It’s only been a month since Chrysler switched their preferred lender from Ally Financial Inc to their own Chrysler Capital and it already looks to be a success. The opening month for the new auto lending service is off to one strong start.
Back in May, Chrysler parted ways with Ally to focus on the creation of their own lending group, Chrysler Capital. Since then, Chrysler Capital has worked on about 21 percent of the loans given out at the 2,500 Chrysler dealerships across the nation. That makes them the top loan writer at Chrysler dealerships.
“”I consider that pretty strong right out of the chute,” said Reid Bigland, Chrysler Group’s head of US sales. “There’s a pretty thick Rolodex of financial providers that is now available to dealerships.”
Bigland went on to say that he thinks lenders are so aggressively pushing into auto loans because the value of a car has held up much stronger than homes during the recent economic downturn. Credit availability is now the best it’s been in the history of automotive financing.
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