Chrysler to Match "Cash for Clunkers" Incentive
 

Chrysler to Match "Cash for Clunkers" Incentive
Chrysler says it will match government's $4,500 'cash for clunkers' trade-in incentive

AUBURN HILLS, Mich. (AP) -- Chrysler Group LLC said Wednesday it is offering $4,500 in cash toward the purchase of a new vehicle as it seeks to match a government incentive for people to trade in their old gas guzzlers.
The automaker said it will offer cash or zero percent financing for six years on most of its 2009 Chrysler, Dodge or Jeep models. The incentive begins Thursday and lasts through Aug. 31.
Chrysler said in a statement that buyers are eligible for the new incentive even if they are not trading in a vehicle under the government's "cash for clunkers" legislation.
That program's final rules will be announced Friday. It offers tax credits to car shoppers who trade in their old, fuel-inefficient vehicles for a cleaner new vehicle.
Not all vehicles qualify under the legislation, however. Car shoppers get a voucher worth $3,500 if they trade in a vehicle getting 18 mpg or less for one getting at least 22 mpg. The voucher grows to $4,500 if the new car's mileage is 10 mpg higher than the old vehicle.
Owners of sport utility vehicles, pickup trucks or minivans getting 18 mpg or less could receive a voucher for $3,500 if their new truck or SUV got at least 2 mpg higher than their old vehicle. The voucher would increase to $4,500 if the mileage of the new truck or SUV was at least 5 mpg higher than the older vehicle.
That means some consumers could, in theory, get up to $9,000 off a new Chrysler vehicle if they trade in and buy the right combination of vehicles. According to the auto Web site Edmunds.com, 16 Chrysler vehicles are fuel efficient enough to qualify a shopper for a tax rebate under cash for clunkers, so long as the trade-in vehicle qualifies as well.
Chrysler emerged from Chapter 11 bankruptcy protection last month under new ownership and is now working to lure back car shoppers in a depressed market. Chrysler sales were down 46 percent for the first six months of the year.
Industrywide sales are down 35 percent.

I think that's great, except Chrysler has so little to offer in fuel efficient vehicles that I don't think it will help them much. I have a Jeep Grand Cherokee that get's 16 mpg, but unless I want a truck or a smaller SUV, it's basically useless. The Caliber and 4 cyl Avenger, only qualify for $3500 and the 6 cyl Avenger doesn't even qualify. A 6 cyl. Charger only gets 21 mpg and doesn't qualify, and unfortunately not much does.

To make matters worse, I'm sure the Challenger will be mysteriously excluded from the Chrysler incentive.

One of the dealers here had an ad in the paper yesterday and while a Charger could be had for as little as $14,999, no mention was made of Challengers. Oh! Also, they listed that well-known gas-saver, the Crossfire, for $22,999.

i got something in the mail from dodge about that today.. the stipulations are the vehicle has to be less than 25 years old of the trade in date. have a mpg of 18 or more and has to be in your name (title/insured) for a year. as far as finding a dodge dealership that will match the price is a different story. bottom line even though chrysler gave them the "ok" to match the trade in. the dealership doesn't have to do it if they don't want too.

whatever happened to the 3k cash back on ALL challenger models that edmunds had posted about a month ago???

so could I trade in my 2003 Dodge Ram Hemi for a a 2009 R/T challenger? I'd get the 3500$ back? Sounds good to me... Does that include the value of the vehicle? Will I be able to get 3500$ on top of the value of my truck? Right? If so I really can get a new challenger sooner than I thought...

Before you make plans to cash in on the "Cash for Clunkers" Program, checkout the regulations covering what cars are eligible.


Cash For Clunkers Fact Sheet
The CARS program is established at National Highway Traffic Safety Administration under the Department of Transportation (DOT). DOT is required to promulgate regulations to implement the program within 30 days. The program will run for one year from the date the regulations are promulgated. The program is authorized for $4 billion which will provide for the purchase of approximately one million new vehicles.

Older Trade-In Vehicles:
* Must be in drivable condition;
* Have been continuously insured to the same owner for at least one year immediately prior to trade-in;
* Manufactured in model year 1984 or later; and
* Have a combined fuel economy of 18 mpg or less.

New Vehicles (divided in to 4 categories) - The mpg values are EPA combined city/highway fuel economy as posted on the window sticker of the new vehicle.

Passenger Cars: New passenger cars with mileage of at least 22 mpg are eligible for vouchers. If the mileage of the new car is at least 4 mpg higher than the old vehicle, the voucher will be worth $3,500. If the mileage of the new car is at least 10 mpg higher than the old vehicle, the voucher will be worth $4,500.

Light-Duty Trucks: New light trucks or SUVs with mileage of at least 18 mpg are eligible for vouchers. If the mileage of the new truck or SUV is at least 2 mpg higher than the old truck, the voucher will be worth $3,500. If the mileage of the new truck or SUV is at least 5 mpg higher than the old truck, the voucher will be worth $4,500.

Large Light-Duty Trucks: New large trucks (pick-up trucks and vans weighing between 6,000 and 8,500 pounds) with mileage of at least 15 mpg are eligible for vouchers. If the mileage of the new truck is at least 1 mpg higher than the old truck, the voucher will be worth $3,500. If the mileage of the new truck is at least 2 mpg higher than the old truck, the voucher will be worth $4,500.

Work Trucks: Consumers can trade in a pre-2002 work truck (defined as a pick-up truck or cargo van weighing from 8,500-10,000 pounds) and receive a voucher worth $3,500 for a new work truck in the same or smaller weight class. Vouchers are limited to 7.5 percent of total funds. There are no EPA mileage measures for these trucks; however, because newer models are cleaner than older models, the age requirement ensures that the trade will improve environmental quality. Consumers can also "trade down," receiving a $3,500 voucher for trading in an older work truck and purchasing a smaller light-duty truck weighing from 6,000 – 8,500 pounds.

so then I could definatly trade my '03 Hemi Ram in for a new one and get the 3500$ for sure then... I'm just wondering about the Challenger...

The “Cash for Clunkers” program apparently is out of money…..let’s see;
The government planned the program…
The government failed to realize how popular it would be (poor planning)…
The government ran the program…
The program had to be stopped…
SURPRISE……..
Oh wait it’s no surprise, it’s a Government run program….and they want us to let them run our Health Care….you have got to be kidding….

Wonder how many people purchased cars that they really can’t afford, because of the temptation brought on by the offer of a nice trade in on old vehicles…no Americans wouldn’t do that….oh wait, that would sound like the mortgage issues brought on by people getting loans for homes they couldn’t afford… (hope I’ am wrong, but the repro man may become very busy in a year or two)

Is there any program that the government has started and administered that actually worked? Time will tell how well this latest program worked for all involved who were able to get into it before it was stopped (6 days into the program)........

Hey Blk... They just doubled the money for the program this morning from 1 billion to 2 billion... Program is still a go!...