- #197 of 286
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Re: Putting $$ down with a 36 month lease plus incentives [btine]
by fredm6
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May 26, 2008 (7:17 pm)
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Replying to: btine (May 25, 2008 7:55 pm)
I leased in March when the incentives were very good. I got a total of $4250 in rebates and cash incentives. One was a $500 Auto Show Bonus. At that time Chrysler was giving a $2500 rebate and $1000 owner loyalty. I also got the Conquest cash of $1000 even though I had different opinions on whether I qualified for that.
The rebate and incentive things seems to be a moving target and now with the $2.99 per gallon gas offer it is even more confusing since if you take the gas offer you will not get as much in rebates. I frankly have not kept up with this recently.
I would not put $4000 up front. That is just a cap cost reduction to lower your monthly payment. I would also try to find a New Day package (Walter P. Chrysler edition) and get the $1500 dual DVD plus some other items for free.
I just helped my daughter with a lease for a small or midzize SUV and we found that the price were all over the place. They play with the amount up front and length of lease. Most wanted almost $3000 at signing and a disposition fee of $595 due when she turns in the vehicle at end of lease. She ended up paying $688 at signing and a reasonable monthly payment. Good luck, with lots of vehicles on dealers lots they should be dealing.
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- #198 of 286
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Re: Putting $$ down with a 36 month lease plus incentives [btine]
by geeves229
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May 26, 2008 (7:54 pm)
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Replying to: btine (May 25, 2008 7:55 pm)
What is the tax rate in your area? I believe the residual should be 50% and the money factor should be .00140 for top tier credit. Take the $4000 you were going to put down and place it in a high yielding savings account, such as HSBC online savings. You can automatically make a transfer from that online account to your bank account every month. As mentioned in previous posts, if you put $4000 down and your car gets stolen your insurance will reimburse you the cost of the car, but you will never recoup your down payment.
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- #199 of 286
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Leasing 2008 Chrysler T&C Touring Signature Series with Swivel and Navi
by apadmana
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May 27, 2008 (3:31 pm)
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I am trying to lease a Leasing 2008 Chrysler T&C Touring Signature Series with Swivel, Navigation dual DVD with 5 dvd changer, MyGIG, leather interior in Raleigh, NC. I was quoted $375 with $900 down for 36 months and residual value of $16000. Does this sound like a good deal?
Can folks out there help me on arriving at a good price? Any options to get a better deal?
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- #200 of 286
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Re: Leasing 2008 Chrysler T&C Touring Signature Series with Swivel and Navi [apadmana]
by geeves229
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May 27, 2008 (4:11 pm)
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Replying to: apadmana (May 27, 2008 3:31 pm)
hard to say if it is a good deal. I can tell you that they should be using a 50% residual, and .00140 money factor. Don't know what your tax rate is in N.C. If it helps at all I put together some numbers for a T&C signature series with an MSRP of $32,500. I am not positive that I am figuring these numbers correctly because I have had a couple quotes around $425 a month with $0 down.
MSRP-32,500
Negotiated Price-27,200 (including $3000 rebate)
50% residual of MSRP=16,250
Cap Cost- (27,200-16250=10,950)
10,950 / 36 months= 304.16
Money Factor (27,200+16,250= 38,150*.00140=60.96)
304.16+ 60.96=365.12 (Total without tax)
365.12 * 1.0825(New York State Sales Tax)= $395.24
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- #201 of 286
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Is this right????
by geeves229
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May 28, 2008 (7:40 am)
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I spoke to a internet sales manager today that told me that Chrysler has a $700 "acquisition fee". I stated that I believed it was the destination charge ($770)he was referring to, but he stated that they are different charges. He stated that chrysler financial charges it as part of a lease, but I have never heard of it before. Does anyone know if this is a legitamate charge, or can it be waived????
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- #202 of 286
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Re: Is this right???? [geeves229]
by dodgehappy
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May 28, 2008 (7:46 am)
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Replying to: geeves229 (May 28, 2008 7:40 am)
I am pretty sure all leasing companies charge an acquisition fee as part of doing business. For the most part I do not think they are waived. The ones I have seen tend to be in the $550-800 range, but most around $600-700. Someone please correct me if I am incorrect!
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- #203 of 286
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Re: Is this right???? [geeves229]
by fredm6
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May 28, 2008 (9:12 am)
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Replying to: geeves229 (May 28, 2008 7:40 am)
I leased my T&C in March and when I signed the papers there was an acquisition fee of $700 listed. I had not heard of it before, but at that point it was too late for me to get out. Sounds like they are all doing it. It is crazy to have to pay that amount just to acquire a vehicle. After my own leasing experience in March and my Daughters last week, all that I can say is that it is a "jungle" out there when it comes to buying or leasing a vehicle today.
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- #204 of 286
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Re: Is this right???? [dodgehappy]
by fredm6
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May 28, 2008 (9:18 am)
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Replying to: dodgehappy (May 28, 2008 7:46 am)
I just did a search on Google and found an excellent explanation of lease acquisition fee. Go to Google and type in "lease acquisition fee" and then you should see about the fourth down "Earl Stewart on Cars, Lease Acquisition Fee". Hope this helps. It seems that it is just a profit for the banks or leasing companies and all of them are doing it.
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- #205 of 286
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Re: Is this right???? [fredm6]
by dodgehappy
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May 28, 2008 (9:27 am)
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Replying to: fredm6 (May 28, 2008 9:18 am)
And the dealers can usually mark up the acquisition fee some too to make more profit… it never ends!
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- #206 of 286
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Re: Is this right???? [dodgehappy]
by geeves229
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May 28, 2008 (4:02 pm)
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Replying to: dodgehappy (May 28, 2008 9:27 am)
Thanks for the info. It never ends with the suprises.... I have two dealerships telling me that they can do a money factor of .00087. I thought the money factor is suppose to be .00140. I would not be complaining if I could get a lower interest rate, but it is not consistant. Does anyone know if the .00087 money factor is available, or are they just using it to lure people into the dealership???? I am looking to lease 3 years/ 12k a year.
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