e q u i p m e n t

Cummins Debuts Credit Card For Owner-Operators, Small Fleets

Cummins Engine Co. is introducing Business First, a revolving line of credit for owner-operators and small fleets that can be used to buy parts, service or products sold by authorized Cummins dealers and distributors.
The plan is not limited to just engine parts, although the program is aimed primarily at owner-operators and small fleets in need of major repairs such as an engine overhaul, says Rich Gold, Cummins vp-Aftermarket Business.
Slated to be offered in early ’98, the program will be expanded to truck dealers and other outlets authorized to perform Cummins engine service work, repairs, overhauls, etc.
The Cummins aftermarket financial program is aimed primarily at the Cummins engine user who is likely to need major engine work and other substantial truck repairs. According to Amy Adams, market manager for Business First, this operator is usually the second or third owner of a high-mileage vehicle in need of its first or second overhaul.
Business First is a private-branded credit card serviced by General Electric Capital Corp. with a credit limit based on the applicant’s credit status.
Monthly interest rate is said to be comparable to other consumer credit cards such as VISA or MasterCard — in the 18% APR range. Applications for a Business First card can usually be processed in 30 minutes or less when faxed from a dealer location.
Other card benefits include:
• Centralized billing every month for purchases and service work done anywhere in the U.S. and later in Canada.
• Tracking of business expenses by total spent, by location or by individual vehicle.
• A limited road assistance.
• A quarterly newsletter describing new or expanded features .
The Business First program has already been announced to Cummins distributors and dealers. Plans call for dealers to sign up for the program by February. Goal is to have 700 locations nationwide by June.