Friday morning, your 1987 Ford Windstar could be worth $4,500 toward the purchase of a new, more fuel-efficient car. Or $9,000, if your new car is built by Chrysler.
The federal government's Car Allowance Rebate System (CARS), the so-called ‘Cash for Clunkers' program, launches Friday. Chrysler is marking the occasion with a new incentive tied to the program. The AP explains, "Chrysler says it will match the $4,500 government incentive for people to trade in their old gas guzzlers for new vehicles under the ‘cash for clunkers' program. The automaker announced Wednesday that it will offer up to $4,500 cash or zero percent financing for six years on most of its 2009 Chrysler, Dodge or Jeep models."
Buyers should note that Chrysler is not offering the full $4,500 credit on all models. Some models only qualify for a $3,500 credit, and some models get no credit at all.
How does Chrysler's offer work? Automobile Magazine explains, "Simply put, it's a typical incentive. As Chrysler says, any customer--even those with vehicles ineligible for the CARS rebate program--can receive a $4500 bonus with the purchase of a new 2009 Chrysler, Jeep, or Dodge product. Customers can opt for zero-percent financing for 72 months through GMAC instead."
Big incentives from Chrysler are hardly big news. The Detroit Free Press notes, "The Auburn Hills automaker already has the highest incentive costs of any automaker in the U.S., spending an average on $4,873 in June, according to Edmunds.com. That was more than $1,300 than the second-highest incentive spender, General Motors Co., which averaged $3,566 last month." But some analysts had expected automakers to dial back incentives now that the government is providing its own.
A few vehicles aren't included in Chrysler's offer. Automotive News notes, "Vehicles not included in Chrysler's offer are the Jeep Wrangler, Dodge Challenger and Sprinter and all SRT products.'
Chrysler's incentive program begins tomorrow, and ends August 31. Details are available on our Chrysler Deals page. The CARS program begins Friday and ends November 1, or when the $1 billion congress has set aside for vouchers is exhausted.
If you're interested in the Cash for Clunkers program, check out our Cash for Clunkers page. If you already know which car you want, you can contact local dealers here. For the latest news on the program, check out Cash for Clunkers news.
