Chrysler Financial may lend big again
Chrysler Financial Co. may resume large-scale loans to consumers and dealers, after losing its status as the main lender to its namesake dealers last year, said a person familiar with the company's plan.
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Source: Chrysler Financial may lend big again
Quote from the article:
| The shift in strategy shows how the lender that President Barack Obama said wasn't viable a year ago is benefiting from the rebound in used-car prices, which have soared from the lowest in more than 13 years in December 2008 to the highest on record in May. Now that its collateral is more valuable, it may be able to raise money and accelerate lending. "There's always a place for another lender," said Maryann Keller, president of Maryann Keller & Associates in Stamford, Conn. "Chrysler Financial has to come up with a business plan that identifies who its dealer partners are and how the company will raise capital." The company used to operate as a captive finance unit of Chrysler LLC, providing loans to dealers to buy inventory as well as financing sales and leases to consumers. When the automaker went bankrupt last year, Chrysler Financial was replaced by GMAC as the primary lender for Chrysler dealers. Since then, it has mostly collected payments on outstanding loans. |
Source: Chrysler Financial may lend big again
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