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What are your lease monthly payments? Dodge Durango.

maverick1172maverick1172 Posts: 2
edited June 5 in Dodge

Looking at Leasing vs buying because I only put on an average of 9,500 per year and like having new cars every few years. I never leased before and was looking at doing the 36 month with 12,000 mile lease but wondered what everyone's monthly lease payments were and if it's a much cheaper deal vs buying? I know they recommend 15% minimum down which is fine but is it worth it? I'm working on improving my credit and my CS is 670 at the moment.

Comments

  • Mr_ShiftrightMr_Shiftright CaliforniaPosts: 45,261
    edited June 5

    Lease payments are always cheaper, but of course you have no equity in the vehicle. Dodge is offering a base model Durango for $339 a month plus of course taxes, registration acquisition fee and $2995 upfront costs, so you'll be pushing $400 a month easy. Buying that same vehicle with $3000 down for 60 months term would probably end up being around $550/month. And you have equity when you sell. In the long run, it's probably cheaper to buy--in the short run, probably cheaper to lease or same-same.

    Of course, as you add options or upgrade the model, everything goes up accordingly.

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  • maverick1172maverick1172 Posts: 2

    Thanks. I get the Affiliated rewards 1% below invoice through my work so with that plus the $1500 off for leasing if I put 15% down my payments would be around $405 on a Citidel from what dodge.com shows.

  • steverstever Viva Las CrucesPosts: 41,272
    edited June 6

    Where did you get the 15% down idea? The goal in leasing is usually to put zero down, or as little as possible.

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