GE Capital Retail Bank and Pep Boys Renew Consumer Financing Agreement
February 27 2012 - 10:54AM
Business Wire
Car and truck owners can more easily maintain their vehicles at
The Pep Boys – Manny, Moe & Jack (NYSE: PBY), auto service and
retail locations with the multi-year extension of the consumer
financing program through GE Capital Retail Bank. GE Capital’s
Retail Finance business, the operating entity that provides
financial solutions to retailers and dealers to help grow their
customer sales, will continue to manage the Pep Boys relationship
and service the account.
The Pep Boys CarCareONE credit card program, which began in
1996, provides customers of the nation’s leading automotive
aftermarket service and retail chain with convenient payment
options and benefits for their full-service vehicle maintenance and
repair purchases. Cardholders* can qualify for discounts off their
first purchase, promotional financing terms, exclusive savings,
e-bill and e-payment, and other options.
“Vehicle maintenance is vital to performance and safety, yet in
uncertain economic times, many car and truck owners may postpone
necessary repairs,” said Bernie McElroy, treasurer and vice
president of finance for Pep Boys. “Our relationship with GE
Capital has helped us provide a higher quality customer experience,
greater value and more flexible ways to pay for products and
services that keep them safely on the road.”
Headquartered in Philadelphia, PA, Pep Boys operates 736 stores
and approximately 7,000 service bays in 35 states. Pep Boys
provides a variety of automotive repair services and offers their
customers access to high quality, brand-name and private-label
parts in stock at discounted prices. Established in 1921, the
company has grown into a multi-billion dollar business and one of
the leading sellers of replacement tires in the United States.
“We’re proud to continue our long-standing relationship with
this premier company and to have helped Pep Boys serve the needs of
car and truck owners for more than 15 years,” said Mike Mattevi,
vice president of sales, Automotive industry, for GE Capital’s
Retail Finance business. “We look forward to building on their
growth and commitment to provide their customers with convenient
payment options to care for their vehicles.”
For more than 75 years, GE Capital’s Retail Finance business has
provided billions of dollars in consumer financing through major
retailers and more than 200,000 small- and mid-sized businesses
throughout the United States. GE Capital is a leading provider of
consumer credit in the automotive industry, and supports its
clients with proprietary online technology such as Business Center,
which includes service, training, marketing and sales tools.
About Pep Boys
Since 1921, Pep Boys has been the nation’s leading automotive
aftermarket chain. With more than 7,000 service bays in more than
700 locations in 35 states and Puerto Rico, Pep Boys offers
name-brand tires; automotive maintenance and repair; parts and
expert advice for the Do-It-Yourselfer; commercial auto parts
delivery; and fleet maintenance and repair. Customers can find the
nearest location by calling 1-800-PEP- BOYS (1-800-737-2697) or by
visiting www.pepboys.com.
About GE Capital’s Retail Finance business
GE Capital’s Retail Finance business is among the country’s most
successful retail lenders, with more than 75 years of experience in
consumer financing. The business, which originates loans as a unit
of GE Capital Retail Bank, provides customized credit programs to
retailers and consumers in the United States and Canada that help
drive sales. This includes private label and bankcard credit
programs to major national, regional and independent retailers in
the U.S., as well as private label credit programs, promotional and
installment lending, bankcards and financial services for consumers
through dealers; contractors; manufacturers; healthcare practices;
and service providers across nearly 20 industries. More information
can be found at www.gogecapital.com and
twitter.com/GoGECapital.
GE Capital is one of the world’s largest providers of credit.
For over one million businesses, large and small, GE Capital
provides financing to purchase, lease and distribute equipment, as
well as capital for real estate and corporate acquisitions,
refinancings and restructurings. For our 100+ million consumer
customers, GE Capital offers credit cards, sales finance programs,
home, car and personal loans and credit insurance. For more
information, visit www.gecapital.com or follow company news via
Twitter @GECapital.
GE (NYSE: GE) works on things that matter. The best people and
the best technologies taking on the toughest challenges. Finding
solutions in energy, health and home, transportation and finance.
Building, powering, moving and curing the world. Not just
imagining. Doing. GE works. For more information, visit the
company's website at www.ge.com.
* subject to credit approval as determined by GE Capital Retail
Bank.
©2012 General Electric Company, All rights reserved.
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