Captive Finance Companies

Chrysler Capital offers perks for dealers' loyalty

12:01 am U.S. ET | April 14, 2014
Chrysler Capital has launched a dealer-loyalty program that offers participants longer car loans and lower rates but requires them to get a quote from Chrysler Capital for every customer loan.... Read More »

 

GM Financial, Ally swap corporate profiles

12:01 am U.S. ET | April 2, 2014
A new and much bigger GM Financial is emerging this year -- a global, mostly prime-risk auto lender that looks a lot like the old GMAC captive finance company.... Read More »

 

Ally Financial IPO could generate $2.7 billion for U.S. Treasury

9:00 am U.S. ET | March 27, 2014
Ally Financial, the former GMAC auto lender rescued by the federal government during the 2008 financial crisis, is helping the Treasury Department divest its stake by seeking as much as $2.7 billion in an initial public offering.... Read More »

 

Dealers, captives battle in statehouses

12:01 am U.S. ET | March 19, 2014
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 »

 

Ally names Jeffrey Brown to replace Muir as CEO of dealer financial unit

5:01 pm U.S. ET | March 13, 2014
Ally Financial has appointed Jeffrey Brown as CEO of Ally Dealer Financial Services, succeeding the veteran Bill Muir, who will retire later this year.... Read More »

 

CFPB fills auto finance liaison job

4:04 pm U.S. ET | March 13, 2014
The Consumer Financial Protection Bureau has appointed attorney Jeffrey Langer to the role of liaison between the CFPB and the auto finance industry, succeeding Rick Hackett. Langer’s appointment, announced Wednesday, was effective immediately.... Read More »

 

Dealers, captives battle in statehouses

12:01 am U.S. ET | March 10, 2014
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 »

 

GM Financial, Ally swap corporate profiles

12:01 am U.S. ET | March 10, 2014
A new and much bigger GM Financial is emerging this year -- a global, mostly prime-risk auto lender that looks a lot like the old GMAC captive finance company.... Read More »

 

JIM HENRY

The disconnect lingers between auto finance and the CFPB

12:01 am U.S. ET | Feb. 26, 2014
The auto finance industry and the Consumer Financial Protection Bureau have a fundamental disconnect. The auto finance industry sees itself as unique while the CFPB sees it as just one more consumer finance sector, essentially not that different from mortgages, credit cards or student loans.... Read More »

 

Fiat seeks to turn financing unit into a bank, report says

Feb. 16, 2014 16:54 CET
Fiat has asked the Bank of Italy's permission to turn its financing unit into a bank. The move would make Fiat more competitive against rivals such as VW and PSA, which already have their own internal banks.... Read More »

 

Ally says Q4 net income falls, GM relationship extended

12:35 pm U.S. ET | Feb. 6, 2014
Ally Financial said today it has posted fourth-quarter net income of $104 million and lower pretax income for its auto finance business. The lender also said its preferred-lender relationship with General Motors, set to expire Dec. 31, was extended while the companies negotiate a new pact.... Read More »

 

JAMES B. TREECE

Flawed study has lessons for F&I managers

12:01 am U.S. ET | Feb. 5, 2014
There’s a lot not to like about a new study on discrimination in car loans. But there also are a few nuggets in it that indicate problems in the F&I office.
The study is titled "Non-Negotiable: Negotiation Doesn’t Help African Americans and Latinos on Dealer-Financed Car Loans" and was conducted by the nonprofit Center for Responsible Lending in Durham, N.C.... Read More »

 

Westcott: Keep defending reserve

5:51 pm U.S. ET | Jan. 25, 2014
NADA must continue to defend in-dealership financing or the car-buying public will suffer, outgoing NADA Chairman David Westcott told dealers today.... Read More »

 

JAMES B. TREECE

What happens in 2016 if interest rates rise?

12:01 am U.S. ET | Jan. 24, 2014
2014 will be a good year for the industry. But what about 2016? Some scenarios to consider as interest rates rise.... Read More »

 

JIM HENRY

Ally, more independent, can better focus on dealers

12:01 am U.S. ET | Dec. 26, 2013
It's time to stop thinking of Ally Financial as GM's captive finance company and get used to the fact that it's an independent bank.... Read More »

 

Ally wins U.S. approval to alter holding structure to keep insurance, vehicle-auction site

11:49 am U.S. ET | Dec. 23, 2013
Ally Financial won regulatory approval to change its holding-company status, allowing the firm to keep an insurance business and a vehicle-auction Web site. Ally, majority owned by the U.S. government, warned in July that regulators might not allow the shift as an exemption ends this month, potentially imposing a “material adverse” effect on earnings.... Read More »

 

TD Auto pares dealership network

9:11 am U.S. ET | Dec. 11, 2013
TD Auto Finance says it will trim its U.S. dealership network, essentially dropping dealerships with the least amount of volume.... Read More »

 

Lean, healthy Ally Financial moves toward stock offering

12:01 am U.S. ET | Dec. 9, 2013
It has been a long journey for Ally Financial and Michael Carpenter. Carpenter, who has been CEO of the Detroit company since November 2009, finally has Ally positioned to buy out the U.S. Treasury's stake in the lender.... Read More »

 

Kia, Lincoln captives top satisfaction survey

12:01 am U.S. ET | Nov. 27, 2013
Kia Motors Finance was the top auto lender among mass-market brands and Lincoln Automotive Financial Services the top lender among luxury brands in J.D. Power's 2013 U.S. Consumer Financing Satisfaction Study.... Read More »

 

Auto loan underwriting poised to loosen in 2014, Moody’s says

12:01 am U.S. ET | Nov. 27, 2013
Underwriting standards on auto loans will slip in 2014 as increased competition pushes lenders to take more risk, according to Moody’s Investors Service.... Read More »

 

Kia, Lincoln finance units score top rankings in J.D. Power survey

2:51 pm U.S. ET | Nov. 25, 2013
Kia Motors Finance was the top auto lender among mass-market brands and Lincoln Automotive Financial Services the top lender among luxury brands in JD Power's 2013 U.S. Consumer Financing Satisfaction Study released today.... Read More »

 

In the battle for lease business, captives are kings

12:01 am U.S. ET | Nov. 13, 2013
The captive finance companies have a lock on leasing. Eight of the top 10 leasing companies are captives, data from Experian Automotive show. The other two are Ally Financial Inc. and Chase Auto Finance, which offer leases for automaker partners.... Read More »

 

CFPB chief concedes need for balance in auto-loan oversight

4:24 pm U.S. ET | Nov. 12, 2013
Richard Cordray, director of the Consumer Financial Protection Bureau, said he wants more “openness and transparency” for the agency's oversight of auto lending, but added that the agency still has strong concerns about how dealerships arrange loans.... Read More »

 

In the battle for lease business, captives are kings

12:01 am U.S. ET | Nov. 11, 2013
The captive finance companies have a lock on leasing. Eight of the top 10 leasing companies are captives, data from Experian Automotive show. The other two are Ally Financial Inc. and Chase Auto Finance, which offer leases for automaker partners.... Read More »

 

Industry mixed on long-term loans

11:04 am U.S. ET | Oct. 30, 2013
As the auto finance industry moves toward longer loans, reactions among lenders and dealerships are mixed. Some see long loans as an impediment to business; others don't. Mitsubishi Motors Credit of America said recently that captive finance companies probably should pass up the longest loans, even if it costs them business.... Read More »

 

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