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 purchasing a vehicle more affordable than ever.
The new strategy includes 72-month finance deals on an expanded range of compact, mid-size and full-size vehicles. The program creates retail payments similar to 36-month lease payments, and lower than previously offered finance payments. With these new incentive offers, customers can get lower payments with the benefits of ownership.
To help achieve the lower finance payments, there will be special finance rates and a bonus consumer cash program in which customers can receive up to $2,000 cash back on select retail purchases when financed through Chrysler Financial.
Chrysler is able to achieve this by repackaging incentive resources from leasing to retail. The company said July 25 that it will no longer offer vehicle leasing to customers through Chrysler Financial its captive financing division.
"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 re-packaged 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. With the model year ending on 2008 vehicles, the time to buy has never been better."
Returning lease customers will receive a Lease Loyalty incentive up to $750 for use towards 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.
For those customers who still wish to lease a Chrysler, Jeep or Dodge vehicle through an independent financial institution, they can take advantage of Chrysler's Customer Cash Allowance on select vehicles up to $2,000.
Chrysler also announced its "Shop 'Til You Drive Sales Event" sales promotion campaign consisting of new television ads, radio spots, a new national print campaign and Internet promotions. The campaign is intended to substantially increase awareness and consideration levels of retail purchases, offering lower monthly payments among the Chrysler, Jeep and Dodge brands.