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Prices Paid: Buying & Leasing Experiences Chrysler 300 Lease Questions
231 messages, Last post on Jul 28, 2008 at 10:16 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: Car_man (Aug 31, 2005 2:32 am) I'm in NY looking to lease a Chrystler 300 for MSRP 36,000. Can you give me the money factor and residual. I'm looking at 36 months with 12k miles per year. I'm planning to buy in September. Thanks. |
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Here's the information that you're looking for, mschiavone. If you were to lease a base 2006 Chrysler 300 through Chrysler Financial right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00175 and 63%, respectively. This car's lease program is different if you want a higher trim level, like a Touring model, or one that is equipped with AWD. Let me know if you are interested in a 300 other than the base model and I will let you know what its exact lease program is currently like. When negotiating your lease ont his car, make sure to take the $500 bonus cash that DaimlerChrysler is currently providing on it into account. This money will help you to negotiate an attractive capitalized cost. Car_man Host Smart Shopper / Prices Paid Forums
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Replying to: Car_man (Sep 20, 2005 2:23 am) In fact I am looking to lease. I am looking at the 2006 AWD Touring addition with sunroof and sound group. Can you expand on the current lease offers? Are the money factor and residual the same for the AWD Touring? Thanks
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Replying to: Car_man (Sep 20, 2005 2:23 am) |
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| I have never leased a vehicle so bear with me...I am planning on leasing a 2006 Chrysler 300 SRT-8. It is a very low production vehicle that most dealers are marking up $2-3k, but my dealer is leasing the car to me at MSRP. The money factor he quotes is 0.00235 with a residual value of $26,342.25. Initial cap cost is $47,895, L.E.V. is calculated at 55%, Bank fees/gap is $700. 36 mo. term, 15k miles per year. Does this seem reasonable? | |
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You're welcome, mschiavone. If you were to lease a 2006 Chrysler 300 AWD Touring through Chrysler Financial right now for 36 months with 15,000 miles per year (a typical term / mileage, let me know if you plan on going with a different length / mileage), its buy rate lease money factor and residual value should be .00236 and 57%, respectively. When negotiating your lease on this car, keep in mind that DaimlerChrysler is currently providing $500 bonus cash on it. This money will help you to negotiate an attractive capitalized cost. Car_man Host Smart Shopper / Prices Paid Forums |
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Funny that you should ask about the SRT-8 version of this car, 540dude. I just moved another post with a question on the same exact model here. My next post should contain a lot of the information that you are looking for. Let me know if you have any other questions. Car_man Host Smart Shopper / Prices Paid Forums |
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Hi kctime. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment. As far as this car's current lease program goes, Chrysler Financial's current buy rate lease money factor and residual value for a 36 month, 15,000 miles per year lease of a 2006 Chrysler 300C SRT-8 should be .00195 and 55%, respectively. The last time that I saw it, Chrysler Financial's base lease acquisition fee, it was only $550. It appears as though the dealer that you are working with may be selling you this car without the price mark-up that many other dealers try to get on it, but it is then trying to make up for some of this lost profit on the back-end of your deal by marking up your car's money factor and acquisition fee. Car_man Host Smart Shopper / Prices Paid Forums
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Replying to: Car_man (Sep 25, 2005 5:15 am) The Westchester County dealer was happy to sell me the car at MSRP (A 300C SRT8 with all options except the rear DVD), which is a little more than $46K. Then he had the termerity to quote me $850 per month for a taxes-rolled in lease and $785 per month for a taxes up front lease!! That's more than I am paying for my 2003 540i Sport, which stickered north of $60K. Of course, when I heard this bullcrap, I immeditely asked him what the money factor was. He responded with a number that, when multiplied by 2400 translated into an APR of 7.2%. I told him that that was totally unacceptable and told me that I wanted the BASE money factor and that I knew that that was marked up. He would not budge. Accordingly, I terminated the conversation. Bottom line: Chrysler dealers are getting saavy to the fact that consumers don't want to pay more than MSRP for the 300C SRT8. So they are marking up the lease money factor and toying with the residual value to make their killing that way. Well, it looks like I will be going with the M45 Sport. The Infiniti dealer in Bergen County, NJ has been straighforward and has treated me with respect and has not played these stupid games that every single Chrysler dealer has with the 300C SRT8. (A Chysler dealer in Central Bergen County, NJ wanted $3K over sticker and monthly lease payments over $900 per month--we are talking Mercedes S-Class territory). (Another Chrysler dealer in Northern Bergen County, NJ in Ramsey wanted $2K over sticker--and then marked up the lease money factor to over 12% APR, resulting in monthly payments that exceeded $1,200--I told that moron that for that kind of cash, I would lease a Mercedes E55 or BMW M5. He then offered me $1000 per month for a plain vanilla 300C! Sorry, but for that kind of cash, I will lease a BMW 750. Of course, I walked out). I am still waiting on one more Chrysler dealer in Central Pennsylvania. Perhaps that dealer will be more honest that the crooks who call themselves Chrysler dealers in the New York metro area. This is the first time that I have ever considered an American car since I was in my teens. Given these cheeseball experiences with NYC-area Chrysler dealers, it will be my last. The Lexus, Infiniti, Mercedes and BMW dealers that I have dealt with have never played games like the Chrysler dealers have. |
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You're very welcome 540dude. $1,200 a month for a Chrysler 300 is absolutely laughable, even for an SRT-8. You were right to walk out on that dealer. I wouldn't do business with them in the future either if I had gotten a quote like that from them. Good luck in your quest for a new vehicle and let me know if you have any other questions. Car_man Host Smart Shopper / Prices Paid Forums
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