GM Financial launches Opel Financial Services brand in Europe

Article by Anita Panait, on May 7, 2013

GM Financial Company Inc. has launched its new Opel Financial Services brand, after buying back European and other international operations of Ally Financial. With its German banking license – held by Ally -- back in-house, GM unit Opel/Vauxhall now hopes to offer cheaper loans and leasing deals. With an in-house service helping provide auto financing, Opel is expecting that the proportion of cars sold using financing to exceed the current level of 40 percent.

Meanwhile, rival carmakers could sell up to 50 percent of their vehicles through financing offers. According to Opel Chief Financial Officer Michael Lohscheller, Opel Financial Services will offer more attractive financing deals, including zero interest rates with no down payment.

He remarked that the launch of Opel Financial Services was a very important step for the brand and its product offensive, noting that the carmaker was not always in a position to make the best financing offer as it does not have its own bank like its rivals.

The financing offers will apply to Opel and Vauxhall customers in Germany, the United Kingdom, Italy, Belgium, the Netherlands, Luxemburg, Sweden, Switzerland and Austria.

Opel said it would launch the offers to other European countries later. As part of its $4.2 billion acquisition deal with Ally Financial, GM Financial has attributed $1.7 billion to its European financing operations, Lohscheller disclosed. The partial closing of the acquisition deal in April 2013 allowed GM Financial to regain the German banking license, enabling it to offer more favorable refinancing opportunities.

Topics: gm, opel, europe

If you liked the article, share on:

Comments

Recommended

Citroen revealed that its entry to the Chinese market is moving forward with the planned release of the new generation C5. While still on sale on this part of the...
by - February 26, 2017
There is definitely a second-generation Super Series from McLaren. Even in camouflaged form, it is simply incredible. But while we still don’t have the full data on how truly dynamic...
by - February 25, 2017
A lot of fans are excited with the news that Porsche could be unveiling a performance version of its Panamera 4 E-Hybrid plug-in hybrid during the 2017 Geneva Auto Show. ...
by - February 25, 2017
Tesla is finally setting a more “definite” schedule with regards to the official launch of the Tesla Model 3 electric car. A “limited production” is said to be slated to...
by - February 25, 2017
Are you a big fan of legendary boxer Mike Tyson, the former heavyweight world champion? Or are you a big fan of the iconic Ferrari F50? Either way, you will...
by - February 24, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries