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I can see how auto dealers sell debt (by offering loans), but how do auto manufacturers do so?
by trendia 10y ago
I can see how auto dealers sell debt (by offering loans), but how do auto manufacturers do so?
- cmdrfred 10y agoOften the loans are though the manufacturer. Example: https://www.toyotafinancial.com/ https://www.toyotafinancial.com/
- douche 10y agoThe US big three all have financial services companies centered on auto loans. https://en.m.wikipedia.org/wiki/Ford_Motor_Credit_Company https://en.m.wikipedia.org/wiki/Ford_Motor_Credit_Company https://en.m.wikipedia.org/wiki/GM_Financial https://en.m.wikipedia.org/wiki/GM_Financial https://en.m.wikipedia.org/wiki/TD_Auto_Finance https://en.m.wikipedia.org/wiki/TD_Auto_Finance
- slededit 10y agoIts interesting to note that GM Financial is a rather new addition to GM. They sold their original vehicle financing arm (GMAC) during their bankruptcy as did Fiat Chrysler.
- maxerickson 10y agoNow Ally: https://en.wikipedia.org/wiki/Ally_Financial https://en.wikipedia.org/wiki/Ally_Financial
- 90002 10y agoThey're also working in concert with Uber to offer subprime financing to drivers who don't currently own a vehicle of their own. http://www.businessinsider.com/uber-encourages-drivers-sign-up-subprime-loans-2014-11 http://www.businessinsider.com/uber-encourages-drivers-sign-...
- Spooky23 10y agoThey sell the cars to the dealers and lend money to them to do so.