StockNews.AI
SYF
StockNews.AI
90 days

Synchrony and Discount Tire Extend Long-Standing Partnership, Providing Drivers Nationwide with Financing Flexibility and Convenience

1. Synchrony extends 25-year partnership with Discount Tire, enhancing financing options. 2. Discount Tire card accepted at over 1,200 stores and one million locations. 3. Promotion offers deferred interest, no annual fees, and fraud liability coverage. 4. Partnership aims to make vehicle maintenance affordable amid rising costs. 5. Alignment with Apple Wallet simplifies in-store purchases for customers.

7m saved
Insight
Article

FAQ

Why Bullish?

The partnership extension signifies stable revenue streams and market credibility. Historical context shows that long-term partnerships boost stock performance, as seen with similar financing firms.

How important is it?

The article highlights strategic growth opportunities which is likely to attract investors. The extended partnership aligns with SYF's growth strategy and may influence share price positively.

Why Long Term?

The partnership's benefits will accumulate over time, enhancing customer loyalty and expanding financing access. Recent trends in consumer financing suggest prolonged relationships yield sustainable growth.

Related Companies

AAPLALLDFS
, /PRNewswire/ -- Synchrony (NYSE: SYF), a premier consumer financial services company, and Discount Tire, a leading independent retailer of tires and wheels, have extended their more than 25-year partnership. This extension ensures Discount Tire customers continue to have access to affordable and flexible financing options for their tire purchases and automotive needs through Synchrony's Car Care network. Customers can use their Discount Tire card at more than 1,200 retail stores in 39 states including Discount Tire, America's Tire, Dunn Tire, Suburban Tire Auto Repair Centers and Ellisville Tire and Service, as well as TireRack.com. The card is also accepted at more than one million additional locations nationwide within the Synchrony Car Care™ network, making auto-related purchases easier than ever. Customers can use their Discount Tire card at more than 1,200 retail stores in 39 states. The card is also accepted at more than one million additional locations nationwide within the Synchrony Car Care™ network, making auto-related purchases easier than ever. According to J.D. Power, tires last an average of six years or 50,000 miles and replacing tires can cost anywhere from hundreds to more than a thousand dollars, depending on type and size. The Discount Tire credit card, backed by the Synchrony Car Care network, gives customers access to exclusive financing offers to pay for tires and service, including deferred interest promotions based on their purchase amounts and special promotions. Additional cardholder perks include no annual fee and zero-dollar liability for fraud transactions. Customers can quickly see if they prequalify for the Discount Tire credit card with no impact to their credit score online. "As the age of vehicles on the road increase and maintenance costs rise, our financing solutions help drivers stay safe while managing their budgets effectively," said Curtis Howse, EVP & CEO of Synchrony Home & Auto. "Extending our partnership with Discount Tire reinforces our commitment to making tire and wheel purchases and other necessary auto purchases more accessible and affordable for millions of drivers." As a cornerstone of the Synchrony Car Care network, Discount Tire provides millions of cardholders with trusted service and financing options tailored to their needs. Cardholders also have access to a number of innovative digital payment solutions, streamlining the application and account management process. Discount Tire is currently Synchrony's only auto retailer whose credit card can be added to Apple Wallet® for seamless in-store purchases via Apple Pay®."Our continued partnership with Synchrony is a testament to our shared commitment to making tire and wheel purchases easy, inviting, and safe for customers," said Christian Roe, Chief Revenue Officer at Discount Tire. "By expanding access to financing through Synchrony's Car Care network, we're giving customers greater flexibility to manage their vehicle expenses."About Discount TireDiscount Tire is a leading independent retailer of tires, wheels, and windshield wipers. Founded in 1960 by Bruce T. Halle, the company serves customers at more than 1,200 stores in 39 states. The company does business as Discount Tire in most of the U.S. and as America's Tire in parts of California and Pennsylvania. Treadwell, Discount Tire's proprietary online tire recommendation tool, uses decades of data and individual driving habits to recommend the right tires for each driver's unique needs. For more information, visit www.discounttire.com.About SynchronySynchrony (NYSE: SYF) is a leading consumer financing company at the heart of American commerce and opportunity. From health to home, auto to retail, our Synchrony products have been serving the needs of people and businesses for nearly 100 years. We provide responsible access to credit and banking products to support healthier financial lives for tens of millions of people, enabling them to access the things that matter to them. Additionally, through our innovative products and experiences, we support the growth and operations of some of the country's most respected brands, as well as more than 400,000 small and midsize businesses and health and wellness providers that Americans rely on. Synchrony is proud to be ranked as the country's #2 Best Company to Work For® by Fortune magazine and Great Place to Work®. For more information, visit www.synchrony.com.Media Contacts: Lauren DevilbissSynchrony[email protected]Mary-Ward FreydbergDiscount Tire[email protected]SOURCE Synchrony WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

Related News