Around a year ago, President Barack Obama said that Chrysler Financial wasn’t viable. However, today it seems the company is benefiting from a rebound in used-car prices, which have soared from the lowest in more than 13 years in December 2008 to the highest record in May.
With that in mind, sources familiar with the matter say that Chrysler Financial is planning on resuming loans on a large scale to customers and dealers after losing the status as Chrysler’s main lender.
Sources say that the company plans to start with loans to buyers with near-prime credit and is also looking to raise money and is considering a name change to go along with everything.
– By: Omar Rana
Source: Automotive News (Subscription Required)