Mitsubishi finds an Ally in subprime

Ally Financial
By Ryan Bolger
28 Apr 2015

Mitsubishi wants to sell more cars to lower rated borrowers and has called in regular subprime auto ABS issuer Ally Financial to help out.

Ally, the rebranded former financing arm of General Motors that the US government bailed out in 2008, has entered into a partnership with Mitsubishi Motors to finance auto loans, leases and dealer floorplans. Ally will purchase Mitsubishi’s existing portfolio of $750m retail loans and leases as part of the ...

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