Strategy | Auto Finance News - Part 3

Rewriting the Golden Rule: A Fresh Approach to Tailored Marketing Strategies

From the May issue: Prominent technology companies hailing from the heart of Silicon Valley are changing the way consumers shop — and the ease and efficiency with which these companies sell their products is prompting the auto finance sector to up its game. Amazon pushes related products to consumers when they purchase a product on […]

Capital One Introduces Financing on CarGurus Platform

Capital One Auto Finance has inked a deal to offer financing preapprovals for vehicles on CarGurus' buying platform. The bank is the first lender to sign up with CarGurus, which has 5 million vehicles in its inventory. The companies are “ready to roll out nationwide this week,” CarGurus’ Chief Product Officer Tom Caputo told Auto […]

Toyota Financial Boosts Ride-Sharing Investments With Startup Faxi

Toyota Financial Services is encouraging carpooling with its latest investment. The captive bought a majority stake this week in London-based ride-sharing startup Faxi to engage in new mobility solutions and “introduce technology that will help reduce single-occupancy vehicles and the congestion and emissions that they cause,” Doug Gillies, managing director of Toyota Financial Services in […]

Used-Vehicle Sales Increase Offsets New-Car Volume Decline

Used-vehicle sales picked up the slack as new-car volume slipped in April, according to fresh data from Cox Automotive. Used-vehicle sales volume increased 3% year over year, while new-vehicle sales fell 1.7%, even with one more selling day than April 2018, according to Cox Automotive’s monthly Manheim Used Vehicle Value Index report. The April SAAR […]

Enterprise Pilots Subscription Service, Holds Off on National Rollout

Enterprise Holdings' new subscription service is being piloted in three states — for an undetermined length of time, spokeswoman Laura Bryant told Auto Finance News.  The company expects the program, called “Subscribe with Enterprise,” to be "fully vetted" before it eventually launches throughout the U.S., she said. The pilot program has been launched in Minnesota, […]

Aston Martin Taps Chase for Leasing, Replacing Ally

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 […]

BMO Harris Hones Sales Structure Amid Geographic Expansion

BMO Harris Bank is eyeing new opportunities – and states – to further grow its indirect auto business, Head of U.S. Indirect Lending Craig Harter told Auto Finance News. Last quarter, BMO Harris entered North Carolina and Maryland; the bank added Texas to its footprint in the second quarter of 2018. Additionally, the lender made […]
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