Help me understand this one!

[Slim]

Why are they giving an extra 1,250.00 to people with bad credit? Hoping to repossess one day? It should be the total opposite. I have a 800+ FICO where is MY love????
<h2>$2,250 cash back on select Ram 1500 models</h2>

1. $2,250 cash back

• Applies to select new 2019 Ram 1500.

Offer only valid 4-18-2018 through 5-31-2018
Get up to 2,250 Cash Allowance
$1000 Northeast BC Retail Consumer Cash 32CK1⁽¹⁾
$1250 Northeast Non-Prime Retail Bonus Cash NECK1V⁽²⁾

* Disclaimer(s)

• (1) Northeast BC Retail Consumer Cash 32CK1 Residency restrictions apply. See dealer for details. Must take retail delivery by 05/31/2018.(2) Northeast Non-Prime Retail Bonus Cash NECK1V Bonus cash for Type 1/B sales. Customers must have a FICO score below 620. A Transunion, Equifax or Experian credit bureau report is required. See rules for details.
• See State Disclaimer *

 

[firecadet613]

My thoughts exactly.

 

[chade014]

Why are they giving an extra 1,250.00 to people with bad credit? Hoping to repossess one day? It should be the total opposite. I have a 800+ FICO where is MY love????
<h2>$2,250 cash back on select Ram 1500 models</h2>

1. $2,250 cash back

• Applies to select new 2019 Ram 1500.

Offer only valid 4-18-2018 through 5-31-2018
Get up to 2,250 Cash Allowance
$1000 Northeast BC Retail Consumer Cash 32CK1⁽¹⁾
$1250 Northeast Non-Prime Retail Bonus Cash NECK1V⁽²⁾

* Disclaimer(s)

• (1) Northeast BC Retail Consumer Cash 32CK1 Residency restrictions apply. See dealer for details. Must take retail delivery by 05/31/2018.(2) Northeast Non-Prime Retail Bonus Cash NECK1V Bonus cash for Type 1/B sales. Customers must have a FICO score below 620. A Transunion, Equifax or Experian credit bureau report is required. See rules for details.
• See State Disclaimer *

Someone with a 620 score will end up getting a much much higher interest rate so they are trying to off set it with some cash back. That is kind of clever.

 

[Slim]

Someone with a 620 score will end up getting a much much higher interest rate so they are trying to off set it with some cash back. That is kind of clever.

Thanks. I knew there had to be an angle!

 

[Jared B]

Not a bad play, but would someone with a 620 even qualify for a loan? Not trying to be an *** just curious.

 

[firecadet613]

Not a bad play, but would someone with a 620 even qualify for a loan? Not trying to be an *** just curious.

That's my thoughts exactly. A 620 credit score trying to get a loan for a $50,000 truck.

 

[chade014]

That's my thoughts exactly. A 620 credit score trying to get a loan for a $50,000 truck.

Plenty of banks will do it.

 

[habu987]

I admit, I was one of those doofuses when I bought my first new car years ago. Roughly $45k car loan with a ~580 credit score. Got a nice 19.8% interest rate, but I was living the dream! I'm much smarter about car buying these days.

 

[mrmachaveli]

The purpose is in hopes of Chrysler being nice enough to overlook your credit score, you will become brand loyal to them, for their kind favor. And interest is complex.

 

[Deleted member 85]

Not a bad play, but would someone with a 620 even qualify for a loan? Not trying to be an *** just curious.

Score isn't a good indication of whether someone will get approved...

There are a lot of factors that come into play. Good auto-loan repayment is sometimes all that is needed to get a "prime" finance rate. Scores are just a snapshot of someone's ability to handle credit, however, many lenders just want to know that whatever asset they are lending against is to a client with a history of prioritizing that payment.

Just a tid bit.

 

[SoCal Truck]

Score isn't a good indication of whether someone will get approved...

There are a lot of factors that come into play. Good auto-loan repayment is sometimes all that is needed to get a "prime" finance rate. Scores are just a snapshot of someone's ability to handle credit, however, many lenders just want to know that whatever asset they are lending against is to a client with a history of prioritizing that payment.

Just a tid bit.

exactly right.