Last post on May 23, 2013 at 6:30 AM
You are in the Dodge/Plymouth Neon
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Dodge Neon, Plymouth Neon, Sedan
Mar 06, 2001 (1:27 pm)
I currently am 33 months into a 5 year lease on my 1998 Plymouth Neon Expresso. I'm pretty happy with it and had very little problems like the head gasket, but that was covered in the warranty.
I have 29,000 miles so far and am in need of 2 new tires. Im looking to upgrade now so Im in the car market again.
One thing I was wondering is if I am going to get penalized if I try to trade in my car a little over 2 years before my lease ends, and if so how much?
I've been looking to get a 2001 Mercury Cougar with a v-6 for the longest time, but now I am going to go for a 2001 Neon R/T. After looking at it on the Dodge website, I am all giddy I figure I can get a fully loaded Neon for the price of a partially equipped Cougar. Im quite fond of the R/T design and really liked the new interior of the neons with the leather seats.
Any comments would be appreciated!
#579 of 1773 Call me biased...
Mar 06, 2001 (8:36 pm)
but I really don't care for the look of the Cougar. This and the neon comes with more, costs less, and out performs the Cougar and I don't know why anybody buys them. (actually based on how many are out there, not many people are buying them). You will take a hit on ending a lease early, probably more so then if you were 3 years into a 5 year loan, but then your payments have been less the last 33 months. You still have to negociate a trade in value and then there is a payoff with the lease just as if it were a regular loan. It really depends on how much you put down, if you were upside down on your last trade, and how much you paid when you bought it. I bet you can call your leasing company and get a payoff, then check the trade in on KBB and edmunds. The dealer are going to try and use KBB as their numbers are really stacked in the dealer's favor (check trade-in to retail on the same car and you'll find over a 30% markup based on KBB numbers). A new R/T should be able to be found for 500 over invoice which is over $1000 under MSRP. Then there is a rebate currently, right? I just traded my 98 Neon Sport with 24,000 miles and got $7000. It was pretty much spotless and the dealer sold it within a week for over $9000. I only owed $5300 so I was in good shape, I wanted to get a R/T but my wife said no more stick shifts and I also wanted AWD. The new WRX would have been a good choice but we found a sweet 2000 AWD Grand Caravan sport that tows our camper ans is way more comfy then my car a Jeep Grand Cherokee. Now I may trade the Jeep in on a WRX or a Caddy STS, I have to see if the WRX is still peppy with the automatic, the STS sure is. If Dodge puts a four speed automatic and a turbo on the 2002 neon, I'd consider that as well but it would be tough to beat the 227 hp the WRX has in addition to lacking AWD.
#580 of 1773 Question about my lease
Mar 07, 2001 (6:11 pm)
Ok Im around 3 years into my 5 year lease on my 98 Neon, and I recently called the bank Im leasing the vehicle from for a payoff value. I was astonished to see the payoff value of something like $11,000! These 11,000 smacks though was the total of my payments left plus the value of the car after it's paid off. So Im going to guess this wouldn't pertain to me trading in my car for another lease ( I hope ). I have high payments of $250 of a month cause of negative equity, but the rest of the money I put down at the time I believe canceled the negative equity out.
So if I try to end this lease early and start a new lease would anyone be able to give me an approximate amount of penalty I'd be facing, and how much in the hole I would be. I still owe roughly $6,700 in lease payments, and my research on my trade in value came to $5,700. If that puts me $1,000 in the hole I can live with it, but just curious if anyone can help before I start going to dealers and get caught off guard.
Mar 07, 2001 (8:23 pm)
I'd post this question in the 'smart shopper' forum, you'll get a more accurate response. If they wanted you to pay all the remaning payments and the residual why would you give them the car? If I had to make all the remaining payments to give the car up two years early, I'd let it sit in the yard before letting a lease company resell it for a profit while pocketing all the money you are paying. Your current payoff should be somewhere a bit higher then what the residual is for the end of the lease. Then there would be milage penalities if you have gone over your yearly allotment. I really don't know much about leasing, I did lease a car once but just did the full term and turned it back in. I'd agree a grand or two might be OK but you never know what the dealer will try and pull with the numbers game. Next thing you know you're paying $23,000 for a new R/T. Good luck, it sounds like a nightmare to me
#583 of 1773 moggsquad
Mar 09, 2001 (5:53 am)
Actually, there is a lot of excellent information about leasing on our Finance, Warranty, & Insurance Board - I suggest you take a look at the discussion list there. I think you'll find some conversations already underway that can help you out.
hersbird is correct, there has been some leasing conversation in SS, but FWI is a better source for you I think.
Sedans and Women's Auto Center Message Boards
Mar 12, 2001 (1:05 am)
I just sold my 2000 Neon LX, reluctantly, to buy a high-end convertible. Circumstances have changed for the better so I decided to trade up. Let me just say what a fine little car the Neon was, though. It is a great little sports sedan, comfortable, responsive and good-looking. I'll miss it.
Mar 12, 2001 (6:30 am)
i have a 99 neon sport. its got 32k miles on it. i have really had no problems with it really. i am selling it and am wondering if how much i should sell it for. also, it has 16 aftermarket rims on it, so should i take those off and put the originals back on (i still have them), or just leave it as is. it also has a dent on the right rear qp, but its estimated at something like 350 dollars, should i leave that or get it fixed. and by the way, if ne one out there wants to buy it, email me for my phone number. i live in california. thx. by the way, selling it for a wrx, but neon is kick ass. tested it 0-60 and ran 7.2 seconds. not bad for 12 grand. it has great pep.
#586 of 1773 Thankyou, Meatloaf.
Mar 23, 2001 (8:53 pm)
It's good to know you advise against purchasing a new '95 Neon due to your experiences. I would also like to take this opportunity to warn others against purchasing a brand new mid to late 70's Plymouth Volarie. My grandmother owned one of those and was very unsatisfied by its performance.
#587 of 1773 138,000 mile Early Production Model 4dr Highline
Mar 30, 2001 (12:17 am)
Wife's car is a '95 Highline bought off the truck in Nov.1994. Oh God the crap that has happened to that car both mechanically and accidents. Wife had car when we got married April 1995 and I have kept detailed log of all this stuff. Bought the "official" Neon manual plus first edition Haynes repair manual.
Computer was reprogrammed a few times in first 9 months. Last reprogram was during tuneup 1998. Blew the head gaskets twice during the 75,000 mile extended warranty!!! Finally there is someone who hosed Chrysler with warranty claims.
Got all the recall stuff done- gas lines, steering/torque absorber, etc.
Timing belt, waterpump, and head gasket done at 106,000 for around $800 with coolant r&r and belts. Struts and alignment just done at 125,000 when 3rd set of tires purchased (Bought 2nd set premounted so I have 8 rims total). Radio/cassette died at 82,000 but was swapped with same one from my Dodge pickup which was still under warranty, Orginal exhaust was $25 patched July 2000 though it has now rotted at a different spot and will require complete replacement.
Accidents: dealer dropped garage door on geometric center of roof January 1995, right rear $3200 collision (and subsequent waterleak chase over the next 9-12 months;1 1/2 full size tubes of silicon caulk fixed that bastard) March 1995, light left fender front end damage April 1996, right front fender and light underbody (blown tires bent rims, oil pan)damage June 1998 when wife was run off road by drunk driver.
I probably have much more but I must get to bed. I may try to comment more in the pm of 3/30/01.