Wachovia Dealer Services to Become Wells Fargo Dealer Services
By Jennifer Reed, Auto Group Editor
February 25, 2010
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SAN FRANCISCO — Wachovia Dealer Services is changing its name to Wells Fargo Dealer Services on March 20, a company spokesperson told SubPrime Auto Finance News on Wednesday.
"New name, same great relationship with our dealers. Our dealers can continue to count on the same localized, personalized service they've come to expect from our team," said Caren Roberson, company spokesperson.
"We offer nationwide indirect auto financing, comprehensive commercial services (offered through Wells Fargo Bank, N.A. and Wachovia Bank, N.A.), and a suite of aftermarket products and services available through Warranty Solutions," she added.
Back when the merger between Wachovia and Wells Fargo was first announced in late 2008, officials indicated that Wachovia Dealer Services would be taking over the indirect auto lending business for Wells Fargo.
"After thoughtfully assessing both companies' models for indirect lending, we believe this structure will take advantage of the economies of skill and talent in integrating our auto businesses. We believe the Wachovia Dealer Services model is the best model to meet all of the indirect auto finance needs of both Wells Fargo and Wachovia dealer customers after the merger," Wells Fargo said in a statement sent to dealers and associates at that time.
The name change is another step in this process.
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