All Posts | Auto Finance News - Part 4

Aston Martin is shopping for expensive junk

The maker of Aston Martin sports cars is considering raising cash from an expensive corner of the bond market. The hope must be that this is just one part of a more radical attempt to strengthen its finances — and not the last resort. Aston Martin Lagonda Global Holdings Plc is looking at issuing an unsecured […]

EXCLUSIVE: Ford Credit sells Canvas portfolio to Fair 

Used-car leasing app Fair has finalized a deal to acquire the assets of Ford Motor Credit’s subscription service Canvas, the company announced today. The Canvas acquisition increases Fair's fleet by 1,000 for active consumer subscribers and 600 that can be used for rideshare or consumer demand — adding to the 45,000 active users Fair currently […]

Daimler Mobility expands ePayment services

Daimler Mobility is integrating its ePayment service, Mercedes pay, into Mercedes-Benz vehicles, the company announced at the International Automobile Exhibition in Frankfurt. The service will allow Mercedes-Benz owners to pay for parking, gas and Mercedes-provided services through the multimedia system MBUX. Mercedes-Benz owners will be able to pay for or renew services such as navigation, […]

US Bank’s John Hyatt joins AFS for fireside chat

Auto Finance News is excited to host John Hyatt, president of dealer services at U.S. Bank, at this year’s Auto Finance Summit to address key market dynamics in a fireside chat and take questions from the audience on Tuesday, Oct. 28, at 1:45 p.m. PT. The 19th annual Auto Finance Summit will take place Oct. […]

Fleet management startup scores $5m credit line from MBFS

Mercedes-Benz Financial Services has granted a $5 million credit line to VMAC Holdings, a fleet management firm that provides inventory for rideshare companies.  The new line of credit will be used for VMAC’s incoming projects, including expanding its mobility-as-a-service business into “various municipalities” across the U.S., Co-Owner and Chief Operating Officer Grant Stark, told Auto […]

CFPB innovation network success hinges on broader AG acceptance, lawyer says

The freshly launched financial innovation network designed to enhance coordination among federal and state regulators likely won’t “materially change anything”  until the sandbox-opposing state attorneys general sign on, said McGlinchey Stafford Attorney Robert Savoie. The Consumer Financial Protection Bureau (CFPB) announced Tuesday that it is working with seven state regulators to form the American Consumer Financial Innovation […]

Millennials, not taxes, get blame for India’s falling auto sales

Millennials’ preference for ride-hailing services such as Uber and Ola over owning cars, and not high taxes, is among reasons behind India’s slumping vehicle sales. That’s the argument advanced by Finance Minister Nirmala Sitharaman Tuesday when she spoke about steps the government has been taking to revive demand and bolster economic growth from a six-year […]

Thinning margins spur Ford Credit downgrade

Ford Motor Co.'s weakened credit profile will likely have negative implications for its access to funding and financing volumes after a downgrade by Moody’s Investors Service this week. The downgrade moved Ford’s rating to non-investment speculative-grade status.  Moody’s said an upgrade for Ford is “unlikely in the near term,” as margins are expected to remain […]
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