Ally Financial, Aston Martin Form Partnership
Ally becomes the preferred lender for the British luxury brand with 37 U.S. dealers.
May 1, 2015
For the second time this week, Ally Financial has announced it will provide auto financing services to a small-volume auto brand. The two are quite different, though.
First it was Japan-based Mitsubishi with an entry-level subcompact Mirage base-priced at $14,950.
Now, it’s Aston Martin, a well-heeled British luxury brand that sells cars starting at $118,650 and going well past $200,000.
Ally becomes the preferred financing source for Aston’s U.S. unit, offering a full line of financial products and services at dealerships in 37 locations, led by California and Florida with five each.
It’s an “exciting arrangement,” says Julian Jenkins, president of Aston Martin The Americas. “This new finance agreement broadens our customer offering and accessibility to the Aston Martin brand, supporting our ongoing growth in this region.”
Tim Russi, Ally’s president-auto finance, adds: “Ally offers a distinctive customer-centric approach that aligns with Aston Martin’s brand philosophy that will appeal to their customers.”
Car loans and leasing are among provided services in the Ally-Aston deal. Leasing packages include the V12 Vantage S for about $1,900 a month and the Rapide S for about $2,300.
Ally also will offer wholesale financing and remarketing services to dealers.
The automaker began in England in 1913. The brand gained fame in the 1960s because of James Bond movies; agent 007 drove one.
Ford owned the brand from 1991 to 2007. It’s now jointly owned with Italian private equity fund Investindustrial holding 37.5%.
In September, Nissan executive Andy Palmer became Aston Martin CEO. Aston has sold about 4,000 units a year worldwide, but hopes to increase that to 7,000 in the near future.
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