Chrysler Spins Lease Withdrawal

Robert Farago
by Robert Farago
chrysler spins lease withdrawal

ChryCo NA Sales Veep Steven Landry tells the media not to worry about the company's exit from the lease business. Cause every little thing's gonna be all right. Here are his four little birdies, verbatim [TTAC comments in brackets].

1) Chrysler's dealers are still able to offer customers lease financing arrangements with other financial institutions, separate from Chrysler Financial. [ED: This on the very same day Chase Auto Finance announced it's withdrawing financing for Chrysler vehicles.]

2) Current vehicle owners, Chrysler employees and retirees with leased vehicles through Chrysler Financial will not be affected by this shift, and the terms of their contract will remain in force. Chrysler Financial will continue to support and service current Chrysler, Jeep and Dodge lease and balloon-contract holders. [So no repo man… yet]

3) Should current lessees purchase their existing lease vehicle, or a new Chrysler, Jeep or Dodge vehicle at the end of their existing lease, Chrysler Financial will waive the disposition fee. Chrysler is also offering a loyalty bonus of up to $750 incremental to most other incentives with the purchase of a new vehicle. Chrysler wants to keep these customers in our family! [when a press release throws a spear (!) you know they're desperate]

4) Chrysler employee lease/company car programs for current and retired salary Chrysler employees, in which vehicles are obtained through the company, are not affected. [translation: our execs will continue to get cheap cars]

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  • Under_the_Bus Under_the_Bus on Jul 30, 2008
    our execs will continue to get cheap cars Yeah like they drive any of their own products.

  • Happy_Endings Happy_Endings on Jul 30, 2008

    I love the Bob Marley references! Think I'll go listen to Exodus now ...

  • 50merc 50merc on Jul 30, 2008

    motownr: "...They lease because they have historically had little need to save for retirement/healthcare, and b/c they can pick up new cars for incredibly low payments. As in trucks for $79/mo; minivans for $100/month, and so on. Kids…meet candy store. Wouldn’t you have a bunch of cars if they were this cheap? In Detroit, workers frequently have tiny houses with a driveways loaded with year old cars." Wow! I knew management was cosseted from the unpleasant aspects of car buying and maintaining, but I didn't realize the working stiffs also got such sweet deals. No wonder Detroit couldn't understand why customers by the many millions felt abused. Ford, GM and Chrysler worked great for those on the inside!

  • Beelzebubba Beelzebubba on Jul 30, 2008

    I can already see the banners now- Chrysler Sebring 4-door, lease for only $499/month for 36 months! As to the #4 statement above- it reminds me of how GM took away all the Cadillacs, Corvettes and SUVs from many execs when the Pontiac Aztek hit dealer lots (then refused to move any further). They forced various levels of execs and middle managers to drive an Aztek instead! Since actual buyers wouldn't touch the Aztek with a 10-foot pole they dumped them off on their own employees and, I'm not kidding, I even remember reading that they were told to look "happy" driving them! =) Chrysler can't sell their crap, so they might as well toss a few to their execs and other corporate staffers...they just might be the only new Chrysler vehicles any of us will see out on the road!