Quote:
Originally Posted by mryan55
It's not really doing much for us. In the last 13 weeks we have used the non-prime incentive a total of one time. The non-prime money usually isn't finance source dependent (although sometimes there are additional Chrysler Capital non-prime programs as well) so it's nice to have, but doesn't come into play much with all of the leasing we do in the Detroit area.
I would say making it a lease program as well would help us, bu that's a bit greedy... not to mention I don't think the house wants to do much more lease subvention.
From the finance point of view, the money does help deals come in with a healthier front end advance, so I guess it has its place... but not a program we use much.
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Interesting, thanks for the information.
I actually would have lost money on that bet. I figured an extra $1,250 on the Journey might be the explanation for its relatively strong sales volume despite its age as a platform.
Concerning leasing, I wonder if any OEMs use leasing as a tool to attract low FICO customers? While leasing historically has been for higher FICO customers I've read some pitches that "Lease here/Pay here" makes more sense than "Buy here/Pay here" because it's easier to repossess vehicles that are not titled in the customers' name and there's no risk of losing a vehicle to bankruptcy like there is if a lender extends financing.