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Vans & Minivans Chrysler/Plymouth Voyager, Dodge Caravan Dodge Caravan: Lease Questions
69 messages, Last post on Oct 22, 2008 at 9:01 AM
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Hi CarMan, 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? Thanks PigPen9
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Replying to: drdsanto (Feb 06, 2007 9:32 am) Car_man Host Prices Paid Forum |
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Replying to: pigpen9 (Feb 13, 2007 7:10 pm)  . 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. Car_man Host Prices Paid Forum |
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Hello CarMan, 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.
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Replying to: deejay2099 (Apr 18, 2007 8:07 am) 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. Car_man Host Prices Paid Forum |
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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.
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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.
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Replying to: hcop (Aug 20, 2007 3:49 pm) |
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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!
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