GMAC Commercial Mortgage, Budget Car and Truck Rental to Offer Truck Rental to Apartment ResidentsHORSHAM, Pa., August 27 /PRNewswire/ -- The Tenant Services Division of GMAC GMAC General Motors Acceptance Corporation
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GMAC Give Me A Chance Commercial Mortgage Corporation (GMACCM) has entered into an agreement with Budget Car and Truck Rental, the third largest worldwide car and truck rental system and a wholly owned subsidiary Wholly Owned Subsidiary
A subsidiary whose parent company owns 100% of its common stock.
In other words, the parent company owns the company outright and there are no minority owners. of Budget Group, Inc. (NYSE NYSE
See: New York Stock Exchange : BD), to offer local and one-way truck rentals and moving supplies to members of GMAC Resident's Advantage(SM). The premier program of the Tenant Services Division, Resident's Advantage gives apartment residents the opportunity to buy a broad range of products and services from national vendors through their property's rental office.
"Resident's Advantage fits well with Budget's strategy to reach one of its key consumer targets -- the apartment resident," explained Jeff Gutowsky, director, Truck Marketing of Budget Car and Truck Rental. "The program is mutually beneficial in that Budget offers residents a strong network of nearly 500 truck rental locations and a range of vehicle choices at a good value, and in turn, Budget gains access to a growing list of potential new customers."
"GMAC Resident's Advantage helps to attract and retain apartment renters by presenting them with a diversity of value-added products, discounts and convenience, while it creates revenue-generating opportunities for property owners," noted Marion Guthrie, director of consumer products and marketing. "We're very pleased to add Budget Car and Truck Rental, with their superior quality, reliability and service, to a growing list of products offered through Resident's Advantage."
GMAC Resident's Advantage also provides access to Internet, local and long distance telephone, cellular services, self-storage, furniture rental and purchase, financial services, renter's insurance, newspaper subscriptions and other valuable consumer products.
Budget Rent a Car Corporation, a wholly owned subsidiary of Budget Group, Inc. (NYSE: BD), is one of the world's top three car and truck rental systems. The Budget system, which operates under the same name worldwide, has more than 3,200 airport and local market locations in over 120 countries and territories. Budget caters to the truck rental needs of both commercial and consumer renters at approximately 500 locations throughout the U.S. with a peak fleet of more than 16,500 vehicles, ranging from cargo vans to 24-foot medium-duty trucks.
A wholly owned subsidiary of GMAC and the industry's leading one-stop financial resource, GMAC Commercial Mortgage Corporation provides a variety of products and services, including long-term, interim and construction lending. The diverse lending and servicing specialist has a commercial servicing portfolio in excess of $48 billion, and maintains 40 offices nationwide. GMACCM is headquartered in Horsham, Pa., a suburb of Philadelphia.
Press releases and other information about GMAC Commercial Mortgage and its products and services are available at http://www.gmaccm.com on the Internet. For GMACCM press releases by fax, call 800-758-5804, ext. 122720.
SOURCE GMAC Commercial Mortgage Corporation
/CONTACT: Marion Guthrie, Director, Marketing & Consumer Products, GMACCM-Tenant Services Division, 215-328-1428, or Mguthrie@GMACTS.com; or Scott Rombach of GMAC Commercial Mortgage, 215-328-3383/
/Company News On-Call: http://www.prnewswire.com or fax, 800-758-5804, ext. 122720/
/Web site: http://www.gmaccm.com/
CO: Budget Group, Inc.; GMAC; GMAC Commercial Mortgage Corporation; Budget
Car and Truck Rental ST: Pennsylvania IN: FIN RLT RLT Revocable Living Trust
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