US Car Loan Firms Being Sold to Japan

Two car loan firms in the United States are looking to be bought by a Japanese company according to reports. Reports have the two auto loan companies as Affiliated Financial Corp. and BayQuest Capital Corp, being sold for an undisclosed sum.

The Japanese company, Mitsui & Co, Ltd. has agreed to buy the Florida based companies, but not completely. They have agreed to purchase an 87.5 percent stake in each of the above mentioned companies, but again did not say how much they were paying for that portion of the companies.

The companies have about 100 staff total, and each company will continue to hold the other 12.5% remaining in their companies. Mitsui is the second biggest trading company in Japan. This move solidifies their desire to go global with car loans.

The company would like to increase not only their global car sales, but also their sales financing, dealerships, and assembly in the auto industry. They are currently supporting Toyota Motor Corp.’s operations in America and also own a stake in United Auto Group. United Auto is one of the big names in auto dealerships in the US.
 

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