AVOCA, Pa., Dec. 29, 2010 /PRNewswire/ -- GWC Warranty Corporation (GWC), one of the largest nationwide providers of service contracts to independent and franchise dealers, and Tidewater Motor Credit (TMC), a leading, national sub-prime auto finance lender, announce their vehicle service contract strategic alliance. Starting in January 2011, TMC will offer through its dealers their exclusive GWC vehicle service contract, providing their dealers more tools for profitability and loan customers with peace of mind when purchasing pre-owned vehicles. "Tidewater Motor Credit is excited to partner with GWC Warranty Corporation, a nationally recognized automobile service contract provider. GWC is known for their commitment to automobile dealers and their protection of customers and lenders, which aligns with our strategic vision as we continue to expand in 2011," notes Paul Bale, Director of Marketing for TMC.
In today's economic climate, consumers are choosing to purchase pre-owned vehicles and managing their budget closely. TMC is helping them with flexible financing options and GWC is protecting them against the financial challenges of unpredictable mechanical breakdowns.
"Tidewater and GWC have worked side by side in the retail automotive industry for many years offering great products to dealers and consumers. Our alliance brings those strengths together in one powerful offering," states Chris Barry, Vice President for Strategic Alliances for GWC. He added, "Satisfied consumers return to dealers for their next purchase and servicing. Performing vehicles lead to better performing loans. This is the power of the TMC and GWC alliance."
About Tidewater Motor Credit
Tidewater Motor Credit (TMC), located in Virginia Beach, VA, has been purchasing retail installment contracts from both franchised and independent automobile dealerships across the United States since 1995. Since inception, TMC has sought to be a lender of choice by establishing long standing relationships with many national automotive groups. TMC was recently ranked first among companies specializing in Open Chapter 7 Bankruptcy. By applying a common sense approach to each application, TMC has the unique ability to price and purchase contracts other companies might otherwise overlook. TMC currently has relationships with dealerships in 25 states with plans to expand their dealer network in 2011. For additional information please visit our website: www.TidewaterMotor.com
About GWC Warranty Corporation
GWC is a leading provider of vehicle service contracts and related finance and insurance products sold through automotive dealers. Over the past 15 years, GWC has built one of the few integrated platforms in the industry, providing sales and marketing, state-of-the-art claims administration, and products backed by an A.M. Best "A-Excellent" rated insurance company. GWC is the trusted partner of over 20,000 franchise and independent car dealerships in 37 states. GWC is owned by CIVC Partners, a Chicago based private equity firm with over $1.3 Billion under management. For more information about GWC please visit www.GWCWarranty.com.