From some of the largest financial institutions around to new, but growing, entities, auto finance has re-emerged as a growth sector in the credit market. Given the necessity of an automobile in the lives of most Americans, it is no wonder that the picture has improved in this business faster than in other parts of the credit spectrum. New Age Financial is positioned to help investors benefit from this strengthening trend, while still aggressively protecting their capital.
Positioned near the top of the group, AmeriCredit Financial (NYSE: ACF) was recently offered $3 Billion in a tender offer from General Motors. ACF represents one of the largest providers of auto finance operating in the world today. Even with all of GM’s monetary problems, they were able to identify that value. While ACF did not accept the offer, they did successfully extend their credit lines by $300 Million, allowing them to extend an even greater number of loans.
Similarly, Nicholas Financial (NASDAQ: NICK) reported a 36% increase in earnings that was driven primarily by a drop in delinquency rates. Details like these are readily available on the newswire and highlight some of the broad signs of recovery within this space. New Age Financial is well versed in these developments and can help you to take advantage of these trends.
The top 10 auto finance companies in the US last year were:
1. Ally Financial
2. Toyota Financial Services
3. Chase Auto Finance
4. Ford Motor Credit Co.
5. Wells Fargo Dealer Services
6. Bank of America Dealer Financial Services
7. American Honda Finance Corp.
8. BMW Financial Services
9. Nissan Motor Acceptance Corp.
10. Santander Consumer USA
We specialize in only sub-prime auto loan financing. This “boutique” approach makes us one of the most knowledgeable company. Visit Our Investor Center