Ally Financial Inc. and Fair have partnered to allow Fair to use Ally’s SmartAuction as a remarketing solution for its returned cars, according to a company announcement.
by Staff
April 13, 2018
1 min to read
Photo courtesy of Ally.
Ally Financial Inc. and Fair have partnered to allow Fair to use Ally’s SmartAuction as a remarketing solution for its returned cars, according to a company announcement.
Fair is a relatively new company that offers a different approach to vehicle ownership. Unlike traditional financing or leasing, customers who choose a vehicle through Fair can own that vehicle for as long or as little as they want, whether that’s a month, a year, or four years.
Ad Loading...
Typically Fair gives the dealer that originated the vehicle transaction the first opportunity to buy the vehicle back once a vehicle is returned.
Now, per the terms of this agreement, that vehicle will be offered to other dealers through Ally’s digital wholesale auction, SmartAuction, as a remarketing option if the originating dealer does not purchase the vehicle.
This is yet another avenue for digital wholesale sales in a market that has seen a rise in digital sales.
In 2017, 40% of vehicles sold by Manheim — 2 million — were purchased through a digital screen as opposed to in-lane, according to Manheim. Through Manheim.com, OVE, and RMS, Manheim sold 630,000 vehicles, amounting to 15% growth year-over-year.
New-vehicle affordability declined in April to the worst level yet this year as the bite of higher prices and lower incentives reversed an improving trend.
Toyota Motor Credit Corp. will replace Mazda Capital Services as the captive consumer loan and lease financing company for U.S. Mazda dealers, according to a report filed with the Securities and Exchange Commission Wednesday.
Nissan Motor Acceptance Corp. will pay $3 million to the U.S. Department of Justice to settle claims of improper repossessions and lease terminations of members of the military.
Two Michigan men have been charged with allegedly conspiring to steal Volkswagen and Audi diesel vehicles involved in the emissions scandal that were parked at the Pontiac Silverdome, U.S. Attorney Matthew Schneider announced March 11.