Specialized solutions for new car auto dealers.
Established in 1849 in Detroit—the world’s automotive capital—Comerica Bank is proud of our long-standing commitment to the automobile dealership industry. For over half a century, we’ve been a leading source of financial support for dealerships of all sizes throughout the United States.
We’re one of the largest non-captive providers of wholesale financing to dealerships. With the average tenure of our relationship managers at approximately 25 years, our dedicated National Dealer Services group thoroughly understands the specific financial needs of your industry, with the knowledge needed to facilitate your growth through acquisition, real estate and facility improvement financing. Our relationship banking model is centered around our clients with your relationship manager serving as your single point of contact for all your banking needs. This approach allows us to be very responsive to your needs.
To best serve you, we operate nine loan production offices in key automotive markets across the country. You can count on our National Dealer Services group to provide a full range of additional financial services, from cash management and trust for your business, to jumbo mortgages and financing for yachts and aircrafts for your personal needs.
- Major player in automotive dealer finance industry for over 70 consecutive years
- $6 Billion in outstandings to over 600 dealers in over 40 states
- Finance 11 of the Wards Top 20 Mega Dealers (28 of the Top 100)
- National platform with lending offices in Michigan, Illinois, California, Florida, Colorado, Texas, & North Carolina
- Experienced management team with 25 years average tenure
- Floorplan inventory financing
- Acquisition financing
- Dealership real estate financing
- Ownership transition financing
- Lease and working capital lines
- Treasury management services
- Interest rate risk management tools
- Credit card/merchant services
How can we help improve your business?
- Expanding your existing operations?
- Upgrading / Relocating your dealership?
- Acquiring additional dealerships or franchise add point?
- Partner buyouts?
- Are you using your cash efficiently & maximizing cash flow?
- Are you collecting receivables quickly & deferring payables?
- Are you aware of Sweep Account benefits?
- Who has access to your money & have you evaluated your internal controls?
- Do you review checks / electronic debits (ACH’s) prior to funding?
- How are you protected for interest rate fluctuations?
- Are you protected from the merchant liability shift that went into effect October, 2015?
- When was the last time you evaluated your trust & succession plan?
- Are you planning to acquire residential real estate, a boat or aircraft?
- Is your life insurance adequate?
- When was the last time your investments were evaluated?
Loans subject to credit approval and maximum loan amounts may apply.