AFTER breaking up with HSBC at the end of last year, Suzuki has partnered with GE Money to offer a new installment program going live Jan. 13. Also, the OEM recently endorsed Sheffield Financial as its revolving credit card provider. That program has been active since Jan. 2.
Dealers enroll in the latter program by filling out online documents found in the “Dealer Section” at www.sheffieldfinancial.com. Dealers can also contact Sheffield by calling 800-438-8892, and they can find details by logging on to Suzuki Connect. Sheffield Financial is a division of BB&T Financial FSB and has been in the powersports industry for eight years.
GE Money encourages Suzuki dealers to sign up for its program by calling 866-209-4457. Processing takes two to five days.
The Suzuki contract is the latest in a series of changes for GE. In this case, however, the company is expanding instead of contracting. Late last year GE pulled its dealer-direct revolving and installment programs from most dealerships using them. Only those with certain franchises have been allowed to keep them. Earlier in 2008, the bank had exited the marine industry (not counting PWC).
GE promotes the following features of the new installment program:
- A simple online application and sales process, and fast credit decisions
- An electronic funding service that pays dealers within 48 hours
- A free online Training Resource Center that helps dealers educate customers on financing options
- A Marketing Toolkit that includes templates for direct mail, templates for special-offer letters, POP materials and a GeoSelector that allows dealers to “easily create highly targeted mailing lists using the latest technology”
Dealers interested in these tools, GE says, should visit www.growwithfinancing.com.