Chase Auto Finance will hire a separate Maserati North America Inc.-dedicated team for its newly formed partnership with the luxury manufacturer, according to Jagdeep Dayal, business head of auto OEM partnerships at Chase.
“When Chase employees answer the phone, they will answer it as ‘Maserati Capital USA’, and not ‘Chase,’” Dayal told Auto Finance News.
The companies announced on Tuesday the formation of the captive, through which Chase will be the exclusive provider of retail loans and leases for the OEM in the U.S. Chase will also provide commercial lending and treasury services for Maserati dealers.
“What we do in the private-label business is we customize the customer experience to each of our partners’ brands — and no two of them are the same — so essentially we consider ourselves an extension of that specific brand,” Dayal said. “We will provide a customized experience from the time they get a loan or a lease, to servicing — which includes customer service, all the way to lease end.”
The partnership should last for more than two years, Dayal said, noting that the duration is “very much in line with what we usually see with the private-label relationships.”
Maserati sold 2,250 vehicles in the first three months of this year, a 16.6% increase from the same time a year prior. The lender currently provides private-label financing for Land Rover Financial Group, Jaguar Financial Group, Mazda Capital Services, and Enterprise Auto Finance.