Chrysler Capital Launched as the Full-Service Finance Provider for Chrysler Group Dealers and Their Customers

DALLAS, May 1, 2013 /PRNewswire/ -- Chrysler Capital, the new private-label, full-service lending program of Santander Consumer USA Inc. and Chrysler Group LLC, launched today with a broad spectrum of auto financing services for Chrysler Group customers and dealers. Under a 10-year, private-label agreement announced Feb. 6, 2013, Chrysler Capital operates as a stand-alone company, managed jointly by Santander Consumer USA and Chrysler Group LLC.

Chrysler Capital provides Chrysler, Jeep®, Dodge, Ram Truck, SRT and FIAT customers with competitive retail purchase and lease financing. The new entity, which operates in all 50 states, also provides wholesale financing and related services to Chrysler Group dealers, including lending solutions for dealership construction, real estate, working capital and revolving lines of credit.

Chrysler Capital will make it easier for Chrysler Group dealers to compete with other automakers that turn to in-house financial services subsidiaries to help offer credit to customers and more competitive financing alternatives.

"With today's launch of Chrysler Capital, our customers now have access to the most competitive retail purchase and lease financing in the industry at their Chrysler Group dealerships," said Peter Grady, Vice President of Network Development and Fleet. "Chrysler Capital also is dedicated to providing our customers with the finest, most responsive customer service in the industry."

In addition to providing the services dealers expect from a full-service finance partner, Chrysler Capital will also offer innovations that translate into incremental car sales. In particular, Chrysler Capital's data and technical infrastructure will allow the company to provide consultative services to dealers such as strategic marketing, online and mobile sales tools, and the ability to help dealers match customers with inventory on dealers' lots, based on customers' needs.

"Our top priority is providing best-in-class service to Chrysler's dealers and consumers, while staying true to our entrepreneurial culture and focus on innovation," said Thomas Dundon, Chief Executive Officer and President of Santander Consumer USA. "We have a terrific partner in Chrysler and we are positioned to help them meet and exceed their sales goals."

The processing and funding of finance applications submitted by Chrysler Group dealers has already begun, and Dealer Relationship Managers began calling on all Chrysler Group dealerships in early spring.

Dundon added, "I am confident we have the right team and resources to deliver an extremely valuable finance solution to both dealers and customers."

About Chrysler Capital

Chrysler Capital is the full-service finance provider for Chrysler Group LLC and its dealers. Chrysler Capital (www.chryslercapital.com) provides full-spectrum retail automotive finance; direct-to-consumer lending; plus fleet, lease, floorplan and business lending solutions.

Chrysler Capital is a program of Chrysler Group LLC and Santander Consumer USA Inc. – a unit of global banking leader Banco Santander, a retail and commercial bank, based in Spain, with a presence in 10 main markets. Santander is the largest bank in the euro zone by market capitalization.

Chrysler Capital is headquartered in Dallas with satellite business centers across the U.S. Chrysler Capital is a trademark of Chrysler Group LLC and licensed to Santander Consumer USA Inc.

About Chrysler Group LLC

Chrysler Group LLC, formed in 2009 to establish a global strategic alliance with Fiat S.p.A., produces Chrysler, Jeep, Dodge, Ram, Mopar, SRT and Fiat vehicles and products. With the resources, technology and worldwide distribution network required to compete on a global scale, the alliance builds on Chrysler Group's culture of innovation, first established by Walter P. Chrysler in 1925, and Fiat's complementary technology that dates back to its founding in 1899.

Headquartered in Auburn Hills, Mich., Chrysler Group's product lineup features some of the world's most recognizable vehicles, including the Chrysler 300 and Town & Country, Jeep Wrangler, all-new Dodge Dart, Ram 1500, Jeep Grand Cherokee SRT8 and Fiat 500. Fiat contributes world-class technology, platforms and powertrains for small- and medium-size cars, allowing Chrysler Group to offer an expanded product line including environmentally friendly vehicles.

SOURCE Chrysler Capital