Mecum Financial Services Celebrates Five Years and $150 Million Financed
May 17 2024 - 9:00AM
Business Wire
Mecum’s Indy 2024 Auction Marks Fifth
Anniversary for MFS and 3,368 Vehicle Loans to Date
Mecum Financial Services (MFS) celebrated its fifth successful
year of providing competitive loans to Mecum customers at Dana
Mecum’s 37th Original Spring Classic. Held this May 10-18 at the
Indiana State Fairgrounds, the Indy 2024 auction featured the
presentation of a ceremonial check showing more than $150
million—the amount that MFS has thus far helped Mecum customers
secure for the purchase of their dream vehicles.
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Mecum Auctions Founder and President Dana
Mecum (left) and Mecum Financial Services Director Lee Giannone
(Photo: Business Wire)
Mecum Auctions launched the MFS lending program five years ago
at Dana Mecum’s 33rd Original Spring Classic auction in
Indianapolis and has since facilitated more than 3,368 individual
loan transactions for the purchase of classic and collector
automobiles sold at Mecum events. The success of the program
inspired the recent ceremonial check presentation at this year’s
Indy auction, with MFS Director Lee Giannone taking to the stage to
hand the check for $153,163,470 to Mecum Auctions Founder and
President Dana Mecum.
"From the beginning, we recognized an underserved market niche
that, if delivered and serviced effectively, would provide value to
both Mecum Auctions and our customers," said Giannone. "Five years
later, the number of transactions and total loan volume is evidence
of the value that we're providing to new and current customers to
purchase the collector car of their dreams."
MFS was developed to expand the end-to-end Mecum collector car
services to include financing in addition to buying, selling and
transporting, making Mecum auctions a convenient one-stop-shop for
buyers and sellers alike. Unlike traditional after-purchase bank or
credit union financing, which is often not offered for older
classic cars, the MFS program is centered around the unique
requirements of financing collector cars and motorcycles in an
auction setting. MFS offers competitive rates and a simplified
application process that can be completed in as few as three
minutes.
For more information on Mecum Financial Services or upcoming
Mecum auctions, visit Mecum.com or call (262) 275-5050. Mecum’s
website is updated daily with the latest consignments and includes
detailed descriptions and photographs of the vehicles and other
items offered.
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Mecum Auctions Communications Department Breeann Poland
bpoland@mecum.com