Through DealerTrack, dealers can electronically submit credit applications to the industry's largest and most diverse network of banks, independent finance companies, captive finance companies
, credit unions and regional banks.
Captive finance companies dominate the new car market compelling independents to return to their roots in the used car and wholesale finance segment.
Consolidation among top-tier independents across Europe has enabled them to survive the competition from captive finance companies.
We now have a $1 billion dollar long-term facility from 16 leading financial institutions, including five automotive captive finance companies
," Hollingsworth said.
Today, CreditConnection dealers can communicate electronically with some of the largest financial institutions, finance companies and captive finance companies
that provide automobile credit, including AmeriCredit; BancOne; Bank of America; Bank of Montreal; Key Bank; NationsBank; PNC; Wachovia; WFS Financial; GMAC, the captive finance company of General Motors; and NMAC, the captive finance company of Nissan Motors.
auto manufacturers or their captive finance companies
would likely result in negative rating actions on certain U.
DCR's comprehensive report details the financial condition of the three auto captive finance companies
, Chrysler Financial Corp.
Interestingly, the data shows that captive finance companies
do more shorter terms leases, 12 to 36 months, while non-captive lessors do a greater percent of business in long-term leases, from 37 to 60 months.
Importantly, under Fitch's criteria for captive finance companies
, we generally may only recognize a one notch differential between the IDR of a captive finance company and that of an original equipment manufacturer (OEM).
captive finance companies
, in particular, are experiencing higher than expected residual value losses due to the steep drop in the values of vehicles coming off lease especially for SUVs and trucks.
The company offers proven, end-to-end auto remarketing solutions to auto manufacturers, captive finance companies
, lease and daily rental companies, financial institutions and wholesale auto auctions throughout the United States and Canada.