• Sep 13th 2006 at 6:09PM
  • 18
Anything you can do, I can do better... so sang Bingo and so says DaimlerChrysler to Ford. In the battle for customers, Ford had extended its 0% financing deal to sub-prime candidates for the first time last month. Now Chrysler is doing the same for those clamoring for a Commander. Zero-percent financing options are now available for up to 72 months on the 2006 Jeep Commander and Grand Cherokee, the Dodge Durango SUVs and Chrysler's family of minivans. Chrysler is also offering 1.9% for 60 months and 3.9% for 72 month financing on Dodge Ram pickups.
Chrysler actually put this new plan in place on September 1 and just recently lowered the bar to include people with less-impressive credit ratings in the program. It plans to continue it until October 2. Chrysler said it has seen immediate positive results and that dealers are happy about the change as much as the customers. Although Ford's plan extended to virtually everything in the range except the outgoing Ford GT supercar, Chrysler seems content to use the plan only for it's light and heavy trucks right now.

[Source: The Detroit News]


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  • 18 Comments
      • 9 Years Ago
      GMAC already offered 0% to 60 months on anybody in tier S, A, B, and C... That goeas as low as 600 FICO score... Pretty damn low...
      • 9 Years Ago
      Bad credit can result from other factors than being a deliberate deadbeat.

      My stepdaughter had inadequate health insurance(many people lucky enough to have health insurance find that deductibles and co-pays have risen nearly as fast as premiums, lately).

      The hospital wanted immediate payment. Daughter said she wasn't back to work yet but that she'd start making payments once she could work again.

      Hospital said"Pay in full within 60 days or we'll take legal action."

      Daughter went to a reputable non-profit credit counselor who worked up an extended repayment plan for all of her bills. This plan fell apart because one creditor said "No. I want it how and when I want it or I'll sue."

      Daughter went to a lawyer who recommended Chapter 7. The hospital got nothing!

      Perhaps this was a bit extreme. I'd have gone Chapter 13 and taunted the "pay up or else" bitch over the phone every month the tiny check went out to the hospital from the court. But that's just me.

      I had things go badly for me in court twice and had bad credit for a while afterward.

      Everybody wanted a higher interest rate from me after a divorce in 1987. This despite excellent repayment records with all of them.

      Years later, I lost what I thought was a slam-dunk in my favor in small claims court.

      Some, but not all, creditors jacked up my interest rates despite the fact that the judgment was paid in-full the day it was rendered and was for only a few hundred bucks.

      Most of the jackers were department stores whose cards I signed up for to get my instant 10 or 15% discount on today's purchases and were since languishing in a file folder. The bank card that had a balance was paid off and never used again.

      Some lenders, like GMAC, care only about what you do with them. I wish they were all that way.
      • 9 Years Ago
      It seem like desperate measures for desperate times.
      • 9 Years Ago
      Soo...

      Today: Good news everybody, sales up 10% this month by loaning money to people that every other *sucessful* company has decided it wouldn't be profitable to sell to.

      Tomorrow: Bad new everybody, a higher percentage of people than we expected have defaulted on their loans or declared bankruptcy so we're actually losing money this year. This was even more unpredictable than last year's surprising drop in sales of large gas guzzling SUVs. Our jobs are very hard. Give us a break. We're doing our best.
      • 9 Years Ago
      you spelled ford incorrectly
      • 6 Years Ago
      this is great!
      • 9 Years Ago
      "Bad Credit? No Credit? Chrysler doesn't care either"
      Why should they? After all, they've also had bad credit before!
      ".....and jsut recently lowered the bar to include less-impressive creditors in the program."
      Try JUST recently!
      Not to mention that a creditor is someone to whom you OWE money, not someone to whom you are lending money!
      • 9 Years Ago
      It is my opinion that gas prices are down for numerous reasons. Elections being one of them.
      Is this another?
      • 9 Years Ago
      72month financing....good God. That's a long time to have a liability to pay off. Maybe I just don't like writing checks.

      Anyhow, I just saw a Chrysler/Jeep tv ad. It said "for well qualified buyers". Until an article states the qualifying credit range, its all ambiguous what is "good" or "bad" credit.


      BTW #10. Unless you're making money off your car, don't consider it an investment, or an asset. Credit allows people who don't have $20,000 sitting around to own a car, to get to work and such. Yes, you could argue that used car fits the bill better, but peace-of-mind is worth it.

      Credit ought to be used within reason, I'll agree.
      • 9 Years Ago
      "How could it not work?" asked John Berry, a sales manager at the Hollywood, Fla., dealership. "Just today we had a customer that we would have missed if the new rules weren't in place."

      A single mother of five with subpar credit drove off Tuesday in a new Town & Country minivan because she qualified for the financing deal, Berry said.
      ---------
      Uhhh... It could not work when everyone defaults on their new vehicle.
      • 9 Years Ago
      GMAC is very flexible. Even if you were in bankruptcy, they are only concerned about your payment history with GMAC. They are the only company I know that will finance without hesitation on previous customers with good payment history.

      Stoneman
      http://www.stonemanautoreview.com
      • 9 Years Ago
      Two things are apparent.
      One Autoblog should edit their blogs more carefully and...
      Two This would provide the Autoblog staff less time to worry about what its readers might say!
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