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Viknesh Vijayenthiran

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Chrysler replaces leases with new incentive program

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As the U.S. market makes a shift from leasing to retail purchasing, Chrysler has announced that in August it will repackage its incentives to make vehicle purchases more affordable. 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.

Helping achieve the low-finance payments are special retail finance rates and a bonus consumer cash program in which customers can now receive up to $2,000 cash back on some models. Also on offer is zero-percent financing for 72 month deals on the Dodge Ram, Dodge Durango, Chrysler Aspen, Jeep Grand Cherokee and Jeep Commander. However, this applies only for customers with an A-credit rating.

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 also be waived. Anyone who still wants to lease a Chrysler vehicle through an independent financial institution will also receive up to $2,000 of customer cash on select vehicles.