Chrysler finds one way to shutter low-selling dealers

And, without running afoul of state laws bent toward protectionism of auto dealers, either. Starting Jan. 1, dealers could rack up some hefty new fees, specifically dealers holding new cars and trucks that are unsold after more than 360 days. It’s also going to make dealers pay the full balance on vehicles unsold after six months, and is cutting back on a line-of-credit loan program.

Here’s the specifics:

Starting in January, dealers will have to pay 10% a month of the amount they owe on new 2008 cars that are over 360 days old, and 50% of the amount on any new 2009 models that are over 360 days old. Chrysler Financial also will levy monthly charges of: $10 for every new car that is unsold after six months, $15 for cars after 270 days, and $25 for each over 360 days.

So, you want a deal? Go to a Chrysler dealer, and look and ask for a model that’s been on the lot nearly a year. Seriously.

Meanwhile, Cerberus is telling Congress not to single it out just because it’s a private equity company.