Ram Trucks Coronavirus Financial Relief and New Car Incentives

Jack R. Nerad | May 11, 2020

As is needless to say, the coronavirus pandemic has changed things radically. And that is as true for the auto industry as it is about our daily lives. Instead of a year of economic growth and strong vehicle sales, 2020 has turned into a year of mystery, doubt, and fear. None of those is good for business, and Ram Truck is in the business of providing its customers with comfortable, cost-effective transportation and its employees with good, reliable paychecks.

Ram Trucks Coronavirus Financial Relief and New Car Incentives

In an effort to jumpstart sales that are themselves "sheltering in place," Ram Trucks and its parent company, Fiat Chrysler Automobiles (FCA), has launched the "Drive Forward" campaign designed to support current customers who are struggling and to persuade others to buy new trucks.

The multi-faceted coronavirus car payment plans campaign includes special financing offers and deferred initial payments for new-vehicle buyers, plus a new online buying program that will enable Ram Trucks customers to purchase or lease a vehicle without visiting a dealership.

Ram Trucks Customer Relief Programs - Find the best deals!

Unlike some brands, Ram Trucks doesn't have a single primary source of vehicle financing. Instead, Ram Truck dealers most often rely on Chrysler Capital and Ally Financial to fund many of their car loans and leases, while tapping into other sources, including local banks as well. With so many people out of work or experiencing limited working hours, both Chrysler Capital and Ally Financial are offering several payment relief options to those affected by the situation.

At Ally Financial auto loan customers will be allowed to defer payment for up to 120 days on their existing accounts with permission from the lender. No late fees will be charged, but finance charges will accrue over the period the payments are put in abeyance. To seek assistance with their individual accounts, Ally Auto customers are advised to contact Ally Auto customer care at 1-888-925-2559.

For their customers in need of special help, Chrysler Capital has established a toll-free telephone number to give individual service. Customers who fear they might not be able to make a payment on time can reach a representative by phone at 855-563-5635. Currently, the call volume is high, so the company asks for patience, but individualized service from a loan counselor is available. To help relieve the burden on the toll-free line customers can use self-service payment options through Chrysler Capital MyAccount.

Ram Trucks customers who neither financed their vehicle nor obtained their lease through Chrysler Capital or Ally Auto are advised to contact their lender or leasing company directly if they anticipate payment issues. Many lenders are currently able to assist their customers with various forms of payment relief.

 
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Ram Trucks New Car Incentives - Find the best deals!

Throughout 2020, Ram Trucks has been promoting its line with a wide range of incentive offers. Now the "Drive Forward" initiative adds some new, compelling alternatives to the mix. Well-qualified buyers can get 0% APR financing for terms up to 72 months (0.9% APR for up to 84 months) and deferred payments for up to 120 days on select 2019 and 2020 models.

The just-announced Online Retail Experience (ORE) allows Ram Truck customers to make their vehicle purchase online. Customers can initiate ORE on the Ram Truck national website and then complete the details on a local dealer website. Virtually all aspects of a purchase or lease — vehicle trade-in, credit application, price and payment negotiation, and other details — are all available on computer. Once the transaction is finalized, buyers can arrange to have their vehicles delivered to their homes.

Ram Trucks Factory Closures - Find the best deals!

Ram Trucks are built in a number of temporarily shuttered FCA plants in Michigan and Mexico, while the small ProMaster City van comes from a facility in Turkey. Factories are slowly reopening during the month of May.

All FCA North American manufacturing plants were closed by late March, idling approximately 68,000 manufacturing employees, while Mopar Parts distribution centers, essential to keeping first-responder and commercial vehicles on the road, remain in operation using paid volunteers from their regular staff of workers.

Ram Trucks Economic Outlook & Sales Forecast - Find the best deals!

After a rousing start to 2020, sales in March went into a precipitous decline as the effects of the coronavirus pandemic grew in impact across the country. Restrictions on personal interaction and movement intended to slow the spread of the virus led to the sharp drop. 

FCA sales in the U.S. declined 10% during the first quarter of 2020, contributing to an overall $1.9 billion loss for the company. Due to the rapidly changing situation, FCA spokespeople are not willing to comment on the outlook for Ram Trucks sales or the overall outlook for 2020 calendar-year sales. Reportedly, FCA’s planned merger with PSA Group of France remains in play. If it happens, the combined automakers will be the globe’s fourth largest.

At the start of the year, J.D. Power expected 16.9 million U.S. sales in 2020. The more recent J.D. Power forecast is for 12.6 to 14.5 million sales, depending on the course of the pandemic and economic conditions.

The information in this article is from Fiat Chrysler Automobiles and was accurate as of May 9, 2020. Plans and programs may have changed since that date. Be sure to confirm with your Ram Trucks dealer that offers discussed in this article remain valid.

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