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Ally Financial Becomes Fiat's Preferred Finance Source

October 05, 2010

AUBURN HILLS, Mich. – Chrysler Group LLC has selected Ally Financial to be the preferred financing provider for Fiat vehicles in the U.S. marketplace. Ally Financial will offer retail financing, leasing, wholesale financing, working capital and facility loans, and remarketing services to the new Fiat dealer network.

“This relationship will help dealers fund their new stores and inventory, while giving Fiat customers the opportunity to obtain retail financing through a trusted company,” said Fred Diaz, Ram Truck brand’s president and chief executive officer, and lead executive for U.S. sales.

Chrysler Group is reviewing proposals submitted by dealers who are interested in securing a Fiat franchise. Chrysler Group initially wants to place 165 Fiat dealerships in the U.S. and expects to name its Fiat dealers in October.

“The Fiat 500 is a strategic new entry to the North American market, and we are proud to support Fiat dealers and their customers with financing and related services,” said Tim Russi, executive vice president of North American Operations for Ally Financial. “As the first step, Ally Financial is accepting applications for wholesale credit lines from dealers who are awarded a Fiat brand franchise. At Ally, we know our primary role is to help dealers buy and sell more vehicles.” 

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