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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 - first post here. I wish I would have found this site before I signed a lease yesterday, but anyway, I am interested in finding out what the current money factor is for a base 2008 Grand Caravan SXT with no options. The post above from 1/16 says .00130 and 50% residual. Is that still current? Assuming that's 50% of MSRP + destination, my residual is dead-on. However, my money factor is greater than that quoted above, assuming I am calculating it correctly. Here are the terms of my lease: Net cap: 23874.47 Residual: 13767.50 Term: 36 months Lease Charge: 2100.63 I calculated the money factor as .00155 - did I do that correctly? The odd thing is that if I use a money factor of .00155 instead of .00130 I come up with a difference in the lease charge that is within 30 cents of a complete extra payment. I did pay one payment as part of the up-front cost - does that matter at all in the calculations? It just seems weird that the difference is an entire monthly payment. I am wondering if I got the best deal I could have, or if they adjusted things to account for the "good deal" they gave me in the negotiated price (it was a bit less than the 1% under invoice price - at least according to the invoice sheet after they added on the advertising, etc. costs). Thanks in advance!
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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!!
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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.
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Replying to: bigslick (Mar 04, 2008 10:39 pm) . 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 |
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Replying to: meandm (Mar 11, 2008 7:18 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: mthompxx (Mar 13, 2008 9:47 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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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
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Replying to: csteinbe (May 19, 2008 8:02 pm)
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Replying to: Car_man (Dec 21, 2007 2:56 am) 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.
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Replying to: romarriott (May 22, 2008 8:43 am) Thanks |
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