NMAC Ditches California, changes company name
Nissan’s captive finance company, NMAC, has changed its name and is no longer a California company. According to a letter sent to dealers, Nissan Motor Acceptance Corporation is now a Delaware-based limited liability company called Nissan Motor Acceptance Company LLC. The change came into effect on April 1.
The company says the change in its legal status “will have no impact on contracts already signed and in force.” In the same vein, the subsidiary that handles leasing for NMAC and Infiniti Financial Services has also changed its name from Nissan-Infiniti LT (Lease Trust) to Nissan-Infiniti LT LLC.
While consumers may not notice the change, there are a number of recent updates that are worth mentioning. As we reported today, NMAC now pays dealers a premium based on the total amount financed to an extent that we believe could potentially encourage dealers to sell more expensive cars and induce buyers to contract deals. longer loans.
According to Automotive news, the company decided to cancel the so-called “staircase” incentives based on sales targets criticized for creating a race to the bottom on prices. As we have seen previously, NMAC has also doubled subprime financing by partnering with external loan providers.
Nissan’s best deals continue to focus on finance. For example, the 2021 Rogue currently offers the choice of a $ 500 discount or 0% APR for 60 months plus $ 500 in special APR cash. Compared to a 5-year loan for an SUV of $ 30,000 at 4%, our analysis reveals that financing with NMAC could save more than $ 3,000 in interest.
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