Post Tagged with: "Ally Financial"

Lenders Tweak GAP Refunds Amid Scrutiny

Lenders Tweak GAP Refunds Amid Scrutiny

September 15, 2017 at 10:30 am 1 comment

Auto finance companies need to be aware of guaranteed asset protection (GAP) product refund procedures in the wake of recent scrutiny, said Kenneth Rojc, partner at Nisen and Elliott LLC, adding that nearly every one of his clients is reviewing its policies. Last month, Ally Financial Inc. tweaked its GAPRead More

Aston Martin Seeks U.S. Boost Through Ally Financial, to Offset Brexit

Aston Martin Seeks U.S. Boost Through Ally Financial, to Offset Brexit

September 13, 2017 at 11:00 am 0 comments

Luxury British carmaker Aston Martin is pushing further into the U.S. leasing market through a marketing campaign, as it seeks to mitigate an anticipated sales decline in the European Union following the Brexit decision, Matthew Clarke, communications manager for the Americas, told Auto Finance News. Aston Martin Financial Services handlesRead More

Ally greets visitors at its booth for the 2017 National Automotive Dealers Association Convention and Expo. (Photo by William Hoffman)

Ally to Shore Up Digital F&I Experience Through TRED Partnership

August 2, 2017 at 12:41 pm 0 comments

Ally Financial Inc. is focusing on delivering “superior service” and its value proposition to digital dealers through TRED, following the lender’s recent partnership with the online-used car marketplace, Doug Timmerman, president of Ally Insurance, told Auto Finance News. “We are focused on how do we really best deliver on ourRead More


Ally’s Originations Decline, but Expects Stabilization in 2018

July 27, 2017 at 12:41 pm 1 comment

  Ally Financial Inc.’s total originations dipped 8.6% in the second quarter, but the lender is expecting some stabilization in early 2018 as the company continues to phase out leases from General Motors Co., according to its second quarter earnings call. Although lease originations rose to $1.1 billion compared withRead More

Are You a Predatory Auto Lender? [SPONSORED]

Are You a Predatory Auto Lender? [SPONSORED]

June 23, 2017 at 9:00 am 0 comments

No! Of course not! Auto lenders simply review the information provided to make funding decisions based on credit score, loan-to-value, and debt-to-income ratios. But, what happens when the information provided isn’t correct? What if the income or vehicle value is higher than they should be? As a lender, you know that youRead More

Carvana Steers Clear of Forming Captive, Opts to Offload Finance Risk

Carvana Steers Clear of Forming Captive, Opts to Offload Finance Risk

June 19, 2017 at 10:00 am 0 comments

Online car dealership Carvana has no immediate plans to form a captive like its main competitor CarMax, but it does hope to improve its existing third-party finance program, Chief Executive Ernie Garcia said during the company’s first-quarter earnings call last week. “I think, somewhere we think we can do betterRead More

Ally Offers Financing on Startup’s Private-Party Platform

Ally Offers Financing on Startup’s Private-Party Platform

June 2, 2017 at 10:24 am 2 comments

Ally Financial Inc. began funding private-party auto loans and offering vehicle service contracts through TRED — an online used-car marketplace — the companies announced in May. The startup is now hoping consumers that apply for financing will be drawn in by convenience, as opposed to lower rates offered by competitors,Read More

Is That the Smell of Compounding Risk?

Is That the Smell of Compounding Risk?

May 2, 2017 at 10:30 am 0 comments

If you only looked at GM Financial’s origination volume last week, you would think auto finance was continuing on its boom-time ways. GMF grew its North American originations 19% last quarter to around $11 billion, according to company earnings released last Friday. Sing Hallelujah! Well, don’t lose your voice yet. ThereRead More

Ally's Detroit Center (Via Ally Press Room)

Ally Financial Originates $8.9B Amid ‘Cautious’ Industry Tone, CFO Says

April 27, 2017 at 12:16 pm 0 comments

Despite a number of auto finance institutions reporting pullbacks in originations this week, Ally Financial Inc. kept originations relatively flat at $8.9 billion in the first quarter compared with the same period a year ago, the company reported this morning. “There is a more cautious tone across the industry, you’veRead More

Via Ally Financial

Ally Outlines Vision for Digital Lending With Clearlane Launch

April 3, 2017 at 10:01 am 1 comment

Ally Financial Inc. today launched the new branding for its multi-lender, digital-financing auto marketplace, called Clearlane, the company announced in a press release. Clearlane is the new name for the platform formerly known as BlueYield, which Ally acquired in August. Upon launch, Clearlane will still serve largely the same core functionsRead More

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