Captive Finance Companies

GM tells Ally that GM Financial will get all of Chevy's subsidized leases

6:30 pm U.S. ET | Feb. 27, 2015
General Motors has notified Ally Financial that it will steer all of its lease subsidies for the Chevrolet brand to captive finance company GM Financial, instead of sharing them among Ally, GM Financial, and to a lesser extent, U.S. Bank.... Read More »

 

JAMIE LaREAU

Volvo captive finance's plan to help spur sales of Volvo's XC90

3:30 pm U.S. ET | Feb. 19, 2015
The redesigned 2016 Volvo XC90 is “the big” launch facing Volvo's captive finance company. Just ask Dan Romagnoli. He is the man responsible for making sure dealers get enough financing support to sell the heck out of the crossover when it goes on sale in May.... Read More »

 

JIM HENRY

GM Financial-Chevy lease exclusivity seems likely

11:15 am U.S. ET | Feb. 18, 2015
There wasn't much doubt, but General Motors disclosed for the first time in an SEC filing that it is considering plans to throw all Chevrolet lease incentives to GM Financial instead of sharing them among GM Financial, Ally Financial and U.S. Bank.... Read More »

 

GM Financial, Santander rev move to prime

11:30 am U.S. ET | Feb. 11, 2015
GM Financial and Santander Consumer USA, two traditional subprime specialists, are accelerating strategic moves into prime-risk loans and leases in 2015. GM Financial also more than tripled its share of U.S. lease originations for parent GM, to 47 percent of GM leases in the fourth quarter from 15 percent a year earlier.... Read More »

 

GM ramps up leasing business with captive financial unit

3:16 pm U.S. ET | Feb. 4, 2015
GM Financial more than tripled its share of parent General Motors' US lease originations in the fourth quarter. And it's poised to gain even more as it becomes the exclusive source of leases for the Buick-GMC and Cadillac brands, beginning with Buick-GMC this week.... Read More »

 

U.S. prosecutors, pursuing more '08 crisis cases, eye auto loans

12:12 pm U.S. ET | Feb. 4, 2015
The U.S. Department of Justice says it is still pursuing cases tied to the height of the financial crisis in 2008 and using lessons learned from those probes to examine new areas like subprime car loans. Federal lawyers are using the investigative techniques and contacts from mortgage securities probes to confront the next wave of potential financial fraud.... Read More »

 

GM Financial's new system will boost credit apps

11:00 am U.S. ET | Feb. 4, 2015
GM Financial is developing technology that will enable it to accept consumer credit applications on General Motors' websites and the websites of GM dealers. The goal is to help consumers search for vehicles within the price range for which they have been preapproved while making the credit approval process easier and faster.... Read More »

 

GM's lease incentive move to captive unit surprised, angered Ally's chief

11:40 am U.S. ET | Jan. 29, 2015
General Motors' recent move to steer 100 percent of its Buick, Cadillac and GMC lease incentives in the US to captive finance company GM Financial took Ally Financial by surprise, Ally CEO Michael Carpenter said during a conference call today.... Read More »

 

Q&A

Ally Premier Protection enables 'one product, one system and one brand'

11:00 am U.S. ET | Jan. 28, 2015
Ally Financial is phasing in Ally Premier Protection brand for service contracts and other F&I products, plus an updated technology platform to help market and administer them. At the same time, it's phasing out its use of the GM Protection Plan brand.... Read More »

 

GM and Ally compete to grow F&I

12:34 pm U.S. ET | Jan. 24, 2015
GM is on a hiring binge to build a direct sales force for its branded F&I products as the company seeks a foothold in the competitive space. GM rolled out branded F&I products nationally last year while taking over the business from captive-finance arm GM Financial.... Read More »

 

Q&A

GM Financial is up to the full-service task

6:53 pm U.S. ET | Jan. 23, 2015
GM Financial will become the exclusive provider of subsidized leases for Buick-GMC dealerships on Feb. 3. Cadillac and Chevrolet will follow. Kyle Birch, GM Financial COO, talked with Staff Reporter Mike Colias about how it has grown leasing capabilities on its way to becoming GM's full-line captive financing arm.... Read More »

 

GM takes charge of its branded F&I products

2:00 pm U.S. ET | Jan. 23, 2015
General Motors is bringing the sales of its branded F&I products in-house, taking over responsibility from captive finance company GM Financial, in a move designed to give those sales a shot in the arm and get those products on more GM dealerships' radar.... Read More »

