Isuzu Launches Captive Finance Company

30 June 1998

Isuzu Launches Captive Finance Company

    BUENA PARK, Calif.--June 30, 1998--Isuzu Motors America Inc. and American Isuzu Motors Inc. jointly announced the formation of a captive finance company to assist Isuzu dealers and their customers with financing and leasing programs.
    The new company, Isuzu Motors Acceptance Corp., or IMAC as it shall also be known, was incorporated in California, Sept. 25, 1997. IMAC is a wholly owned subsidiary of Isuzu Motors America Inc. and has headquarters in Buena Park. Business is scheduled to commence on July 1, 1998. Initially, IMAC will service all Isuzu Commercial Vehicle dealerships in the United States and Light Vehicle dealerships in western and southeastern states.
    Appointed to head the new company are Katsumi Masuda, president/chief financial officer and Elliott J. Cody, senior vice president/general manager. Prior to IMAC's incorporation, Masuda served as deputy general manager of Isuzu Motors Limited, Japan. Cody has extensive experience in auto and retail finance, formerly serving as chief financial officer of AutoFinance Group Inc.
    IMAC will offer finance and lease programs aimed at Isuzu customers as well as wholesale inventory financing for Isuzu dealers. IMAC's management anticipates expanding its product lines to include financial programs for previously owned vehicles and capital improvement loans for Isuzu dealers.
    "IMAC's corporate mission ensures the organization will offer innovative and sound financial products supported by the highest levels of customer service," said Cody. "Our goal is to make the purchase or lease of an Isuzu vehicle an even easier and more pleasant buying experience."