Chrysler has announced that it will expand its leasing offers to bad credit customers through a new agreement with lender U.S. Bank.
The financial institution will provide customers with several more options when looking to finance a new vehicle at Chrysler. Chrysler currently offers financing through Ally Financial, but is fostering a bit of competition between the two lenders for the benefit of customers.
According to a dealer interviewed by the Detroit Free Press, the new arrangement will be good for both business and those in the market for a vehicle.
“It’s another financing source for us and another vote of confidence in the future of Chrysler,” said Bill Golling, a Chrysler dealer in Bloomfield Hills, Michigan. “It’s good to have a degree of competitiveness between banks.”
The current agreement does not apply to the more popular and newer models, but buyers will be able to seek deals from U.S. Bank on 2010 models like the Jeep Wrangler and Liberty, Chrysler 300 and Town and Country and the Dodge Nitro, Journey, Charger and Grand Caravan.
Ally, meanwhile, will continue to supply car loans and other financing options for prospective buyers at Chrysler dealers.