Forest River Inc. Adds Ally Financial as Wholesale Finance Provider

As Ally Financial continues to expand its presence in the RV industry, ?the finance company will now be?an additional provider for dealer inventory financing in the U.S. for?Forest River Inc.

Ally will participate in Forest River Inc.?s interest reimbursement program for RV dealers obtaining wholesale financing from Ally. Eligible dealers can receive an interest rebate from Forest River, Inc. for units sold to retail customers within 90 days of invoice-- Dealers order the RV from Forest River and if they sell within 90 days, then Forest supplies a rebate and reimburses the interest.?

For Mark Manzo, vice president of Alliance Sales for Ally Financial, the program helps dealers face one of the industry's biggest challenges: aged inventories. "One thing I like about this program; it gives dealers an incentive to turn inventories quicker," he told AutoFinanceNews.net.

Ally has been in the RV industry just under two years and continues to expand at a fairly accelerated rate.?

"We are?pretty excited about the progress as we continue to expand to over 1,000 dealers," he said, which includes retail and wholesale combined.?

In addition to wholesale financing, Ally will also offer Forest River dealer real estate and commercial loans, inventory insurance, remarketing services for RV trade-ins, and consumer financing to support new and used RV sales. Remarketing will be done through Ally's SmartAuction platform which will allow RV dealers to put inventory online and sell more efficiently, Manzo explained.?

"Ally Financial is a proven financial services provider with nationwide scale for the U.S. RV industry, and we are pleased to develop this relationship for our dealer network," said Joseph Greenlee, chief financial officer of Forest River, Inc. in a statement.?

The RV market has remained somewhat level over the past few years while dealers have adjusted their business models to meet their needs, Manzo said noting the RV market has maintained gradual growth which he expects to continue.?

"As we move forward, our?commitment to our dealers?is strong and there is opportunity to expand as the market expands as well," he said. "It's a good market to be in."?

"Forest River is a quality manufacturer that expects a world class financing experience with attractive terms," Manzo said. "We have the infrastructure and capabilities to meet those needs, and Ally welcomes the opportunity to grow its RV portfolio while serving Forest River dealers and their customers."

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