The first Canadian ripple from Nissan's new stake in Mitsubishi Motors is a new financing division for Mitsubishi dealers. The two companies have announced that Nissan Canada Finance will offer leasing, loans, and dealer financing to Mitsubishi dealers in Canada, with similar efforts happening in Australia and New Zealand.
The new branch will be called Mitsubishi Motors Financial Services, but it will be part of Nissan Canada Finance. Mitsubishi Motor Sales of Canada boss Tony Laframboise said that the partnership will allow "competitive rates and a broader range of financial options" to customers and dealers. Nissan took a controlling share of Mitsubishi Motors in late 2016, buying a 34 percent share for US$2.3 billion.
Offering their own financing services as part of a larger network can lead to better lease and finance offers to customers. It can also make it easier for dealers to finance their own inventory, which could mean a better selection of cars on dealer lots.
The finance partnership will launch July 1.
