LeasePlan USA Chooses Fourth Fleet Financial for Remarketing Efforts
LeasePlan USA has chosen Fourth Fleet Financial to provide financing options for its Driver Sale Program. LeasePlan says it selected the company due to its flexible approach and commitment to find a financing partner for every applicant. Founded by industry veteran Jeff Danford, Fourth Fleet Financial offers a portfolio of lenders to serve a broad spectrum of clientele. Among its financing partners are: WFS Financial, Household Finance, E-LOAN and RoadLoans, a division of Triad Financial. LeasePlan was the first fleet management lessor to partner with Fourth Fleet Financial."Working with Fourth Fleet Financial is a win-win situation," said John Rancourt, director, used vehicle marketing and license & title for LeasePlan USA. "Due to its established relationships with a number of reputable financing partners, we anticipate an increase in the percentage of fleet vehicles purchased by the drivers, which helps to better the bottom line for our clients."LeasePlan previously worked with a traditional financing partner. "We needed additional flexibility to accommodate a variety of situations," explained Rancourt. "With Fourth Fleet Financial, we are able to bring in a wider number of financing partners and options to find the best funding source for each buyer. It is truly a customized process.""We look forward to working closely with LeasePlan to increase driver sales and satisfaction with the lease buyout process," said Tim Janssen, vice president, business development for Fourth Fleet Financial. "Lease Plan's history of offering unique and flexible products is a perfect complement to Fourth Fleet's innovative financial services."Fourth Fleet Financial claims it specializes in financing options within the auto industry. The company, based in Austin, Texas, was formed to bring lending and employee services practices to the fleet end-of-term process.