• Jul 21, 2010
Chrysler Financial hasn't been doing a whole lot since the domestic automotive implosion of aught-nine. When the Obama Administration's Automotive Task Force found that the lender didn't have the wherewithal to continue making large loans to dealers, GMAC was forced to take over lending duties for Chrysler. Part of that decision was due to the fact that last year, used car values were at one of their lowest points in decades. Since the majority of Chrysler Financial collateral involves used cars and trucks, that was a bit of an issue at the time.
But that was then and this is now. Used vehicle values have rebounded in a big way, and as such, word has it that Chrysler Financial is once again looking into making large-scale loans to dealerships across the country. Word has it that Tom Gilman, Chrysler Fianancial's chief executive officer, has been contacting numerous dealerships in order to get a feel for whether or not there's enough interest for the institution to return to lending, according to Automotive News. Even so, with most dealers now cozy with GMAC, it may be difficult for Chrysler Financial to reestablish itself as the titan it once was.

[Source: Automotive News – sub. req'd.]


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