Leasing Through CFC will not be available after July 31st, 2008

Chrysler LLC and Chrysler Financial made the following announcement Today:

The industry-wide economic conditions that made leasing popular in the past have changed, and the pendulum is swinging back in favor of purchasing and financing. Credit is tight and expensive, and residuals are unpredictable. These two factors have made leasing more expensive to the point of not being in our customers’ best interest. Effective August 1, Chrysler Financial will discontinue its lease product offering to focus its resources on retail installment loans. Chrysler's dealers can still pursue lease financing arrangements through other institutions.

Chrysler’s new incentive strategy will create retail finance deals with low payments, typically found only on lease deals. With these deals, customers can get low monthly payments, through Chrysler Financial, with the benefits of ownership. With this strategy, we look to attract more purchase-oriented customers, and shift our lease customers to purchasing and financing.

There will be no impact on customers who already are leasing Chrysler vehicles. Chrysler Financial will continue to support and service current Chrysler, Jeep and Dodge lease and balloon-contract holders.

Going forward, an example of our excellent financing deals includes 0 percent APR for 72 months on Chrysler Aspen, Dodge Durango and Ram, Jeep Commander and Grand Cherokee models.

The industry is changing rapidly, and Chrysler is moving quickly to be in position to take advantage of those changes.

After July 31st, 2008 we will not be able to offer lease programs through Chrysler Financial. If you are returning from a CFC lease and planning to lease again, you are going to need to lease within the next six days. Starting August 1st, 2008 we can still offer you lease programs through other financial institutions. Please contact us for more information.

We will have bigger and better incentives available for conventional financing. For example We NOW have 0% for 72* and 0% for 60** month financing available on 2008 Aspen, Durango, Grand Cherokee, Ram Light Duty Mega Cab and Quad Cab!

* $13.89 per month per $1,000 financed on approved credit through Chrysler Financial.
** $16.67 per month per $1,000 financed on approved credit through Chrysler Financial.