For those that don't know, my brother was working for Chrysler Financial for the past 5 years. They officially closed up shop on 8/27 and he was laid off. All thanks to the feds requiring all Mopar financing to go through GMAC (which I believe the government is part owner of) during the bail-outs. Just another American part of Chrysler that isn't around any longer.
From what my brother told me, over the past year or two a lot of them have already come due or have been repo'd due the poor economy. The remaining loans will be sold to another lender.
Hmmmmmmm I only have like 2 or 3 payments left I hope it doesn't get fucked up cause I pay it all online and the wifes truck also but that's a lease and it goes back in jan
Thanks Ron. He actually might come out to the West Coast to look for work. That will be a big change for that country boy, but he'd be fun to hang out with at the Double Tree.
Sorry to see this happen and for those of you that have Chrysler Financial as your original loan/lean holder you will be fine, it's no different than you mortgage loan getting sold over and over again by Freddie Mae/Mac, you should see the FHA requirements these days its almost impossible to get an FHA loan
adam, while i am sorry for your brother, i am not sorry to see chrysler financial go. those fckers screwed me out of around 500 in late penalties. basically, the story is this, i bought my charger for around 30k in oct 2005, for about a year i set up to automatically pay through my checking account to chyrsler financial 1000 per month on the 18th. chrysler had my payment due on the 1st of each month rather than the 18th of each month. i went through so much paperwork to change my payment date, all of it would blow your mind. after about a year, i found that they were charging me late fees of $25 to $50 dollars each month i was "late". since i was paying so much more than my actual payment on the 18th, these late charges were getting paid with my payment each month. by the time i figured out what was going on and called them, they said there was nothing they could do because they could only refund a late fee 90 days or less from the day i brought it to their attention. needless to say, i paid the car off and was glad to be rid of them. i also wrote up the report of what i went through and sent it off to the BBB.
