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2009 Smart Fortwo for $99 per Month



smart USA is promoting a $99 monthly payment for a 2009 Smart Pure, with the Cash for Clunkers incentive when applied to a Smart Fortwo. But read the fine print. There is a asterisk saying the $99 payment is for a balloon note, an uncommon form of payment for the purchase of a car. According to smart USA the Smart Fortwo is the most economical non-hybrid car available in America getting 33 mpg city and 41 mpg Hwy.

The Smart Fortwo started off like a top fuel dragster, but when fuel prices dropped from their peak, smart USA and their smart car centers felt the pain. With smart USA's June sales down by 56 percent from last year (1,116) they lowered their sales forecast to 18,000 units in 2009, from a forecast of 25,000.

Now smart USA and Penske is hoping to cash in on the "Cash for Clunkers" program and currently promoting a $99 monthly payment, with the CAR incentive of $4,500 from the governments Car Allowance Rebate System and applying it to a Smart fortwo.

But read the fine print. There is a sizeable asterisk saying the $99 payment is for a balloon note, an uncommon form of payment for the purchase of a car.

The fine print (below) explains that at the end of the agreement (36 months) the Smart buyer owes $6,667. This is more than 50 percent of the cars MSRP, for a 3-year-old car and after making a hefty $4,500 down payment, with your Cash for Clunkers rebate. A 3 years Smart Pure model, the least expensive model you can purchase, will not likely hold this value after three years.

smart USA Customizes Offer for Car Allowance Rebate System- smart fortwo Financing for as Low as $99 Per Month

smart USA has set aside a limited number of vehicles for immediate delivery with the official launch of the CARS program. A special financing offer has been developed exclusively for the program. Please find below details regarding the $99/month* program.

Under the CARS program guidelines, the smart fortwo will qualify for the highest credit level of $4,500 upon the trade-in of an eligible vehicle
When the credit is applied to the price of a smart fortwo, qualified buyers could be offered payments as low as $99 a month
This special offer is made available exclusively through Daimler Financial Services and is based up upon a smart fortwo with an MSRP of $13,335, using a 36 month balloon note with an APR of 5.9%
The $99 offer requires use of the $4,500 CARS credit and includes destination charge and excludes, tax, title and dealer fees
A balloon payment of $6,667 is required at the end of the 36 month term
Contact your local smart center for details on this and other attractive financing offers
Reserve your smart fortwo today
*Financing for qualified buyers available through Daimler Financial Services at authorized smart center dealerships registered in the CARS program. Not all customers will qualify. Subject to credit approval by the lender and the terms and requirements of the CARS Program and associated regulations promulgated by the United States Department of Transportation. $99.00 monthly payment based on customer trade-in of an eligible vehicle qualifying for the CARS $4,500 voucher level, a $70.57 combined contribution by Daimler Financial Services and smart USA, and a 36-month balloon loan with $0 cash due at signing and a final balloon payment of $6,667.50 at the end of the loan term and a $ 13,335 MSRP which includes the destination charge and excludes tax, title and dealer fees. 5.9% APR financing for 35 months at $11.30 per month, per $1,000 financed, plus the final balloon payment. Financing terms must be permitted under the CARS Program. Restrictions apply for eligibility for the $4,500 voucher under the CARS program; please see www.cars.gov for details. Offer only applies to new and unused 2009 smart fortwo model vehicles. Offer not available in all states. Visit your dealer for complete details on this and other financing offers.

Source: smartUSA.com

BLOOMFIELD HILLS, MI,

June 25, 2009 – smart USA applauds President Obama’s signing of the Car Allowance Rebate System (CARS) Bill, also known as "Cash for Clunkers". In fact, smart is the "Number 1" U.S. brand in fuel efficiency and is the only car company that already exceeds the new fuel efficiency requirement, recently set by the Obama administration, which mandates an average of 35.5 miles per gallon by 2016. The Bill is intended to replace older, less fuel efficient vehicles with those that are more environmentally responsible. The smart fortwo is the vehicle that truly meets the intent of the CARS program.

It is the most fuel efficient non-hybrid vehicle offered in the United States delivering 41 MPG on the highway. The smart fortwo is also certified as an Ultra Low Emissions Vehicle (ULEV) by the California Air Resources Board, and is an Environmental Protection Agency "SmartWay" vehicle which recognizes its low greenhouse gas and air pollutant scores.

