Using known operator-valued Fourier multiplier results on vector-valued Hölder continuous function spaces
${{C}^{\alpha }}(\mathbb{R};\,X)$, we completely characterize the
${{C}^{\alpha }}$-well-posedness of the first order degenerate differential equations with finite delay
$(Mu{)}'(t)\,=\,Au(t)\,+\,F{{u}_{t}}\,+\,f(t)$ for
$t\,\in \,\mathbb{R}$ by the boundedness of the
$(M,\,F)$-resolvent of A under suitable assumption on the delay operator
$F$, where
$A,M$ are closed linear operators on a Banach space
$X$ satisfying
$D(A)\,\cap \,D(M)\,\ne \,\{0\}$, the delay operator
$F$ is a bounded linear operator from
$C([-r,0];X)$ to
$X$, and
$r\,>\,0$ is fixed.