FAMCO launches machinery financing service

FAMCO looks to make buying equipment easier with new finance service

Financing options can assist customers with cash efficient solutions to fleet operation, said FAMCO managing director Paul Floyd.
Financing options can assist customers with cash efficient solutions to fleet operation, said FAMCO managing director Paul Floyd.

UAE-based FAMCO (Al-Futtaim Auto & Machinery Co), the Al-Futtaim Group distributor of commercial vehicles and construction equipment, has announced the launch of FAMCO Financial Services - a new division offering a range of financing packages for trucks, buses, construction equipment, forklifts, generators and compressors.

The newly-launched unit is working with several banks and gives customers access to an additional credit line, said FAMCO managing director Paul Floyd.

"We have now developed a full solution package for our customers. FAMCO Financial Services is another ingredient within a more sophisticated sales cycle aimed at satisfying a more demanding customer, where value and total cost of ownership have become more important," he explained.

"Now, we can include financing, service contracts and insurance in a single monthly payment, greatly assisting our customers with a cash efficient solution to the operation of their fleet."

The division also offers to combine repayments with insurance and service agreements, creating a single monthly bill. Shariah-compliant options are also available.

FAMCO is the exclusive distributor for a number of brands in the UAE, including Volvo Construction Equipment (Volvo CE) and Volvo Trucks. In Saudi Arabia it owns Al Rehab, distributor of Volvo CE, and it has a dealership in Oman. A branch in Qatar is due to launch in September 2012.

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