CONFORMED COPY


                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549



                                   FORM 8-K



                                CURRENT REPORT

                      Pursuant to Section 13 or 15(d) of
                     the Securities Exchange Act of 1934



                               October 16, 1998
Date of Report ..............................................................
                      (Date of earliest event reported)

                        CHRYSLER FINANCIAL CORPORATION
 .............................................................................
            (Exact name of registrant as specified in its charter)


State of Michigan                   333-31093                      38-2997412
 .............................................................................
(State or other jurisdiction       (Commission)                 (IRS Employer
 of incorporation)                   File No.)            Identification No.)


                27777 Franklin Rd., Southfield, Michigan 48034
                ..............................................
                   (Address of principal executive offices)


                                                       (248) 948-3067
Registrant's telephone number, including area code...........................


This filing relates to Registration Statement No. 333-31093.






Item 5.  Other Events.
         -------------

         In connection with the proposed offering of Premier Auto Trust
1998-5, Asset Backed Notes, Class A-2, Class A-3, Class A-4 and Class B,
attached as Exhibit 99 are certain materials prepared by Chrysler Financial
Corporation that are required to be filed pursuant to the no-action letter
dated May 20, 1994 issued by the staff of the Securities and Exchange
Commission (the "Commission") to Kidder, Peabody Acceptance Corporation-1,
Kidder, Peabody & Co. Incorporated and Kidder Structured Asset Corporation
and the no-action letter dated February 15, 1995 issued by the staff of the
Commission to the Public Securities Association.


Item 7.  Financial Statements, Pro Forma Financial Information and
         ---------------------------------------------------------
         Exhibits.
         ---------

         Listed below are the financial statements, pro forma financial
information and exhibits, if any, filed as a part of this Report:


         (a)      Financial statements of businesses acquired;

                  None

         (b)      Pro forma financial information:

                  None

         (c)      Exhibits:

                  Exhibit 99


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                                  SIGNATURES



         Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                            CHRYSLER FINANCIAL CORPORATION



Date: October 19, 1998                      By:  /s/ B.C. Babbish
                                                 ------------------
                                                 B.C. Babbish
                                                 Assistant Secretary


                                    - 3 -





                                EXHIBIT INDEX
                                -------------


Exhibit
  No.             Description of Exhibit
- -------           ----------------------

  99              Material prepared by Chrysler Financial Corporation in
                  connection with Premier Auto Trust 1998-5 pursuant to the
                  no-action letter dated May 20, 1994 issued by the staff of
                  the Securities and Exchange Commission (the "Commission")
                  to Kidder, Peabody Acceptance Corporation-1, Kidder,
                  Peabody & Co. Incorporated and Kidder Structured Asset
                  Corporation and the no-action letter dated February 15,
                  1995 issued by the staff of the Commission to the Public
                  Securities Association.



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