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AFS 2019: TFS to launch car-buying website with preapprovals [Video]

LAS VEGAS – Toyota Financial Services, in partnership with OEM Toyota Motor Corp., is piloting a product that will enable consumers to shop inventory at participating dealerships and secure preapprovals online, Carrie McNamara, TFS national manager of customer and dealer experience, said Wednesday at the Auto Finance Summit. Currently, seven or eight dealers are piloting the product, which […]

At the Big 4, Incentive Spending Drops, Even as Sales Dip

Old truisms apparently do not apply to auto finance. At least for now. When car sales fall, generally captives counter with greater subvention. But after years of incentives marching higher, incentives are dipping. At the Big Four — Ford, General Motors, Fiat Chrysler Automobiles, and Toyota — the aggregate incentive per unit fell 1.9% to $4,150, […]

Auto Finance Feels the Pressure of Fed’s Rate Hikes

Major automakers are reporting declines for U.S. sales as signs of tightening credit conditions are adding pressure to financing options for consumers.  Ford, Toyota, Nissan, and Honda all reported sales declines in September of 11.2%, 10.4%, 12.2%, and 7%, respectively. Though Hyundai sales rose 0.6%, sibling brand Kia was down 1.8%, according to sales reports. […]

Cracking China’s Door: Government Urges Foreign Lenders to Invest in China, Despite Barriers

    Financial institutions bemoan regulation in the United States, but it’s a drop in the bucket compared with lending in the People’s Republic of China. Non-bank financial companies — and their equity investors — have to be approved by the China Banking Regulatory Commission. Companies cannot expand branches without regulatory approval nor can they […]

Toyota’s $1B Investment in Grab to Boost Financial Services in Asia

Toyota Motor Corp. late Tuesday announced a $1 billion investment in Grab Holdings Inc. — the largest investment ever from an OEM into a ride-hailing startup — in part to collaborate on driving-data-based automotive insurance and financial services, according to a press release. Grab operates transportation platforms, food and package delivery, and financial services in […]
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