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How Navistar International and Keystone Built a Strategic Equipment Financing Partnership

Company Info

 Navistar International 

Location

Nationwide

Background

Navistar International Corporation, a subsidiary of International®, functions as the captive finance company for purchasers of International equipment. International is an American manufacturer of commercial vehicles and engines, and operates 10 used truck dealerships offering a wide selection of fleet-maintained commercial vehicles. Navistar International’s mission is to provide flexible, customer-focused financing solutions tailored to the unique needs of the commercial vehicle industry.

“The deal is not good unless all parties win. We try to match the customer to the finance partner. And we’ve been able to sell more equipment because of Keystone.”
- Len Wiersma, Associate Director, F&I, International Financial Corporation

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Situation

In 2016, Navistar identified a growing gap in its ability to serve every prospective buyer. While its internal financing solutions met the needs of many, some customers required alternative options because they didn’t meet Navistar’s credit requirements. Recognizing the importance of expanding its financing reach, Navistar sought strategic partnerships with lenders that could offer both credit flexibility and a deep understanding of the commercial vehicle market.

 

Through a referral from another equipment dealer who later joined International, Navistar was introduced to Keystone Equipment Finance Corp. This connection was facilitated by its referral lender program through Steve Waxman, Vice President and National Sales Manager at Keystone. Keystone was already familiar with the International network, as Ari Shell, Senior Sales Manager at Keystone, had been collaborating with a general manager at an International dealership since 2008. This relationship laid the groundwork for a new financing partnership.

Solution

Keystone and Navistar developed this partnership. Both parties have gone through ebbs and flows that coincide with the industry trends but have remained committed to the relationship. In October 2024, Navistar International Corporation rebranded as International Motors, LLC. Around the same time, Len Wiersma, a seasoned professional with over 35 years of experience in equipment finance, joined the organization. Len was instrumental in transforming the relationship between the two companies.

 

What began as a simple referral relationship gradually evolved into a strong, collaborative partnership. Navistar’s sales team took the initiative to understand Keystone’s credit guidelines, allowing them to effectively pre-qualify and refer customers who were a strong fit. This alignment helped streamline the financing process, accelerate sales cycles, and improve overall customer satisfaction.

 

“The deal is not good unless all parties win. We try to match the customer to the finance partner. And we’ve been able to sell more equipment because of Keystone.” — Len Wiersma, Associate Director, F&I, International Financial Corporation

 

Keystone’s extensive knowledge of the commercial vehicle industry, financial strength, and its flexible credit approach make it a reliable partner. The ability to understand the needs of International’s customer base has led to a consistently high funding success rate and better customer satisfaction.

Results

Today, Keystone is Navistar’s second-largest vendor partner out of eight finance providers, a testament to the strength and effectiveness of the relationship. What began as intermittent transactional support has grown into a true partnership rooted in trust, shared goals, and a commitment to customer success.

 

Both companies are invested in each other’s growth, demonstrating how an aligned vendor-finance partnership can drive better customer outcomes and long-term value for all parties involved.

 

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