Chrysler Group introduced a new incentive program Wednesday to help it sell more vehicles. The automaker, whose brands include Dodge, Jeep, Chrysler and Ram, is letting buyers postpone their monthly car payments for the first 90 days. The incentive, which expires Sept. 16, is good on all 2011 and 2012 Chrysler Group vehicles, excluding FIAT. Chrysler’s no payments for 90 days deal is in addition to zero-percent financing up to 60 months on most Chrysler, Jeep, Dodge and Ram vehicles.
To take advantage of the new car purchase deal, you must finance your new vehicle through Ally Financial, Chrysler Group’s preferred lender, and it’s only good on car loans up to five years. While these types of deals can be enticing, it simply means that your car payments start three months later than they would without the deal. Chrysler didn’t say if interest would accrue during the 90 days, but Toyota, who currently has a similar deal on some models, also defers interest during its no payments for 90 days incentive.
Mazda is also offering the same no payments for 90 days incentive in August on its entire lineup, but interest accrues during that time. The deferred payment deal is on top of zero-percent financing for up to 60 months. Many other automakers are also featuring interest-free purchase deals in August.
Shop for financing through your bank or credit union before going to the dealership, as sometimes your own financing will save you money compared with a low interest rate or deferred payment automaker financing deal.
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