Yesterday, President Barack Obama said that new car shoppers shouldn’t be afraid to buy Chrysler vehicles since the U.S. government will back their warranties. But where do you go if you want to lease or finance a new Chrysler?
According to Chrysler’s co-President Jim Press, thousands of Chrysler dealers who have no financing plans will have the opportunity to sign up with GMAC. GMAC said today that the company will sign up all Chrysler dealerships that now use Chrysler Financial to finance their vehicles.
GMAC will be getting additional funding from the government to setup a financing service for Chrysler dealers.
“We will step in and fill the gap,” GMAC President Bill Muir told Automotive News. “It involves a few thousand dealers. It’s our expectation we can do that by the middle of May.”
Chrysler will have its own “private branded” organization with GMAC.
– By: Omar Rana