Latest news with #autoFinancing
Zawya
13-06-2025
- Automotive
- Zawya
Bahrain: Al Salam Bank launches auto financing in collaboration with BYD
Al Salam Bank has announced the launch of a new and comprehensive auto financing offer for BYD vehicles powered by renewable energy, as part of a strategic partnership with BYD, a global leader in New Energy Vehicle (NEV) manufacturing. This collaboration introduces an innovative financing solution that covers all major costs associated with owning a vehicle during the initial years, offering clients a seamless financing experience. The offer, which runs until December 31, 2025, includes a variety of benefits which includes special price for all models, a three-year service package, one-year registration fees, battery warranty of 8 years or 200,000 kilometres, a vehicle warranty of 6 years or 150,000 kilometres, and a multi-year insurance coverage for three years. Al Salam Bank offers this package at competitive prices with monthly instalment amount starts from BD83 (terms and conditions apply), enabling clients to finance their vehicles including its related operating recurring expenses over the next 3 years through a convenient installment plan. Commenting on the occasion, Al Salam Bank head of retail banking Mohammed Buhijji said: 'This collaboration with BYD reflects our ongoing commitment to delivering integrated financing solutions that meet the aspirations of our clients and offer a flexible and practical banking experience. Providing a comprehensive offer that covers all costs associated with purchasing a vehicle allows our clients to own their cars with ease and convenience, which is the goal we strive for at Al Salam Bank through all our initiatives.' Mohammed Adel Fakhro, director of Fakhro Motors, the exclusive distributor of BYD in Bahrain, said: 'We are proud of our partnership with Al Salam Bank in introducing this exceptional offer, which reflects our mutual commitment to providing integrated solutions that simplify the process of owning BYD vehicles – a brand that represents the future of sustainable mobility. We are confident that this initiative will enable Al Salam Bank clients to enjoy an outstanding driving experience supported by a comprehensive range of services and flexible financing terms.' Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Yahoo
23-05-2025
- Automotive
- Yahoo
Why Synchrony's Partnership Extension With Discount Tire is Important
Synchrony Financial SYF recently renewed and extended its long-standing partnership with Discount Tire, a major tire and wheel retailer in the United States. This deal ensures that customers at Discount Tire and its related brands can continue using Synchrony's Car Care network to finance tire and auto-related purchases at over 1,200 retail stores and more than a million additional locations within the Car Care network nationwide. This extension is significant because it reinforces Synchrony's position in the auto financing space. As vehicle ownership costs rise and cars stay on the road longer, more consumers are looking for ways to manage large, necessary purchases like tires. Through this partnership, SYF gives customers an easier way to afford essential auto maintenance by offering flexible financing, special promotions and convenient payment tools like Apple Pay. The move will also strengthen customer loyalty for both companies by enhancing convenience and affordability. As more customers finance big-ticket purchases like tires, Synchrony's loan volume will rise, and it stands to earn more from interest payments, especially when deferred interest promotions convert. Retaining a key partner like Discount Tire helps maintain consistent revenue streams and reduces churn risk in Synchrony's merchant base. With the card accepted at a million+ locations and being compatible with Apple Wallet, usage will continue to rise, leading to higher transaction volumes. Offering tools like a quick prequalification check without a credit score impact can drive more sign-ups, helping SYF grow its active user base and deepen customer lifetime value. These are important steps by the company, especially as its first-quarter results revealed some weaknesses. Total loan receivables of $99.6 billion slipped 2% year over year, while purchase volume fell 4% to $40.7 billion and average active accounts of 69.3 million decreased 3%. Shares of Synchrony have gained 31.5% in the past year compared with the industry's 8.2% rise. Image Source: Zacks Investment Research Synchrony currently carries a Zacks Rank #3 (Hold). Investors interested in the broader Finance space may look at some better-ranked players like Axos Financial AX, Intercorp Financial Services IFS and Oportun Financial OPRT, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. The Zacks Consensus Estimate for Axos Financial's current-year earnings witnessed three upward estimate revisions against no downward movement. It beat earnings estimates in each of the past four quarters, with an average surprise of 4.5%. The consensus mark for Axos Financial's current year revenues suggests a 5.4% jump from a year ago. The Zacks Consensus Estimate for Intercorp Financial's 2025 earnings indicates 41.6% year-over-year growth. During the past month, it has witnessed one upward estimate revision against none in the opposite direction. Intercorp Financial beat earnings estimates in each of the past four quarters, with an average surprise of 17.3%. The Zacks Consensus Estimate for Oportun Financial's current-year earnings suggests a 66.7% year-over-year increase. During the past month, it has witnessed two upward earnings estimate revisions against one in the opposite direction. The consensus mark for Oportun Financial's current year revenues is pegged at $962.4 million. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Synchrony Financial (SYF) : Free Stock Analysis Report AXOS FINANCIAL, INC (AX) : Free Stock Analysis Report Intercorp Financial Services Inc. (IFS) : Free Stock Analysis Report Oportun Financial Corporation (OPRT) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
