Chrysler’s dealers must feel like they can’t catch a break. Low inventory levels along with a lack of new vehicles, nearly 150 dealers haven’t been able to finalize floorplan financing. Since Chrysler Financial no longer exists with the dealer networks, GMAC has stepped in, but to no avail dealers are having a hard time meeting its terms. 85 dealers have been turned down completely, while another 60 or so are trying to secure financing.
GMAC has been asking for more collateral and they are looking for the dealer to alter the lending structure of their mortgages, held by Chrysler Financial. This has begun to send rumors that the Chrysler Financial Group is trying to wind down its operations.
Should the number of dealers fall, this means that the planned closers would be nearly reach 1000, up from its original 789 announced earlier this year.
Photo: AP News
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