Chrysler Discontinues Lease Option
Chrysler told its dealer today that the company would no longer offer customers the option to lease its vehicles through the company's finance arm effective August 1. This decision accompanies falling resale values of gas-guzzling trucks and SUVs continue to add up.
Just yesterday, Ford announced a $8.7 billion second-quarter loss which entailed a $2.1 billion write down related to its lease program.
While Chrysler dealers are still about to offer leases through other financial companies, co-president James E. Press said that they would focus on more traditional financing offers. He also noted that leasing has become less popular that in the past due to low interest rates.
According to Chrysler, one in five customers lease, with higher popularity in certain areas such as Detroit.
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- News Source: International Business Times | about 1 year agoAutomotive Lease Guide Inc., which provides residual value forecasts, attributed the reversal to soaring gas prices and a weak economy that have steered consumers away from gas-guzzling SUVs and trucks and toward more fuel efficient cars. "If you...
- News Source: Asian Wall Street Journal | about 1 year agoChrysler Lending Arm In Weakened Position As It Refinances Word Count: 496 Companies Featured in This Article: J.P. Morgan Chase A critical deadline is approaching for Chrysler LLC, which must refinance $30 billion of its lending arm's working...
- News Source: Chicago Tribune | about 1 year agoChrysler LLC , burned by declining resale values on vehicles coming back from leases, particularly trucks, said Friday it would stop writing leases through its Chrysler Financial unit on Aug. 1. Instead, Chrysler has boosted incentives for customers...
- News Source: Los Angeles Times | about 1 year agoChrysler, the nation's third-largest automaker, said Friday that it would stop offering leases on its vehicles through its in-house financing arm beginning late next week. The surprise move, the first by a car company, is an alarming indicator of how...
- News Source: The independent | about 1 year agoIts Chrysler Finance arm, which leases rather than sells new cars to customers, is in the process of having to refinance $30bn (£15bn) of debt which is due to roll over next month, but the plunging second-hand value of its vehicles, particularly...
- News Source: Simi Valley - Moorpark Examiner | about 1 year agoChrysler LLC said Friday its financial arm will get out of the auto leasing business by the end of the month because economic conditions have made leasing more expensive than buying, for both consumers and the company. The move comes as Chrysler...
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- Blog Source: www.carfever.netand design studios across Detroit, Chrysler, Ford and General Motors are working to create a new generation... and light trucks become an obstacle for marketers Detroit and ad agencies are trying to come up
- Blog Source: buggy4010.blogs.chatting.comAt last he discontinued the allentown used automobile honda used cars for sale challenged, afterward it was at least another ford mustang old sale 1938 chevrolet coupe for sale it was overhent enough to be used ford pickup truck part. ...
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Image Source: industry.dealer.comA record 107271 Chrysler units ...Image Source: industry.dealer.comA record 107271 Chrysler units have ... -
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Image Source: www.autoobserver.comDETROIT -- Chrysler announced ...Image Source: www.autoobserver.comDETROIT -- Chrysler announced Monday ... -
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Image Source: industry.dealer.com... Motors, Ford and Chrysler)....Image Source: industry.dealer.com... Motors, Ford and Chrysler). -
Image Source: www.carbuyersnotebo...Chrysler Financial announced ...Image Source: www.carbuyersnotebo...Chrysler Financial announced today ...
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Video Source: youtube.comChryslerVideo Source: youtube.com - Video Source: youtube.com2005 Chrysler 300Video Source: youtube.com
- Video Source: www.truveo.comChrysler and Ford Face OffVideo Source: www.truveo.comAt the Detroit Auto Show, automakers unveil their stylish redesigned ...
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- Video Source: xml.truveo.comFord, Chrysler Issue RecallsVideo Source: xml.truveo.comBad news out of Detroit as U.S. auto manufacturers Ford and Chrysler issue ...
- Video Source: www.truveo.comDark day in DetroitVideo Source: www.truveo.comJuly 23: General Motors fell further behind Toyota in sales in the second ...
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