Chrysler Group has partnered with Chase Auto Finance to offer new-vehicle loans at the auto dealerships as part of efforts to improve the financing options for dealers and customers.
A statement from Chase reveals that participating Chrysler dealers will offer retail subvention financing “to provide prime and near-prime customers with low interest rates and other incentives to finance new-vehicle purchases.”
Chrysler spokesman Ralph Kisiel said that Ally Financial Inc. will continue to be the preferred lender for all Chrysler brands but this Chase deal will offer more financing options that are more affordable.
Presently, Chrysler currently offers leasing through U.S. Bank while Santander Consumer USA provides subprime loans for the automaker. On the other hand, Chase currently offers retail and commercial financing to all Chrysler brands.
Last week, Chrysler revealed a series of incentives and financing options that will be offered until Sept. 6. This means that a qualified buyer who finances a 2011 or 2012 model Chrysler, Dodge, Jeep or Ram through Ally Financial isn’t required to make a payment for 90 days.
In addition, Chrysler announced about five other promotions for qualified customers, such as 0% financing for 36 months on 2011 Dodge Chargers, Chrysler 300s and 300Cs. Chase, the preferred lender for Subaru, Mazda, Jaguar and Land Rover, has worked with Chrysler for over two decades.