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Fiat Chrysler Automobiles’ head of U.S. and Canadian sales says loose credit terms will continue to drive new vehicle sales, even as pent-up demand dwindles in a recovered U.S. economy.

Reid Bigland, 47, who also serves as head of the automaker’s Canadian operations and the North American head of the Alfa Romeo brand, predicted that loan terms would continue to expand.

Bigland told the Automotive News World Congress that extended amortization periods -- stretching to 84 and even 96 months -- are “a very powerful tool to make big-ticket items more affordable.” But he said that while 96-month auto loans are becoming more common in Canada, the U.S. is “still trying to wrap its head around 84-month loans.”



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GOOD OR BAD? Automakers Move Towards Using More 84 and 96 Month Loan Terms

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