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You are currently browsing the Allpar Chrysler, Dodge, and Jeep News news archives for 'Chrysler Financial' tag.
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TD Bank Group of Toronto (formerly Toronto Dominion) will pay $6.3 billion to acquire Chrysler Financial from Cerberus Capital Management. The all-cash transaction includes assets of $5.9 billion and approximately $400 million in goodwill. TD does not intend to issue common equity in connection with this transaction. TD will gain all of Chrysler Financial’s processes [...]
Automotive News reported that Cerberus is trying to sell Chrysler Financial, the former captive lender of the former Chrysler Corporation. The company is reported worth around $6-7 billion, after having repaid $1.5 billion in Treasury loans. In July, Chrysler Financial tried to go back to originating new loans on a large scale, according to the [...]
Chrysler Financial’s executive compensation is no longer subject to review by Kenneth Feinberg, the Treasury’s pay czar for companies that sought refuge under the government’s Troubled Asset Relief Program. A May payment of $1.9 billion from Cerberus Capital Management allowed Chrysler Financial to eliminate the government’s debtor-in-possession loans, freeing it from government oversight. The payment [...]
Chrysler Financial, the former lending source for Chrysler, Dodge and Jeep dealers, is considering a return to its former business. It’s also considering a name change, much as GMAC has done in changing its name to Ally. According to Automotive News, the company wants to start making loans to consumers with near-prime credit and has [...]