World Omni Joins the Family

When Southeast Toyota dealers began to experience difficulties obtaining credit and competitive interest rates from traditional financial institutions, Jim Moran recognized the need to support his customers. Using $25 million, he established World Omni Financial Corp. in January 1981 to assist dealers with securing consistent credit with lower interest for their vehicle floorplanning, and it became the first captive auto finance company in the United States for an import automaker. In less than a year, World Omni began to purchase both new and used retail credit from dealers, allowing them to offer financing to their Toyota customers. The first World Omni installment contract funded a 1982 Toyota Celica GT purchased at Dave Zinn Toyota in Miami, Fla.