Penske Offers Warranty and Financing for Used Trucks
READING, Pa., November 25, 2008 - Penske Truck Leasing today announced it now offers new warranty and financing options for used light, medium, and heavy-duty commercial vehicles in collaboration with National Truck Protection (NTP) and netLoan Funding.
Penske now offers extensive one year, 100,000 mile and two year, 200,000 mile warranty protection options on used equipment through its relationship with NTP, the industry's leading independent provider of extended warranties. Both plans include NTP's platinum coverage, which is considered the most comprehensive in the industry.
"NTP is extremely pleased to develop this partnership with Penske," said Robert Amico, President of NTP. "Their decision to provide NTP service agreements further demonstrates their commitment to customer satisfaction and quality, by making available the highest quality warranty coverage available, on top of the superior maintenance and overall condition of Penske vehicles."
Penske also teamed with netLoan Funding for fast, easy and convenient used truck financing. When purchasing a used Penske truck, netLoan does all the groundwork and researches a variety of finance options, all done online within 24 hours.
"Building on our experience as a preferred provider of multiple funding options for eBay Motors, netLoan is in a unique position to understand and address the needs of Penske customers in this challenging credit environment," said Richard Fleisher, Managing Director of netLoan Funding. "Coupling netLoan's experience with Penske's extensive inventory of used commercial vehicles is a win-win situation for everyone involved."
Penske's inventory of more than 4,000 high quality, wellmaintained used commercial vehicles and financing and warranty information are available at www.PenskeUsedTrucks.com. Vehicles available for purchase include commercial semitractors, box trucks, flatbeds, refrigerated trucks, bucket trucks, semitrailers, refrigerated trailers, crane trucks, buses, vans and more.
"We're pleased to make these new options available to our customers," said Jack Mitchell, Vice President – Remarketing, Penske Truck Leasing. "This will make it even easier for customers to purchase, finance and get the most satisfaction from their vehicles."
netLoan Funding, LLC develops, builds, and manages internet-based and point of sale finance programs for dealers and sellers of consumer and commercial vehicles and other products, and provides lender management solutions and e-commerce advice for such programs. Originally established to create and operate a customized finance platform for the purchase of commercial vehicles and other assets on eBay Motors, netLoan now services a wide variety of clients, to stimulate sales of almost any asset. Visit www.netloanfunding.com to learn more about netLoan Funding and its products and services.
NTP, Inc. based in Carlstadt, N.J., is the leading independent provider of warranty and service contracts to the North American trucking industry. NTP, celebrating its 25 th year, provides private label warranties to major, industry OEM's as well as extended warranties to the used truck segment through an extensive network of corporate and independent dealers. NTP provides the most comprehensive repair and breakdown management services in the industry. For more information, please visit www.ntpwarranty.com. NTP is a portfolio company of Palladian Capital Partners, a New York based private equity firm. Palladian teams with management in the middle market segment. Visit www.palladiancap.com for addition information.
Penske Truck Leasing Co., L.P., headquartered in Reading, Pa., is a joint venture among Penske Corporation, Penske Automotive Group and General Electric. A leading global transportation services provider, Penske operates more than 200,000 vehicles and serves customers from more than 1,000 locations in North America, South America, Europe and Asia. Product lines include full-service truck leasing, contract maintenance, commercial and consumer truck rentals, transportation and warehousing management, and supply chain management solutions. Visit www.GoPenske.com to learn more about the company and its products and services.