Chrysler Climbs Back Into the Leasing Biz, Has a Lot of Ground To Make Up

Effective tomorrow, Chrysler Group will resume leasing on all 2010 model year Chrysler, Dodge and Jeep vehicles, courtesy of its recent lending partnership with GMAC Financial Services.

"Special" vehicle lease rates through Sept. 30, 2009 will be available on the Chrysler Town & Country, Dodge Grand Caravan, Ram 1500 and Journey, and Jeep Wrangler and Liberty. Current Chrysler Group vehicle owners are also eligible for $1,000 Owner Loyalty Bonus Cash for the lease or purchase of select 2010 vehicles or the purchase (only) of select 2009 vehicles.

In May 2008, leasing accounted for more than a quarter of Chrysler's overall sales. Due to its dire financial straits, the company abandoned leasing in late July. By August 2008, that leasing figure had dropped to just over two percent, and it has hovered close to zero ever since. Consumers who wanted to lease a Chrysler vehicle could (in theory) do so through a third party finance company, but lease terms weren't competitive with Chrysler's rivals.

Chrysler hopes its GMAC partnership, along with its quick exit from bankruptcy, will offer Chrysler, Dodge and Jeep fans the ability to lease with newfound confidence.

Posted by

Joanne Helperin September 17, 2009, 5:00 AM

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Auto Leasing, Automotive Consumer News, Chrysler, Dodge, Jeep, Vehicle Incentives and Rebates