Chrysler on the verge of paying off its debt

Chrysler on the verge of paying off its debtLike many of its customers who are in search for bad credit car loan, Chrysler has endured its own financial hardships.

Chrysler was in the worst condition of the Detroit-based automakers when the government bailed out the Big Three in 2009. However, the manufacturer has pulled off a remarkable comeback, and it may even pay back its high-interest loans as soon as next month, according to The New York Times.

Anyone who has ever payed off a used car loan understands the relief that comes with getting out of debt. It speaks volumes about one's credibility as a consumer – or in Chrysler's case, a company. On Thursday, Sergio Marchionne, the CEO of the Chrysler-Fiat merger, announced that his organization will eliminate its debt by selling new bonds to investors, then paying back the U.S. and Canadian governments.

This recent announcement may prompt some individuals to consider Chrysler when they are shopping for a new vehicle. One major sticking point for consumers who are reviewing car loan rates is the safety and dependability of a car.

According to, Marchionne launched a redesign of all vehicles in the company's Chrysler, Dodge, Ram and Jeep lineup to ensure better quality for consumers. These changes may be of interest to people who are in the process of securing a car loan.