Bmo automotive finance

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BMO Financial Group plans to close its retail auto finance business in order to reroute resources, as borrowers dig deep to stay on top of. Bank of Montreal (BMO) is winding down its indirect retail auto finance business and shifting focus to other areas in a move that will. Bank of Montreal will no longer originate indirect auto loans, the bank announced Saturday. The bank has operated its indirect auto loan business.
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Banks bracing for bad loans, but trouble only getting started. Read more about cookies here. Comments may take up to an hour to appear on the site. 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.