Jeep Coronavirus Financial Relief and New Car Incentives

Jack R. Nerad | May 11, 2020

The Jeep brand had enormous momentum going into the month of March with the new Jeep Gladiator midsize pickup truck helping to lead the way. Then the coronavirus pandemic hit, and the momentum that the Jeep brand had built was in danger of hitting a rock face even a Wrangler couldn't climb.

Jeep Coronavirus Financial Relief and New Car Incentives

To counter this, Jeep has launched several coronavirus car payment plans and programs designed to get the momentum revved up again. Its "Drive Forward" initiative, which also extends to other Fiat Chrysler Automobiles (FCA) brands, includes special financing offers and deferred initial payments, but the initiative also includes a bold new online buying program that will enable Jeep customers to purchase or lease a vehicle without ever setting foot in a dealership.

Jeep Customer Relief Programs - Find the best deals!

Jeep primarily relies on Chrysler Capital and Ally Financial to provide funding for leases and new car purchases. Currently, both financial institutions are offering a variety of payment relief options to consumers affected by the coronavirus, and individualized service is available from both lenders. 

Chrysler Capital customers who need help or have questions regarding their accounts can reach a representative by phone at 855-563-5635. Currently, the call volume is high, so the company asks for patience. Customers can also continue to use self-service payment options through Chrysler Capital MyAccount.

Ally Financial auto loan customers will be allowed to defer payments for up to 120 days. No late fees will be charged, but finance charges will accrue. Ally says it will work with customers individually to find solutions tailored to their specific needs. To seek relief, Ally Financial customers are advised to contact Ally Auto Customer Care at 1-888-925-2559.

Jeep owners and lessees who are experiencing financial strain and did not finance their vehicle or obtain their lease through Chrysler Capital or Ally Financial are urged to make direct contact with their lender or leasing company. Many lenders can assist with various forms of payment relief tied to the onset of the virus.

 
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Jeep New Car Incentives - Find the best deals!

Jeep, in conjunction with other FCA brands, launched its "Drive Forward" initiative on April 1, 2020. This program applies to vehicles financed through Chrysler Capital and is currently set to expire on June 1, though Jeep may extend or even enhance the offers beyond that date.

As key components of the broad initiative, Jeep will offer to the well-qualified buyers of most of its models 0% APR financing for 72 months or 0.9% APR financing for 84 months. Plus, Jeep allows customers to defer first loan payments for 120 days on many 2019 and 2020 models. For the Gladiator and Wrangler, the program is different. Jeep is offering employee pricing for these models, saying that saves more than $5,000 compared to the sticker price. Also, payments are deferred for 90 days rather than 120 days. 

In addition to around-the-clock support and special pricing, Jeep has launched a new Online Retail Experience (ORE) that allows customers to complete the entire vehicle purchase process online from home. Through the full-function system, they can transact a vehicle trade-in, apply for credit, receive price and payment estimates, and review service protection plan options. 

Customers may begin the online sales process on the Jeep.com website and then connect with a local dealer to finalize the sale, saving time in the process. Once a vehicle is purchased, consumers can work with participating dealers to have their vehicles delivered directly to their homes.

Jeep Factory Closures - Find the best deals!

Jeeps are made in the U.S., Mexico, and Italy. All Jeep factories were closed due to the COVID-19 pandemic, and in early May are just starting to re-open. By June 1, all Jeep assembly lines are planned to be operational.

FCA is working collaboratively with the United Auto Workers (UAW) and Unifor unions to expand upon the extensive program of cleaning and social-distancing protocols that have already been implemented across all facilities to safeguard employees. The automaker will continue to evaluate health and business conditions and order additional production suspensions as prudent.

Jeep Economic Outlook & Sales Forecast - Find the best deals!

A sharp decline in showroom traffic led to an equally sharp decline in auto sales for March, a month that started auspiciously for Jeep. 

At mid-month, however, sales fell precipitously as fear of the virus plus state and local restrictions on personal interaction led to much less activity. This contributed to a 10% decline in U.S. sales, contributing to an overall $1.9 billion loss for FCA in the first quarter. The automaker’s merger with France’s PSA Group reportedly remains on track, creating the world’s fourth largest automaker when the ink dries.

J.D. Power’s pre-virus auto sales forecast was 16.9 million, but the most recent 2020 outlook calls for total vehicle sales in the range of 12.6 to 14.5 million units.

The information in this article is from Fiat Chrysler Automobiles and was accurate as of May 8, 2020. Plans and programs may have changed since that date. Be sure to confirm with your Jeep dealer that offers discussed in this article remain valid.

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