Ally Financial is the preferred lender for Fiat vehicles sold in the U.S.

Article by Christian Andrei, on October 8, 2010

Through a press release, Chrysler Group confirmed that its preferred consumer lender for Fiat vehicles sold in the US is Ally Financial. Its dealerships have been told that Ally, formerly known as GMAC, will offer floorplan packages for Fiat dealers, along with real estate and working capital loans.

In addition, Ally is the preferred wholesale and retail lender for Chrysler Group’s brands (Chrysler, Dodge, Jeep and Ram).

After being absent for about 25 years in the US market, Fiat is returning with the 500 subcompact, which will begin arriving in dealerships in December. Its advertising and market launch is scheduled for March. Chrysler is currently studying proposals from dealers who applied for Fiat franchises.

It is expected to reveal its Fiat network in the middle of October. Chrysler said that it will name 165 Fiat dealers, who will sign a separate franchise agreement and eventually will need separate Fiat facilities, including showroom space and service bays.

In a prepared statement, Fred Diaz, lead executive for US sales of all Chrysler Group brands, said that this relationship will assist dealers to fund their new stores and inventory, while Fiat customers are offered the opportunity to get retail financing through a trusted company.

Tim Russi, executive vice president of North American Operations for Ally Financial, also gave a statement. Russi said that Ally Financial is accepting applications for wholesale credit lines from dealers who are awarded a Fiat brand franchise. He emphasized that Ally’s primary role is to “help dealers buy and sell more vehicles.”

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