Post Tagged with: "Ford Credit"

Lenders Offer Financial Relief to Borrowers After Irma

Lenders Offer Financial Relief to Borrowers After Irma

September 14, 2017 at 11:30 am 0 comments

As those affected by Hurricane Irma begin recovery efforts, auto lenders are offering financial assistance and relief efforts. Early estimates of Irma’s total economic destruction before it made landfall pinned the cost at $100 billion, AccuWeather President Joel Myers said in a statement last Sunday. It’s still unclear how muchRead More

Auto ABS Issuers Pull Pools Back From Harvey, Irma Impacted Areas

Auto ABS Issuers Pull Pools Back From Harvey, Irma Impacted Areas

September 12, 2017 at 12:12 pm 1 comment

During one of the busiest times for the secondary market, auto lenders are excluding vehicles affected by Hurricane Harvey from ABS issuances over fears of negative-equity deals, according to presale reports.   Exeter Finance Corp., Fifth Third Bank Dealer Financial Services, Ford Motor Credit Co., and Santander Consumer USA haveRead More

Auto Lenders Provide Relief Amid Hurricane Harvey Devastation

Auto Lenders Provide Relief Amid Hurricane Harvey Devastation

September 6, 2017 at 11:00 am 2 comments

The full economic impact of Hurricane Harvey on the auto industry has yet to be determined, but in the short term it’s clear that many consumers are going to need financial assistance and a number of lenders have stepped up to provide donations and consumer relief. Cox Automotive estimates betweenRead More

Reinventing the Aftermarket: Will All-Inclusive Subscription Services Be the Next Big Thing?

Reinventing the Aftermarket: Will All-Inclusive Subscription Services Be the Next Big Thing?

September 1, 2017 at 10:30 am 1 comment

While “all-inclusive” is a pretty well-known concept in the resort world — many vacation spots boast carefree, wallet-less getaways, where everything is included in one price — the term is almost foreign in auto finance. But that is poised to change, as several lenders adapt the “all-inclusive” concept into theirRead More

5 Auto Finance Offers for Labor Day Weekend

5 Auto Finance Offers for Labor Day Weekend

September 1, 2017 at 10:00 am 0 comments

As summer draws to a close, many customers look forward to snagging a good end-of-summer car deal on Labor Day weekend. Auto lenders are ramping up incentives to help bolster car sales and clear out carryover inventory. As the car model year changes, the 2018 models are coming out whileRead More

AutoFi Raises $10 Million Series A to Grow Beyond Ford Credit

AutoFi Raises $10 Million Series A to Grow Beyond Ford Credit

August 24, 2017 at 12:05 pm 1 comment

AutoFi raised $10 million in Series A funding, which it plans to use to “accelerate” the growth of its lender, manufacturer, and dealer partners, the fintech company announced today. The latest funding round includes existing investors Crosslink Capital, Ford Motor Credit Co., and Lerer Hippeau Ventures. AutoFi has also entered intoRead More

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Ford Credit Lease Returns Leap 29% as Originations Dip in 2Q

July 26, 2017 at 10:30 am 1 comment

Ford Motor Credit Co. reported a 29% year over year uptick in lease return volume to 80,000 vehicles in the second quarter — the highest lease return volume on record dating back to at least 2010 reports, according to its earnings released today. The captive attributes the surge in lease returns toRead More

Ford Credit Canada Preps Floorplan Securitization

Ford Credit Canada Preps Floorplan Securitization

July 17, 2017 at 12:27 pm 1 comment

Ford Credit Canada has issued its first floorplan securitization since 2013, and ratings agency DBRS expects the new issuance will perform similarly well despite a slowing auto market. The $460 million securitization is backed by floorplan receivables on an inventory of Canadian vehicles at Ford dealerships. DBRS notes the issuance’s strengthRead More

5 OEMs Offer Low-Rate Incentives for Independence Day

5 OEMs Offer Low-Rate Incentives for Independence Day

July 3, 2017 at 12:37 pm 1 comment

With the Fourth of July around the corner, many captives are ramping up finance incentives — including low-rate APR and other special offers — to bolster sales.   Auto Finance News took a look at the current offers in the market. Here are five financing promotions heating up the market:Read More

Ford Offers Monthly Subscription Service

Ford Offers Monthly Subscription Service

June 28, 2017 at 10:00 am 1 comment

Ford Motor Credit Co. is now offering a month-to-month subscription service through Canvas, the short-term vehicle leasing startup formerly known as Breeze that Ford Motors Co. acquired in December 2016, Ford Credit Communications Manager Margaret Mellott told Auto Finance News. San Francisco-based Canvas started offering short-term leasing options to BayRead More

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