It looks like Chrysler is looking to sweeten the CARS deal. The company just announced a month-long program to spur sales by offering an additional $4,500 for trade-ins regardless of whether or not the old vehicle meets federal requirements for the rebate system. For buyers looking for better financing instead of cold hard cash, the company will make 0 percent APR for 72 months available as well. That mean someone dropping off a vehicle that is eligible for the CARS program may be able to nab up to $9,000 to put toward the cost of a new, qualifying Chrysler vehicle.
According to the Detroit News, Chrysler already has one of the highest rebate costs of any manufacturer out there – averaging $1,300 more per vehicle than its closest rival, General Motors. That may have much to do with Chrysler’s lack-luster small car offerings. That’s something the company’s recent partnership with Fiat is likely to fix, though not until mid-to-late next year.
In the mean time, Chrysler’s making it’s $4,500 incentive program available to all buyers regardless of age or fuel consumption of their trade in. The program should last until August 31st and applies to most 2009 models. See the press release below. [Source: Chrysler]
| Chrysler Group LLC Announces New “Double CA$H For Your Old Car” Incentive Program |
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| Auburn Hills, Mich., Jul 22, 2009 - Chrysler Group LLC today announced new incentives, “Double CA$H for Your Old Car,” that can save consumers up to $9,000 toward the purchase of a new Chrysler, Jeep® or Dodge vehicle.“Everyone shopping for a new car or truck qualifies for an incentive of up to $4,500 – even if they don’t have a vehicle that qualifies under the U.S. Government’s program,” said Steven Beahm, Vice President – Sales Operations, Chrysler Group LLC. “This incentive is great in that it’s easy to understand and available to everyone.”
Beginning July 23, 2009, Chrysler Group LLC will offer up to $4,500 Consumer Cash or 0 percent financing for 72 months through GMAC Financial Services on most 2009 model vehicles. These incentives are valid through August 31, 2009. July 23, 2009 also marks the start of the U.S. Government’s Car Allowance Rebate Systems (CARS) program, more commonly known as “cash for clunkers.” The CARS program offers a government credit of either $3,500 or $4,500 for trading in an inefficient vehicle that is not more than 25 years old for the purchase of a new vehicle. The amount of the credit is determined based on the fuel-economy improvement between the turn-in vehicle and the new vehicle purchased. “The administration’s program is aimed at getting less fuel-efficient vehicles off the road, and for vehicles that meet the requirements, offers a great incentive to do so,” Beahm said. “But we didn’t want consumers without qualifying vehicles to feel left out so we are offering up to $4,500 to everyone.” Chrysler Group offers consumers 35 Chrysler, Jeep and Dodge vehicles from which to choose at almost 2,400 Chrysler, Jeep and Dodge dealerships located across the United States. About Chrysler Group LLC Headquartered in Auburn Hills, Mich., Chrysler Group LLC’s product lineup features some of the world’s most recognizable vehicles, including the Chrysler 300, Jeep Wrangler and Dodge Ram. Fiat will contribute world-class technology, platforms and powertrains for small- and medium-sized cars, allowing Chrysler Group to offer an expanded product line, including environmentally friendly vehicles. |
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