FCA Reveals Buy-Back, Discount Plans on Recalled Vehicles

Fiat Chrysler Automobiles NV has detailed several incentives and buyback programs it agreed to launch under its $105 million federal settlement over delayed recalls.

The plans range from $100 prepaid credit cards and $2,000 trade-in incentives to offers to buy back vehicles at 10% above their current market price.

FCA says the buyback offer will be available to about 175,000 owners of select 2008-2012 Dodge Dakota and Ram pickup trucks and Aspen and Durango SUVs. Affected vehicles have steering tie rod or rear axle pinion nut problems. The company has fixed those flaws in more than 400,000 vehicles, which are not eligible for buyback.

The buyback plan allows owners to negotiate a trade-in and get an additional discount of $1,000 or $2,000 on a new replacement vehicle, depending on the model. Owners also can opt to sell back their vehicle at a later date and get fair market value plus 10%. Or they can keep their trucks, get them fixed and receive a $100 prepaid credit card to spend as they wish.

Separately, FCA is offering owners of 1998-1998 Jeep Grand Cherokee and 2002-2007 Jeep Liberty SUVs a $100 prepaid credit card if they bring in their vehicles to have a free trailer hitch installed. The device is intended to reduce the risk that a rear-end collision could cause a fuel tank fire.

Affected Grand Cherokee owners have the option of trading in their vehicles and getting either a $1,000 discount on a new FCA model or a $1,000 prepaid credit card with which to buy parts or service on their new vehicle.