LOS ANGELES - Panoz Automotive Development Co., which makes the Esperante sports car, has signed a deal with Primus Financial Services to provide its dealers with factory-supported financing.
It's the first time that Panoz, of Hoschton, Ga., has created programs to help its dealers sell vehicles.
The Esperante has three models: the base, GT and GTLM. The base price is $90,450, including a $1,500 destination fee.
The program provides dealers with a $3,000 cash incentive for each 2001, 2002 or 2003 Esperante coupe or convertible sold through March or allows customers to qualify for 0 percent financing for 24- to 36-month terms, or 1.9 percent financing for 37- to 48-month terms.
Phil Nome, 60, a partner in Panoz Auto Marketing Co., says the company wants to boost the number of its dealerships from 40 to about 60. He says Panoz hopes to increase sales from 100 units in 2003 to 300 units in 2004.
Nome says he thinks factory-supported financing is a way to accomplish that goal.