Ford Motor Credit has launched Ford Insure, a new program underwritten by Nationwide and designed to offer car buyers auto insurance at rates discounted by as much as 40%.
A jury deliberated for less than an hour before deciding Reagor Dykes’ Bart Reagor owes Ford Motor Credit Co. the full amount it demanded following an investigation into the Texas group’s floorplanning practices.
The captive announced a new connection to San Francisco-based AutoFi, which provides a platform that allows customers to purchase and finance a new vehicle via the dealership’s website.
F&I pro says dealers need to consider the repercussions of longer term loans before making them their new normal.
In a dealer bulletin obtained by F&I and Showroom, Ford Motor Credit announced the availability of 84-month financing on new retail and subvented rate contracts. The bulletin urges dealers to consider the negative impacts of longer term loans.
Former executives of Capital One and Ford Motor Credit Co. have joined the board of SpringboardAuto.com, a new direct-to-consumer auto loan platform launched by the former founder of CarFinance Capital.
The firm’s annual Consumer Financing Satisfaction Study showed that Lincoln Financial Services led the way in the luxury segment, while Ford Credit ranked highest in the mass market segment.
Ford Motor Credit is offering peer-to-peer car sharing through a pilot program in six U.S. cities and London. The program will allow Ford Credit customer to rent their vehicle to prescreened drivers for short-term use, offsetting monthly vehicle ownership costs.
Mike Bannister will retire as Ford Motor Credit Company’s chief executive on Jan. 1. His replacement will be Bernard Silverstone.
GM Financial reports second-quarter profit gains, while Ally Financial’s profitable auto-lending segment is weighed down by the company’s mortgage business.
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