McLaren and Fisker Choose Chase for Branded Financing
McLaren and Fisker have branded their auto finance ventures and have them supported by Chase.

Fisker Ocean
Fisker
Both McLaren and Fisker have branded their auto finance ventures — private-label programs that resemble captive finance companies but are supported by Chase.
The McLaren Financial Services brand is now in place for the supercar manufacturer's loans and leases. The company has an associated website for online payments and statements under that name.
McLaren reports this venture is a first for the company and was done to promote the brand to its customer base and underline its endorsement of products offered to them.
Fisker has announced that Fisker Finance will start originating deals in the fourth quarter, which coincides with its production of the electric Ocean, its first vehicle, in November. Fisker began taking $5,000 deposits on the limited-edition Ocean One variant of the SUV on July 1.
"Fisker is a digital car company, first and foremost, focused on a seamless customer experience at every step," CEO Henrik Fisker said in a statement. "Providing finance options on our digital platform, including financing factory-installed options, is part of providing our customers with a completely hassle-free experience respectful of their time."
McLaren announced it will rely on Chase as its exclusive banking partner for leases and loans.
"We are excited to be able to provide both current and new owners with tailored and customer-centric leasing and financing solutions through McLaren Financial Services," McLaren Americas President Nicolas Brown said in a statement July 5. "This new relationship with Chase will allow even greater options for customers looking to experience the thrill of driving a new McLaren."
The company expects leasing to be the primary focus of the Chase relationship and McLaren's long-term strategy. In 2021, leasing made up 35% to 39% of sales.
Fisker also has Chase as its official U.S. retail loans partner and will use Santander for financing in Europe. The company announced its intent to add partners in other regions.
Fisker Finance will permit customers to finance not just its vehicles but also factory-installed add-ons and home charging equipment. Though Fisker does not operate franchised dealerships, customers can apply for Fisker Finance credit online or through the Fisker app.
Customers also can arrange their own Ocean financing through third-party lenders.
Fisker also plans to sell traditional auto insurance to customers online, though the premiums cannot be financed.
As far as traditional finance and insurance products such as guaranteed asset protection coverage and vehicle service contracts, Fisker continues to examine what services its reservation holders will want.
Originally posted on Auto Dealer Today
More Industry

World EV Adoption Set to Grow
A new report says the segment, despite recent setbacks in some regions, is poised for acceleration as many countries look to reduce pollution.
Read More →
Black Book: Weekly Market Update
Wholesale automotive auction business stayed steady last week as bidders encountered lower prices, analysts observed.
Read More →
Pricing Transparency Drives Purchase Consideration
An annual study by JD Power found that clear pricing matters to consumers on automaker websites, so much so that it increases their purchase consideration.
Read More →
Black Book: Weekly Market Update
Used-vehicle market depreciation was the prevailing story in the wholesale market last week.
Read More →
Smaller Is Looking Better
A growing number of Americans in the market for a new vehicle are opting for more affordable options, not waiting for market stability to bite the bullet.
Read More →
U.S. EV Market Slowly Stabilizes
U.S. electric-vehicle interest is slowly stabilizing since a major dip in sales after last year's end of the federal EV tax credit, and hybrids remain the leading electrified power train.
Read More →
Global EV Market Entering New Phase
Automakers are making investments to lower battery costs and optimize production to meet changing consumer needs.
Read More →
Black Book Weekly Market Update
The holiday weekend, not surprisingly, put a drag on wholesale automotive activity last week, analysts observed.
Read More →
Auto Affordability in Context
Cox Automotive points out the complex circumstances that have led to eye-popping vehicle prices.
Read More →
Black Book: Weekly Market Update
Automotive auction inventory increased last week, giving choosy bidders even more leeway.
Read More →