Ford Motor Credit is No. 1 in J.D. Power’s latest rankings of customer satisfaction with auto finance companies. Analysts say the metric is increasingly driven by the digital experience.
Executives with the former AmeriCredit Corp. described GM Financial’s transition to General Motors’ captive finance source as ‘substantially complete’ during its recent first-quarter earnings call.
Despite a competitive subprime auto finance environment, GM Financial continued gravitating toward a more prime-like credit profile during the second quarter.
General Motors Financial Company Inc. broke ground on a new financial servicing center in San Antonio, Texas, on Monday. When completed in the Spring 2017, the 100,000-square-foot facility will represent the fifth servicing center in North America for the captive finance company.
GM Financial's transformation from subprime finance source to GM's captive finance company continued in the second quarter, with GM new-vehicle loans and leases accounting for 83.5% of total originations during the period.
GM Financial officials said Ally shouldn’t be surprised by GM’s decision to internalize its lease program. The company ended the year with a 50% share of GM’s lease business.
During a quarterly earnings conference call last week, Ally’s former CEO opened up about General Motors’ unexpected decision to move all of its lease incentives to its captive, GM Financial.
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