Mitsubishi Motors North America has selected Ally Financial as the preferred provider of leasing and financing for the Mitsubishi i. The partnership also calls for Ally to provide leasing for other vehicles in the Mitsubishi lineup, alongside Mitsubishi Motors Credit of America Inc.
Ally is already a financial services provider for Mitsubishi, but this new partnership will provide consumers with financing options beyond Mitsubishi Motors Credit.
"There are opportunities for Ally to partner with an OEM, even with current captive sources, to provide complementary products and services in helping the OEM and dealers sell more vehicles," Ally spokesman Steven Kinkade told AutoFinanceNews.net.
There are 400 Mitsubishi Motors dealerships in North America, and Ally has established retail relationships with half of the U.S. Mitsubishi dealer network.
“This will provide small businesses and consumers with even more convenient means to finance their new Mitsubishi Motors electric vehicle, making the Mitsubishi i more attractive to those individuals and companies that want to make a difference by opting for a sustainable and highly cost-effective form of transportation," said Yoichi Yokozawa, president and CEO of Mitsubishi Motors North America.
In addition to Mitsubishi, Ally currently serves as the preferred financial services provider for GM, Chrysler, Suzuki, Fiat, Maserati, and Vehicle Production Group vehicles, as well as RVs by Thor Industries and Forest River.