Chrysler Plans No-Interest Loans, Employee Pricing (Update1)
By Mike Ramsey
Jan. 22 (Bloomberg) -- Chrysler LLC, the third-largest U.S. automaker, will offer no-interest loans, rebates of as much as $6,000 and price discounts normally given only to employees to help clear out unsold vehicles at its dealerships.
The incentives start Jan. 26, with employee pricing offered on all models, the Auburn Hills, Michigan-based company said in a statement. Dealers were told of the plan in a conference call today, said Mickey Anderson, owner of Performance Automotive Group in Omaha, Nebraska.
Chrysler has been stepping up incentives since its finance arm, Chrysler Financial, received a $1.5 billion U.S. government loan on Jan. 16. That day, the automaker announced interest-free financing for as long as five years on 11 models. Chrysler’s U.S. sales plummeted 30 percent in 2008, including a 53 percent decline in December.
Company President Jim Press said on Jan. 11 that Chrysler’s December sales were 25 percent lower than they would have been because customers didn’t have adequate access to credit.
The no-interest loans from Chrysler Financial will be for as long as four years, the automaker said. The rebates include as much as $6,000 on 2008 vehicles and up to $3,500 on 2009 models.
Customers also can get $1,000 in extra cash when the vehicle is financed through Chrysler Financial or a local credit union, Chrysler said.
To contact the reporter on this story: Mike Ramsey in Southfield, Michigan, at [email protected]
Last Updated: January 22, 2009 18:10 EST
Bold is mine. It says "EP all models" which would mean 2009 Vipers too! "The Time Is Here to Buy a new VIPER! " I guess we'll find out more details MONDAY if dealers just heard today.
{No, not OUR Mike Ramsey in CA!)
By Mike Ramsey
Jan. 22 (Bloomberg) -- Chrysler LLC, the third-largest U.S. automaker, will offer no-interest loans, rebates of as much as $6,000 and price discounts normally given only to employees to help clear out unsold vehicles at its dealerships.
The incentives start Jan. 26, with employee pricing offered on all models, the Auburn Hills, Michigan-based company said in a statement. Dealers were told of the plan in a conference call today, said Mickey Anderson, owner of Performance Automotive Group in Omaha, Nebraska.
Chrysler has been stepping up incentives since its finance arm, Chrysler Financial, received a $1.5 billion U.S. government loan on Jan. 16. That day, the automaker announced interest-free financing for as long as five years on 11 models. Chrysler’s U.S. sales plummeted 30 percent in 2008, including a 53 percent decline in December.
Company President Jim Press said on Jan. 11 that Chrysler’s December sales were 25 percent lower than they would have been because customers didn’t have adequate access to credit.
The no-interest loans from Chrysler Financial will be for as long as four years, the automaker said. The rebates include as much as $6,000 on 2008 vehicles and up to $3,500 on 2009 models.
Customers also can get $1,000 in extra cash when the vehicle is financed through Chrysler Financial or a local credit union, Chrysler said.
To contact the reporter on this story: Mike Ramsey in Southfield, Michigan, at [email protected]
Last Updated: January 22, 2009 18:10 EST
Bold is mine. It says "EP all models" which would mean 2009 Vipers too! "The Time Is Here to Buy a new VIPER! " I guess we'll find out more details MONDAY if dealers just heard today.
{No, not OUR Mike Ramsey in CA!)
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Good thing they are protecting their value and not the freakin Viper!!!!!
