellers and automobile dealers maximize the full value of their vehicles. Drawing from its auction transaction volume, Manheim Consulting publishes the annual Used Car Market Report, the definitive source of data for the used car industry. Manheim Consulting offers a wide range of services including custom analytics, business optimization and macro economic analysis.
Manheim is the online vehicle remarketing leader, connecting buyers and sellers to the world’s largest, most comprehensive wholesale marketplace through its extensive in-lane and digital offerings. Manheim.com receives nearly 900,000 visits each week.
Additionally, Manheim offers services including reconditioning, certification, inspections, dealer financing, title management and marshaling, among others. Through its wide array of services and technologies, industry publications, customer support and educational offerings, Manheim gives its customers maximum control over how they buy and sell vehicles, helping them to conduct business in the most efficient way possible. Worldwide, the company handles nearly 8 million used vehicles annually, facilitating transactions worth more than $50 billion in value.
Headquartered in Atlanta, Manheim is a subsidiary of Cox Enterprises, a leading communications, media and automotive services company.