LEHIGH VALLEY, Pa. — Mack Trucks has announced Oct. 1, will mark the start of a new captive finance company, Mack Commercial Finance.
The new group will begin offering a full array of custom financial services to Mack distributors and customers in both the U.S. and Canada.
Mack Commercial Finance is a division of VFS US LLC, one of the largest captive truck finance companies in North America. Mack Commercial Finance and its affiliates will offer wholesale and retail financing, insurance, credit card services, leasing solutions for customers and Mack Leasing System dealers, and a host of other services designed specifically for the special requirements of the truck industry.
“Our customers and dealers will certainly benefit from having a finance source that is fully integrated with our company, and that specializes in trucking,” says Eric Frachon, Mack executive vice-president of finance. “We look forward to working with Mack Commercial Finance to deliver the services our customers need to be successful in today’s competitive trucking industry.”
Mack Commercial Finance and its affiliates have a total portfolio of more than US$2.5 billion, and its more than 350 employees work with a network of more than 600 truck dealers across the U.S. and Canada.
“We are very excited about this opportunity to work with Mack and its dealers to support Mack’s growth in North America,” says Stephen Roy, vice-president of sales for Mack Commercial Finance. “We all share a common goal — to satisfy customers and help them compete in today’s challenging business environment.”
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