Chrysler Locks in Gas Prices

America is struggling with a weakening economy. The housing market is slow and the cost of groceries and gas continues to increase daily . Consumers are frightened about what the next few months hold and are tightening their wallets. Many businesses can attest to this with decreased sales, especially those in the automobile industry. Consumers tend to delay unnecessary spending during difficult financial times and if they may have wanted a new car but their car is still running fine, they will put off making that car purchase until they are feeling more financially confident. Automakers recognize this and therefore offer incentives, normally in the form of cash back, no money down, or lower interest rates. Chrysler has introduced a new sales incentive with "Let's Refuel America", allowing consumers to lock in the price of gas at $2.99 per gallon. Yes, you read that correctly, $2.99 a gallon!

This "Let's Refuel America" Chrysler sales incentive is only being offered on vehicles purchased or leased between May 7, 2008 and June 2, 2008. The gas incentive is offered on new 2008 and 2009 Chrysler, Dodge or Jeep vehicles with some exclusions (all SRTs, Dodge Sprinter, Dodge Viper, Dodge Ram Chassis Cab, Dodge Challenger, Chrysler Crossfire, Jeep Wrangler and Jeep Wrangler Unlimited). As long as you make a qualifying purchase and have a valid MasterCard or Visa, you will only have to pay $2.99 for each gallon of gas pumped for the next 3 years no matter how much the cost of gas rises. There is a limitation to the octane of gas and the number of gallons allowed. The fuel gallon allotment is based on the vehicle being driven 12,000 miles per year, multiplied by three years, and then divided by the individual model's average MPG. Any unused annual fuel gallons will not rollover to the following year. It is also important to note that if the price of gas pumped is less than $2.99 per gallon you should not use your "Let's Refuel America" Card for this transaction because you will be charged $2.99 per gallon.

Let's calculate the savings. Let's say you are driving a vehicle 12,000 miles a year and it averages 21 miles to the gallon. The current price of gas is $3.61 per gallon, locking in the price of gas at $2.99 a gallon will save you $354 a year. Over the course of three years you are saving $1062 on gas.

Consumers making a qualifying purchase will need to enroll in the "Let's Refuel America" program by July 31, 2008. Upon doing so they will receive a special card and pin number to be used when pumping gas. The "Let's Refuel America" card is accepted at 97% of all gas stations in the United States. This card is tied into the MasterCard or Visa you provided at the time of purchase. Your receipt at the pump will show that you paid full retail price, but the $2.99 per gallon price will appear on your statement. This card may be used on vehicles other than the qualifying purchase.

In addition to the "Let's Refuel America" gas incentive, Chrysler is also offering additional bonus cash ranging from $500 up to $3,000 on 23 vehicles. Will these incentives be enough to entice the American buyer? Will Chrysler see a spike in their summer sales? Will more automakers follow Chrysler's lead with gas incentives? Stay tuned to what is definitely becoming a car buyers market.

Source: www.letsrefuel.com