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Q: Financing rental vehicles ( Answered 5 out of 5 stars,   0 Comments )
Question  
Subject: Financing rental vehicles
Category: Business and Money
Asked by: keready-ga
List Price: $100.00
Posted: 10 May 2005 21:30 PDT
Expires: 09 Jun 2005 21:30 PDT
Question ID: 520265
Background: I would like to find out how to finance (auto loan) vans
for a rental service. I need a lender that will let me do auto loans
for about $150,000 in vans that I will run as a rental fleet.

I do not want a small business loan, I want to finance the cars and
have the note for each held by the bank.

Question: Name and phone number of a lender that specializes this kind
of loan application (United States).

Thanks for your help!

KR
Answer  
Subject: Re: Financing rental vehicles
Answered By: hagan-ga on 11 May 2005 08:16 PDT
Rated:5 out of 5 stars
 
There are a number of businesses offering this kind of financing.

Ford Credit Commercial Lending will finance the purchase of Ford
products for commercial fleets:
http://www.fordcredit.com/comlend/index.jhtml

Likewise, GMAC commercial services will finance the purchase of GM
products (they say they also finance non-GM vehicles).  From their
website:
"GMAC offers lease/rental fleet financing to qualified fleet dealers
and independent leasing companies. From GM and non-GM passenger cars
to medium duty trucks, a wide variety of vehicles are eligible for
financing. To learn more about available lines of credit and inventory
financing programs, contact the GMAC Commercial Services Group
1-800-471-4622."
Website address:  http://www.gmfleet.com/us/acquiring/finance/

Primus Financial Services is a commercial finance company specializing
in automobile financing, including both commercial fleets and daily
rental companies.  They have eight branches nationwide.
A map of their branches with contact numbers can be found here:
http://www.primuscredit.com/comlend/contbranch.html
and here is the list:
Atlanta
P.O. Box 467489
Atlanta, GA 31146
(800) 828-7045
FAX: 800-430-0190
Scott Smith
Branch Manager  

Detroit
P.O. Box 310
Dearborn Heights, MI 48127
(800) 659-8423
FAX: 800-296-2496
Edwin Sweda
Branch Manager  

Charlotte
P.O. Box 472653
Charlotte, NC 28247
(800) 909-0152
FAX: 800-777-3396
Gary Petty 
Branch Manager 

Orange
P.O. Box 40
Orange, CA 92868
(800) 788-2914
FAX: 800-777-3518
Toby Zeman
Branch Manager 

Chicago
P.O. Box 127
Westmont, IL 60559
(800) 789-0107
FAX: 800-777-3346
Mike Avers
Branch Manager 

Philadelphia
P.O. Box 61582
King of Prussia, PA 19406
800-723-3010
FAX: 800-270-1858
Kevin Cullum
Branch Manager 

Dallas
801 E. Campbell Rd., Suite 650
Richardson, TX 75081
(800) 784-9465
FAX: (972) 669-2562
Gary Trawick
Branch Manager 

San Francisco
P.O. Box 9090
Pleasanton, CA 94566
888-865-3963
FAX: (925) 468-0810
Craig Krisan
Branch Manager 

Automotive Finance Corp. is another company offering this service:
Company: Automotive Finance Corp.  
Description: AFC is a provider of fleet financing for both the small
and large daily rental operator.
Contact: Ken Suprenant  
Address: 310 E. 96th St Suite 300
City: Indianapolis  
State: IN  
Zip Code: 46240 
Phone: 317-815-9751  
Fax: 317-815-9650  
Email: ksuprenant@automotivefinance.com  
Web Site: www.autofinance.com

Finally, Bank of America also offers commercial rental fleet financing:
Company: Bank Of America  
Description: Rental Fleet Financing
Address: 9000 Southside Blvd 
City: Jacksonville  
State: FL  
Zip Code: 32256 
Phone: 904-982-7874  
Fax: 904-987-7356  
Email: debbie.j.davis@bankofamerica.com  
Web Site: www.bankofamerica.com

I hope this was helpful.  Best of luck with the business!
keready-ga rated this answer:5 out of 5 stars
Thanks for the quick answer. We found it very useful.

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