/ Chrysler, News / Chrysler’s Santander Unit to Speed Financing Approvals

Chrysler’s Santander Unit to Speed Financing Approvals

Linked In Share
Chrysler’s Santander Unit to Speed Financing Approvals

Chrysler announced that its financing partner, Banco Santander, plans to reduce the four-hour industry average time for approving a vehicle purchase.

Santander Consumer USA will create the Chrysler Capital service to finance purchases and leases for cars and light-trucks and offer customers the possibility to use a full online approval process before they visit a dealership, according to Peter Grady, Chrysler Group’s vice president of dealer network development and fleet operations.

“That’s a big dissatisfier for a consumer,” Grady said of the financing approval process. “It’s all explainable, but it’s got to change. Chrysler may seek to cut the time in half. You’ve got to have those crazy, audacious goals.”

This month Chrysler announced it will let the agreement with Ally Financial expire on April 30th and then, from May 1st, it will begin cooperating with Banco Santander, its new lending partner for the next 10 years. The US automaker said that it chose Santander mainly because of its expertise with automated decisioning, which means that data modeling is being used to speed up the process of loan applications and to set appropriate terms for the person who borrows.

” Santander Consumer USA does that today, in the subprime space,” Grady said. “There are certain things that they know that make them take a little bit more risk and approve more deals because they mine the data.”

by Ana Cezara Savin (my Google+) - Monday, February 11th, 2013 - filed under Chrysler, News. Image credit: .
Linked In Share
Related Articles
banco santander Chrysler financing approval time


Discuss: Chrysler’s Santander Unit to Speed Financing Approvals

Leave a Reply















Inautonews Facebook PageInautonews RSS FeedInautonews TwitterInautonews Youtube Channel

Sign up to receive our email newsletter on your email. It's safe. No spam!

Alonso responds to rumours about future
Alonso responds to rumours about futureSep.2 (GMM/Inautonews.com) Fernando Alonso has responded to speculation he could be about to turn his back on Ferrari. The ...
VW sales in India serve as warning for other European carmakers
VW sales in India serve as warning for other European carmakersWith sales more than doubling in 2011 for Volkswagen in India, it looked like the automaker’s plan was going in the right ...
French car sales drop in August
French car sales drop in AugustThe main automotive industry association in France announced this Monday that the country's car sales slid 3% in August, ...
Report – Alfa Romeo gets ready for massive production
Report – Alfa Romeo gets ready for massive productionAlfa Romeo has begun developing three new models seen as key elements to the auto brand’s turnaround. The triple move from Alfa ...
Rich tech gurus and their sweet rides
Rich tech gurus and their sweet ridesThe Silicon Valley force is also showed in the parking lot. Yes, no matter how smart, powerful or wealthy, nothing screams ...
Privately owned cars could disappear from Helsinki
Privately owned cars could disappear from HelsinkiA number of cities around the world are taking steps to reduce or limit the growth of privately owned vehicles numbers on the ...
Super material could dramatically increase Tesla cars range
Super material could dramatically increase Tesla cars rangeThe highly coveted luxury electric sedan from Tesla – the Model S – boasts an impressive range for the segment – the EPA ...
Tesla’ s 5 states bid high for its new battery factory
Tesla’ s 5 states bid high for its new battery factoryTesla has been long planning the $5 billion plant to make batteries for its new generation of electric cars. The massive scale ...
Peugeot to cut jobs at its Sochaux plant
Peugeot to cut jobs at its Sochaux plantPSA Peugeot Citroen will cut 300 jobs at its Sochaux factory in eastern France because it wants to reduce the plant's output. The ...
Report – Thailand to approve Volkswagen factory
Report – Thailand to approve Volkswagen factoryAccording to a German newspaper's report, Thailand is set to give the green light to the construction of a Volkswagen plant near ...
China will not force foreign car parts makers to form local joint ventures
China will not force foreign car parts makers to form local joint venturesThe European trade body in China said the Beijing government does not plan to force foreign auto parts suppliers to form local ...
Spanish car sales up 14% in August
Spanish car sales up 14% in AugustSales of new cars in Spain have gone up 14% in August to 45,355 units. The advance represents the 12th month in a row of ...
BMW plans six front-wheel drive models by 2017
BMW plans six front-wheel drive models by 2017The new UKL1 MINI platform is also used to underpin new models from the BMW brand. Because of cost cutting, the German premium ...
Aston Martin taps Nissan boss Andy Palmer as new CEO
Aston Martin taps Nissan boss Andy Palmer as new CEOFollowing a Financial Times report that the Japanese automaker’s executive has moved from Nissan to Britain’s 101-year-old ...
[Video] Cristiano Ronaldo shoots footballs at Jenson Button’s McLaren 650s
[Video] Cristiano Ronaldo shoots footballs at Jenson Button’s McLaren 650sFamous football (soccer if you live in the US) star player Cristiano Ronaldo and equally famous Formula One driver Jenson Button ...
Read more automotive news


2013 Frankfurt Motor Show Live Images

Spy-Shots of Cars
Spy-Shots of Cars
Spy-Shots of Cars
Spy-Shots of Cars
Jaguar-Mark-2-Ian-Callum
Mopar provides Sportsman racers at the NHRA U.S. Nationals in In
BMW M4 Convertible 001
MIsha_Mercedes_SLS
2015 Chevrolet Tahoe hands-free power lift gate.
2015_buick_envision
VW_Eos_final
2015_toyota_tundra_TRD_pro

More automotive from inautonews
With sales more than doubling in 2011 for Volkswagen in India, it looked like the automaker’s plan was going in the right direction, that of becoming the global vehicle sales leader. Analysts predicted India would overtake Germany to become the world’s fourth largest auto market by 2015 with a ...
read more
Inautonews Editors Section
Can Ricciardo do a Prost ’86?
Can Ricciardo do a Prost ’86?For the third time this season, Mercedes faltered in their 1988-esque campaign and there’s only one man ready to pounce whenever opportunities ...
Test Drive – Mercedes-Benz E250 CDI 4Matic
Test Drive – Mercedes-Benz E250 CDI 4MaticDaimler’s passenger cars division – which consists of the Mercedes-Benz and Smart brands – has vowed to recover the distance from its German ...
Top 10 Ferrari F1 drivers No.2 Alberto Ascari
Top 10 Ferrari F1 drivers No.2 Alberto AscariLike his father he was so fast, sometimes perhaps too fast. In pure natural speed and car control no driver could hold a candle to Alberto Ascari in ...

Editors Section
Inautonews Editors Section
2012 Safest Cars list 2011 Safest Cars [Video] 2011 IIHS Safest Cars [Video] 2011 EuroNCAP Safest Cars 2010 Safest Cars [Video]

Latest in Safety Recall roundup: Suzuki Kizashi for spider problemsSuzuki has announced a recall for the Kizashi models because of spider problems which seem to love ... Australian recall roundup: Jeep Grand Cherokee for rear blinkers issueThe North American based automaker Jeep has recently announced a recall for several Grand Cherokee ...
Safety Section