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A few hours ago I was talking with an east coast dealer who had just heard from Chrysler Financial, that they would no longer continue leasing vehicles after Aug 1st.
WOW! TImes are changing.
Resitual values are plummiting making it increasingly risky to offer leases. The question is, what are you chrysler deaiers going to do to fill the void? Is leasing dead, or do you have other banks lined up?
Its increasingly difficult to put deals together these days; customers budgets are pinched with rising gas prices, negative equity is on the rise and confidence in the economy is weak. If your a dealer who was trying to do it right, and support your captive lease programs to keep you customers on the lease cycle you've got to make changes quick.
What are some thoughts from you dealers on the fron line? How will this affect your business and what plans to you have to fill this potential void?