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Finance

Chrysler Financial Receives $1.5 Billion Loan; Rolls Out New Incentives

January 16, 2009

FARMINGTON HILLS, Mich. – Shortly after receiving up to $1.5 billion in loans from the U.S. Department of Treasury's Troubled Asset Relief Program (TARP), Chrysler Financial rolled out new incentives on select Chrysler, Jeep and Dodge models.

 

The captive finance company said Friday it will now offer zero-percent financing for up to 60 months on 2008 and 2009 model-year Chrysler Town & Country, 300 and 300C, Jeep Grand Cherokee, Commander, Wrangler, Dodge Grand Caravan, Charger, Magnum, Challenger, Ram Pickup and Ram Heavy Duty.

 

"From both a customer and dealer perspective, it is exciting news that the Treasury Department is providing funding to Chrysler Financial," said Jim Press, Chrysler's vice chairman and president. "Now our customers, including those with scores in the 620 range, will be able to apply for affordable loans and our dealers will be more competitive in the marketplace."

 

The automaker is using a new ad campaign, called "Driving America," to market its new financing offer. It will include broadcast, radio, digital and print.

 

"We appreciate the Treasury Department's support and their commitment to increase the availabilitty of financing for customers," said Thomas Gilman, vice chairman and CEO of Chrysler Financial. "This funding will provide us with increased capacity to help Chrysler LLC and our dealers make new loans available to qualified customer and sell more cars and trucks.

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