Mecum Financial Services Celebrates Five Years and $150 Million Financed

May 22, 2024 by Mecum

Mecum Financial Services Celebrates Five Years and $150 Million Financed

Mecum's Indy 2024 Auction Marks Fifth Anniversary for MFS and 3,368 Vehicle Loans to Date

Mecum Financial Services (MFS) celebrated its fifth successful year of providing competitive loans to Mecum customers at Dana Mecum's 37th Original Spring Classic. Held this May 10-18 at the Indiana State Fairgrounds, the Indy 2024 auction featured the presentation of a ceremonial check showing more than $150 million—the amount that MFS has thus far helped Mecum customers secure for the purchase of their dream vehicles.

Mecum Auctions launched the MFS lending program five years ago at Dana Mecum's 33rd Original Spring Classic auction in Indianapolis and has since facilitated more than 3,368 individual loan transactions for the purchase of classic and collector automobiles sold at Mecum events. The success of the program inspired the recent ceremonial check presentation at this year's Indy auction, with MFS Director Lee Giannone taking to the stage to hand the check for $153,163,470 to Mecum Auctions Founder and President Dana Mecum.

'From the beginning, we recognized an underserved market niche that, if delivered and serviced effectively, would provide value to both Mecum Auctions and our customers,' said Giannone. 'Five years later, the number of transactions and total loan volume is evidence of the value that we're providing to new and current customers to purchase the collector car of their dreams.'

MFS was developed to expand the end-to-end Mecum collector car services to include financing in addition to buying, selling and transporting, making Mecum auctions a convenient one-stop-shop for buyers and sellers alike. Unlike traditional after-purchase bank or credit union financing, which is often not offered for older classic cars, the MFS program is centered around the unique requirements of financing collector cars and motorcycles in an auction setting. MFS offers competitive rates and a simplified application process that can be completed in as few as three minutes.

For more information on Mecum Financial Services or upcoming Mecum auctions, visit Mecum.com or call (262) 275-5050. Mecum's website is updated daily with the latest consignments and includes detailed descriptions and photographs of the vehicles and other items offered.