AUBURN HILLS — Chrysler Capital, the new private-label, full-service lending program of Santander Consumer USA Inc. and Chrysler Group LLC, launched today with a broad spectrum of auto financing services for Chrysler Group customers and dealers. Under a 10-year, private-label agreement, Chrysler Capital operates as a stand-alone company, managed jointly by Santander Consumer USA and Chrysler Group LLC.
Chrysler Capital provides Chrysler, Jeep, Dodge, Ram Truck, SRT and FIAT customers with competitive retail purchase and lease financing. The new entity, which operates in all 50 states, also provides wholesale financing and related services to Chrysler Group dealers, including lending solutions for dealership construction, real estate, working capital and revolving lines of credit.
Chrysler Capital will make it easier for Chrysler Group dealers to compete with other automakers that turn to in-house financial services subsidiaries to help offer credit to customers and more competitive financing alternatives.
“With today’s launch of Chrysler Capital, our customers now have access to the most competitive retail purchase and lease financing in the industry at their Chrysler Group dealerships,” said Peter Grady, vice president of Network Development and Fleet. “Chrysler Capital also is dedicated to providing our customers with the finest, most responsive customer service in the industry.”
In addition to providing the services dealers expect from a full-service finance partner, Chrysler Capital will also offer innovations that translate into incremental car sales. In particular, Chrysler Capital’s data and technical infrastructure will allow the company to provide consultative services to dealers such as strategic marketing, online and mobile sales tools, and the ability to help dealers match customers with inventory on dealers’ lots, based on customers’ needs.
“Our top priority is providing best-in-class service to Chrysler’s dealers and consumers, while staying true to our entrepreneurial culture and focus on innovation,” said Thomas Dundon, chief executive officer and president of Santander Consumer USA. “We have a terrific partner in Chrysler and we are positioned to help them meet and exceed their sales goals.”
The processing and funding of finance applications submitted by Chrysler Group dealers has already begun, and Dealer Relationship Managers began calling on all Chrysler Group dealerships in early spring.