Behind the scenes – top pricing enhancements
Chrysler Capital is taking a close look at buy rates in comparison to the market. With a higher cost of funds, we are re-evaluating these costs to better align with the competition in the market. In an effort to be more competitive, Chrysler Capital has made several changes including reducing price in targeted segments. Our improved pricing model, currently being tested, will better align price with risk and return, providing more consistency with deal structure changes.
In addition, President and Chief Executive Officer Jason Kulas recently stated in our third quarter earnings press release, “We are finalizing a strategic agreement with Banco Santander to originate and flow prime and near-prime retail loan assets. This strategy should strengthen our overall relationship with Fiat Chrysler (FCA) and our Chrysler Capital volume, as well as our serviced-for-others strategy.”
Our pricing model changes along with our strategic partnership with Banco Santander will help us become more competitive and continue to serve our FCA US dealers as a full-spectrum lender.
Chrysler Capital is dedicated to our partnership with our FCA US dealers and will keep you updated as more pricing enhancements are implemented.