JLR credit continues

Time 7:55 am, August 1, 2008

_asd.jpgEUROPEANS will, from February next year, get finance for Jaguars and Land Rovers from Fiat Group finance.

The switch from Ford’s financial arm is one of the first tangible steps of the Tata-owned company’s split.

Fiat Groupe Automobiles Financial Services – FGAFS – will take up finance provision in the 10 main European markets, providing competitive funding, plus the necessary geographical coverage and specialist automotive knowledge.

FGAFA was selected after a tender process, and will ensure competitive Jaguar and Land Rover branded products remain on offer in dealers.

What does this mean for the UK? Well, Jaguar confirmed to Car Dealer that it would be staying with Ford Finance for the next year. After that, ‘we will be announcing who we will be with once the 12 months is up closer to the time,’ said a spokeswoman.

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