Leveraging the strength of both Chrysler Financial and DaimlerChrysler Services Truck Finance, DaimlerChrysler Services on Jan. 26 announced the establishment of a new finance group for the United States market called Business Vehicle Finance. According to DaimlerChrysler Services, the Business Vehicle Finance group brings together the financing expertise of both entities offer Chrysler Group dealers a full range of financing options for their commercial customers.
The new Business Vehicle Finance group is responsible for providing Chrysler Group dealers with custom finance packages for each commercial customer's unique business needs. Other responsibilities, according to DaimlerChrysler Services, include flexible terms, competitive rates and cutting-edge commercial customer service with longer business hours and the ability to expedite the time spent during the application, approval and funding process.
"Business Vehicle Finance is an evolution of our business -- an example of the synergies we're realizing through having more than 30 years of expertise in commercial and vocational financing at DC Services Truck Finance while leveraging the Chrysler Financial sales network to support more Chrysler Group vehicle sales," said Juergen Walker, president and CEO for DaimlerChrysler Services North America.
"Shifting our commercial business to this newly created credit team takes us a step beyond the day-to-day financial processes by providing commercial customers with a dedicated team that understands the complex needs and sophisticated financing requirements of commercial borrowers," said Klaus Entenmann, vice president, Chrysler Financial.
The experts in the Business Vehicle Finance team will help Chrysler Group dealers, who sell vehicles to commercial customers, by providing them with more expertise when considering the customer's business type, cash flow, balance sheets and tax liability. The group will help dealers to structure fleet financing packages, for example skip payments, as well as establish credit lines for commercial and municipal customers and adjust financing to support cash flow and balance sheets, according to DaimlerChrysler Services.
DaimlerChrysler Services says it will facilitate the ease of business by providing a trusted automotive financial partner. In addition, an effective and efficient business environment will be available to all Chrysler Group dealers online through DealerCONNECT.
"Business Vehicle Finance is qualified to conveniently handle and formulate just the right finance plan -- for my small and medium-sized business owners," said General Sales Manager Jim Webb of Bossier Chrysler-Dodge Inc., in Bryan, Texas.
Business Vehicle Finance piloting operations began with 29 Dodge dealers in June 2003 and has currently rolled out services to more than 400 Chrysler, Jeep® and Dodge dealers in the U.S. These dealers can mix and match vehicles for small business owners who need a small fleet of vehicles.
About DaimlerChrysler Services North America LLC
DaimlerChrysler Services North America LLC provides brand-specific financing for automotive dealers' inventories and their retail consumers and does business as Chrysler Financial and Mercedes-Benz Credit. As DaimlerChrysler Services Truck Finance it also finances commercial vehicles for affiliate products such as Freightliner, Sterling and Western Star.
The company serves as the headquarters for the operations in the United States, Canada and Mexico and has more than 5,500 employees who manage a portfolio of $83 billion with nearly five million contracts.
DaimlerChrysler Services North America is a member of the DaimlerChrysler Services Group, headquartered in Berlin, Germany, which operates in 39 countries with an employee base exceeding 10,800 and a global portfolio of $118 billion.