Starting this weekend, Chrysler will sell you the Challenger (or any other Dodge, Chrysler or Jeep) of your dreams, even if your FICO credit score is less than 650. Chrysler has signed an agreement with Santander (owners of Drive Financial, among other companies) to offer credit-challenged customers a new option.
Chrysler’s usual go-to source for vehicle loans, Ally Bank (formerly GMAC) hasn’t moved quickly enough into the subprime arena. Thus, Chrysler was forced to bring in an outside lender to bolster vehicle sales. Chrysler is estimating that this deal may bring in an additional 2,000 sales per month.
Chrysler says that although Santander is now the preferred subprime lender, Ally remains the preferred lender for those customers with good credit scores.
So, what are you waiting for? The Challenger of your dreams isn’t going to drive itself into your garage!