Stellantis (FCA + PSA) setting up its own captive

Stellantis is buying Houston-based auto lender First Investors Financial Services Group to set up its own finance arm in the U.S., a move that should support sales and eventually boost profit.

The only major traditional automaker in the U.S. without its own finance company agreed to pay $285 million to a group of investors led by Gallatin Point Capital and Jacobs Asset Management, according to a statement. The transaction is expected to close by year-end.

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What about CCAP?

Isn’t that just Santander with lipstick?

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If it’s like GMF would be great (relatively painless transfers/low mf). If it’s like ford credit it will be bad.

Just laughing at the fact they ended up with a subprime lender. Couldn’t they drive 20 minutes to scoop up credit acceptance?

I don’t think they can afford credit acceptance. CACC has a 10 billion dollar market cap.

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