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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

#46 of 76 Re: Leasing help on 2006 Dodge Grand Caravan [brum] by patdepdry

Nov 15, 2007 (8:32 pm)

Replying to: brum (Jun 06, 2006 7:20 pm)
this is my first time on this site also. i am very confused. i am in the process of finalizing a lease(nj) on the dodge caravan that has every available option. this is my first dodge-been a gmac customer for 20 years- the lease payment that i have been quoted is VERY high compared to everything i am reading [ $535/mo 39 mo $2,000 down] is there something i am missing here?

#47 of 76 Re: Leasing help on 2006 Dodge Grand Caravan [patdepdry] by Car_man HOST

Dec 21, 2007 (3:56 am)

Replying to: patdepdry (Nov 15, 2007 8:32 pm)
Welcome patdepdry. That lease payment does sound pretty high. We're talking about a Dodge here, not a BMW or a Mercedes-Benz. The best way to get a good deal on a new vehicle is to negotiate as low a selling price as you can on it and then have the dealer calculate your monthly payment using its buy rate lease money factor. Try to get a selling price that's as close to dealer invoice as possible before the deduction of any available cash incentives. Chrysler is currently providing $1,500 lease cash plus an additional $500 to $1,000 bonus cash in select regions on this model right now. Chrysler Financial's current buy rate lease money factor for a 36 month lease of a 2008 Dodge Grand Caravan SXT is .00148. I would bee happy to estimate what this van's monthly payment should be for you if you provide me with the MSRP and selling price of the exact model that you want.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum

#48 of 76 Rate and Residual on 2008 Grand Caravan SXT by deejay2099

Dec 22, 2007 (6:06 am)

Replying to: Car_man (Dec 21, 2007 3:56 am)
CarMan, could you please provide the rate and residual numbers for a 36 month, 12K mile lease on the 2008 Grand Caravan SXT? Thanks Much.

#49 of 76 Re: Rate and Residual on 2008 Grand Caravan SXT [deejay2099] by Car_man HOST

Jan 16, 2008 (4:42 am)

Replying to: deejay2099 (Dec 22, 2007 6:06 am)
Here's the information that you're looking for, deejay2099. Chrysler Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Dodge Grand Caravan SXT with 12,000 miles per year are .00130 and 50%, respectively for consumers who qualify for its top credit tier. When negotiating your lease on this van, make sure to take advantage of the $1,500 lease cash that is available on it.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum

#50 of 76 Money Factor on a 2008 GC SXT by bigslick

Mar 04, 2008 (11:39 pm)

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!

#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
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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
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Prices Paid: Buying & Leasing Experiences Forum

Messages Page 6 of 8

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