GM Financial reported increases in loan originations and reduced delinquencies and charge-offs, but lease originations fell $2.3 billion from the first three quarters of 2017.
FORT WORTH, Texas — General Motors Financial Company Inc. reported net income of $441 million for the quarter ended Sept. 30, 2018, compared to $442 million for the quarter ended June 30, 2018, and $202 million for the quarter ended Sept. 30, 2017. Net income for the nine months ended Sept. 30, 2018, was $1.3 billion, compared to $466 million for the nine months ended Sept. 30, 2017.
Retail loan originations were $6.7 billion for the quarter ended Sept. 30, 2018, compared to $6.0 billion for the quarter ended June 30, 2018, and $4.7 billion for the quarter ended Sept. 30, 2017. Retail loan originations for the nine months ended Sept. 30, 2018 were $17.8 billion, compared to $15.5 billion for the nine months ended Sept. 30, 2017.
Ad Loading...
The outstanding balance of retail finance receivables, net of fees, was $37.9 billion at Sept. 30, 2018. Operating lease originations were $5.4 billion for the quarter ended Sept. 30, 2018, compared to $6.2 billion for the quarter ended June 30, 2018, and $6.5 billion for the quarter ended Sept. 30, 2017.
Operating lease originations for the nine months ended Sept. 30, 2018 were $17.3 billion, compared to $19.6 billion for the nine months ended Sept. 30, 2017. Leased vehicles net was $44.1 billion at Sept. 30, 2018. The outstanding balance of commercial finance receivables, net of fees was $11.1 billion at Sept. 30, 2018, compared to $10.7 billion at June 30, 2018 and $9.5 billion at Sept. 30, 2017. Retail finance receivables 31 to 60 days delinquent were 3.4% of the portfolio at Sept. 30, 2018 and 3.6% at Sept. 30, 2017.
Accounts more than 60 days delinquent were 1.3% of the portfolio at Sept. 30, 2018 and 1.6% at Sept. 30, 2017. Annualized net charge-offs were 1.7% of average retail finance receivables for the quarter ended Sept. 30, 2018 and 1.9% for the quarter ended Sept. 30, 2017. For the nine months ended Sept. 30, 2018, annualized retail net charge-offs were 1.8%, compared to 1.9% for the nine months ended Sept. 30, 2017.
Credit card down payments, multiple vehicle purchases and even straw purchases can be completed without committing bank fraud, as long as you tell the bank first.
Cox Automotive’s index shows the subprime segment, long loan terms, negative-equity borrowers and down payment amounts all grew in February despite ever-higher vehicle prices.
Auto loan originations rose over 6% year-over-year in the third quarter of 2025, but TransUnion predicts a slight decline in auto loan growth this year, making it an outlier in the company's overall lending forecast.
December brought some of the best borrowing availability for consumers in years, though lenders tightened their reins on riskier segments of the market.
