GM Financial Selects DataScan for Commercial Lending Business
GM Financial announced it has chosen DataScan Technologies LLC as its systems provider for the captive’s Commercial Lending Services business.
FORT WORTH, Texas — GM Financial announced it has chosen DataScan Technologies LLC as its systems provider for the captive’s Commercial Lending Services business.
GM Financial said it plans to launch its Commercial Lending Services business this April, offering floorplan financing; capital, real estate and construction loans; floorplan insurance and cash management programs to GM dealers in the United States and Canada.
"As we looked to build a best-in-class commercial lending platform, aligning ourselves with industry leaders was a must," said Brian Fallon, senior vice president of Commercial Lending Services. “When it came to selecting a provider for dealer loan systems and inspection services, DataScan had the history and experience necessary to help us develop a comprehensive program that meets the needs of our GM dealer partners."
DataScan also will conduct GM Financial’s floorplan inspections. The floorplan solution will utilize DataScan's wholesale management system, dealer access system, risk management system and field service nationwide coverage.
"We look forward to the new business relationship with GM Financial and are pleased to have the opportunity to provide them with our expertise as they launch their dealer commercial business," said Brent Sergot, vice president and general manager of DataScan. "DataScan's support systems and services will streamline GM Financial's lending and risk mitigation through an easy-to-use online interface, as well as accommodate our clients' future growth plans."
For more information, visit GM Financial in the General Motors' booth (2666) at the 2012 NADA Convention & Expo.
More Auto Finance
Dealerships Are Paying the Price for Extended Car Loans
Growing negative-equity scenarios mean such lengthy terms should be addressed in a forward-looking way to make them work for the dealer and the consumer down the road.
Read More →
Trade-Ins in Negative Equity Reach New Heights
As such trade-ins rise in frequency, so do monthly loan payment amounts and interest rates, according to second-quarter data compiled by Edmunds.
Read More →
Auto Credit Plentiful
June numbers show lenders are readily granting access, including to risky borrowers, as consumers leverage themselves to take on high prices.
Read More →
Automotive Consumers Sink Further in Debt
Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
Read More →
Porsche Financial Services Shifts Structure
After 36 years with Porsche, the Financial Services Chief Financial Officer Konrad Riedl is retiring, and the department is realigning its management structure.
Read More →
Tariffs Could Raise Insurance Premiums
As U.S. import tariffs affect repair costs, consumers might find it more affordable to replace a damaged vehicle, according to recent Insurify tariff analysis.
Read More →
Smaller Loans, Longer Terms
The youngest generation of car buyers is more likely to finance less expensive vehicles, more than half of generation Z consumers borrowing less than $25,000.
Read More →
New Cars a Tad More Affordable
May averages show that combined circumstances gave auto consumers slightly better buying power for the month, though average prices were up year-over-year.
Read More →
First-Quarter Sees Long Auto Loan Growth
Experian data show more consumers are tapping the method, along with refinancings, to afford buying. Meanwhile, subprime borrowers are getting more access.
Read More →
Mastering Credit Friction
In this video, Josh Krach explains how to turn credit friction into an advantage.
Read More →