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Ringo64

RSS Dodge offering novel 1-year lease on '14 Challenger and Charger models

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Filed under: Car Buying, Coupe, Sedan, Marketing/Advertising, Dodge, Earnings/Financials

2014-Dodge-Challenger-and-Charger.jpeg

Dodge is just days away from unveiling refreshed versions of the Charger and Challenger at the 2014 New York Auto Show, models promising updated styling and new powertrain options. Depending on how you look at it, the company is either so confident in its forthcoming 2015 models that it's offering an interesting Double-Up lease deal on the current vehicles, or it's so eager to clear out existing stock that it's resorting to novel lease deals. In any case, what they present is an interesting scenario, one which allows buyers to get the existing model right now, and then trade up to the facelifted 2015 models in one year.

Starting April 17, when the refreshed cars debut through the end of August, buyers can lease a 2014 Charger or Challenger for one year and exchange it for a three-year lease on a 2015 model next year, with no additional money down and the same monthly payment. Customers can even switch vehicles when the new lease starts. If drivers want to buy the '15, they get $1,000 off the purchase price. To be eligible, both leases must use the same dealership and be financed through Chrysler Capital. The Double-Up deal excludes the SRT versions of both cars and Charger SE models.

To offset the flood of one-year-old models coming back to dealerships, Dodge has struck a deal with rental car agency Enterprise, which has agreed to buy them all. "One-year leases are highly unusual in the industry," said company spokesperson Ralph Kisiel, and the fleet sale deal is what makes it possible.

This offer might be a good way for Dodge to boost flagging sales of both models this summer. According to Chrysler sales data, Charger sales are down 4 percent, to 24,956 units from January through March, and the Challenger is down 24 percent in that time, with just 11,034 sold. Maybe the refreshed vehicles and lease deal will provide the sales jolt they need. Scroll down to read all of the details.

Continue reading Dodge offering novel 1-year lease on '14 Challenger and Charger models

Dodge offering novel 1-year lease on '14 Challenger and Charger models originally appeared on Autoblog on Mon, 14 Apr 2014 15:30:00 EST. Please see our terms for use of feeds.

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>dealerships will see the lease returns to rental companies

Aaaaaaaaand there goes the resale value.

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