CarCareONESM Credit Card to be Accepted at
Locations Nationwide
Company Website:
http://www.gogecapital.com
STAMFORD, Conn. & BLOOMFIELD HILLS, Mich. -- (Business Wire)
GE Capital Retail Bank and Penske Automotive Group (NYSE: PAG), an
international automotive retailer, today announced an agreement to
provide a private
label consumer credit card program to customers of Penske Automotive
Group dealerships in the U.S. GE Capital Retail Bank provides financial
solutions to retailers to help grow their customer sales and will
service the account and manage the credit card program.
"We are pleased to offer the CarCareONE credit card program, providing a
convenient payment option to our customers for planned and unexpected
automotive maintenance and repair services,” said Rob Kurnick, president
of Penske Automotive Group. “GE Capital brings a strong understanding of
our industry and deep expertise to our U.S. dealers to assist us in
growing customer loyalty in this important, recurring part of our
business.”
Qualifying Penske CarCareONE cardholders* can take advantage of
promotional financing offers such as six-month deferred interest
financing on purchases of $299 or more and 12-month deferred interest
financing on purchases of $750 or more. The credit card can be used for
full-service vehicle maintenance and repair services and replacement
costs at Penske Automotive Group dealerships locations in the U.S. and
Puerto Rico. Qualifying cardholders can also enjoy a range of benefits,
including exclusive savings and e-bill and online account management
options. Applications can be completed in-store or online.
“We look forward to working with Penske Automotive to help build its
business and serve the needs of its service customers,” said Orlando
Zayas, vice president of sales, Automotive After-Market Group, for GE
Capital’s Retail Finance business. “This new relationship underscores GE
Capital’s commitment to this important auto dealership market where we
have provided consumer financing options for more than three decades.”
For more than 80 years, GE Capital has helped major retailers and more
than 200,000 small- and mid-sized businesses throughout the United
States build their businesses through consumer financing programs that
support merchant growth and customer satisfaction. GE Capital has been a
leading provider of consumer credit in the Automotive After-market
industry for more than 30 years. The company supports its clients with
proprietary online technology such as Business Center, which includes
service, marketing and sales tools, as well as Learning Center,
providing businesses with access to comprehensive training for their
teams on financing for consumers.
*Subject to credit approval and availability.
Note to Editors: Visit GE Capital at the NADA Show, Booth # A183
About Penske Automotive
Penske Automotive Group, Inc., headquartered in Bloomfield Hills,
Michigan, operates 344 retail automotive franchises, representing 40
different brands and 30 collision repair centers. Penske Automotive,
which sells new and previously owned vehicles, finance and insurance
products and replacement parts, and offers maintenance and repair
services on all brands it represents, has 173 franchises in 18 states
and Puerto Rico and 171 franchises located outside the United States,
primarily in the United Kingdom. Penske Automotive is a member of the
FORTUNE 500 and Russell 2000 and has approximately 16,700 employees.
Find a vehicle: http://www.penskecars.com
Engage Penske Automotive: http://www.penskesocial.com
Like Penske Automotive on Facebook: https://facebook.com/PenskeCars
Follow Penske Automotive on Twitter: https://twitter.com/#!/Penskecarscorp
Visit Penske Automotive on YouTube: http://www.youtube.com/penskecars
About GE Capital's Retail Finance business
GE Capital’s Retail Finance business is among the country’s most
successful retail lenders, with more than 80 years of experience in
consumer financing. The business, with its lending entity GE Capital
Retail Bank, provides customized credit programs to retailers and
consumers in the United States and Canada that help drive sales. This
includes private label and bankcard credit programs to major national,
regional and independent retailers in the U.S., as well as private label
credit programs, promotional and installment lending, bankcards and
financial services for consumers through dealers; contractors;
manufacturers; healthcare practices; and service providers across nearly
20 industries. We are not just bankers; we help clients build better
businesses. More information can be found at www.gogecapital.com and twitter.com/GoGECapital.
GE Capital is one of the world’s largest providers of credit. For over
one million businesses, large and small, GE Capital provides financing
to purchase, lease and distribute equipment, as well as capital for real
estate and corporate acquisitions, refinancings and restructurings. For
our 100+ million consumer customers, GE Capital offers credit cards,
sales finance programs, home, car and personal loans and credit
insurance. For more information, visit www.gecapital.com or
follow company news via Twitter @GECapital.
GE (NYSE: GE) works on things that matter. The best people and the best
technologies taking on the toughest challenges. Finding solutions in
energy, health and home, transportation and finance. Building, powering,
moving and curing the world. Not just imagining. Doing. GE works. For
more information, visit the company's website at www.ge.com.
©2013 General Electric Company, All rights reserved.
Contacts:
GE Capital
Cristy Williams, 678-518-2596
cristy.williams@ge.com
or
Penske
Automotive Group
Anthony R. Pordon, 248-648-2540
tpordon@penskeautomotive.com
Source: GE Capital Retail Bank