DETROIT — Chrysler Financial is no longer offering auto loans as dealers begin shifting to a new loan provider as part of Chrysler LLC’s bankruptcy process.
Dealers who were briefed by Chrysler Financial said the lender halted consumer loans as GMAC LLC, the finance arm affiliated with General Motors Corp., begins e-mailing applications to dealers.
Chrysler said Thursday that it was planning to fold Chrysler Financial into GMAC as part of its reorganization process. Cerberus Capital Management LP, Chrysler’s former parent, has sizable stakes in GMAC and Chrysler Financial.
The change may make it more difficult for Chrysler dealers to sell vehicles for at least the next few days until they can move to a new lender, said two of five dealers who were interviewed.
