Westlake Financial Services will now list its vehicles on SmartAuction, as part of an agreement between Westlake and Ally Financial, according to a company announcement.
Photo courtesy of Ally Financial.
Photo courtesy of Ally.
Westlake Financial Services will now list its vehicles on SmartAuction, as part of an agreement between Westlake and Ally Financial, according to a company announcement.
Westlake Financial is one of the largest privately held finance companies in the country and SmartAuction is Ally Financial’s online auction that offers dealers access to an inventory of 25,000 vehicles.
“We are excited to team with Westlake, a growing national leader in the automotive industry, to be part of its remarketing strategy,” said Steve Kapusta, vice president, specialized asset management for Ally. “We look forward to putting the value of SmartAuction and our digital remarketing support to work for Westlake by providing greater reach and convenience for their vehicles in the wholesale marketplace.”
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.
Read More →
The arrangement accesses cloud-based software designed to help financial institutions keep track of their vehicle and asset collections and limit repetitive clunky tasks.
Read More →
CAR 2023: Politics may be tough territory, but trade groups that build bridges in Washington, D.C. are less likely to get eaten at the regulatory table.
Read More →
Auto finance companies and remarketers should prepare to navigate a more active regulatory environment this year from the CFPB and FTC.
Read More →
Used financing increased 2.4% year-over-year and reached 55.15% in the third quarter of 2019.
Read More →
Several manufacturers offered attractive discounts and competitive pricing on compact cars and SUVs, while most luxury and full-size vehicle brands maintained their lease prices.
Read More →
The Federal Reserve announced a quarter-point interest rate reduction yesterday, its third such move this year. The target federal funds rate now stand at 1.5% after starting the year at 2.25%.
Read More →
Cox Automotive’s chief economist, Jonathan Smoke, said he didn’t expect the Fed’s latest move to match the impact of the July cut for auto manufacturers or dealers.
Read More →
Swapalease.com, a car lease marketplace, reports car lease credit applicants registered a 69.1% approval rate in July, a rise from the June rate of 65%.
Read More →
Federal Reserve Chairman Jerome Powell officially announced a widely expected cut to the federal funds rate yesterday, dropping the central bank's target by a quarter-point to 2%.
Read More →
