Monday, July 15, 2024

Celebrating Five Years and $150 Million in Financing: A Milestone Achievement for Mecum Financial Services


Mecum Financial Services Celebrates Five Years and $150 Million Financed

Mecum Financial Services (MFS) recently reached a significant milestone, celebrating its fifth year of operation alongside an impressive achievement of over $150 million financed. This occasion was marked at the prestigious Dana Mecum’s 37th Original Spring Classic, hosted from May 10-18 at the Indiana State Fairgrounds. A highlight of the event was the notable presentation of a ceremonial check, symbolizing the tremendous support MFS has extended to Mecum customers in acquiring their dream vehicles.

Since its launch five years ago during Dana Mecum’s 33rd Original Spring Classic auction in Indianapolis, Mecum Financial Services has successfully facilitated more than 3,368 loan transactions. These loans have enabled countless enthusiasts to purchase classic and collector automobiles through Mecum’s auctions. The recent event in Indy served as a platform to celebrate this remarkable achievement, with MFS Director Lee Giannone presenting the ceremonial check for $153,163,470 to Mecum Auctions Founder and President Dana Mecum.

“From the beginning, we recognized an underserved market niche that, if delivered and serviced effectively, would provide value to both Mecum Auctions and our customers,” explained Giannone. “Five years later, the number of transactions and total loan volume is evidence of the value that we’re providing to new and current customers to purchase the collector car of their dreams.”

MFS was developed with the goal of enhancing Mecum’s end-to-end collector car services by adding financing to the mix. This initiative has transformed Mecum auctions into a convenient one-stop-shop experience, covering everything from buying, selling, transporting, and now financing. Specifically crafted to address the unique challenges of financing collector cars and motorcycles within the auction setting, MFS distinguishes itself from traditional financing options. The program offers competitive rates and boasts a simplified application process that can be completed in minimal time, often as fast as three minutes.

Mecum Financial Services continues to stand out by addressing the specific needs of those in the collector car market. Unlike standard bank or credit union financing, which frequently does not cater to older classic cars, MFS provides a tailored solution that acknowledges the unique value and appeal of these vehicles.

For enthusiasts interested in taking part in future auctions or seeking to finance the next addition to their collection, comprehensive information about Mecum Financial Services and upcoming auction events can be found by visiting Mecum’s website. The site is regularly updated with the latest consignments, featuring detailed descriptions and photographs of the vehicles and other items on offer.

Jordan Clark
Jordan Clark
Jordan Clark brings a dynamic and investigative approach to business reporting. Holding a degree in Business Administration and a certification in Data Analysis, Jordan has an eye for detail and a knack for uncovering the stories behind the numbers. His career began in the bustling world of Silicon Valley startups, giving him firsthand experience in tech entrepreneurship and venture capital. Jordan's reports often focus on technology's impact on business, startup culture, and emerging

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