November 07, 2012 // Franchising.com // CARMEL, Ind. – J.D. Byrider, the country’s leading used car sales and finance enterprise, has reached a new milestone - $1 billion in outstanding retail installment contracts. Over the 23 years the company has been in business, it has sold and financed almost one million cars for customers with credit challenges who may otherwise not be able to secure reliable transportation.
In addition to this milestone, 2012 has been one of the biggest years of growth for J.D. Byrider, which has 143 locations in 31 states. Already this year, the company has opened 11 franchise locations (Columbus, Ga.; Beckley, W. Va.; Flint, Mich.; East Dundee, Ill.; Waco, Texas; Highland, Ind.; Richmond, Va.; Oak Lawn, Ill.; Opelika, Ala.; Orlando, Fla.; and Durham, N.C.), with four more locations scheduled to open by the end of 2012. Initial plans for 2013 call for six new locations, with more growth expected.
“The $1 billion milestone is a reflection of 23 years of hard work and commitment to excellence by our employees and franchisees,” said Steve Wedding, J.D. Byrider CEO. “We will continue our aggressive growth plans, fueled in part by new capital infused in J.D. Byrider by Altamont Capital Partners.”
The acquisition of J.D. Byrider by private investment firm Altamont Capital Partners took place in May 2011, and earlier this year, J.D. Byrider completed its first asset-backed securitization, a $145 million deal led by RBS Securities.
Founded in 1989, J.D. Byrider is the nation’s leading used car sales and finance enterprise. The company was founded to serve customers with special auto financing needs and to ensure that they receive the same quality service in every J.D. Byrider dealership. With nearly 950,000 consumers matched to quality, affordable vehicles and a franchise system servicing approximately $1 billion in contracts, the company continues its focus on reliability and customer satisfaction. Headquartered near Indianapolis in Carmel, Ind., J.D. Byrider consists of 123 franchised- and 20 company-owned dealerships in 31 states. Visit www.jdbyrider.com to learn more.
Andrea Farmer | Linda Jackson