09-09-2010, 09:35 AM | #1 |
Administrator
Join Date: Nov 2007
Posts: 14,869
|
Ally finances over 50% of Chrysler's Retail Sales
Yesterday's news about Chrysler's Lease Program with U.S. Bank caused reporters to ask about Chrysler's relationship with their captive, Ally.
I was surprised to read that Ally has financed 52.5% of Chrysler's retail sales so far in 2010. When you factor in cash deals, credit unions and other lending institutions, I thought that number was pretty high. Is Ally a volume source for all dealerships or is it "hit and miss" where they have high loyalty with some stores and low with others? |
09-09-2010, 05:21 PM | #2 |
New Member
Join Date: May 2009
Posts: 24
|
I'm at 75% plus loyalty ever month, mainly because my better credit customers prefer the special APR to the rebate, and I think that I get more used cars financed by sending them a spread of the new. I am a small dealer, but I got 1 D and 1 E tier done last month -- both on used cars -- as well as a customer on a new Kia without a credit score.
Financing is all about finding out what your lenders would like to see, and doing it.... Or going without that lender. I just don't have the volume to keep everyone happy, so I make sure that I feed the ones that I need.... |
09-09-2010, 05:25 PM | #3 |
Senior Member
Join Date: Jan 2009
Posts: 953
|
They are definitely our #1 source at the moment.
|
09-09-2010, 05:31 PM | #4 |
Senior Member
Join Date: Oct 2009
Posts: 606
|
We only send Subvented Customers to Ally on new cars. For used and customers who want the "Consumer Cash" get sent to Huntington National Bank at 3.24% on new and get 3% in revs.
I don't let Ally look at our used vehicles because after I hold 2 points the rate sucks, and Huntington has great rates on used in my state. |
09-09-2010, 05:43 PM | #5 |
Senior Member
Join Date: Oct 2008
Posts: 1,242
|
|
Thread Tools | |
Display Modes | |
|
|
Similar Threads | ||||
Thread | Thread Starter | Forum | Replies | Last Post |
GM reports a 70% increase in retail sales | XDCX | Sales | 2 | 03-03-2011 07:43 AM |
Ally/GMAC Retail financing for OldCo | The StraightShooter | Automotive Discussions | 5 | 11-13-2010 05:04 PM |
AutoNation's Mike Jackson wants OEMs to breakout Fleet and Retail sales | XDCX | Automotive Discussions | 11 | 06-15-2010 11:21 PM |
Chrysler's May Sales Incentives | XDCX | Sales | 7 | 05-05-2010 04:29 PM |
Chrysler's May Sales Incentives | XDCX | Sales | 12 | 04-29-2009 05:21 PM |