Ally | Auto Finance News | Auto Finance News

Ally to lead innovation workshop at AFS

Every company wants to be on the forefront of innovation, but practically, it can be hard to pinpoint exactly what that looks like. Kirsten Elsworth, senior director of business systems, data and analytics at Ally Insurance, will address that issue in the Innovation Workshop at the Auto Finance Summit 2019. During the workshop session, Elsworth […]

Ally sets record with used-car volume

Used-car loan originations hit $5.24 billion at Ally Financial in the second quarter, the highest level ever for the lender. Ally initially surpassed the $5-billion mark for used-car volume in the first quarter, notching $5.15 billion in originations. Used volume has been on an upward trajectory at Ally since the third quarter of 2017. “We […]

Slowing Inventory Turnover Reduces Floorplan ABS Payment Rates

As vehicles idle on dealers’ lots, auto lenders face slower repayment of their floorplan loans. Nissan Motor Acceptance Corp., for one, has been in breach of a floorplan trigger since February, when its three-month payment rate dropped below 35%. As such, NMAC had to increase credit enhancement levels in its floorplan trust. Ally Financial, Ford […]

Auto ABS Volume Closes In on $60B

Year-to-date auto securitization volume hit $57.8 billion at the end of April, with prime loan issuance accounting for the lion’s share of transactions, according to research released today by Deutsche Bank. Prime loan securitization volume totaled $23.7 billion, and subprime volume reached $12.8 billion. The remaining volume was comprised of retail lease ($9.8 billion), fleet […]

Investments in Public Auto Finance Companies Top $9 Billion

Institutional investors had combined shares valued at $9.4 billion in the handful of publicly traded auto finance companies, as of midyear, according to an Auto Finance News analysis of Securities and Exchange Commission filings. The SEC filings record the quarterly U.S. equity holdings of institutional investment managers with at least $100 million in equity assets […]

Carvana Originations More Than Double Amid Geographic Expansion

Carvana’s originations of finance receivables increased to $525.8 million during the first six months of 2018, compared with $223.8 million during the same time last year, according to the company’s second-quarter earnings released this week. That boost in financing tracks with the online dealership’s higher retail sales expectations this year. Sales climbed 111% during the second […]

Ally and New Car Subscription Service Mobiliti Team Up

Mobiliti, a new monthly car subscription service that works with dealerships, is working with Ally to offer comprehensive financing options when the company officially launches next month in Austin, Chance Richie, founder and chief executive of Mobiliti, told Auto Finance News. Mobiliti works with dealers to sell vehicles on a subscription plan, and puts all dealers under […]