Chrysler's "Double CA$H for Your Old Car" Program Ups the Ante
Chrysler Group LLC has announced that they're upping the ante on the Federal government's CARS (Car Allowance Rebate System, also known as "Cash for Clunkers") program by matching it, in a sense.
By declaring their own complimentary program, “Double CA$H for Your Old Car", the currently-in-Chapter-11 company is offering a savings of up to $9,000 toward the purchase of a new Chrysler, Jeep or Dodge.
Starting July 23, 2009, Chrysler Group LLC will be offering up to $4,500 Consumer Cash (or 0% financing for 72 months through GMAC Financial Services) on most 2009 model vehicles—whether you have a qualifying CARS program vehicle or not.
These incentives are valid for a limited time only—through August 31, 2009.
“Everyone shopping for a new car or truck qualifies for an incentive of up to $4,500 – even if they don’t have a vehicle that qualifies under the U.S. Government’s program," according to Steven Beahm, VP, Sales Operations, Chrysler Group LLC. “This incentive is great in that it’s easy to understand and available to everyone.”
The CARS program has the following requirements:
--Your vehicle must be less than 25 years old on the trade-in date
--Only purchase or lease of new vehicles qualify
--Generally, trade-in vehicles must get 18 or less MPG (some very large pick-up trucks and cargo vans have different requirements)
--Trade-in vehicles must be registered and insured continuously for the full year preceding the trade-in
--You don't need a voucher, dealers will apply a credit at purchase
--Program runs through Nov 1, 2009 or when the funds are exhausted, whichever comes first.
--The program requires the scrapping of your eligible trade-in vehicle, and that the dealer disclose to you an estimate of the scrap value of your trade-in. The scrap value, however minimal, will be in addition to the rebate, and not in place of the rebate.
Check out the Federal government's CARS program FAQ page for more information on the program.
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