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Chrysler Town and Country, Car Leasing, Van
#348 of 383 Calculate a lease payment
May 28, 2011 (7:53 am)
can some one kindly help me out? I am trying to figure out how much a lease pmt. would be for a 2011 Chrysler town & country touring L
Purchase price-$29309 after negotiating MSRP and including $3,000. in rebates and incentives
No money down
$2,200. out of pocket for taxes and fees...NY resident
36 month lease with 15K
money factor 0.032
Dealer says he can do it for $424. per month
I am also trying to negotiate for the dealer to make my last 2 pmts. on my current lease.
does this sound like a good deal?
#349 of 383 Re: Calculate a lease payment [fabbymj]
May 29, 2011 (9:19 pm)
What is the MSRP on that van? Did they tell you that $29,309 is your capitalized cost... or just your purchase price? Capitalized cost will include any fees that you are financing.
In order to figure your lease payment, you need four things...
2) Capitalized Cost
4) Money Factor (or APR)
#350 of 383 Re: Calculate a lease payment [jensen3]
May 30, 2011 (5:16 am)
Thanks very much for your reply. Well what he said was The MSRP is $34,975. I had researched the true market value on this site and I printed it all out which included the Invoice price. I also had a print out of rebates and incentives. I took those out of my purse and said. "I should be able to get this vehicle for $29.819. after rebates and incentives."
He was quite surprised I had all this info. He than looked it all over and began to negotiate. $32309. Minus $3000. in rebates= 29309. So is that figure the cap cost? He said the residual would be 47% because we were leasing for 36 months with 15K. and the Money factor was 0.032
I came home and looked up how to calculate a lease, but I could not figure it out. I keep getting stuck its really confusing. Any help you could give me would be truly appreciated. I am suppose to make the deal tomorrow.
#351 of 383 Re: Calculate a lease payment [fabbymj]
May 30, 2011 (12:30 pm)
You would think that is the capitalized cost... but, that's how they get you. When you lease, they tack on fees that get the price back up there. Some of the fees are legit... some are negotiable. They like to make it confusing... give them a call and ask them what they are using for a capitalized cost. I'm assuming it's higher than the $29,309 that you expect. Then ask what they are including in that total... try to get them to itemize it if possible. There will likely be a $795 Aquisition Fee (that's legit and firm), but anything else will likely be negotiable.
Once you have that capitalized cost, you can use the formula here on Edmunds to figure what you should be paying. If you come within $10-$15/month... and are comfortable with their offer. Go for it!
As I'm typing this message, I'm on the phone with my dealer and he just hit the magic number! I'm going in tomorrow to sign the paperwork and I'll be back here to report my final deal.
#352 of 383 Just leased 2011 T&C Touring-L
Jun 29, 2011 (10:32 am)
We are signing the papers today.
It is the T&C Touring -L
Remote Proximity Keyless Entry
Driver Convienience Group
$12K miles a year
26 mo lease
$345.22 a month
$750 total to close
They bought me out of my current Honda CRV (lease not due up until NEXT June) They said the used car market is hot right now, and so it was pretty much a wash. They paid off my lease- but I only received $16 in equity.
I think we got a pretty good deal!
#353 of 383 Re: Just leased 2011 T&C Touring-L [sahm2kga]
Jun 29, 2011 (4:54 pm)
I meant 36 mo lease (not 26)
Jun 29, 2011 (9:16 pm)
Can I get the residual and the money factor on the following for both a 36 and 39 month lease?
Chrysler T&C Limited w/power sunroof, power rear fold seats, and load leveler (MSRP is ~$41.5)?
#355 of 383 Re: 2011 T&C Limited [johnnyb_m1]
Jun 29, 2011 (9:22 pm)
The lease is with 15k miles per year.
#356 of 383 Re: Just leased 2011 T&C Touring-L [sahm2kga]
Jun 30, 2011 (6:47 pm)
Sounds like a really nice deal! Is the $345.22 per month including TTL? Could you tell me what your MSRP on the vehicle is and your final cap cost. I would love to match that deal here in Cincinnati.
I have a Honda Oddysey with 4 lease payments left trying to decide if I should jump ship to a T&C. Thanks in advance.
Jul 30, 2011 (7:37 am)
Rotors went before the first oil change was due.... ha ha ha...