Chrysler officially hops on board 12-state credit union loan band wagon
Last week, GM partnered with credit unions in four states to offer up to $10 billion in new car loans and incentives. Not one to be left shivering alone in the cold, and with November sales down nearly 28% compared to last year, Chrysler LLC has just announced their own 12-state credit union program allowing its customers access to upwards of $12 billion in auto loan financing. The partnership (also called "Invest in America") gives participating credit union members additional $500 to $1,000 rebates on most Chrysler, Jeep, and Dodge vehicles. Steven Landry, Chrysler's executive VP of North America sales, says, "We are confident that the Invest in America program and credit union member cash will provide significant value for our customers and the economy as a whole during these challenging times." While additional cash on the hood of a new Chrysler sounds appealing, we really don't think that buyers are avoiding showrooms due to a lack of financial incentives -- it's been a buyer's market for months.
[Source: Automotive News - Sub. Req.]
Reader Comments (Page 1 of 1)
sajitmo 8:00AM (12/19/2008)
cool!
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Sea Urchin 8:32AM (12/19/2008)
But doesn't Chrysler have its own auto loan program + GMs Gmac?
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KLR 9:41AM (12/19/2008)
Chrysler's and GM's captive financing is caught up in the Wall St. financial mess that has largely shut down credit. This credit union deal for customers will help Chrysler Financial and GMAC free up their own funds to help dealers who can't get funding elsewhere.
Brian 9:35AM (12/19/2008)
I still cant get approved!?!
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