Buyback

Calling all Dodge, Chrysler, Jeep & Ram owners: Do you choose $100 or risking your life?

Fiat Chryslers recall includes over 11 million vehicles, including the Chrysler Dodge Dakota 2011 with defective steering and rear axles.

Fiat Chryslers recall includes over 11 million vehicles, including the Chrysler Dodge Dakota 2011 with defective steering and rear axles.

Maybe owners of Chrysler, Dodge, Jeep and Ram are just too busy or don’t care if they might lose control over their steering or have a defective rear axle. But their problem is exponentially greater because tens of thousands of owners have not responded to recall notices to fix their vehicles for faulty steering and/or suspension parts. It hasn’t helped that Fiat Chrysler dragged their feet in issuing recalls of over 11 million cars and trucks. Thus, this past July, Fiat Chrysler agreed to pay a record $105 million penalty and to take steps following a government investigation of the company’s handling of 23 recalls involving the >11 million vehicles.

The National Highway Traffic Safety Administration demanded that consumers be able to sell their vehicles back to the company if repairs haven’t been completed. Fiat Chrysler has estimated that more than 60 percent of the estimated 500,000 vehicles have already been repaired, leaving them ineligible for a buy back.

Owners of the 1993-1998 Jeep Grand Cherokee and 2002-2007 Jeep Liberty who hadn’t taken their SUVs in for recall repairs for a faulty gas tank by July 24 are eligible for a $1,000 credit that can be applied toward the purchase of a new Fiat Chrysler car or truck at a dealership. Owners who want to keep their vehicles get a $100 prepaid credit card after their repairs are complete.

Some of the $105 million penalty levied against Fiat Chrysler will go to offering buybacks, trade-in incentives or even cash to some drivers affected by the recalls. The company agreed to make all of these deals available in the next few weeks.

If you drive one of several Ram pickup models, or a 2009 Dodge Durango, a 2009-2011 Dodge Dakota or a 2009 Chrysler Aspen, your car qualifies for a buyback if it hasn’t been fixed yet. Eligible Ram pickups include the 1500 from model years 2008-2009 and the 2500, 3500, 4500 and 5500 from model years 2008-2012. Chrysler said that there are less than 200,000 of these vehicles on the roads.

Why Fiat Chrysler got in trouble: Those models were recalled two years ago for steering issues or loose rear axles. Either problem could cause the driver to lose control of the vehicle. To make matters worse, Chrysler didn’t make enough replacement parts or failed to provide “effective” parts after the initial recall, said Gordon Trowbridge, spokesman for the National Highway Traffic Safety Administration.
Other Ram pickups have also been recalled for steering issues, but Trowbridge said that many more of those vehicles were fixed, so they’re not included in this program.

Solution: Whether you bought your vehicle new or used, bring it into a dealer. They’re required to buy the car back from you at “fair market value,” and to throw in a 10% premium. You can walk away with the all that money in cash, or use the money toward purchasing a new vehicle.

“Fair market value” is the original sticker price of the vehicle minus depreciation. The dealer will negotiate that value with you when you take it in. Check Kelly Blue Book or another used-car value benchmark to see what yours is potentially worth.
Who is eligible for a trade-in bonus

Older Jeep Grand Cherokee models are eligible for a trade in at above-market value. If you have a 1993-1998 Jeep Grand Cherokee and you haven’t fixed the fuel tank problem it was recalled for, Fiat Chrysler is required to let you trade in your vehicle and give you a $1,000 credit. These Jeeps were recalled back in 2013 for fuel tanks that can leak after a rear-end collision. That issue has been linked to more than 75 deaths.
The fix: Take your SUV to a dealer and trade your Grand Cherokee in for a new car. The trade-in price will again be for “fair market value,” and the $1,000 can only be used toward purchasing another Fiat Chrysler vehicle or dealer parts and services. If you’d rather keep your Grand Cherokee, Fiat Chrysler must give you a $100 gift card (that you can use anywhere) when you take your SUV in to be fixed.

Who is eligible for a $100 gift card:  Some Jeep owners can take their car in for a fix and get a $100 gift card. You can also get a $100 gift card for bringing in a 1999-2004 Jeep Grand Cherokee or a 2002-2007 Jeep Liberty for a fix. Those vehicles also had concerns about faulty fuel tanks and were involved in recalls or “safety campaigns” by Fiat Chrysler. Solution: Take your SUV to a dealer, have your vehicle fixed or inspected, and get a $100 gift card that you can spend anywhere.

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