Ally Financial Inc. | Auto Finance News | Auto Finance News

Ally Expects Steady Originations in 2019, President Says

Ally Financial Inc. hit a “sweet spot” with its auto portfolio last year and is focusing on keeping that consistency throughout 2019, President of Auto Finance Doug Timmerman told Auto Finance News. The bank grew its auto portfolio 2.1% year over year to $35.4 billion at yearend 2018, as delinquencies increased and charge-offs declined, the company reported in fourth-quarter […]

Ally Boosts Used Financing to Offset Lower GM, Chrysler Penetration Rates in 3Q

Despite lower penetration rates financing General Motors and Chrysler vehicles, Ally Financial’s efforts to diversify originations kept volume consistent year over year, according to the lender’s third-quarter earnings. Ally’s penetration rates for General Motors and Chrysler were the lowest seen this year. GM’s penetration rate decreased to 5% compared with 7% during the same time […]

Private-Party Sales Platform Seeks Retail Financing Through Ally

Peer-to-peer vehicle marketplace Swap Motors is in talks with Ally Financial Inc. and a “couple other banks” to provide financing for car purchases on the platform, Alex Johnson, chief executive of Swap Motors, told Auto Finance News. The Chicago-based company wants to “offer everything a dealer is offering,” including warranty, GAP, and financing. While discussions […]

New Mitsubishi COO Highlights Sales Growth, Ally Partnership

Mitsubishi Motors North America posted its best May sales figures in 11 years, up 19.7% year over year, and Ally Financial Inc. is set to support those sales through 2020, Mark Chaffin, the OEM’s chief operating officer, told Auto Finance News. While the Ally partnership pre-dates Chaffin’s promotion last month, the new COO told AFN […]

Ally to Pay $20M Settling Claims it Overcharged Lease-to-Own Contracts

Ally Financial Inc. has agreed to settle for $19.7 million a 2014 class action lawsuit alleging the lender overcharged consumers who sought to purchase leased vehicles at the end of term, according to court documents filed in Florida federal court last week. Borrower Robert Schreiber sued Ally on behalf of the proposed class after alleging […]

Credit Unions Jockey for Marketshare

As used-car financing gains popularity and banks shy away from new-car loans, credit unions are jockeying for marketshare, partnering with service providers and teaming with other lenders to spark auto loan interest. “[Banks are] making a lot of moves that are making it easy for us,” Chris Whittaker, director of lending services at Oregon Community […]

New York Dealership Launches Subscription Program, Ally to Finance

Vehicle subscription service provider Mobiliti announced on Tuesday a new partnership with Island Auto Group that will provide a flexible transportation option for New Yorkers.   Launching in June with the intent to help city-dwellers navigate summer travel, the auto group will offer month-to-month vehicle payments that bundle insurance, maintenance, warranty coverage, and roadside assistance. […]
Page 1 of 2512345 1020...Last »