We are excited to share, effective January, 2020, McMahon Automotive Group is now a subsidiary of The Bancorp, Inc. (NASDAQ: TBBK)!
The Bancorp will provide McMahon and their valued customers additional flexibility while enabling them to substantially grow their commercial portfolio. What does this mean for the day-to-day operation and vision for the future? Here’s what you need to know:
- Expert counsel, quality selection of pre-owned and new vehicles, competitive pricing for leasing and sales with an unchanged relationship.
- Consumer business, including leasing, new vehicle sales, and used vehicle sales will remain exactly the same.
- In the upcoming months, current commercial customers will receive their invoice directly from The Bancorp.
The commercial division is where we anticipate this partnership to fuel significant positive growth. The Bancorp will provide their commercial accounts and future partners; funding, improved technology, and a national presence with over 20,000 vehicles in their present portfolio.
This partnership will introduce competitive funding, with no limitations on medium and large commercial fleet, municipal agencies, and certain heavy-duty trucks to elevate our position in a growing, competitive marketplace.
In the spirit of full transparency, we want to be clear, our deciding factor in making this partnership a reality was simple; The Bancorp shares the same values, vision, and commitment to people and relationships that McMahon Automotive Group always has and always will continue to hold dear. Their respect for our long-standing relationship with our clients, legacy, and manner in which we have served this market for over 35 years will allow us to expand our reach and offer the same level of care to new markets.
Rest assured, the McMahon name, the integrity it implies, and the same dedicated staff will remain as steadfast, committed, passionate, and certain as ever.
If you have any questions, please reach out to Joe, P.J., Dan. We are very excited about this opportunity and are looking forward to a growing relationship!