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Sheffield Financial Renews Financing Program Agreement with American Honda Motor

December 01, 2021, 07:10 AM
Filed Under: Program Agreements

Sheffield Financial, a division of Truist Bank, and American Honda Motor Co. Inc. (Honda) agreed to renew a multiyear financing services program agreement. Honda Power Equipment, a business unit of American Honda Motor Co. Inc., markets outdoor power products including generators, lawn mowers, pumps, snow blowers, tillers and trimmers. Honda Marine operates under the American Honda Motor Co. Inc. umbrella marketing a wide array of four-stroke, outboard marine engines.

The agreement allows Sheffield to provide lending services to Honda Power Equipment and Honda Marine customers through their respective dealer networks. The contract covers installment financing for Honda marine engines, boat packages that include Honda engines, Honda generators, lawn mowers, pumps, snow blowers, tillers and trimmers.

"Honda Power Equipment and Honda Marine are fully invested in supporting our customers—and their customers—by helping more consumers use Honda products to experience the pleasure of outdoor work and play," said Chris Young, Senior Manager, Division Lead Power Equipment Sales. "The agreement with Sheffield Financial will help us strengthen the market for outdoor power equipment and marine products while advancing us toward the Honda 2030 vision of a clean, safe, secure, carbon-free society through the pursuit of high quality in the design and construction of products and services that fulfill expectations of societies and meet individual needs."

"We're excited and honored to continue our partnership with Honda Marine, a leader in the marine industry, and the addition of Honda Power Equipment, a premier manufacturer of power equipment products, to the program. Sheffield is proud to offer flexible financing solutions to Honda dealers and their customers for Honda's high-quality marine and power equipment products," said Jeff McKay, Sheffield Financial CEO and head of point-of-sale lending for Truist.

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