Rosy Outlook: Dell Financing Partner Renews Contract

Posted by accountingweb on Nov 6 2000 101 printer friendly

Austin, TX-based Dell Computer Corporation got a shot in the arm when its financial partner, CIT Group of New York, renewed the contract for supporting Dell Financial Services. The contract renewal will last five years.

The division is in place to help customers lease and finance computers, and while many customers pay in full for their purchase, CIT is convinced that there may be as much as a 40 percent rate of growth during 2001.

This is good news for Dell Financial in spite of Dell's overall slower pace. Growth at Dell is expected to be 26.5 percent for 2000, down from 38.5 percent growth in 1999.

CIT has agreed to remain the finance arm of only Dell with respect to computers by providing an exclusive partnership.

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