 

Dealers, captives battle in statehouses

2:00 pm U.S. ET | Jan. 23, 2015
A battle is heating up in several state capitals as dealer associations face off against carmakers and their captive finance companies over proposed state laws governing the sale of F&I products.... Read More »

 

Nicolosi returns to Volvo Financial with broader duties

9:00 am U.S. ET | Jan. 21, 2015
Tony Nicolosi has been named president of Volvo Cars Financial Services of the Americas, 16 months after he became CEO of Volvo Cars of North America. The move is part of a management shakeup at the struggling brand, which also includes global corporate product strategy chief Lex Kerssemakers being named to the post of CEO for North America.... Read More »

 

Welcome growth for GM Financial

12:01 am U.S. ET | Jan. 19, 2015
General Motors' move to steer all subvented leases for Cadillac and Buick-GMC through GM Financial as part of the captive's ongoing buildup was welcome news for dealers, Cadillac dealer Howard Drake says.... Read More »

 

GM to use GM Financial for subsidized leases, drop Ally, U.S. Bank

3:19 pm U.S. ET | Jan. 9, 2015
General Motors plans to make GM Financial its preferred lender for subsidized leases, a big step toward elevating its in-house lending arm into a full-line captive finance provider to enhance GM dealers' ability to sell vehicles.... Read More »

 

Ally sells last of its overseas operations to GM Financial

11:30 am U.S. ET | Jan. 7, 2015
Ally Financial has stripped down to its core businesses: U.S. auto finance, F&I products such as extended service contracts, commercial loans to dealers, and online retail banking. The company jettisoned the last of its noncore operations when it completed the sale of its auto financing joint-venture unit in China to General Motors' captive finance company, GM Financial, for $1 billion.... Read More »

 

Ally's six-year bailout ends after U.S. sells $1.28 billion stake

7:48 pm U.S. ET | Dec. 18, 2014
The Treasury disposed of its remaining $1.28 billion stake in auto lender Ally Financial, resolving the last big bailout from an emergency government program to halt the 2008 financial crisis. Ally said the government ultimately gained $2.4 billion from its investment.... Read More »

 

Lender group says CFPB rule would burden smaller players

8:38 pm U.S. ET | Dec. 8, 2014
In seeking to extend its jurisdiction over “nonbank” auto lenders -- including captive finance companies and independent finance companies -- the Consumer Financial Protection Bureau is reaching for lenders that are too small, the American Financial Services Association said Monday.... Read More »

 

GM Financial CEO sees big growth ahead

12:01 am U.S. ET | Dec. 1, 2014
It has taken four years, but GM Financial is finally offering a full range of products to General Motors dealers, prompting the captive lender's CEO to predict a "tremendous amount of growth" in 2015. says CEO Dan Berce.... Read More »

 

GM pulls branded F&I sales from GM Financial

12:01 am U.S. ET | Nov. 3, 2014
General Motors is bringing sales of its branded finance and insurance products in-house, taking over from captive finance company GM Financial, in a move designed to get those products on more GM dealerships' radar.... Read More »

 

GM takes charge of its branded F&I products

6:53 am U.S. ET | Oct. 29, 2014
General Motors is bringing the sales of its branded F&I products in-house, taking over responsibility from captive finance company GM Financial, in a move designed to give those sales a shot in the arm and get those products on more GM dealerships' radar.... Read More »

 

Captives see big rise in leases

7:10 am U.S. ET | Oct. 29, 2014
Leases accounted for almost half of GM Financial originations in the United States and Canada in the quarter. That's a big increase for the GM captive finance company and part of an industry trend that carried leasing to new highs. Last week, Ford Motor Credit Co. also reported an increase in leasing during third quarter.... Read More »

 

GM Financial faces government, state probes over subprime loans, securities

5:49 pm U.S. ET | Oct. 23, 2014
GM Financial disclosed Thursday it is being investigated by “state attorneys general and other governmental offices” in connection with subprime auto loans and the sale of subprime auto loans in the form of asset-backed securities.... Read More »

 

GM Financial profits down despite higher volumes

3:10 pm U.S. ET | Oct. 23, 2014
For the second quarter in a row, net income fell slightly for GM Financial despite sharply higher loan and lease originations. The captive finance company today reported net income of $158 million in the third quarter of 2014, down 1.9 percent from the same quarter last year. Pretax earnings were down 13 percent to $208 million.... Read More »

 

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