Wednesday, May. 26, 2010, 08:00 PM UPDATED 12:01 PMBy Nick Zulovich
DES MOINES, Iowa — Chase Auto Finance unveiled a new office this week in Iowa's capital city.
Executives stressed the new Custom Finance office in Des Moines is meant to serve the subprime financing needs of dealers throughout the Central Plains. They noted the office houses an underwriting and funding team that can serve consumer finance needs for local dealers as well.
Chase indicated the office is located at 200 Valley West Dr., Suite 609, in West Des Moines. The company said the site is managed by Brian Hagaman, who also oversees Chase's Minneapolis business center.
Previously, Chase mentioned the Iowa and Nebraska markets were serviced from the Minneapolis center. Basically, the new Des Moines office is geared to complement the Minneapolis office, which still plans to service some collections and booking of loans.
"By offering local customer service, Chase can provide Iowa and Nebraska area dealers, and ultimately consumers, easier access to our subprime auto financing," explained Bill Jensen, Chase Custom Finance executive.
Chase now provides services to more than 15,000 dealers through 40 business centers nationwide.
The company highlighted that local Chase teams can provide a full suite of services to dealerships through prime and subprime business centers. Its Dealer Commercial Services division serves as a non-captive floor plan and commercial loan provider for dealerships and can offer treasury management services, real estate financing and other commercial banking services to franchised dealers.