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September 17, 2009

US: Chrysler dealers offer leasing again

Chrysler dealers in the United States are again offering leases after a 13-month break; this time through GMAC Financial Services rather than Chrysler Financial.

Chrysler dealers in the United States are again offering leases after a 13-month break; this time through GMAC Financial Services rather than Chrysler Financial.

The automaker ended leasing on 1 August 2008 saying: “The industry-wide economic conditions that made leasing popular in the past have changed, and the pendulum is swinging back in favour of purchasing and financing. Credit is tight and expensive, and residuals are unpredictable. These two factors have made leasing more expensive to the point of not being in our customers’ best interest.” It referred potential lease clients to other financial firms.

Today, GMAC president Bill Muir said leasing was on again at Chrysler dealerships.

“As the preferred financial services provider for Chrysler, we are also pleased to support a lease promotion… for its dealers and their qualified customers on select models,” he said in a statement.

The company said that it had aimed its SmartLease at customers who wished to rotate vehicles more frequently without the need for trade-in or resale.

Chrysler itself said it would offer leases on all 2010 model year vehicles.

It is offering promotional lease rates until 30 September on some models and is also trying to lure buyers with 0% finance and US$1,000 discounts.

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