Rifco National Auto Finance has reached a significant milestone: it has lent a total of one billion dollars to consumers since its inception more than 15 years ago, according to Doug Decksheimer, Vice President & CMO, Rifco National Auto Finance.
“We (recently) celebrated our one billionth dollar lend in the non-prime space in Canada,” said Decksheimer, in an interview with Canadian auto dealer.
The company provides consumers with automobile loans through dealers across the nation. “Some of these non-prime people are on their third loan with Rifco, at the same dealership,” said Decksheimer.
Rifco started off with two employees, worked through a credit and auto industry crisis, and more recently a prolonged Alberta downturn. Now the company has more than 100 employees, and has offered auto loans to more than 50,000 Canadians.
“Putting a billion dollars into context is difficult for me,” said Bill Graham, Rifco’s CEO, in a news release. “This milestone, one billion dollars lent, is a big deal.”
The company celebrated the accomplishment by awarding prizes leading up to the milestone — including an around-the-world trip to the dealer partner that helped them surpass the one-billion-dollar mark. The customer on the financed contract benefits from a “gas-for-a-year” prize.