Under the CARS program guidelines, the smart fortwo will qualify for the highest voucher level of $4,500 upon the trade in of an eligible vehicle. When this voucher amount is applied to the purchase of a new smart fortwo, smart USA will be offering payments as low as $99 per month for qualified customers*.

The program is expected to launch later this summer when the Federal government officially begins allowing consumers to take advantage of the trade-in voucher. However, interested consumers can learn more about the smart USA $99 per month offer by visiting www.smartusa.com.

smart USA has set aside a limited number of vehicles for immediate delivery with the official launch of the CARS program. "The smart fortwo is the ideal vehicle for the environmental benefits that the "Cash For Clunkers" program was originally designed to support. As a society, now is the time to live smart by consuming less and conserving more, and that’s exactly what buyers of the smart fortwo will achieve for a very low monthly payment and very low cost of ownership. As the Number 1 brand in fuel efficiency we are excited to add to the growing number of satisfied fortwo owners throughout the United States.

Although only on sale for just over a year in the U.S., there are already 32,000 smart fortwo’s on the roads of America joining over 1 million smart fortwo owners throughout the rest of world who are proving everyday that conserving can also be a whole lot of fun", said Dave Schembri, President of smart USA. ABOUT the smart fortwo and smart USA smart USA Distributor LLC, headquartered in Bloomfield Hills, Mich., is the exclusive distributor of the smart fortwo in the United States and Puerto Rico and is a wholly owned subsidiary of Penske Automotive Group, Inc. The smart fortwo is a brand of and is manufactured by Daimler AG. This technologically advanced vehicle achieves 41 mpg on the highway and is an ultra-low emissions vehicle, as certified by the State of California Air Resources Board. The vehicle is 8.8 feet long, 5.1 feet tall and 5.1 feet wide and comes equipped with many functional and safety features found in most luxury models. smart is currently sold in 36 other countries, and more than one million smart fortwos have been sold since 1998. The 2009 smart fortwo is available in five trim levels ranging in price from $11,990** to $20,990**. For more information visit the smart USA website – www.smartusa.com.

** For 2009 models. Excludes tax, title, registration, destination charge, options and other dealer fees. smart is a registered trademark of Daimler AG.

ABOUT PENSKE AUTOMOTIVE GROUP
Penske Automotive Group, Inc., headquartered in Bloomfield Hills, Michigan, operates 311 retail automotive franchises, representing 40 different brands and 25 collision repair centers. Penske Automotive, which sells new and previously owned vehicles, finance and insurance products and replacement parts, and offers maintenance and repair services on all brands it represents, has 160 franchises in 19 states and Puerto Rico and 151 franchises located outside the United States, primarily in the United Kingdom. Penske Automotive is also the exclusive distributor of the smart fortwo through its wholly-owned subsidiary smart USA Distributor LLC. smart USA supports over 70 smart retail centers in the United States. Penske Automotive is a member of the Fortune 200 and Russell 1000 and has more than 14,000 employees. smart and fortwo are registered trademarks of Daimler AG.

*Financing for qualified buyers available through Daimler Financial Services at authorized smart center dealerships registered in the CARS program. Not all customers will qualify. Subject to credit approval by the lender and the terms and requirements of the CARS Program and associated regulations promulgated by the United States Department of Transportation. $99.00 monthly payment based on customer trade-in of an eligible vehicle qualifying for the CARS $4,500 voucher level, a $70.57 combined contribution by Daimler Financial Services and smart USA, and a 36-month balloon loan with $0 cash due at signing and a final balloon payment of $6,667.50 at the end of the loan term and a $ 13,335 MSRP which includes the destination charge and excludes tax, title and dealer fees. 5.9% APR financing for 35 months at $11.30 per month, per $1,000 financed, plus the final balloon payment. Financing terms must be permitted under the CARS Program. Restrictions apply for eligibility for the $4,500 voucher under the CARS program; please see www.cars.gov for details. Offer only applies to new and unused 2009 smart fortwo model vehicles. Offer not available in all states. Visit your dealer for complete details on this and other financing offers.

Source: media.daimler.com

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