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Old 09-09-2010, 10:35 AM   #1
XDCX
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Default 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?
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Old 09-09-2010, 06:21 PM   #2
MSDealer
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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....
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Old 09-09-2010, 06:25 PM   #3
Txflyer
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They are definitely our #1 source at the moment.
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Old 09-09-2010, 06:31 PM   #4
ohiobuckeyes
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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.
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Old 09-09-2010, 06:43 PM   #5
CL Pgh
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Quote:
Originally Posted by Txflyer View Post
They are definitely our #1 source at the moment.
X-2! Buying fairly well... even on used as mentioned above.
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