Fiat Chrysler Issues Buy-Back Program Details in Response to NHTSA Fine
Fiat Chrysler (FCA) has announced details of its buy-back and incentive program following a record fine from the National Highway Traffic Safety Administration (NHTSA).
As part of the $105 million fine levied by the agency in July, the Italian-American automaker agreed to make offers to vehicle owners that would remedy any outstanding issues, reports Automotive News.
"Remedies are available, we are servicing vehicles and we encourage affected customers to contact their dealers," Scott Kunselman, FCA senior vice president of vehicle safety and regulatory compliance, said in a statement. "It is imperative that all vehicles implicated by recalls are inspected and serviced, as required."
For the owners of nearly 200,000 trucks and SUVs recalled due to a faulty suspension, FCA will buy their vehicles at 10 percent more than market value. Most of the vehicles with a suspension issue are 2008-2012 model Ram pick-ups.
Alternatively, owners may opt to have their vehicles repaired and receive a $100 prepaid Visa card, or accept a trade-in incentive of $2,000 off the purchase price of a new Ram pickup or $1,000 off a Jeep, Chrysler, Dodge or Fiat vehicle. This offer runs through Jan. 4, 2016.
FCA has also offered a few options for owners of 1993-1998 Jeep Cherokees and 2002-2007 Jeep Libertys that feature rear-mounted fuel tanks prone to deadly fires. Eligible owners can receive a prepaid $100 VISA card if they agree to have a trailer hitch installed, an alteration that would protect the fuel tank. Otherwise, owners can trade in their vehicle and receive a $1,000 credit toward a new vehicle purchase, or opt for a $1,000 VISA card that can be used on parts and service at the FCA dealership accepting the trade-in.