Click for more.
Subaru Corp (Subaru Corp. NASDAQ: FUJHF) and Subaru of America, Inc. (SOA) this week announced that Subaru will enter the captive finance business to provide financing directly to Subaru of America customers and retailers.*
“Entering the captive finance business will help us support our sales division and our retailers, and strengthen our relationship directly with our customers, which will provide long-term value for our shareholders and partners. This is a strategic opportunity to create future growth and continue our focus on customer loyalty,” said Yoichi Hori, Chairman and Chief Executive Officer, SOA.
SOA also announced an extension of its existing partnership with long-term financial partner Chase to supply financial services for its Subaru Motors Finance (SMF) division through the transition. This will provide continuity for existing customers and retailers through SMF. Subaru customers with existing loans and leases will not be affected by the changeover.
Subaru plans to begin supplying a full range of financing options, including retail loans, leases, and dealer floor plan financing, with a target date of 2030. [Since 2001, Chase Auto has been the private label finance partner for Subaru of America, providing customized retail, lease and commercial services as well as strategic support Subaru retailers in the U.S. Through the brand Subaru Motors Finance, Chase has financed millions of Subaru drivers – AutoCrat.]
*AutoInformed on
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
Subaru to Enter the ‘Captive Finance Business’ by 2030
Click for more.
Subaru Corp (Subaru Corp. NASDAQ: FUJHF) and Subaru of America, Inc. (SOA) this week announced that Subaru will enter the captive finance business to provide financing directly to Subaru of America customers and retailers.*
“Entering the captive finance business will help us support our sales division and our retailers, and strengthen our relationship directly with our customers, which will provide long-term value for our shareholders and partners. This is a strategic opportunity to create future growth and continue our focus on customer loyalty,” said Yoichi Hori, Chairman and Chief Executive Officer, SOA.
SOA also announced an extension of its existing partnership with long-term financial partner Chase to supply financial services for its Subaru Motors Finance (SMF) division through the transition. This will provide continuity for existing customers and retailers through SMF. Subaru customers with existing loans and leases will not be affected by the changeover.
Subaru plans to begin supplying a full range of financing options, including retail loans, leases, and dealer floor plan financing, with a target date of 2030. [Since 2001, Chase Auto has been the private label finance partner for Subaru of America, providing customized retail, lease and commercial services as well as strategic support Subaru retailers in the U.S. Through the brand Subaru Motors Finance, Chase has financed millions of Subaru drivers – AutoCrat.]
*AutoInformed on
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.