Fiat Chrysler Launches 84-Month Interest-Free Loan To Help Grow Sales During The Pandemic
We are only four months into the new decade and the world has already been exposed to a whirlwind of events. The deadly coronavirus outbreak has shaken most normalities of life and rocked the precarious economic climate around the world. The automotive industry is one of the biggest players affected by the pandemic, and the declines in sales for automakers have skyrocketed in the transition from the first to the second fiscal quarter of 2020.
Fiat Chrysler Automobiles launched a new marketing campaign this week called “Drive Forward” which is specifically aimed at stimulating its stagnant sales by providing financial incentives for consumers to purchase a new vehicle from most of its brands.
To kick off, FCA will not offer payments for all Chrysler, Dodge, Fiat, Jeep and Ram automobiles in 2019 and 2020 for 90 days. However, selected vehicles are being offered with another tempting offer: interest-free financing for 84 months.
A spokesman for the FCA said The drive that the following models are eligible for the program:
- 2020 Dodge Durango (except SRT)
- 2019 Dodge Grand Caravan
- 2020 Dodge Grand Caravan
- 2019 alternative trip
- 2020 Dodge trip
- 2020 jeep compass
- 2020 Jeep Grand Cherokee (except SRT / Trackhawk)
- 2019 Jeep Renegade
- 2020 Jeep Renegade
- 2019 Ram 1500 Classic “DS”
- 2019 Ram 1500 “DT”
- 2020 Ram 1500 “DT”
You may notice the lack of performance vehicles that are on offer. FCA says that although it is not possible buy a Hellcat With interest-free financing, you can still benefit from Dodge’s Power dollars Promotion that gives consumers a $ 10 discount on every pony pumped through the powertrain. Dodge Charger, Challenger and Durango are all included in the Power Dollars program.
Chrysler vehicles are also not on offer, although the brand’s range of products are reportedly offered at employee prices. No financial incentives will be offered for Alfa Romeo models as part of this promotion.
FCA is also promoting the ability for customers to safely order their new vehicles from home – this includes doing a trade-in and applying for funding. After purchasing the vehicle, customers can have the vehicle delivered directly to their driveway.
However, online ordering is something that automakers like Tesla have advocated remarkable push back has completely banned the procedure in some states. FCA declares to The drive that while it cannot be sold directly to customers, prospects wishing to purchase a car can complete the process through a dealer online.
It is now clear that it is not difficult for many consumers get an 84-month car loanwhich means interest-free financing could just be the icing on the cake of your proverbial cash cake. However, it is difficult to predict whether these tactics will sustain the lost sales in a bitter economic climate. More than 10 million Americans registered as unemployed in March due to corona-related layoffs and leave of absence, meaning 90 days with no payments may not be enough to get unsettled consumers to do something great financial commitment like a new vehicle.
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