Captives, Full-Spectrum Lenders Dominate Market
Captives and full-spectrum lenders dominated the list of top 15 auto originators last year, based on market-share percentage, according to AutoCount USA Inc. data.
Captives and full-spectrum lenders dominated the list of top 15 auto originators last year, based on market-share percentage, according to AutoCount USA Inc. data. Only two prime lenders, Bank of America Corp. at 13 and Citizens Auto Finance at 14, made the top 15 list — and both watched their overall market-share shrink when compared to all other lenders.
More than 21.5 million U.S. vehicle transactions from 2006 were researched to find out which lending institutions controlled the largest share of the automotive finance market. Auto Finance News listed the top 15 auto lenders, as well as year-to-year change, in four categories: all financing transactions, new loans, used loans, and all leases.
Former captive GMAC LLC, which became an independent lender Nov. 30, 2006, was the overall financing leader for the fifth consecutive year, with 6.44 percent of the market in 2006. For the sixth consecutive year, Chase Auto Finance was the top non-captive at No. 6 with 3.41 percent of the market, followed by Wells Fargo Auto Finance at No. 7 with 3.2 percent of total auto financing market.
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