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GM Canada gone from leasing business
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Posted on
Jul 30 2008 4:04 AM
by
Asif
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Following the lead set by Chrysler Financial in the United States, GM Canada has announced that it will no longer offer leases through its GMAC Financial arm. While Chrysler LLC has not officially cut out lease deals in Canada, dealers up north report that the rates being offered to them are far too high to be feasible. GMAC spokeswoman Gina Proia told Bloomberg, "There's just a lack of funding in that country for lease assets." Both Chrysler LLC and GMAC are owned in part by Cerberus Capital Management LP.
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