MyDealerOnline finalized an exclusive partnership with Bendary Car Corp. out of New York on Monday, creating a new distribution agreement that will allow MyDealerOnline to expand to multiple international automotive markets.
Under the agreement, officials explained, the partnership involving Bendary and MyDealerOnline focuses initially on the Middle Eastern and African markets with future expansion planned.
The companies indicated overseas dealers who subscribe to MyDealerOnline will receive immediate access to U.S. auction inventory, technology, resources and support.
“MyDealerOnline is a perfect fit for our long-term growth,” Bendary president Ahmed Bendary said. “Overseas dealers will gain greater access to U.S. auction inventory, $0 brokerage fees and $0 logistics markup.
“Bendary Car Corp. will provide interest-free financing up to 50 percent of the vehicle cost. Also, interest-free financing will continue until the car sells for qualified dealers,” Bendary continued. “This program will add working capital needed to make overseas dealers successful.”
The companies went on to mention the distribution partnership can provide MyDealerOnline with the opportunity to establish dealer relationships throughout the world.
“Our No. 1 goal is to help overseas dealers gain access to U.S. inventory and grow their dealerships,” said Scott Stephens, vice president of business development at MyDealerOnline.
“Export is important to the success of U.S. used-car consignors. They will now have access to thousands of additional overseas buyers,” Stephens went on to say.
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