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Chrysler Says Zero Percent Will Stay as Long as Interest Rates are Low

September 23, 2002

Chrysler group sales and marketing head Jim Schroer on Sept. 19 told Reuters that interest free financing will continue to be a sales incentive for vehicle makers while interest rates remain low.

“As long as interest rates are low, it's a great incentive mechanism. The consumer gets a great deal, it's not an enormous cost to the manufacturer," Schroer told Reuters following the opening of a new headquarters for DaimlerChrysler's North American financial services unit.

“If the interest rates increase significantly, then you'll see the end of zero percent,” Schroer told Reuters. However, the US economy would have to strength beyond “any reasonable expectation” for interest rates to rise, he added, according to Reuters

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