Car sales in the U.S. flat-out suck
right now, and both domestic and Japanese automakers are feeling the pinch. Chrysler
posted a 13.2% decline in its Daily Sales Rate last month while offering 0% financing, so the Auburn Hills-based automaker has little choice but to continue offering free loans in an effort to stop the bleeding. Current deals include five years at 0% for 2008 models and six years for leftover 2007 models. Chrysler is also dealing with folks with less than perfect credit, which is a risky move with credit restrictions so tight right now.
Beyond money for nothing, Chrysler is also looking into further production cuts to keep dealer
inventory in check. It's also cutting labor costs by offering buyouts to workers to shed its army of industrial storm troopers by up to 10,000. Times are tough right now in the auto industry, but if you're in the market to buy a new car
, 0% appears to be making a comeback
[Source: Automotive News
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