Bmo auto loan news

bmo auto loan news

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BMO Financial Group plans to close its indirect retail auto finance business in order to reroute resources, as borrowers dig deep to stay on. BMO Financial Group says it will close its retail auto finance business to reroute resources following a rise in bad debt. BMO plans to close its retail auto finance business in order to reroute resources, as borrowers dig deep amid interest rate hikes. Read on.
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With indirect retail auto financing, the bank works with car dealerships to arrange financing for buyers who make monthly payments to the lender � and has the potential to be a more complicated relationship with three parties involved. Andrew Willis. The nuances of indirect retail auto financing are often hazy for shoppers.