Aston Martin the Americas this month tapped Chase Auto to power its finance arm, Aston Martin Financial Services. Aston Martin is the fifth automaker to join Chase's roster of private-label, captivelike partnerships.
Through the agreement, effective May 1, Chase will finance loans and leases through Aston Martin Financial Services and will support commercial lending and treasury services for the 35 Aston Martin dealerships in the U.S., according to a statement. Aston Martin sold an estimated 388 vehicles in the U.S. through April, according to the Automotive News Data Center. Last year, Aston Martin sold an estimated 1,140 vehicles in the U.S.
Chase's private-label agreements with automakers began in 2001 with Subaru and have grown to include Mazda in 2008, Jaguar Land Rover in 2009 and Maserati in 2016. Chase also has such an agreement with Enterprise Car Sales. The partnerships are indirect lending models, which means the dealership arranges the loan or lease on behalf of the customer.