Issue: Oct 2009


GE Money and Carsmetics offer consumer financing program for auto repairs



CarCareOne Financing Available Through Carsmetics’ 17 Locations in Florida, California Puts Consumers in Financing Fast Lane

by Ron Charles

GE Money, the consumer lending unit of General Electric Company and Carsmetics today announced an agreement to offer a consumer financing program for making auto repairs. The program, CarCareOne, is a private label credit program that offers consumers a no annual fee card with no down payment required and an optional customer payment protection plan. It is managed by GE Money’s Sales Finance unit, which provides billions of dollars of consumer financing through more than 145,000 small and medium business locations on Main Streets across the United States.

“Since we began, Carsmetics has been focused on providing fast, efficient repair service at an affordable cost,” said Lucy Chapman, director of marketing for Carsmetics. “Offering the CarCareOne program is yet another way we are reinforcing this commitment to our customers.”

According to Carsmetics, which offers express accident repair service concentrating on drivable automotive repairs, 70 percent of all accidents leave the vehicle in drivable condition, with no structural repairs needed.

Car owners can use the new financing program to pay for repair services, including collision, drivable and cosmetic damages. These deferred interest promotional terms can also be used to pay for insurance deductibles.

In addition to offering the CareCareOne card, Carsmetics’ stores will have access to GE Money’s Web-based finance management portal, Business Center. Business Center provides business clients with an easy, secure way to manage their credit programs and better serve their customers. Thousands of small businesses like Carsmetics use GE Money’s Business Center to securely access all the sales, operational, marketing and training tools they need at the click of a button. Convenient online account management is also available for cardholders.

“We are extremely pleased to team with Carsmetics,” said Steve Roe, general manager, Automotive, GE Money – Sales Finance. “This program offers a new, flexible and convenient way for car owners to make the repairs they need and get back on the road again quickly and cost effectively.”

About Carsmetics

Since 1997, Carsmetics has offered express accident repair service concentrating on drivable automotive repairs. Their 17 locations in California and Florida offer express accident and cosmetic repair services. For more information, visit www.carsmetics.com.

About GE Money

GE Money’s Sales Finance unit, based in Kettering, Ohio, is a part of General Electric Company’s GE Capital division, (NYSE: GE). GE Money provides credit card programs and financial services for consumers through dealers; national, regional and independent retailers; associations; contractors; manufacturers; healthcare practices; and service providers in nearly 20 industries including: automotive, consumer electronics and appliances, elective health care, floor covering, home design and improvement, home furnishings, jewelry, music, powersports, outdoor power equipment and sporting goods. More information can be found at www.gemoney.com.

GE (NYSE: GE) is a diversified global infrastructure, finance and media company that is built to meet essential world needs. From energy, water, transportation and health to access to money and information, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. GE is Imagination at Work. For more information, visit the company's Web site at www.ge.com.

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