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Mercedes-Benz Subscription Program Triggers Finance Opportunities

An expansion of Mercedes-Benz’s subscription service is likely to spur new financing opportunities for the captive, Mercedes-Benz Financial Services USA, Vice President Geoff Robinson told Auto Finance News. “We are seeing subscribers use the program as a stepping stone to financing and leasing,” he said. “There certainly have been more doors opened for us because […]

HCA, Flexdrive Partner for New Mobility Venture

Hyundai Capital America has partnered with mobility subscription services platform Flexdrive — after nearly a year of discussions — to support the development of alternatives to the traditional vehicle-ownership model, Andrew Leone, vice president of commercial credit and risk at Hyundai Capital America, told Auto Finance News. “If you think about this topic of mobility, […]

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, […]

HyreCar Exec Eyes Rideshare Opportunities Beyond ‘Just Moving People’

HyreCar’s new director of strategic partnerships is thinking about moving products, not just people, with its peer-to-peer carsharing service. HyreCar connects car owners with idle vehicles to rideshare drivers in need of cars. “There’s going to be a lot more growth in food delivery, in medical pharmaceutical delivery, recreational drug delivery, and packages that is […]

Auto Finance Innovation Summit to Delve Into Leading-Edge Auto Finance Tech

Developments in machine learning, subscription services, and blockchain are spurring lenders to rethink and refine their operations. The 4th Annual Auto Finance Innovation Summit, a part of the week-long event Auto Finance Accelerate, will explore what innovations have true importance to the industry, and how those technologies can be refashioned to break auto finance’s mold. […]

USAA Bank Tees Up Subscription Services at Auto Experience Lab

USAA Bank’s Auto Experience Lab is working to enter the subscription service market, but even after seven years of development, rollout for that service is still “under the queue of projects to complete,” James Spears, assistant vice president at USAA Auto Experience, told Auto Finance News. Much of the work in the lab is dedicated […]

General Motors to Shut Down Cadillac Subscription Service by Yearend

General Motors Co. is reportedly hitting the pause button on its vehicle-subscription service, Book by Cadillac after launching nearly two years ago in Los Angeles, Dallas, and New York. A GM spokesman confirmed the OEM plans to shut down the service by yearend, the Wall Street Journal reported. However, there is still a chance that […]
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