FAMCO launches machinery financing service
FAMCO looks to make buying equipment easier with new finance service
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.