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Old 05-06-2014, 10:12 AM   #16
XDCX
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Originally Posted by mryan55 View Post
My newest pet peeve (over the last year or so that Santander has been trying to lease cars via Chrysler Capital) is that funding departments, buyers, sales reps all have no idea about leasing... maybe that is unique to the Great Lakes BC Chrysler Capital staff, but getting a lease funded even when all I's are dotted and T's crossed is like pulling teeth sometimes.
That's interesting - I still remember the days when leasing was huge in the GLBC because there were so many people who qualified for the Employee Purchase Program and there were lease programs that made the deals even more attractive.
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Old 05-14-2014, 07:15 PM   #17
mryan55
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Leasing is still huge in all of the GLBC thanks to Employee Purchase (other than the Louisville, Lexington, and Kentucky Teleservice districts where leasing is usually single digits because of perception, not because their tax code is any different than Michigan, Ohio and Indiana).

And the lease deals with EP are phenomenal... take an additional ~5% discount over a 24-27 month term and voila -- you have the recipe for a bait-and-switch $49/mo lease. Haha.

The problem is that the Chrysler Capital underwriting and funding departments are so disjointed and 100% Santander, not Chrysler, that their lack of experience shows through.

The two Santander/Chrysler reps have car business experience, one as an F&I manager and the other as a rep with GMAC, but whatever their backgrounds are, they must have not had a lot of personal experience with leases.

Things are improving, but funding is still very difficult sometimes, simply because the lease programs change several times each month, so funding never knows what program was current on what date.
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