A Full-Spectrum Comeback
With an industry rebound in full swing, a number of companies are taking action to expand their finance offerings. GM Financial has started a lease program, which it hopes to offer to near-prime customers later this quarter, and ultimately to subprime customers, too. Capital One Auto Finance is exploring prime and near-prime offerings in an effort to better serve dealers looking for one-stop shopping.
A couple years ago, the industry was awash with full-spectrum providers, but the credit crunch stymied those plans and most retreated to their core businesses. Might this new wave of full-spectrum lending stick? What will financiers need to do differently this time around?
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