New York, NY (PRWEB) May 22, 2013
Auto finance outstandings are steadily regaining ground lost to the credit crisis, as financiers bolster originations and new players come on the scene. Loan and lease outstandings climbed 6.4% last year, the greatest annual growth since the boom years of 2006 when auto finance outstandings jumped 8.1%.
For the third straight year, the combined portfolios of the Top 100 financiers increased, according to the annual Auto Finance Big Wheels ranking of Top 100 car lenders and lessors, which was released today.
“Simply put, auto finance is back,” said Marcie Belles, Senior Editor, Auto Finance News. “Auto finance companies are making more loans and leases, and the market is attracting more capital and talent. The dark days of the credit crisis are firmly behind the auto finance sector.”
In all, the Top 100 financiers originated $398.6 billion of receivables, compared with $367.7 billion in 2011 according to the report, published by Auto Finance News.
Ally Financial slipped past Toyota Motor Credit Corp. to claim the No. 1 spot in the ranking. Ally ended the year with $67.3 billion of loans and leases outstanding, just $71 million ― 0.1% ― more than Toyota.
The top 10 auto finance companies in the U.S. in 2012:
1. Ally Financial Inc.
2. Toyota Motor Credit Corp.
3. American Honda Finance Corp.
4. Chase Auto Finance
5. Wells Fargo Dealer Services Inc.
6. Ford Motor Credit Co.
7. Bank of America Dealer Financial Services
8. Capital One Auto Finance Inc.
9. Nissan Motor Acceptance Corp.
10. BMW Financial Services
ABOUT AUTO FINANCE BIG WHEELS
The Auto Finance Big Wheels (http://www.bigwheelsdata.com) data report is the nation's only tabulation of auto lending and leasing. The report uses a wide range of public, private and proprietary data to formulate its ranking of the Top 100 auto finance companies. The report has been published annually since 1999 by Auto Finance News, the auto finance industry's leading news source. To order Big Wheels, please visit http://www.bigwheelsdata.com. Members of the media can receive commentary on the data by contacting Marcie Belles at 212-991-6733 or mdbelles(at)royalmedia(dot)com.