Chrysler Financial Company may start lending again to consumers and dealers after being knocked off of the leaderboard as one of the main lenders in 2009.

According to reports from Automotive News,

Chrysler Financial aims to start with loans to buyers with near-prime credit, said the person, who asked not to be identified because the plans are private. It is also looking to raise capital and considering a name change, the person said. The company has also asked dealers about financing their inventory, said retailers who have been contacted.

This shift in strategy has proven even the president wrong as the company is now benefiting from a rebound in used-car prices, reaching a record high back in May of this year. As it turns out, it is this same collateral from used car sales that may now be able to help Chrysler raise the monies it needs, thus accelerating lending.

Since it went bankrupt back in 2009, Chrysler Financial was replaced by GMAC as the primary lender for Chrysler dealers. Since then, Chrysler has re-collected most of its outstanding payments and loans.

(Via: Automotive News)

Tags: in the news // Add Comment »