Chrysler Capital, the lender formed by Chrysler Group and Santander Consumer USA has become the most-used lender by Chrysler dealerships within six weeks of launch.
With all of the manufacturer’s subvented loans and leases going through Chrysler Capital the company is currently writing just over a fifth of all finance arrangements on Chrysler models.
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This means Chrysler Capital has overtaken Ally Financial as the brand’s preferred lender, although Ally will maintain its relationship with Chrysler dealerships, and Santander’s share of finance written on Chryslers has moved into double digits.
Rather than a standard white label agreement, Chrysler Capital is owned by Santander Consumer USA, with its credit risk held by Santander, not Chrysler.
richard.brown@timetric.com
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