Santander Keeps Credit Risk Conservative in First FCA Lease ABS

Santander Consumer USA this week issued its first-ever lease securitization from the company’s Chrysler Capital division, and the credit risks look to be in line or slightly less than its peers in the captive space, according to an analysis by S&P Global.   The pool is backed by 34,000 lease contracts valued at $872 million, […]
  • William Hoffman
  • November 10, 2017
  • 1

GM Captive to Finance OEM’s 2018 Self-Driving Manhattan Fleet

LAS VEGAS — General Motors Financial Co. will be the commercial lender for General Motors Co.’s new fleet of autonomous Chevrolet Bolts, which will be introduced onto the streets of Manhattan in early 2018, Auto Finance News has learned. The exclusive news came from the captive’s President and Chief Executive Dan Berce during a fireside […]
  • William Hoffman
  • October 31, 2017
  • 0

5 Excellence Awards Presented at Summit

LAS VEGAS — Four companies and one industry executive were recognized for achievement in the auto finance sector at a special ceremony at the 2017 Auto Finance Summit on Thursday. Security Service Federal Credit Union and Ford Motor Credit Co. were presented Excellence Awards for their No. 1 ranks — for prime and nonprime/subprime, respectively […]
  • Emma Sandler
  • October 30, 2017
  • 0

GM Financial Supports Growth With New Texas Service Center

General Motors Financial Co. is hosting a grand opening event on Thursday for its San Antonio service center, which will house up to 700 new jobs in the region, the company announced in a press release. The 100,000-square-foot facility has already added 200 jobs in the area, joining the other 8,000 employees GMF employs across […]
  • William Hoffman
  • October 17, 2017
  • 1

General Motors to Implement All-In-One F&I Platform

General Motors’ Protection coverage group, Chevrolet-Buick-GMC and Cadillac (CBGC) Protection, is currently rolling out a new F&I platform across its dealer network that will soon merge its e-contracting solution at GM Financial into one unified system, reducing dealership wait times, and educating consumers through interactive video elements. MaximTrak, which was acquired by RouteOne Holdings in […]
  • William Hoffman
  • August 21, 2017
  • 0

GM Financial to Raise Capital Through Investor Notes Program

General Motors Financial Co. launched a program to raise money through medium-term investor notes, the captive announced on Friday. Investor notes are used to raise capital at companies, in this case, through retail investors in exchange for the interest gained on the loan. Investors are essentially making a bet on the company and its ability […]
  • William Hoffman
  • August 14, 2017
  • 0

Ally’s Originations Decline, but Expects Stabilization in 2018

  Ally Financial Inc.’s total originations dipped 8.6% in the second quarter, but the lender is expecting some stabilization in early 2018 as the company continues to phase out leases from General Motors Co., according to its second quarter earnings call. Although lease originations rose to $1.1 billion compared with $900 million during the same […]
  • William Hoffman
  • July 27, 2017
  • 1

GM Financial Sustains Loan Growth With 62% Origination Boost

General Motors Financial Co. continued its steep retail loan growth with a 62% yearly rise in originations, the company reported in its second quarter earnings for the period ending in June. The captive originated $5.3 billion in retail loan contracts in the quarter, up from $3.2 billion during the prior-year period. This comes on the […]
  • William Hoffman
  • July 25, 2017
  • 2

Competition Revs Up in Floorplan Lending, as Sales Show Signs of Tempering

The partnership between a dealer and a floorplan lender is “very relationship-based, and very emotional,” said Brian Fallon, senior vice president of commercial lending services at General Motors Financial Co. First-, second-, and even third-generation dealers could stay with a floorplan lender for 20 to 30 or more years,” he added. “Obviously, we’ve had cycles […]
  • Larissa Padden
  • June 29, 2017
  • 0

LTVs Decline in 1Q as Subprime Lenders Aim to Steady Loss Levels

DALLAS — Six subprime auto finance companies in the secondary market have reduced loan-to-value ratios in their underwriting by 100 basis points or more in the first quarter, said Amy Martin, lead analyst for auto ABS at S&P Global, during a presentation at the NAF Association’s Nonprime Auto Financing Conference. Those six include American Credit […]
  • William Hoffman
  • June 16, 2017
  • 0
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