Chrysler Capital has launched a dealer-loyalty program that offers participants longer car loans and lower rates but requires them to get a quote from Chrysler Capital for every customer loan.
The initiative, called the Precision Support Program, was introduced to Chrysler Group dealers last month when Chrysler Capital unveiled Chrysler Capital Consulting.
That's a data-driven service to help dealers increase finance and insurance profits and build loyalty with car buyers, the company wrote in a March 12 letter to Chrysler dealers.
"You told us that a loyalty program is an important part of the trust- and relationship-building process," Chrysler Capital wrote in the letter obtained by Automotive News.
A Chrysler Capital spokeswoman confirmed the letter but declined to comment.
Chrysler Capital is a full-service finance program managed by Chrysler Group and Santander Consumer USA Inc.
A year ago Chrysler Group replaced Ally Financial Inc. with Chrysler Capital as the primary lender to Chrysler dealers and car buyers. Chrysler Capital offers customers subsidized leases and other incentives, such as 0 percent and low-interest loans.