Chase Auto Renews Private-Label Deal with Jaguar Land Rover

Nearly a year before the deal was slated to expire, Chase Auto Finance and Jaguar Land Rover North America have renewed their five-year private-label financing arrangement. In the past four years, Chase Auto has financed more than 120,000 Jaguar and Land Rover customers.

The earlier talks enabled the pair to “have good business conversations and explore different areas that we both wanted to improve,” Chase Auto CEO Marc Sheinbaum told AutoFinanceNews.net.

Besides, it’s better to get ahead of expiring contracts, Sheinbaum said, rather than wait until the last minute and be pressured. “Jaguar Land Rover has great growth plans, and you don’t want the uncertainty of losing the finance partner,” he said. “And from our standpoint, we thought the relationship was great, and we don’t like uncertainty, either.”

Jaguar Land Rover, owned by Indian automaker Tata Group, sold 55,675 vehicles in the U.S. last year, up 11% from the year prior. Land Rover sales were up 15%, while Jaguar sales were down 2%.

“With combined sales of over 55,000, 2012 has proven to be a pivotal year in the positioning of Jaguar Land Rover in North America,” said JLRNA President Andy Goss in a statement earlier this year. “With the introductions of the all-new Range Rover, expanded powertrain offering for the Jaguar line up, including all-wheel drive arriving in showrooms in January, and the Jaguar F-type, we will go into 2013 with an opportunity to grow these two brands and our business in this market.”

A dedicated Chase Auto team manages retail, lease, and floorplan offerings for the 300 Jaguar Land Rover dealers nationwide.

Chase Auto also serves as the private-label financier for Subaru of America Inc. ― an alliance that was renewed in 2011 ― and for Mazda North America ― a deal inked in 2010. It provides subvented financing for Aston Martin, too.