GMAC to replace Chrysler Financial...

[Martin]

Very interesting - Obama just announced that no more money will be put into Chrysler Financial and GMAC will take over its financial services to car buyers and dealers. That's rather interesting...

 

[JonB]

I hope you redeemed your DODGE VISA REWARDS as I warned here ......

http://forums.viperclub.org/general...s-up-dodge-chrysler-rewards-visa-holders.html


The GM program ***** vs the Chrysler program

 

[Martin]

I hope you redeemed your DODGE VISA REWARDS as I warned ......

The GM program ***** vs the Chrysler program

Amen to that. I'm really curious to hear how the Chrysler Extended Warranty program is going to be affected. I've heard conflicting things about who owns and operates it now. One source says that Chrysler LLC is the owner and administrator, and another source tells me that Chrysler Financial provides the coverage. If it's Chrysler Financial, will GMAC then take over the coverage? Strangely, I've recently heard of people buying Chrysler Extended Warranties to cover GM cars, and vice versa - so maybe it will be a seamless transition if CF is the administrator and has to pass them over? I'm a little confused now...

 

[Bill Pemberton Woodhouse]

I will try to check, but if I remember correctly the Extended Service Contracts are done by an outside , contracted Insurance source, so should not even be a concern.

 

[Bill Pemberton Woodhouse]

PS - Since Cerberus owned both Chrysler Financial and GMAC, many thought they would be blended together clear back at the initial purchase, so this really isn't much of a surprise. Sure would be more efficient to run it all through one financial entity than two.

 

[Martin]

PS - Since Cerberus owned both Chrysler Financial and GMAC, many thought they would be blended together clear back at the initial purchase, so this really isn't much of a surprise. Sure would be more efficient to run it all through one financial entity than two.

True - but what I think is really interesting about this is that GMAC will also finance Chrysler dealer inventory. GMAC is pretty far from being owned by GM these days, but from an old timer's perspective, having GMAC finance floorplan seems bizarre...

 

[viperdrummer]

Many warranties are actually written by 3rd partles as stated --plus usually one of the things the lawyers go in and try to protect in bankruptcy are the warranties--but who knows? With 3 extended plans I hope they are good.

 

[adamlotus]

i wish chrysler fiancial would do an early buy out on my lease

 

[redtanrt10]

True - but what I think is really interesting about this is that GMAC will also finance Chrysler dealer inventory. GMAC is pretty far from being owned by GM these days, but from an old timer's perspective, having GMAC finance floorplan seems bizarre...

Today Chrysler financial send a letter to all their dealers stating that they have ceased floorplanning effective today, until further notice. If your waiting on an inbound car your dealer has to pay cash unless floorplanned somewere else.

Martin, to most dealers GMAC won't be bizarre, GMAC will be survival.

 

[adamlotus]

this means many many dealerships will shut down in months to come