The Jeep brand is looking to make a major splash with a $15 million lease of the brand’s newest Jeep Grand Caravan.
The deal is for three years, with the automaker leasing the vehicle for a total of $19 million.
Jeep’s lease with its current lease terms runs through 2021.
Jeep has been making a push to boost sales and get more people to buy its newest models.
Jeep had said it will launch a new line of models in 2018.
Ahead of the deal, Jeep had announced it had secured $1.8 billion in financing from a series of lenders, including J.P. Morgan Chase & Co. and Fidelity Investments, to help finance the new car.
Last year, the company raised another $1 billion in loans from Fidelity and J. P. Morgan.
P Morgan Chase, which has its headquarters in downtown Manhattan, said it expects Jeep to pay off $6.7 billion of its $11.9 billion in outstanding loans in 2023, the first year the loans will be fully repaid.
Its latest investment comes as Jeep is looking for more money to ramp up production of the new model.
The company had planned to have 50,000 cars produced by the end of the year, but had to halt production in the last two years after failing to meet production targets.
It has also struggled to keep up with demand for its Jeep Wrangler and Grand Cherokee models.