Alumacraft forms financing company

Posted on

Alumacraft Boat Co. is offering its dealers a new option in wholesale floorplan financing.

Working with private banks and investors, the boatbuilder formed Alumacraft Finance Corp., an independent company that will provide floorplan financing for products purchased from Alumacraft Boat. This includes trailers and all major brands of outboards.

Moderate interest rates and reasonable curtailment programs will help dealers carry a good selection of product into the peak selling seasons and focus on inventory turns and sales, according to Alumacraft Boat Co.

Alumacraft Finance Corp. will be ready to provide floorplan financing with the boatbuilder’s 2010 model year beginning Sept. 1. Full details of the program will be announced at the Alumacraft Boat Co. annual dealer meeting Aug. 25 at the corporate headquarters in St. Peter, Minn.

Click here for the full release.

Comments

One comment on “Alumacraft forms financing company

  1. GE Dealer

    Hooray! It was only a matter of time, and I hope others follow in their footsteps.  With the strangle hold that GE has on all of us, and with their now rediculous rates and terms, this should be the natural course.  Let’s just hope it happens sooner rather than later.  I would think that there is plenty of money in the banking system and private equity for others to step back in the floorplan game.  With the GE bar set so high, anyone prudent can come in this business and pick up some great dealers, and make a healthy profit.  And not rake us over the coals in the process.

Leave a Reply

Your email address will not be published. Required fields are marked *

Comments are moderated and generally will be posted if they are on-topic and not abusive. For more information, please see our Comments Policy.

Vote Today

What are your expectations for the spring and summer selling season?

View Results

Loading ... Loading ...

Search Boats for Sale

Length
Year
Price