AUBURN HILLS, Mich. (July 22, 2009) — Taking the recently passed “Cash for Clunkers” federal legislation one better, Chrysler Group L.L.C. has launched a “Double CA$H for Your Old Car” incentive, offering consumers up to $9,000 toward the purchase of a new Chrysler, Jeep or Dodge vehicle.
Beginning July 23 and valid through August 31, Chrysler said it will offer up to $4,500 consumer cash or 0-percent financing for 72 months through GMAC Financial Services on most 2009 model vehicles.
The U.S. government's Car Allowance Rebate Systems (CARS) program—commonly known as “cash for clunkers”—also begins July 23, offering a government credit of either $3,500 or $4,500 for trading in an inefficient vehicle that is not more than 25 years old for the purchase of a new vehicle. The amount of the credit is determined based on the fuel-economy improvement between the vehicle being turned in and the new vehicle purchased.
Chrysler Group formed earlier this year after the auto maker emerged from bankruptcy and joined a global strategic alliance with Italy's Fiat Group.