GE Money’s Sales Finance unit and Arctic Cat, one of the world’s leading manufacturers of snowmobiles and all-terrain vehicles, announced a new consumer financing agreement, beginning April 9.
Arctic Cat will offer installment and revolving credit programs available at hundreds of Arctic Cat dealers in the U.S. GE Money currently has a successful relationship with Arctic Cat in Canada. The installment loan program is called Arctic Cat Financing, while the revolving program will utilize the new Cat Card credit card.
“This is a very important new sales and marketing tool for our dealers,” said Rick Stokke, a national sales manager for Arctic Cat, one of the only two U.S. snowmobile makers. “We want to empower our customers and make it easier for dealers to close more sales. We’re anticipating that a lot of sales energy will be created through our new financing program.”
Arctic Cat’s financing program will enable dealers to offer special financing terms, including seasonal promotions, designed to generate sales momentum. Fast credit decisions and simple paperwork will help dealers keep customers in the store, and dealers also will benefit from Internet-based financing management tools.
“We’re providing Arctic Cat with a flexible program that will help generate more sales of units and accessories,” said Greg Pierce, vice president and general manager, Power Products, for GE Money – Sales Finance. “The excitement of a new Arctic Cat snowmobile or ATV, coupled with an easy financing program is a powerful marketing combination.”
ABOUT ARCTIC CAT
Arctic Cat, Inc., produces all-terrain vehicles and snowmobiles under the Arctic Cat brand name. The company also produces related parts, garments and accessories. Based in Thief River Falls, Minn., the company has annual revenues in excess of $700 million and sells throughout the United States and Canada, as well as in Europe, the Middle East, Asia and elsewhere. For more information about Arctic Cat, visit www.arcticcat.com.
ABOUT GE MONEY AND SALES FINANCE
Sales Finance, based in Kettering, Ohio, is part of GE Money, formerly GE Consumer Finance. The Sales Finance division provides private label credit card programs, marketing, installment lending, service contracts and financial services for national and regional retailers, dealers, manufacturers and service providers in more than 20 industries including: powersports, home improvement, home utility, furniture, floor covering, sporting goods, outdoor power equipment, automotive, recreational vehicles, consumer electronics and appliances, marine, music, jewelry, and health care.
With $190 billion in assets, GE Money, a unit of General Electric Company (NYSE: GE), is a leading provider of credit services to consumers, retailers and auto dealers in more than 54 countries. GE Money, based in Stamford, Conn., offers a range of financial products, including private label credit cards, personal loans, bank cards, auto loans and leases, mortgages, corporate travel and purchasing cards, debt consolidation and home equity loans and credit insurance. More information can be found online at www.gemoney.com.
GE (NYSE: GE) is Imagination at Work — a diversified technology, media and financial services company focused on solving some of the world’s toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit www.ge.com.