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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 (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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Replying to: Car_man (Sep 26, 2005 2:23 am) I actually thought that $1000 per month for a regular 300C was even more ridiculous than the $1200 quoted to me for the SRT8. I later went to a foreign car branch of the same family of dealerships. The salesman, without any prompting, volunteered that the sales department at that Chrysler dealership is known for this kind of behavior. |
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Well I finally did receive numbers on a proposed lease from the dealer in Central Pa. Here are the proposed terms for a 300C SRT with the following options: SRT Option Package 1, SRT Option Package 2 and Kicker sound system. I did not opt for the rear DVD. MSRP on this car, so equipped, is $46795: 1. Selling price is MSRP ($46,795). 2. Money factor is .00195 3. Residual is (allegedly) 56% 4. 18,000 miles per year 5. Term is 36 months. 6. Sales tax of 8.625% (I live in NYC) is rolled into the payment. Dealer claims that the monthly payment is $835 per month with taxes rolled into the payment. Here's the rub: when I ran these numbers through the lease calculators on www.leaseguide.com and www.morebusiness.com and www.mortgages.interest.com, I get $775.90 per month--NOT the $835 per month that the dealer is quoting me. When I ran these number through the lease calculator on Bloomberg.com, I get $767.09--again NOT the $835 per month that the dealer is quoting me. Sadly, I again come to the conclusion that the dealer is ripping me off (although not nearly to the extent of the amounts that the Westchester and Bergen County dealers attempted to gouge me). Am I wrong?? Looks like I will be getting the Infiniti M45 at this rate (Best quote I got was $1,000 over invoice for a fully loaded M45 Sport (all options other than full aero kit and rear DVD) with monthly payments of $737, taxes rolled in, and, for that lease, the numbers do add up). |
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You're welcome 540dude. The 300 is a cool looking vehicle, but for $1,000 a month the trunk better be filled with gold bullion. All these Chrysler dealers messing with me would leave a bad taste in my mouth too. At this point, I'd probably go with a different brand if I was in your situation. Car_man Host Smart Shopper / Prices Paid Forums
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Replying to: Car_man (Oct 09, 2005 4:01 am) |
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Replying to: mschiavone (Sep 20, 2005 9:34 am) I was quoted a 06 AWD Limited 300. Including the options, MSRP was 35,600. The price he gave me was 33,230. He said the residual is 55% and money factor .00328 (seems really high). I stated I only wanted a 36 month lease but the salesman said Chrystler wouldn't let them go do a 36 month, only a 39 month. Is this really true?? For 39 months, 12k miles and 2500 down, the payment was 528 a month for the lease. Seems really high. Can you give me your residual and money factor for this trim? |
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I am glad that you ended up finding a car that you will be happy with without being taken advantage of, 540dude. Enjoy your new M45  . Car_man Host Smart Shopper / Prices Paid Forums |
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Hi mschiavone. The salesperson who told you that Chrysler Financial would not let them run a 36 month lease on this car was not exactly telling the truth. You can do a 36 month lease on a 2006 Chrysler 300 right now if you want to, but the 39 month lease program is more attractive and probably the way that I would go if I was interested in leasing one right now. The money factor that you were quoted is definitely too high. Chrysler Financial's buy rate money factor for a 39 month lease of a 2006 300 Limited AWD is currently only .00228. The 55% residual value that you were quoted is correct though. Let's calculate a 39 month lease payment for this car using Chrysler Financial's actual base lease program and see what we come up with. According to my calculations, if you were to lease a 3006 Chrysler 300 Limited AWD with an MSRP of $35,600 and a selling price of $33,230 through Chrysler Financial right now for 39 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $471. With a $2,500 down payment, which I highly advise against, the payment for an otherwise identical lease would drop to around $401. As you can see, the deal that you were quoted is terrible. Man, what's with Chrysler dealers gouging consumers so badly on the 300 anyhow? Car_man Host Smart Shopper / Prices Paid Forums
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Replying to: Car_man (Oct 17, 2005 3:06 am) |
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