Jeep Coronavirus Financial Rel...

Jack R. Nerad | April 1, 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 brand-new 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 Auto 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!

Starting April 1, 2020, Jeep, in conjunction with other FCA brands, is launching its "Drive Forward" initiative. As key components of the broad initiative, Jeep will offer 24/7 customer support and well-qualified buyers can get zero-percent financing for 84 months and no payments for 90 days on many 2019 and 2020 models.

Jeep is also extending other offers on a regional basis. For example, buyers in some parts of the country can lease a 2020 Wrangler Unlimited Sport for $245/per month for 36 months with $3,995 total due at signing. The 2020 Jeep Cherokee Altitude 4WD is eligible for zero-percent financing for 36 months, plus a $750 cash allowance.

To find the offers available in your area — including the models that qualify for 84-month zero-percent financing and 90-day deferred first payments — go to Jeep.com or contact your local dealer.

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 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!

Approximately 68,000 manufacturing employees across North America are affected by the closures of virtually all FCA plants across the U.S. and Canada. The manufacturing facilities, as well as headquarters operations and construction projects, are intended to remain closed until April 14, dependent upon the various state and local "stay-in-place" orders.

The Mopar Parts distribution centers, which are deemed essential to keeping first-responder and commercial vehicles on the road, will continue to operate with paid volunteers from among their regular staff of workers.

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 has led to an equally sharp decline in auto sales for March, a month that started auspiciously. At mid-month, however, sales began to fall precipitously as fear of the virus plus state and local restrictions on personal interaction led to much less activity.

J.D. Power expects March sales in the U.S. to be 983,000 vehicles, a decline of 493,000 from its pre-virus forecast. The result translates to a seasonally adjusted annual sales rate of 11.2 million versus a pre-virus forecast of 16.9 million. The length of the sales downturn is impossible to predict, and FCA spokespeople we spoke with were not willing to comment on the outlook for Jeep sales or on the overall outlook for 2020 calendar-year sales.

J.D. Power believes auto sales results going forward will be affected by the course of the pandemic itself, vehicle production lost to plant closures, and the legal restrictions on consumer and business activity designed to fight the disease. At the start of April, J.D. Power's 2020 outlook for total vehicle sales is in the range of 12.1 to 14.8 million units.

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