Chrysler to match GM, Ford incentives

The Chrysler group said Tuesday it will follow the lead of General Motors and Ford Motor Co. by offering zero-percent loans on most of its 2002 model-year vehicles.

The zero-percent offer is good on loans of up to 36 months. The company is also offering 2.9 percent on 48-month loans and 4.9 percent on 60-month loans. Excluded are the high-priced Chrysler Prowler and Dodge Viper, the hot-selling Chrysler PT Cruiser, the redesigned Dodge Ram truck and the Jeep Liberty.

The program, running through Oct. 31, is in addition to another incentive program begun Sept. 22. Under that deal, all customers with Chrysler Financial Corp. retail loans and leases on 2001 and 2002 model year vehicles are given the option to defer payments for 90 days. In addition, Chrysler increased dealer cash from $500 to $1,000 per unit through Oct. 2.

On Sept. 19, GM was the first automaker to offer the zero-percent loans. GM announced the program following Sept. 11 terrorist attacks that rattled consumer confidence and triggered a significant decline in auto sales.

Ford said on Sept. 21 that it was offering a similar deal through a program dubbed "Ford Drives America."

GM, Ford and Chrysler have said that the zero-percent offer will expire Oct. 31.

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