The auto leasing business has taken some hits over the last few months, with Chrysler even completely abandoning the segment. The shaky economy will undoubtedly lead to some more changes within the industry, with the latest changes occurring over at Mazda .
Mazda has announced that it will no longer be using Ford Motor Credit as its main source of financial credit. However, instead of completely exiting the finance business, Mazda will be switching to Chase Auto Finance.
Chase will be providing Mazda with both retail and lease programs, according to Automotive News. “This action has mutual benefits in the tough business environment and tight credit markets that are challenging the entire industry,” Mazda CEO Jim O’Sullivan said.
Customers currently financing a Mazda vehicle though Ford Credit will continue to use the Michigan automaker’s financial arm.
Despite the switch, there will be no change in Mazda’s relationship with Ford. Ford owns 33.4 percent of Mazda.
