You may recall that leasing was one element among many that contributed to a downward spiral of events leading to Chrysler filing for Chapter 11 bankruptcy earlier this year. The crux of it was that many vehicles were being returned at the end of their leases with a value far lower than what automakers were expecting. The difference between what they thought these vehicles would be worth at the end of their lease and what they could actually be sold for was money out the window.
In addition to the return of leasing to Chrysler dealers (what's left of them), the automaker has announced additional incentives for the remainder of September including up to $4,500 of Consumer Cash or 0% financing for 72 months on select 2009 MY vehicles, up to $3,000 of Consumer Cash on select 2010 MY vehicle and $1,000 of Owner Loyalty Bonus Cash for current Chrysler vehicle owners on all 2009 and select 2010 MY vehicles.
[Source: Chrysler | Photo by Scott Olson/Getty]
Chrysler, Jeep® and Dodge Return to Leasing–Offering Consumers More Financing Options
Auburn Hills, Mich., Sep 16, 2009 -
Chrysler Group LLC today announced it will offer a leasing option for U.S. customers on all 2010 model year Chrysler, Jeep® and Dodge vehicles through Chrysler's preferred lender, GMAC Financial Services. "We are pleased to re-enter the leasing market so we can offer customers the opportunity to lease vehicles at rates competitive with the marketplace," said Peter Fong, President and Chief Executive Officer–Chrysler Brand and Lead Executive for the Sales Organization, Chrysler Group LLC. "Our ability to offer additional financing options will benefit consumers who have long been fans of leasing and appreciate the flexibility this financing option gives them." Effective Sept. 17, 2009, Chrysler, Jeep and Dodge will offer leasing options for all 2010 model year vehicles in the United States. Featured vehicles with special lease rates through Sept. 30, 2009 are:
• Chrysler Town & Country
• Dodge Grand Caravan, Ram 1500 and Journey
• Jeep Wrangler and Liberty
Chrysler, Jeep and Dodge also offer the following incentives, which are valid through Sept. 30, 2009:
2009 Model Year Vehicles: Chrysler Group is pleased to offer 0 percent financing for up to 72 months through GMAC Financial Services or up to $4,500 Consumer Cash on select 2009 model year Chrysler, Jeep and Dodge vehicles.
2010 Model Year Vehicles: On select 2010 model Chrysler, Jeep and Dodge vehicles, limited Consumer Cash of up to $3,000 or attractive financing rates through GMAC Financial Services are available.
Current Chrysler Group vehicle owners are also eligible for $1,000 Owner Loyalty Bonus Cash available to use towards the purchase of select 2009 model year vehicles or the purchase or lease of select 2010 model year vehicles.
Chrysler Group LLC offers consumers 35 Chrysler, Jeep and Dodge vehicles from which to choose at more than 2,300 dealerships located throughout the United States.