DETROIT (AP) -- Chase Auto Finance says it will stop financing leases for Chrysler vehicles at the close of business on Thursday.
Spokeswoman Mary Kay Bean says the unit of JPMorgan Chase & Co. will continue to make loans for retail sales with Chrysler's dealers. But it will no longer offer leases on Chrysler, Dodge or Jeep products.
Last week, Chrysler LLC announced that its own financial arm would get out of the leasing business by the end of the month.
Bean says Chase wants to keep its lease portfolio small because it is concerned about declining used car values. She says the bank will continue financing leases for other automakers.
