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Dodge Caravan Lease Questions

76 messages,  Last post on Oct 04, 2012 at 10:26 AM

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What is this discussion about? Dodge Caravan, Dodge Grand Caravan, Car Leasing, Van

    

Messages Page 6 of 8

#51 of 76 Considering buying pre-leased 2005 G.C. SXT by meandm

Mar 11, 2008 (8:18 am)

Hi all, first time poster here
 
My wife and I are looking at buying a 2005 Dodge Grand Caravan SXT.
 
It's loaded.
 
A retired couple leased the van in 2005, and were (some how) able to get out of the lease early, and decided to lease a new 2008 G.C.
 
They did this all though the same dealership.
 
I've never leased before, but have researched it.
 
My questions are:
 
-) Would that retired couple get a trade-in value/credit toward the lease of their new van?
 
I ask that because dealerships sell vehicles to leasing companies (at or below "cap price"), and most likely make $$ on that transaction.
 
So, if the dealership *does* give a trade-in allowance/credit toward the lease of a new vehicle, then I would probably need to consider the trade-in value and retail value of the 2005 we're looking at much more.
 
However...
 
If the dealership does *not* give trade-in allowance, and just takes the old van off their hands because they're nice guys....then wouldn't whatever the dealership sells it for be "pure profit"...?
 
Because the way I'd see it would be:
Dealer sell to lease company, makes $$
--lease company makes $$ for 3 years
----gets turned back in to dealer after 3 years, who gives no trade-in credit
------goes out the door at $15k...this = $15k profit (right?)
 
They're asking $16,900 for it, and we're able to spend $15,000 (or less) with a $3k downpayment and anticipated $1300 trade-in (making our loan somewhere around $12k to $13k)
 
Thanks for the help!!

#52 of 76 Lease signing question by mthompxx

Mar 13, 2008 (10:47 am)

Hi, I just leased a grand caravan yesterday under the employee discount program. My Wife's Uncle works for Chrysler. The salesman gave me the discount without any control number. I signed the lease, and I have had the van for over 24 hours now. I got a hold of the uncle, and he gave me the control number. Come to find out, nieces are not eligible for the discount. The sales man said I need to get a number now, and I should get a hold of someone who works for Chrysler to get one.
 
my question is that since I already signed the lease for this amount, isn't it all said and done now. Or do I still need to get a number to keep my van at this price. I would think that if it was submitted without the control number, and I signed the lease I should be in the clear now, and not have to pay the extra 1600 price difference. Any advice I can get would be great. Thank you.
Matt.

#53 of 76 Re: Money Factor on a 2008 GC SXT [bigslick] by Car_man HOST

Apr 08, 2008 (3:46 am)

Replying to: bigslick (Mar 04, 2008 11:39 pm)
Welcome bigslick. I take it that you are a poker player . The .00130 money factor that you saw mentioned earlier is still Chrysler Financial's buy rate for a 36 month lease of a 2008 Dodge Grand Caravan SXT. All lessees are required to pay their vehicles' first month's payment at lease signing, so that would not have any impact upon your van's money factor. It is difficult for me to back into the money factor that was actually used on this deal without knowing what your van's full MSRP is. Regardless of whether the dealer charged you .00155 or .00130 this is still a pretty good deal. Don't worry about it now because your deal is already done. Just make sure to stop back here to Edmunds.com before you sign on the dotted line the next time you are in the market for a new ride . Enjoy your new Caravan.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#54 of 76 Re: Considering buying pre-leased 2005 G.C. SXT [meandm] by Car_man HOST

Apr 08, 2008 (3:57 am)

Replying to: meandm (Mar 11, 2008 8:18 am)
Welcome aboard, meandm. When the dealer leased this van to the retired couple they essentially sold it to Chrysler Financial. In order for that couple to get out of their lease early, which usually is a very bad idea, the dealer would have to purchase the van back from Chrysler Financial. The dealer definitely did not get the van for free. Even if they had, it really does not have an impact upon what it is worth on the open market. The dealer is not going to sell it to you for less than what the market dictates that someone else is likely to pay them for it just because they got a good deal on it (they probably didn't anyhow). You should be able to get an idea of how much you will have to pay for the Caravan that you are interested in by looking it up over on the Used Vehicle Pricing section of Edmunds.com.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#55 of 76 Re: Lease signing question [mthompxx] by Car_man HOST

Apr 09, 2008 (2:15 am)

Replying to: mthompxx (Mar 13, 2008 10:47 am)
Hi Matt. Unfortunately, the fact that you signed the lease papers does not mean that Chrysler will approve your deal. It sounds like the dealer just let you drive off in your van before the deal was completely finalized. If you don't get a control number, you will probably either have to give your Caravan back to the dealer or pay a higher price for it. Sorry that I don't have better news for you.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#56 of 76 Current Lease Rates on GC SXT by csteinbe

May 19, 2008 (9:02 pm)

I asked about this in another thread, but car_man seems to have the facts.
 
What's the current Chrysler Financial lease rates for a 2008 Grand Caravan SXT (25L if it matters)?
 
I was quoted 46% and .00170, and there is also a $130 annual fee on the deal sheet that I don't understand.
 
Thanks,
 
Craig

#57 of 76 Re: Current Lease Rates on GC SXT [csteinbe] by csteinbe

May 20, 2008 (8:58 am)

Replying to: csteinbe (May 19, 2008 9:02 pm)
Forgot some important details: 39 (or 36) month & 15K/yr

#58 of 76 Re: Leasing help on 2006 Dodge Grand Caravan [Car_man] by romarriott

May 22, 2008 (9:43 am)

Replying to: Car_man (Dec 21, 2007 3:56 am)
Carman,
 
   If I wanted to get an a lease amount for a 2008 Dodge Grand Caravan SXT with a couple of options. The MSRP is $30,910. I will be negotiating for the selling price of $29,500.
 
   There is a cash allowance of $2500 until June 2. How would the cash allowance work? Do you also take that off the final selling price and use that price when calculating the lease amount? Excuse the beginner questions but it sounds like you are very helpful on these things and could help me out.

#59 of 76 Re: Leasing help on 2006 Dodge Grand Caravan [romarriott] by romarriott

May 22, 2008 (9:45 am)

Replying to: romarriott (May 22, 2008 9:43 am)
Read someone else's post and forgot to mention 12k/ year and for 36-month lease.
 
Thanks

#60 of 76 Re: Leasing help on 2006 Dodge Grand Caravan [romarriott] by odymomma

May 22, 2008 (1:23 pm)

Replying to: romarriott (May 22, 2008 9:43 am)
You should be able to do much much better than 29500 on a sticker of 30,910. You're basically inviting them to stick it to you. Research the prices paid and negotiate much harder than you are. You should be around 26,500 inc. the rebate.

Messages Page 6 of 8

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