What's the best way to get aging automotive inventory off dealers' lots? Incentives. And that's part of the reason behind Chrysler's latest offer, which allows buyers to avoid making a payment on their new vehicle for a whole 90 days.
All 2011 and 2012 Chrysler, Jeep, Dodge, and Ram truck models financed through Ally Financial are fair game to anyone who qualifies for the program. Customers can take a loan up to 60 months.
The full list of incentives doesn’t stop there. Customers are also eligible for $500 rebates on 2012 models of the Chrysler 200, Dodge Avenger, Dodge Journey, and Ram pickups (an additional $1,000 bonus is available for 2012 Ram trucks). Jeep is offering a $1,000 rebate for eligible car buyers purchasing a 2012 Jeep Liberty.
Effective immediately, the 90-day no payment plan is part of Chrysler’s Summer Clearance Event, which ends Sept. 6. Check with any dealerships under the Chrysler umbrella for more details.
Industry-wide, the incentive bandwagon seems to be loading up. Hyundai, one of the pioneers in these types of programs, offers its Assurance program that protects customers against low residual values when trading in their vehicles down the road. Although heavy rebates and incentives traditionally were seen as a sign of desperation and excess production, in the light of the dramatic developments in the auto industry in the last several years, their return could arguably be seen as a sign of a return to health and normalcy for the market.