Deals
Chrysler Joins With Santander to Create Auto-Financing Unit
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Chrysler Group LLC, the automaker controlled by Fiat SpA, agreed to make a U.S. unit of Banco Santander SA its preferred provider for auto loans, replacing Ally Financial Inc.
Santander Consumer USA Inc. will form Chrysler Capital to provide customers with financing to purchase and lease vehicles, Auburn Hills, Michigan-based Chrysler said yesterday in a statement. Chrysler Capital, which will begin operating May 1, will also provide dealers with wholesale loans for buying vehicles from the manufacturer.