Thursday, October 08, 2015
Current Weather
Loading Current Weather....
Published: Thursday, 2/7/2013

Chrysler to form firm to make auto loans

AUBURN HILLS, Mich. — Chrysler Group LLC, the automaker controlled by Fiat SpA, agreed to make a U.S. unit of Banco Santander SA its preferred provider for auto loans, replacing Ally Financial Inc.

Chrysler and Santander Consumer USA Inc. will form Chrysler Capital to provide customers with financing to buy and lease vehicles, the company said Wednesday. Chrysler Capital will begin operating May 1. It also will provide dealers with wholesale loans to allow them to buy vehicles from the manufacturer.

Chrysler said in April, 2012, that it would let an agreement with Ally expire this April.

Recommended for You

Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.