Industry | Car finance |
---|---|
Fate | Dissolved |
Founded | 1997 |
Defunct | 2009 |
Headquarters | Little Rock, Arkansas |
Parent | GMAC (now Ally Financial) |
Nuvell Financial Services was a subsidiary of GMAC (now Ally Financial) that originated subprime auto loans. In March 2009, the company was shut down by its parent.
Nuvell was based in Little Rock, Arkansas, with other offices in Bedford, Texas, Jacksonville, Florida, Greeley, Colorado, and Anaheim, California.
Nuvell also serviced loans for American Suzuki Financial Services and Saab Group (SFSC).
The company was founded in 1997 when GMAC acquired the assets of LSI Holdings Inc. [1] [2] [3]
In June 1998, Tommy Pritchard was appointed president of the company. [1]
In February 2000, the company began buying contracts originated by dealers affiliated with National Auto Finance Co., as long as they met Nuvell's standards. [4]
In March 2009, the company was shut down by its parent. [5]
Washington Mutual, Inc—abbreviated to WaMu—was a savings bank holding company and the former owner of WaMu Bank, which was the United States' largest savings and loan association until its collapse in 2008.
Western Auto Supply Company—known more widely as Western Auto—was a specialty retail chain of stores that supplied automobile parts and accessories. It operated approximately 1200 stores across the United States. It was started in 1909 in Kansas City, Missouri, by George Pepperdine and Don Abnor Davis. Pepperdine later founded Pepperdine University. Western Auto was bought by Beneficial Corporation in 1961; Western Auto's management led a leveraged buyout in 1985, leading three years later to a sale to Sears. Sears sold most of the company to Advance Auto Parts in 1998, and by 2003, the resulting merger had led to the end of the Western Auto brand and its product distribution network.
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