Subaru Enters Lending Business

Another automaker has added captive financing to its stateside offerings.

Japan-based Subaru, in announcing the move, said it also extended an existing partnership with U.S.-based Chase Bank to provide financing to its customers during its transition to captive loans.

“Subaru customers with existing loans and leases will not be affected by the changeover,” the automaker said.

It plans to offer “a full range of financing options, including retail loans, leases, and floor plan financing, with a target date of 2030.”

The automaker closely follows Europe-based Stellantis in entering the captive-financing business here. Stellantis said the addition is part of efforts to put customers at the center of its strategy and help its dealers increase business.

Subaru’s Chairman and CEO Yoichi Hori called the move, “a strategic opportunity to create future growth and continue our focus on customer loyalty.”

And the president and CEO of its U.S. arm, Jeff Walters, said captive financing gives Subaru “a stronger foothold in the U.S. market and allows us to grow our relationships with our customers and retailers.”