4 ms·
Do the automakers still finance car loans directly? I know GMAC turned into Ally and is no longer owned by GM. I'm not so familiar with the other automaker's fi
by gaadd33 12y ago
Do the automakers still finance car loans directly? I know GMAC turned into Ally and is no longer owned by GM. I'm not so familiar with the other automaker's financial arms.
- zrail 12y agoIn my experience buying a VW and a Mazda, the financing I've been offered has been through another company. I don't remember who the VW bank was (financed through my credit union at the time), but the Mazda financing is a co-branded Chase loan. According to Wikipedia[1] Ford is the only one of the big three Detroit manufacturers to still have it's own financing arm. As you noted, GMAC spun off into Ally, and Chrysler Financial was bought by TD Bank. [1]: http://en.wikipedia.org/wiki/Ford_Motor_Credit_Company http://en.wikipedia.org/wiki/Ford_Motor_Credit_Company
- kylec 12y agoI bought a VW earlier this year and financed it through VW Credit, which is part of the Volkswagen Group.
- maxerickson 12y agoThe 'new' GM bought a bank. They do a bunch of financing: http://www.gmfinancial.com/ http://www.gmfinancial.com/