Agreement extends Chrysler Capital relationship, reaffirming the mutually beneficial financing partnership
DALLAS – April 27, 2022.
Santander Consumer USA Holdings Inc. (“SC” or “the Company”), which does business as Chrysler Capital, today announced it has reached an agreement with FCA US LLC (“Stellantis”) to amend and extend the Master Private Label Financing Agreement (the “Chrysler Agreement”) through 2025. Under the Chrysler Agreement, which is nearing the end of its original 10-year term, SC has been the FCA US preferred provider for consumer loans, leases and dealer loans. This amendment extends the contract term through December 2025 and updates certain terms to allow SC to serve in a complementary role to Stellantis’ recently launched captive finance company, Stellantis Financial Services US.
“Santander Consumer has served as the primary finance provider for Stellantis since 2013,” said SC CEO Mahesh Aditya. “While Stellantis announced in 2021 the formation of its own captive finance arm, SC and Stellantis have continued to enjoy a mutually beneficial working relationship. We are pleased to formally extend our partnership and look forward to continuing to help Stellantis succeed.”
“Santander Consumer has been a strong partner for Stellantis for many years,” said Stellantis Chief Affiliates Officer Philippe de Rovira. “We are proud to have SC continue as a preferred partner, as we grow Stellantis Financial Services US into a full-service captive lender, offering a wide range of financing options to meet the needs of our customers.”