DETROIT, May 22, 2012 /PRNewswire/ -- Forest River, Inc., a leading RV manufacturer,
has selected Ally Financial as an additional provider for dealer
inventory financing in the U.S. The agreement is effective
immediately.
Ally Financial 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.
"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.
(Photo: http://photos.prnewswire.com/prnh/20120522/DE11622-a
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(Photo: http://photos.prnewswire.com/prnh/20120522/DE11622-b
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In addition to wholesale financing, Ally will also offer dealer
real estate and commercial loans, inventory insurance, remarketing
services for RV trade-ins, and consumer financing to support new
and used RV sales.
Forest River, Inc., a Berkshire
Hathaway company, currently has manufacturing in six states within
the United States with more than
8,000 employees producing numerous brand names. Forest River, Inc. sells to independent dealers
in the United States and
Canada.
"Forest River is a quality
manufacturer that expects a world class financing experience with
attractive terms," said Mark Manzo,
vice president of Alliance Sales for Ally Financial. "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."
About Forest River,
Inc.
Forest River, Inc. is a leading
manufacturer of recreational vehicles, utility cargo and office
trailers, buses, pontoon boats, and modular housing.
Forest River, Inc. is a wholly owned
subsidiary of Berkshire Hathaway Inc. (NYSE: BRK-A, BRK-B).
About Ally Financial
Ally Financial Inc. is a leading vehicle financial services
company powered by a top direct banking franchise. Ally offers a
full suite of financing products and services, including new and
used auto and RV inventory and consumer financing, leasing,
inventory insurance, commercial loans and vehicle remarketing
services. Ally Bank, the
company's direct banking subsidiary, offers an array of deposit
products, including certificates of deposit, savings accounts,
money market accounts, IRA deposit products and online
checking. Ally's Commercial Finance unit provides financing
to middle-market companies across a broad range of industries. With
approximately $186 billion in assets
as of March 31, 2012, Ally operates
as a bank holding company. For more information, visit the
Ally media site at http://media.ally.com or follow Ally on Twitter:
@ally.
Contact:
Sue Mallino - Ally Financial
Communications
sue.mallino@ally.com
313-656-6970
Joseph Greenlee, Forest River, Inc.
jgreenlee@forestriverinc.com
574.389.4600
SOURCE Ally Financial