DETROIT—Chrysler Group LLC is in discussions with banks about
establishing an in-house lending arm through a joint-venture to better
compete in the U.S. auto market, according to people familiar with the
matter.
Chrysler, which gave up its struggling finance unit in its 2009 bankruptcy, has used government-owned Ally Financial Inc. as its preferred lender for customers loans and leasing, and for the loans that dealers use to finance vehicle purchases from the manufacturer.
With its contract with Ally scheduled to end in 2013, Chrysler is talking to several major lenders including Ally, and J.P. Morgan Chase & Co., to create a new lender. Banks have approached the auto maker in the past year as its fortunes rose.
Chrysler today writes far fewer leases than rivals on its new vehicles. Above, a shopper checking out Dodge pickups in Peoria, Ill., last month.
For detailed review of Chrysler Group LLC Click here
and Read more reviews at Contract cars UK
Chrysler, which gave up its struggling finance unit in its 2009 bankruptcy, has used government-owned Ally Financial Inc. as its preferred lender for customers loans and leasing, and for the loans that dealers use to finance vehicle purchases from the manufacturer.
With its contract with Ally scheduled to end in 2013, Chrysler is talking to several major lenders including Ally, and J.P. Morgan Chase & Co., to create a new lender. Banks have approached the auto maker in the past year as its fortunes rose.
Chrysler today writes far fewer leases than rivals on its new vehicles. Above, a shopper checking out Dodge pickups in Peoria, Ill., last month.
For detailed review of Chrysler Group LLC Click here
and Read more reviews at Contract cars UK
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