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NewswireToday - /newswire/ -
Montréal, Québec, Canada, 06/12/2009 - Vehicle repair loan company announces new services for Ontario vehicle repairers enabling them to hand off unsettled invoices.
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CARFCO - Car and Truck Repair Financing Co., one of the sole lenders of secured vehicle repair loans in Canada, has announced a new factoring service that will permit Ontario-based mechanics to sign over their invoices.
The company's CEO, Martin Lander had this to say about the news, "We are extremely excited and proud to announce this new service in Ontario. This will make vehicle repairers' jobs easier by cutting down tremendously on their accounts receivables and increasing their profits."
CARFCO (carfco.com) was founded in 2007 and is the only Canadian based finance company providing car repair loans directly to vehicle owners. Car repair loans are essentially car title loans that are secured based on the value of the borrower's vehicle. In the past, CARFCO's loans were only available to individuals with fully paid for automobiles; vehicles could not be leased or have any pre-existing loans against them.
With CARFCO's new service in the province of Ontario, the company will now deal directly with mechanics. Previously vehicle repairers were forced to turn away customers that couldn't afford the cost of repairs since they couldn't afford the risk of offering them credit. With the new service being offered by CARFCO, repairers are able to have CARFCO purchase their invoices, even if a vehicle has an outstanding lien against it. CARFCO then assumes all the risk and security of the mechanical lien and the responsibility of collecting payments leaving mechanics able to service more of the customers that would have previously been turned away. This new services makes CARFCO the first lender in the country to offer this type of service to Mechanics.
CARFCO's new services are in effect immediately. Mechanics who are interested in learning more about the company and registering for their financing services may do so at their website.
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Agency / Source: CARFCO - Car Repair Financing Co.
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Contact: Molly Wider - Carfco.com
877-787-1682  kelly[.]bhmfinancial.com
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