Chrysler’s 90-day No Payments Program: A jolt for the economy?

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Great news for anyone looking to purchase a new Chrysler brand vehicle in the next four weeks. Customers who buy makes from model years 2011 and 2012 (this includes Dodge, Fiat, Jeep®, and Ram Trucks), and finances the purchase through Ally Financial, will receive a 90-day payment-free deal between now and September 6, 2011.The incentive is part of the Detroit-based brand’s Summer Clearance Event and does not apply to leases. Customers who make a purchase will be allowed to defer their first car loan payment until 90 days after the purchase date.The offering couldn’t come at a better time for consumers who need a new car. It arrives on the heels of a Wall Street nightmare. At a time when Americans are hoping that Congress and the federal government will do something (anything) to boost the economy, they may be surprised to learn that Chrysler – the automaker who once depended on us taxpayers – is turning the tables by introducing this enticing offer.Be Car Chic spoke with Ralph Kisiel, who oversees public relations for Chrysler sales and dealers, about the 90-day No Payments Program. He agreed that the timing of the additional offering to the company’s Summer Clearance Event could be very beneficial for consumers who need a new car now but may have financial obligations that would cause them to delay their purchase.“Clearly there’s a lot of volatility in the economy right now, but we hope that this gives the consumer the opportunity to make the purchase now as opposed to having to wait,” said Kisiel. “There are probably dozens of reasons people are putting off a car purchase, but this gives them a three-month window where they won’t have to make their first payment.”In the past year, Chrysler has launched 16 new or refreshed vehicles in its MY 2011 lineup across all brands. Kisiel said that those new introductions have “really resonated with consumers.” The Chrysler 200 “has been doing exceptionally well,” he went on to say, attributing some of that success to the Super Bowl commercial with Eminem.

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This article was written by

Melanie Batenchuk founded Be Car Chic in 2009 as a way to help consumers make smart decisions when buying and selling their cars. Her prior work at the dealership, trade association and manufacturer levels has provided her a deep understanding of the complex facets within the auto industry, making her a leading woman in her field.

There are 2 comments for this article
  1. Matt Keegan at 10:46 AM

    Melanie, this offer can be good for the reasons you have stated. I assume that this offer is on top of other incentives including what is available for the Chrysler Town & Country in my area. That offer reveals zero percent financing for up to 60 months or a $2,000 cash allowance. Time your purchase right and you won’t be making your first payment until after Thanksgiving.

  2. Melanie Batenchuk at 11:18 AM

    Matt – You’re correct. There are additional incentives going on for 2012 MY that could essentially be combined with this offer as laid out in Chrysler’s press release. I think the “catch” of this offer (and I use that term loosely) is that customers have to finance through Ally. With a tight lending market, that may be the only drawback for consumers who want to get in a new car, and fast.