Chase Auto Finance has signed an exclusive private label agreement with Aston Martin The Americas to provide consumers with financing on loans and leases under the financial brand Aston Martin Financial Services, according to a company release. The bank will also provide commercial lending and treasury services for the OEM’s 35 U.S.-based dealerships.
The leasing element of Chase’s agreement replaced a 2015 partnership that made Ally Financial its preferred leasing source. The lease component of Aston Martin’s partnership with Ally ended April 30. “This change will only impact the lease product for Aston Martin dealers,” Brenda Rios, director of communications at Ally, told Auto Finance News. “Ally will continue to provide a full suite of industry-leading new and used retail financing, remarketing, insurance and training products to Aston Martin dealers,” she added.
The luxury British carmaker signed a subvention agreement with Chase Auto back in 2011. This new agreement will “provide full captive-like capabilities” to the OEM, Shannon O’Reilly, Chase Auto’s director of communications told AFN.
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