Hagerstown, MD (November 16, 2016) – Jerr-Dan Corporation, an Oshkosh Corporation Company (NYSE: OSK) and a leader in the towing and recovery business, has introduced its first-ever financing program, Jerr-Dan Financial Solutions (JDFS). Through this program, distributors can now provide financing directly to their customers from Jerr-Dan on new and used Jerr-Dan equipment.
In an effort to streamline and consolidate the current financing process for both dealers and their customers, Jerr-Dan has partnered with Advantage Funding, one of the nation’s premier independent commercial transportation lenders, to form a ‘one-stop shop’ for leases and loans. This partnership will enhance Jerr-Dan’s lending solutions in order to help customers meet their goals.
“Advantage Funding was the ideal partner to Jerr-Dan in this groundbreaking program, said Jeff Irr, Senior Director of Sales at Jerr-Dan. “Not only are they familiar with our industry; they understand our customers’ needs.”
The partnership combines Jerr-Dan’s tow industry expertise with convenient access to lending support at the point of purchase as part of Jerr-Dan’s ‘Full Circle Program’ for dealers. Designed to facilitate business growth and improve customer relations, the program offers tailored finance plans, and strategies to enhance brand loyalty, among other benefits to both tow-truck distributors and buyers. Financing is competitive for dealerships of various sizes and credit ratings.
Jerr-Dan also provides servicing to buyers through the name of the originating dealership, helping dealers build and maintain better relationships with their customers.
"Our partnership is designed to make financing solutions seamless and flexible to further enhance customer experience,” says Al Damiani, CEO of Advantage Funding.
For customers, JDFS offers a vast range of benefits designed to make purchasing equipment more financially viable and manageable, including:
- 100% financing with no down payment for qualified buyers.
- Multiple competitive interest rates and terms are available.
- Terms ranging from 24-84 months.
- 24-hour turnaround on all credit submissions.
- Plans include consultation with industry experts, as well as assistance with used-asset
disposal.
- For single-unit operators or owners of large fleets, JDFS simplifies the process of
obtaining financing through fast, simple, hassle-free transactions.
- Financing plans are completely customizable, in keeping with the spirit of innovation
that has characterized Jerr-Dan for more than 50 years.
For more information about Jerr-Dan Financial Solutions, please visit jerrdan.com/financing.
Forward-Looking Statements
This press release contains statements that the Company believes to be “forward-looking
statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All
statements other than statements of historical fact, including, without limitation, statements regarding the Company’s future financial position, business strategy, targets, projected sales, costs, earnings, capital expenditures, debt levels and cash flows, and plans and objectives of management for future operations, are forward-looking statements. When used in this press release, words such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “should,” “project” or “plan” or the negative thereof or variations thereon or similar terminology are generally intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond the Company’s control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements.
These factors include the cyclical nature of the Company’s access equipment, commercial and fire & emergency markets, which are particularly impacted by the strength of U.S. and European economies and construction seasons; the Company’s estimates of access equipment demand which, among other factors, is influenced by customer historical buying patterns and rental company fleet replacement strategies; the strength of the U.S. dollar and its impact on Company exports, translation of foreign sales and purchased materials; the expected level and timing of U.S. Department of Defense (“DoD”) and international defense customer procurement of products and services and funding thereof; the Company’s ability to utilize material and components which it has committed to purchase from suppliers; risks related to reductions in government expenditures in light of U.S. defense budget pressures, sequestration and an uncertain DoD tactical wheeled vehicle strategy; risks related to the Company’s future defense segment results depending upon the outcome of a competitor’s lawsuit regarding the JLTV production contract award to the Company; the Company’s ability to increase prices to raise margins or offset higher input costs; increasing commodity and other raw material costs, particularly in a sustained economic recovery; risks related to facilities expansion, consolidation and alignment, including the amounts of related costs and charges and that anticipated cost savings may not be achieved; global economic uncertainty, which could lead to additional impairment charges related to many of the Company’s intangible assets and/or a slower recovery in the Company’s cyclical businesses than Company or equity market expectations; projected adoption rates of work at height machinery in emerging markets; the impact of severe weather or natural disasters that may affect the Company, its suppliers or its customers; risks related to the collectability of receivables, particularly for those businesses with exposure to construction markets; the cost of any warranty campaigns related to the Company’s products; risks related to production or shipment delays arising from quality or production issues; risks associated with international operations and sales, including compliance with the Foreign Corrupt Practices Act; the Company’s ability to comply with complex laws and regulations applicable to U.S. government contractors; cybersecurity risks and costs of defending against,
mitigating and responding to a data security breach; and risks related to the Company’s ability to successfully execute on its strategic road map and meet its long-term financial goals.
Additional information concerning these and other factors is contained in the Company’s filings with the Securities and Exchange Commission. All forward-looking statements speak only as of the date of this press release. The Company assumes no obligation, and disclaims any obligation, to update information contained in this press release. Investors should be aware that the Company may not update such information until the Company’s next quarterly earnings conference call, if at all.
About Jerr-Dan Corporation
Jerr-Dan Corporation, an Oshkosh Corporation [NYSE: OSK] company, is a leading manufacturer of towing and recovery equipment. Its full line includes light-, medium- and heavyduty carriers and wreckers, industrial transporters and four-car carriers. The company is
headquartered in Hagerstown, MD., and its products are backed by industry-leading warranties
and a strong service network dedicated to the towing professional. To learn more about Jerr-
Dan, visit www.jerrdan.com.
About Oshkosh Corporation
Oshkosh Corporation is a leading designer, manufacturer and marketer of a broad range
of access equipment, commercial, fire & emergency, military and specialty vehicles and vehicle
bodies. Oshkosh Corporation manufactures, distributes and services products under the brands
of Oshkosh®, JLG®, Pierce®, McNeilus®, Jerr-Dan®, Frontline™, CON-E-CO®, London® and IMT®.
Oshkosh products are valued worldwide by rental companies, concrete placement and refuse
collection businesses, fire & emergency departments, municipal and airport services and
defense forces, where high quality, superior performance, rugged reliability and long-term value
are paramount. For more information, please visit www.oshkoshcorporation.com.
About Advantage Funding
Advantage Funding, based in Lake Success, New York, and founded in 1997, is dedicated to
providing equipment financing and leasing solutions for the commercial transportation industry.
Advantage Funding aims to support vehicle dealers, distributors, manufacturers and end users
nationwide. For more information, please visit www.advantagefund.com.
®, TM All brand names referred to in this news release are trademarks of Oshkosh Corporation or
its subsidiary companies.
FOR FURTHER INFORMATION CONTACT:
Ashley Soverns, Marketing Communications Manager
(240)-420-8781
amsoverns@jerrdan.com