Jul 27, 2015 10:33 PM
Fiat Chrysler ordered to buyback Ram, Dodge, Chrysler trucks and SUVs
Never before in history has an automaker been forced to take such drastic measures to make things right with customers. We're talking fines, and we're talking about the company having to buy back cars. Possibly hundreds of thousands of them.
Fiat Chrysler facing a record civil penalty of $105 million for mishandling nearly two dozen recalls involving 11 million cars, and it's forced to buy back some vehicles. Some of Fiat Chrysler's top selling vehicles, Ram pickups, have defective steering parts that can cause drivers to lose control. Older Jeeps have dangerous fuel tanks.
Which vehicles are we talking about? Several Ram pick-up models, 2009 Dodge Durango SUV, 2009-2011 Dodge Dakota pickup, and 2009 Chrysler Aspen.
It's adding up to a huge financial hit for the automaker. According to Kelly Blue Book, a 2010 Dodge Ram 1500 - one of the smaller, less expensive trucks involved in the recalls is worth $20,000 in a dealer trade-in, if it's in good condition.
For vehicles that qualify for the buyback, whether you purchased it new or used, bring it into a dealer. They're required to buy the car back from you at "fair market value," and 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. Click here to see if your vehicle is included in the buyback.
Vehicle owners who have questions about the recalls can call the company at 1-800-853-1403.