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Prices Paid: Buying & Leasing Experiences Chrysler Town & Country Lease Questions
281 messages, Last post on Aug 02, 2008 at 3:25 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: tim34 (Dec 19, 2005 11:49 am) 1) keep driving and turn in at current rate, 48k miles and pay the mileage penalty (20c/mi? = $2400) 2) keep driving and turn in early. DCX often has lease pull ahead offers which take time, not mileage into account. So, you can turn in your vehicle at say 30 months, but you get to use the full 36k miles. That puts you at 4k miles over vs. 12k over for the full 36 mo. 3) Buy your vehicle at the end of the lease for the specified amount (or negotiate w/ finance company). You don't pay mileage penalties if you buy the vehicle at lease end. 4) Buy/lease another vehicle to save some miles on the current lease. Is a $2000 car good enough for 12k miles and still worth $1500 to sell later? 5) Sell your lease (leasetrader, etc) and get another vehicle w/ appropriate mileage. |
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Replying to: aaron_t (Dec 08, 2005 6:17 am) Car_man Host Smart Shopper / Prices Paid Forums |
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Replying to: tim34 (Dec 19, 2005 11:49 am) You can avoid having to pay any excess mileage penalty by purchasing your van now, but I am sorry to say that it is usually fairly expensive to get out of leases well before their scheduled end dates. In order to do so, you need to purchase the vehicle that you are currently leasing from the bank that you are leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive. You can determine approximately how much it will cost you to get out of your current lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". One of our most knowledgeable community members, Terry, frequents that discussion and he is often kind enough to give community members who give him an accurate description of their vehicles with his opinion on their value. Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another new vehicle. If you are way over your allotted mileage then, you can always purchase your van and continue to drive it for a while. The early lease termination option that the previous community member mentioned is an option, but DaimlerChrysler's current offer only waives four remaining lease payments and you have a lot more remaining than that. Plus, there is no guarantee that this sort of program will be available when you are actually able to take advantage of it. Car_man Host Smart Shopper / Prices Paid Forums |
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In message 13, you mention "DaimlerChrysler's current offer only waives four remaining lease payments." Is this something that had to be written into the existing lease documents, or is it a "factory incentive program?"
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Hi Everyone, I am looking to lease a minivan for minimal use, like 8000-10000 miles a year. It needs no amenities and I don't care about make or model. I qualify for top tier credit levels and of course will put nothing down. I am posting in the Chrysler board because they are selling the base model for $15000 in my local area, San Jose. How do the other minivans stack up based on residuals, incentives, money factors? I've done searches on the message boards and can find little information on residuals and money factors except for Hondas. I will be leasing only, absolutely not buying. A breakdown of minivans residual, mf's and incentives would rock. I don't care about miles so as long as I can do a relative comparison I'm happy. I know you live and breathe these boards Car_man so I'm hoping you are up to the challenge!  
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Replying to: jgordontx (Jan 27, 2006 10:45 am) Car_man Host Smart Shopper / Prices Paid Forums
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Replying to: pktrckt (Jan 27, 2006 5:47 pm) . The least expensive lease payment on a minivan that I have seen advertised this month was on the base 2006 Dodge Caravan (the short wheelbase model not the Grand Caravan). Generally speaking, the Caravan is less expensive than the Town & Country. If I was in the market for an inexpensive minivan and didn't care about price or quality I would probably go that route. I suspect that the Ford Freestar and Chevrolet Uplander will be fairly inexpensive to lease, but I haven't seen any advertised lease payments on them lately. My two favorite vehicles in this segment are the Honda Odyssey and the Toyota Sienna, but they will cost more to lease than the Caravan will. Let's take a look at these van's current lease programs (36 months, 15,000 miles per year): 2006 Dodge Caravan SE FWD: .00132 / 37% 2006 Ford Freestar SE: 2.0% (.00083) / 36% 2006 Chevrolet Uplander: 5.5% (.00229) / 52% 2006 Honda Odyssey EX: .00265 / 60% 2006 Toyota Sienna (base model): .00190 / 59% (this is the most common program for this van, but Toyota's lease program varies by region) The cash incentives and selling prices of these vehicles will have a tremendous impact upon their lease payments. Car_man Host Smart Shopper / Prices Paid Forums |
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Carman, Can you give me residual value or percent on 12k mile, 36 month lease on T & C Touring minivan with no additional options and money factor for excellent credit score? Any additional bonus lease cash right now? I can figure the rest. Thanks.
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Hi Car Man, Can you give me the current MF and residual on a Town & Country Touring lease? Assume 12,000 miles/year and 36 months. I know Chrysler sometimes has odd lease lengths (I've seen 27 months advertised), so if you see anything from 27-36 months I'd be interested in the difference between time periods. Thanks!
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