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Chrysler to Offer New Incentives for Would-Be Lessors

August 06, 2008

AUBURN HILLS, Mich. – As the market makes a shift from leasing to retail purchasing, Chrysler LLC said the company will repackage its incentives to make buying as attractive as leasing. The new strategy includes 72-month finance deals on an expanded range of compact, mid-size and full-size vehicles.

The company said July 25 that it will no longer offer vehicle leasing to customers through Chrysler Financial. The new program includes retail payments similar to 36-month lease payments and lower than previously offered finance payments, special finance rates and up to $2,000 cash back on select purchases financed through the captive lender.

"As part of our annual August model-year clearance, we are leveraging the move from leasing to retail purchases to offer our customers the best deals of the year and make buying as affordable as renting," said Jim Press, Chrysler's vice chairman and president. "We have repackaged our incentive spending typically spent on leasing into retail purchase packages to lower monthly payments on select vehicles, from the Dodge Caliber and Dodge Charger to the Chrysler Town & Country and Jeep Liberty."

Additionally, returning lease customers will receive a Lease Loyalty incentive up to $750 for use toward the retail purchase of an eligible new Chrysler, Jeep or Dodge vehicle. The disposition fee, up to $425, will be waived by Chrysler Financial.

Special deals for August also include the continuation of zero percent APR for 72-month deals on the Dodge Ram, Dodge Durango, Chrysler Aspen, Jeep Grand Cherokee and Jeep Commander. Customers who still wish to lease a Chrysler, Jeep or Dodge vehicle through an independent financial institution can take advantage of Chrysler's Customer Cash Allowance of up to $2,000 on select vehicles.

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