Synchrony Financial Drives New Relationship with Mavis Discount Tire to Advance Consumer Financing Options

Partnership gives Mavis Discount Tire customers access to competitive financing

Wednesday, September 13, 2017 11:56 am EDT

Dateline:

STAMFORD, Conn.

Public Company Information:

NYSE:
SYF

STAMFORD, Conn.--(BUSINESS WIRE)--Synchrony Financial and Mavis Discount Tire (“Mavis”) today introduced a new consumer financing program that will be available through Synchrony’s Car Care network. The new financing options allow customers to purchase new tires and automotive services, when needed, without the worry of large out-of-pocket payments.

“The Synchrony Car Care financing program is an important tool for growing our customer base and providing them with a new range of purchasing options,” said Dave Sorbaro, Co-CEO of Mavis Discount Tire. “Synchrony Financial’s commitment to providing safe, easy financing will help us continue to meet our customers’ needs.”

Glenn Marino, Executive Vice President and CEO of Payment Solutions for Synchrony Financial said, “A set of new tires can be a significant purchase and with winter fast approaching, Synchrony Financial is proud to offer a consumer financing option that will allow customers to access the tires and services they need to keep their vehicles running smoothly in all weather conditions.”

Customers can access financing options at mavistire.com or by visiting their local Mavis Discount Tire store. Qualified cardholders1 enjoy an everyday value proposition of special financing for purchases of $199 or more. Also, as part of the Synchrony Car CareTM network, cardholders can take advantage of additional benefits, including using their Mavis Credit Card for convenient fill-ups at more than 185,000 gas stations nationwide.

1 Subject to credit approval

About Synchrony Financial

Synchrony Financial (NYSE:SYF) is one of the nation’s premier consumer financial services companies. Our roots in consumer finance trace back to 1932, and today we are the largest provider of private label credit cards in the United States based on purchase volume and receivables.* We provide a range of credit products through programs we have established with a diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers to help generate growth for our partners and offer financial flexibility to our customers. Through our partners’ over 365,000 locations across the United States and Canada, and their websites and mobile applications, we offer our customers a variety of credit products to finance the purchase of goods and services. Synchrony Financial offers private label credit cards, Dual Card™, and general purpose co-branded credit cards, promotional financing and installment lending, loyalty programs and FDIC-insured savings products through Synchrony Bank. More information can be found at www.synchronyfinancial.com, www.facebook.com/SynchronyFinancial, www.linkedin.com/company/synchrony-financial and www.twitter.com/SYFNews.

*Source: The Nilson Report (June 2017, Issue # 1112) - based on 2016 data.

About Mavis Tires

Mavis Discount Tire has more than 334 locations as well as three franchises in New York, New Jersey, Connecticut, Massachusetts and Pennsylvania and is one of the largest independently owned tire retailers in the United States.

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Contact:

Mavis Discount Tire
Pat Schulte, 914-984-2500
pschulte@mavistire.com

Synchrony Financial
Kristen Prestano, 212-279-3115 x 217
kprestano@syf.com

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