Preferred Automobile Credit Co. loosens vehicle age and mileage eligibility requirements for financing of pre-owned cars, trucks and SUVs.
Orwigsburg, PA — Preferred Automobile Credit Co. (PACCO) announced recently that it has expanded both the age and mileage limits of vehicles eligible for financing. Effective immediately, PACCO is increasing the allowable age of eligible cars, SUVs and trucks from eight to 10 years, and the maximum allowable mileage from 115,000 to 130,000.
“In recent years, the pool of quality used cars has been shrinking, making it more challenging for dealers to find quality inventory,” says PACCO President CJ Zaruba. “At the same time, we’ve found that older model year and higher mileage vehicles, when purchased from quality dealers, pose no greater collateral risk to PACCO. The industry is changing, and we are changing with it.”
PACCO is a member of the American Financial Services Association (AFSA), and a sister company of Preferred Warranties, Inc. It offers its financial services through independent automotive dealers who sell Preferred Warranties service contracts in Indiana, Michigan, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia and West Virginia.
“Our sales team works hard to be true consultants and help dealerships manage and grow their business,” says Wayne Herring, Jr., Preferred Warranties’ national sales manager. “Connecting our dealers with reputable lending partners is one of the ways that we can bring extra value to the relationship.”
PACCO is one of several financing sources that Preferred Warranties brings to qualified dealerships. Other subprime lending partners include Leaders Financial, Preferred Auto Finance LLC and Pinnacle Financial Group.
Since 1992, Preferred Warranties, Inc. has provided consumers with an assurance of quality vehicles backed by quality coverage. In 2003, the company established PACCO as a financial affiliate that could provide consumers with auto loans that offer the same high levels of reliability, confidence and trust.