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Navistar International Corp. said Tuesday it is expanding its financing relationship with GE Capital, under which GE will become Navistar’s preferred financing provider for Navistar’s U.S. trucks and school buses.
The agreement takes effect immediately under the name Navistar Capital, with full implementation in 90 days, the companies said. GE Capital has provided dealer financing to Navistar in Canada since 1986.
About 60 employees of Navistar Financial Corp. who support NFC’s retail business will join GE Capital to manage the program, Navistar said.
“GE Capital’s financial strength, combined with the NFC team’s experience and integration with distribution, will result in a significantly stronger ability to help finance the sale of Navistar products,” Bill McMenamin, NFC’s chief financial officer, said in a statement.
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