Innovation & Mobility | Auto Finance News - Part 4

Hyundai Capital Launches AI-Powered Chatbot

Hyundai Capital America has adopted artificial intelligence into its Kia Motor Finance brand with the launch of “Kian,” an AI-powered chatbot that assists consumers with finance-specific questions, Martin Schmitt, chief executive at CarLabs, told AFN. The bot started “living” on Kia Motor Finance's website last month, Schmitt said, replacing the search bar and serving as […]

Ford’s $500M Backing of Electric OEM Opens Door for Captive Financing

Ford Motor Co.'s plan to invest $500 million in electric vehicle manufacturer Rivian could create an opportunity for Ford Motor Credit, said Cox Automotive Senior Economist Charlie Chesbrough. “It seems possible that Ford Motor Credit could provide financing for either Rivian fleet or Ford fleet services, Chesbrough said. "Given the ever-changing mobility world, there are […]

Rental Car Firm Enterprise Plans to Launch Subscription Service in May

Enterprise Holdings, parent of Enterprise Rent-A-Car, plans to launch a vehicle-subscription service within the next month, according to a company press release. The pilot program will start in three states and allow customers — for a monthly fee — to select from six vehicle classes, including full-size and premium sedans, small and mid-sized SUVs, and […]

Tesla Plans to Use Model 3 Lease Program to Stock Ride-Hailing Fleet

Tesla has launched a leasing offer for its $35,000 Model 3 electric sedan — without the standard option that allows consumers to purchase their vehicles at the end of the term. “With full autonomy coming in the future via an over-the-air software update, we plan to use those vehicles in the Tesla ride-hailing network," the […]

Refinance Startup to Stretch Footprint, Double Lender Partners by Yearend

MotoRefi, an automotive refinance startup, is eyeing geographic and partnership growth after securing $4.7 million in seed funding last month, Chief Executive Kevin Bennett told Auto Finance News. Founded in 2017, MotoRefi is a technology platform that connects consumers looking to refinance vehicles with a handful of national and regional lenders that personalize offerings online […]

Uber’s Self-Driving Arm Gets $1 Billion Investment Ahead of IPO

Uber Technologies Inc. secured a $1 billion investment from three Japanese companies, ahead of an initial public offering expected next month. Denso Corp., Toyota Motor Corp. and SoftBank Group Corp.’s Vision Fund bought stakes in the self-driving unit, valuing the arm at $7.25 billion, according to a statement. The deal will help Uber, which tallied […]
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