Agreement enables Ryder Canada to provide a wider range of programs
and competitive financing options nationwide
MIAMI--(BUSINESS WIRE)--
Ryder System, Inc. (NYSE:R), a leader in commercial
fleet management, dedicated
transportation, and supply
chain solutions, today announced that it is making it easier than
ever for customers to finance quality pre-owned vehicles. The Company
recently extended its U.S. preferred lender agreement with CIT Group
Inc. (NYSE: CIT), a leading provider of commercial lending and leasing
services, to now include Ryder customers in Canada.
For the past four years, CIT, through its Direct
Capital Corporation subsidiary, has been a preferred lender for
Ryder Pre-Owned Vehicle Sales Centers across the United States. The
Canadian partnership adds CIT to a list of preferred lenders, providing
Ryder customers with more options for lending partners. The partnership
increases the variety of highly competitive financing programs and
additional alternatives for Ryder customers across Canada.
“We are pleased to extend the benefits of this partnership to Canadian
businesses looking for the best rates and more financing options for
quality pre-owned vehicles,” stated Michael Cagney, Director Asset
Management Ryder Canada. “Offering our customers the convenience of a
true, one-stop resource is a key initiative for Ryder. With this
agreement, our customers can take advantage of financing options that
will help their businesses grow, while reducing financing costs.”
Blake Macaskill, Managing Director of CIT
Canada, said, “We are excited to be developing and expanding our
partnership with Ryder Canada. One of the many benefits of the CIT
acquisition of Direct Capital is the ability to offer our partners
consistent financing programs in both Canada and the United States.”
Customers across Canada can choose from Ryder’s vast selection of
pre-owned cab and chassis trucks, including diesel-powered straight
truck models with a full range of payload capacities. Ryder currently
offers the largest inventory of pre-owned vehicles for sale in North
America, selling more than 17,000 vehicles a year from over 59 used
truck centers across North America, including seven in Canada. To view
Ryder’s complete Canadian coast to coast inventory, please visit, www.ryderusedtruck.ca.
About Ryder
Ryder is a FORTUNE 500® commercial fleet management, dedicated
transportation, and supply chain solutions company. Ryder’s stock
(NYSE:R) is a component of the Dow Jones Transportation Average and the
Standard & Poor’s 500 Index. Inbound Logistics magazine has
recognized Ryder as a top third party logistics provider and green
supply chain partner. In addition, Security Magazine has named
Ryder one of the top companies for security practices in the
transportation, logistics, supply chain, and warehousing sector. Ryder
Canada is a proud supporter of the Canadian Cancer Society, a national
community-based organization of volunteers whose mission is the
eradication of cancer and the enhancement of the quality of life of
people living with cancer. For more information, visit www.ryder.com
and follow us on Facebook,
YouTube,
Twitter,
and on our Online
Newsroom.
About CIT
Founded in 1908, CIT (NYSE: CIT) is a financial holding company with
more than $35 billion in financing and leasing assets. It
provides financing, leasing and advisory services to its clients and
their customers across more than 30 industries. CIT maintains leadership
positions in middle
market lending, factoring,
retail
and equipment
finance, as well as aerospace,
equipment
and rail
leasing. CIT’s U.S. bank subsidiary CIT Bank (Member FDIC),
BankOnCIT.com, offers a variety of savings options designed to help
customers achieve their financial goals. cit.com
Note Regarding Forward-Looking Statements: Certain statements
and information included in this news release are "forward-looking
statements" within the meaning of the Federal Private Securities
Litigation Reform Act of 1995. These forward-looking statements
are based on our current plans and expectations and are subject to
risks, uncertainties and assumptions. Accordingly, these
forward-looking statements should be evaluated with consideration given
to the many risks and uncertainties that could cause actual results and
events to differ materially from those in the forward-looking statements
including those risks set forth in our periodic filings with the
Securities and Exchange Commission. New risks emerge from time to
time. It is not possible for management to predict all such risk
factors or to assess the impact of such risks on our business. Accordingly,
we undertake no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise.
Source: Ryder System, Inc.