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Ryder Extends Partnership With CIT for Commercial Vehicle Financing

May 05, 2015, 07:10 AM
Filed Under: Vehicles

Ryder System, Inc. announced that it is making it easier than ever for customers to finance quality pre-owned vehicles.  The Company recently extended its U.S. preferred lender agreement with CIT Group Inc. to now include Ryder customers in Canada.

For the past four years, CIT, through its Direct Capital Corporation subsidiary, has been a preferred lender for Ryder Pre-Owned Vehicle Sales Centers across the United States. The Canadian partnership adds CIT to a list of preferred lenders, providing Ryder customers with more options for lending partners. The partnership increases the variety of highly competitive financing programs and additional alternatives for Ryder customers across Canada.

“We are pleased to extend the benefits of this partnership to Canadian businesses looking for the best rates and more financing options for quality pre-owned vehicles,” stated Michael Cagney, Director Asset Management Ryder Canada.  “Offering our customers the convenience of a true, one-stop resource is a key initiative for Ryder. With this agreement, our customers can take advantage of financing options that will help their businesses grow, while reducing financing costs.”

Blake Macaskill, Managing Director of CIT Canada, said, “We are excited to be developing and expanding our partnership with Ryder Canada. One of the many benefits of the CIT acquisition of Direct Capital is the ability to offer our partners consistent financing programs in both Canada and the United States.”

Customers across Canada can choose from Ryder’s vast selection of pre-owned cab and chassis trucks, including diesel-powered straight truck models with a full range of payload capacities.  Ryder currently offers the largest inventory of pre-owned vehicles for sale in North America, selling more than 17,000 vehicles a year from over 59 used truck centers across North America, including seven in Canada

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