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Dealers Negotiate Lease Prices in New Lexus Program

Toyota Financial Services is piloting its Lexus Complete Lease program with 80 dealerships in seven states, though the timing for a national rollout is still undecided, Joanna Dean, general manager for finance products at TFS, told Auto Finance News. “[TFS] will continuously evaluate the success of the program and decide on the expansion into additional […]

Tesla Issues Second-Ever Lease Securitization Despite Previous Downgrade

Tesla Inc. is slated to issue its second-ever U.S. auto securitization on Dec. 19, according to presale reports. The $837 million transaction is 53% larger than Tesla’s inaugural securitization, which was issued in February. That securitization was subsequently downgraded because of a “significant shortfall” in the Model 3 production rate and a weak financial situation, […]

Swapalease Lease Approval Rates Up Slightly

Swapalease, an online peer-to-peer lease transfer company, reported a 70.9% lease approval rate in October, a slight increase from September’s 69.8% rate. The company said it wasn’t surprised by the modest month-over-month increase, saying consumer credit rose at a seasonally adjusted rate of just 3.3% in September, down from the 7% the month before.  And […]

GM Financial Profits, Originations Grow in 3Q

General Motors Financial boasted increased profits, higher loan originations, and improved credit quality in the third quarter, according to yesterday’s earnings. Net income for the quarter shot up 118% to $441 million, as the captive notched its fifth straight quarter of higher credit scores underlying finance volume. “We financed 43% of GM new vehicles sales […]