Financial

The Blue Oval is providing a safety net for individuals who are considering a certified pre-owned vehicle, as well as a used or new model, and financing the deal through its captive. In light of the unsettled economy impacted by COVID-19, Ford on Monday announced a program dubbed Ford Promise that gives consumers the option […] [Read More]

Jake Levant sees how the vehicle purchasing and financing process has improved for the consumer, but the vice president of marketing and partnerships at Lightico also emphasized that dealerships and finance companies still have some work to do to cut down on the friction buyers still experience. In this podcast, Levant explores how the coronavirus […] [Read More]

Fitch Ratings spotted another place where improving vehicle sales has been good for the automotive industry. Analysts reported this week that dealer floorplan (DFP) asset backed securities (ABS) trust performance metrics — including monthly payment rates (MPR) — have rebounded on the back of new U.S. auto sales rising in May and early June off […] [Read More]

The coronavirus pandemic sabotaged another merger in the financial-services space. Late Wednesday, Ally Financial and Cardholder Management Services (CardWorks) announced that they have mutually agreed to terminate their merger agreement, which had been first disclosed on Feb. 18. According to a news release, the board of directors for each company approved the termination after carefully […] [Read More]

If consumers aren’t securing a lease from a franchised dealership as much because of the coronavirus pandemic, they might be using alternatives to land a vehicle lease, based on the newest information from Experian and Swapalease.com. Experian’s latest State of the Automotive Finance Market Report showed a decrease in leasing year-over-year, with 24% of new […] [Read More]

On the surface, launching an initial public offering during a pandemic, with entire markets and industries only just beginning to restart, may seem like a head-scratcher. But for an ecommerce company in an asset-heavy, traditionally brick-and-mortar-based industry like automotive retail, it might make total sense. It did for Vroom this week. On Monday, the online […] [Read More]

Industry organizations like the National Independent Automobile Dealers Association and the National Association of Federally-Insured Credit Unions (NAFCU) cheered Congress for passing a measure that President Trump signed on Friday morning. The associations recapped that a bipartisan bill that would give small businesses like dealerships more time to use the funds from Paycheck Protection Program […] [Read More]

As industry experts predicted might happen, late on Friday afternoon Hertz Global Holdings announced it and certain of its U.S. and Canadian subsidiaries have filed voluntary petitions for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware. According to a news release, Hertz said the company still has $1 billion […] [Read More]

This episode of the Auto Remarketing Podcast ventures into the investment world with Gina Cocking, who is managing director of Colonnade Securities, a Chicago-based investment banking firm that specializes in merger and acquisition advisory services. Cocking not only shared an assessment of the current investment landscape, she also discussed the firm’s recent examination of the […] [Read More]

Racing enthusiasts watching the upcoming Memorial Day weekend race in Charlotte will see seven-time NASCAR Cup Series Champion Jimmie Johnson driving a Chevrolet Camaro ZL1 1LE with a subtle olive drab color. The vehicle will feature white military stenciled numbers and exposed rivets inspired by WWII military vehicles. Johnson and his sponsor Ally Racing on […] [Read More]