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Ally Financial expands used-car share, drives higher yields

Ally Financial‘s focus on used-vehicle originations is propping up its auto portfolio yields, according to the bank’s second-quarter earnings report. “First and second quarter tend to be our heavy used seasons,” Chief Financial Officer Jenn LaClair said on an earnings call yesterday. “And then Q3, and especially into Q4, we tend to have more of […]

Carvana to Buy Used Vehicles Through Honcker Leasing App

Leasing startup Honcker added used-car trade-in capabilities to its mobile app via a partnership established with Carvana in November 2018, Honcker Founder and Chief Executive Nathan Hecht told AFN. Technology integration was completed in February, and the companies officially launched the tool to users last week. With the partnership, consumers can sell their used car […]