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.
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.
Sue Mallino - Ally Financial Communications
Joseph Greenlee, Forest River, Inc.
SOURCE Ally Financial