Will you be buying a used car this year? Effective January 1, 1999, the Citibank Drivers Edge Rebate Program will be expanded to allow cardmembers to redeem rebates toward the purchase or lease of any used car.
The Citibank Drivers Edge Rebate Program previously covered only new cars, but now cardmembers may purchase or lease a used car, van, light truck or sport utility vehicle through a dealership, over the Internet, or through a private sale. This latest feature allows cardmembers to redeem their current and future rebates toward the purchase of absolutely any car on the U.S. market.
In 1997, the purchase or lease of used vehicles represented 73 percent of all vehicles sold. Sales of used cars are increasing due to improved vehicle quality and the growing number of previously leased vehicles, which come onto the used car market.
Citibank Drivers Edge Charter Member cardmembers earn two percent rebates on all eligible purchases, up to $500 in rebates per year with a maximum of $1,500 on any one vehicle. The rebates expire three years from the end of the calendar year in which they were earned.
Drivers Edge Options rebates accumulate at one percent on eligible purchases up to $500 in rebates per year, with a maximum of $2,500 on any one vehicle. The rebates expire five years from the end of the year in which they were earned.
Cardmembers that have not as yet made a purchase or lease decision, but have rebates that are expiring, can redeem those expiring rebates for their full cash value.
Redeeming rebates is easy, too. Simply send to Citibank, within 60 days of the purchase or lease of a used vehicle, a completed Redemption Form and either a dealership bill of sale, the lease agreement, or the vehicle registration. A rebate check is then forwarded to the cardmember directly from Citibank. In addition, all previously earned rebates can be combined with those earned after January 1, 1998 when redeeming against future leases or purchases of a vehicle.
More information is available on the Drivers Edge Rebate Program at the Web site www.citibank.com.