Last post on Jul 03, 2013 at 5:44 PM
You are in the Prices Paid - Buying & Leasing Experiences
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Dodge Caravan, Dodge Grand Caravan, Car Leasing, Van
#30 of 77 2007 Caravan lease
Feb 13, 2007 (7:10 pm)
I currently own a 1999 Dodge Neon that is completely paid off. Now that the third son has arrived, we are wanting to get a minivan. I went to the Dodge.com website and was looking at leasing comparing to buying and am leanind towards going that route. I have a couple questions since I am new to the lease game: 1) They have a lease program called Chrysler Financial Plus that is a little different than a regular lease. Do you know anything about this? (here is something about it from the site: When you've reached the end of your term, you can choose from three end of term options. You can Return the vehicle to your dealer or make a final Fixed Value Payment, or refinance the Fixed Value Payment." That leads me to question #2. My wife told me she is skeptical of leasing because when her friend's lease ran out, the dealership did her dirty on the "refinancing the Fixed Value Payment and her payment was going to be alot higher to purchase a "used vehicle at the ned of the lease than f she had just bought it new." Is this legit?
and my last question (for now) In previous posts, I see people talking about leasing demo vehicles and getting them cheaper, how do I go about that?
#31 of 77 Re: What's average rate for Dodge minivan lease? [drdsanto]
Feb 27, 2007 (3:04 am)
Hi drdsanto. That's great that you qualify for DaimlerChrysler's Employee Purchase Program. The fact that you do will ensure that you get a great selling price on the Caravan that you're interested in without having to haggle. When you ask what the going rate is now, are you asking what sort of monthly payment can you expect? If so, I would be happy to use Chrysler Financial's current lease program to estimate your van's lease payment for you. However in order for me to do so I need you to provide me with some more information, including its MSRP, the employee purchase price, how long you want to lease for, and how many miles per year you need to be able to drive it. Let me know and I'll crunch some numbers for you.
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#32 of 77 Re: 2007 Caravan lease [pigpen9]
Feb 27, 2007 (3:31 am)
Hi PigPen9. As someone who is very familiar with car seats I can completely understand why you need something bigger than your neon now . 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.
I am familiar with the Chrysler Financial Plus program. I believe that this is what is known in the industry as a balloon note program. Balloon notes are similar to leases in that they provide consumers with low monthly payments and an option to purchase their vehicle at the end of their contract for a predetermined price. The main difference between balloon notes and leases is that with leases the bank's name is on your vehicle's title, while with balloon notes yours is. Balloon notes actually are not very popular. The only places that they are really used are in areas where the tax laws make them more attractive and in New York where the since changed vicarious liability laws scared banks away from leasing. Most consumers just lease vehicles.
Having a high finance payment on a used vehicle is not really some sort of dirty trick. The end of term purchase prices of leased vehicles is set by banks and has nothing to do with dealers. Consumers who lease a vehicle pay for a certain percentage of depreciation on it over the length of their lease. Whatever portion of their vehicle's value is left at the end of their lease is its purchase price. At that time, consumers are free to walk away from their leased vehicles without paying anything or to pay cash for or finance their vehicle's purchase option price. Consumers who want to finance their leased vehicle after their lease is up should shop around for a good interest rate. They are not obligated to take one that is offered by Chrysler Financial or their dealer.
Demo vehicles are vehicles that dealers have put miles on, by using them for test drives, employee vehicles, etc... but that have never been titled so they are still technically "new" vehicles and qualify for new vehicle incentives. The problem that I personally have with demo vehicles is that dealers never seem to be willing to discount demos enough for me to personally justify purchasing what is essentially a low mileage used vehicle over an otherwise identical brand new one. If you are interested in leasing a demo vehicle, just ask the dealer that you are working with if they have any in stock.
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#33 of 77 current lease rate and residual on a 2007 DGC SXT?
Apr 18, 2007 (8:07 am)
Could you please tell me the current lease rate and residual for a no-option DGC SXT? Looking to do a 36 or 39 month lease, 12K miles/year. We still have the 2006 but my wife is not fond of the restyled 2008 DGC and we may be able to work out something. Also, I've heard Dodge has a pull-ahead program for current lease customers, up to four payments. Do you know about this program and if so, do you know how long it is on for?
As always, thanks much.
#35 of 77 Re: current lease rate and residual on a 2007 DGC SXT? [deejay2099]
Jun 07, 2007 (2:01 am)
Hello deejay2099. Chrysler Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Dodge Grand Caravan SXT with 12,000 miles per year are .00065 and 42%, respectively. The numbers for an otherwise identical 39 month lease are .00083 and 41%. When negotiating your lease on this van, make sure to take advantage of the $4,000 lease cash and $500 bonus cash ($4,500 total) that are currently available on it.
DaimlerChrysler frequently runs an early lease termination program on the Dodge Caravan. If one is available on it now, I suspect that is the case, then you should be able to get out of your current Chrysler Financial lease four months early for free.
I'm surprised that your wife doesn't like the redesigned Dodge Grand Caravan. I saw it at an auto show a few months ago and thought it was great. I'm not a minivan guy, but I was amazed by how the rear captain's seats turned around to face a table. You can even get it with satellite TV for the kids.
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#36 of 77 Lease Rate and Residuals for 2007 DGC SXT
Jul 27, 2007 (4:42 pm)
Could you please tell me the current money factor and residual rate for a 36 month lease for 15,000 miles/year? Have you heard if Chrysler will offer some great incentives to push the 2008 model? Thank you.
#37 of 77 lease car man or anyone else
Aug 20, 2007 (3:49 pm)
I was told there is a mantory bank fee to either pay up front or they roll it in with the payment. I also noticied they thru in then 425.00 trade in fee at the end of the lease which i was unhappy about.
#38 of 77 Re: lease car man or anyone else [hcop]
Aug 21, 2007 (3:22 pm)
lease car man or anyone else who can answer the question ; is there mandatory 700.00 bank fee or did i get taking for a ride.
#39 of 77 rate and res for 08 Gr Caravans
Aug 23, 2007 (12:50 pm)
Has DCFS released the residuals and lease factors for the new 2008 Grand Caravans? If so, do you know what they are? Have you been able to get a sense of what the demand will be on the vans (ie how far over invoice am I gonna have to go?)? Do you know anything about whether or not the restriction that has been on the MyGig system is still in place? Thanks for the information you share here. It is very valuable!