Chase Auto and Maserati Rev Up New Captive
JP Morgan Chase & Co. added luxury car-maker, Maserati North America Inc., to its roster of private-label OEM partners, and formed a new financial brand — Maserati Capital USA, the companies announced this morning.
Chase now serves as the Italian brand’s preferred finance provider, offering retail financing and leasing to more than a hundred of dealerships across the U.S., according to a company press release.
“We are thrilled to team up with Maserati as their financing partner,” said Thasunda Duckett, chief executive for Chase Auto Finance. “Maserati isn’t just any car, it’s an experience. And Chase prides itself on the experience we deliver to customers during every interaction.”
Chase has assigned a dedicated team to deliver services “consistent with the [experience] luxury brand Maserati customers have come to know and love,” according to the release. The lender currently provides private label financing for Land Rover Financial Group, Jaguar Financial Group, Mazda Capital Services , and Enterprise Auto Finance.
Earlier this year, the bank announced a 33% year-over-year increase in loan and lease originations in fourth quarter of 2015, hitting the $9.2 billion mark combined.
