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2014 Dodge Durango Lease Questions

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  • kyfdxkyfdx Posts: 29,179

    @bigblockc3 said: Hello again... Checking Back. Still Looking at the 2014 5.7L Durango AWD R/T & the Durango AWD Citadel. We will put no more than 10,000 per year on it. Can you please provide the following for "each?" 1. Money Factor, 2. Residual, 3. Lease Cash / Advertised is $2,000 cash allowance? 4. Factory to Dealer Lease cash (usually undisclosed), 5. Any other lease incentives?, 6. Hold Back (3.00%?), 7. Terms: 24, 36, 39 & 48... 8. *Does engine size or transmission options affect residual % value in either of the two trims?

    Thanks once again!

    GEORGE

    R/T: .00026 MF and 52% residual for 36mo, 10K/yr.
    .00031 MF and 62% residual for 24mo, 10K/yr

    Citadel: .00015 MF and 51% for 36mo, 10K/yr
    .00017 MF and 60% residual for 24mo, 10K/yr.

    You can find the answers to 3), 4), 5) and 6), by using the shopping tools at the top of the page, under the Car Research tab.

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  • kyfdxkyfdx Posts: 29,179

    @bigblockc3 said: Hello again... Checking Back. Still Looking at the 2014 5.7L Durango AWD R/T & the Durango AWD Citadel. We will put no more than 10,000 per year on it. Can you please provide the following for "each?" 1. Money Factor, 2. Residual, 3. Lease Cash / Advertised is $2,000 cash allowance? 4. Factory to Dealer Lease cash (usually undisclosed), 5. Any other lease incentives?, 6. Hold Back (3.00%?), 7. Terms: 24, 36, 39 & 48... 8. *Does engine size or transmission options affect residual % value in either of the two trims?

    Thanks once again!

    GEORGE

    R/T: .00026 MF and 52% residual for 36mo, 10K/yr.
    .00031 MF and 62% residual for 24mo, 10K/yr

    Citadel: .00015 MF and 51% for 36mo, 10K/yr
    .00017 MF and 60% residual for 24mo, 10K/yr.

    You can find the answers to 3), 4), 5) and 6), by using the shopping tools at the top of the page, under the Car Research tab.

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  • bigblockc3bigblockc3 Jersey Shore, NJPosts: 35

    Found Hold Back and Incentives under tabs provided - Thank you! The advertised incentives match with what Edmund's advises... *Unfortunately, the factory to dealer "lease-cash" is not disclosed anywhere? I guess I will need to estimate that number. Most dealers receive at least a $1,000 from the factory to help move older inventory for the new model year units... Before I begin negotiating, can you provide the break-down for terms 39 & 48 as you did for 24 & 36? The residuals & MFs will be poor but I'd like to see it just in case... ***Thanks for ALL your help! George

  • bigblockc3bigblockc3 Jersey Shore, NJPosts: 35

    Another question... With regard to money factor. I'm shopping for a client's son as well who may fall into tier 2 or 3. *Do you have MF info for these as well?

  • kyfdxkyfdx Posts: 29,179

    @bigblockc3 said: Found Hold Back and Incentives under tabs provided - Thank you! The advertised incentives match with what Edmund's advises... *Unfortunately, the factory to dealer "lease-cash" is not disclosed anywhere? I guess I will need to estimate that number. Most dealers receive at least a $1,000 from the factory to help move older inventory for the new model year units... Before I begin negotiating, can you provide the break-down for terms 39 & 48 as you did for 24 & 36? The residuals & MFs will be poor but I'd like to see it just in case... ***Thanks for ALL your help! George

    R/T: .00026 MF and 44% residual for 39mo, 10K/yr.

    Citadel: .00015 MF and 42% for 39mo, 10K/yr

    I don't have any 48 month numbers.... you can see why 36 months is the longest term you should consider on this model..

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  • kyfdxkyfdx Posts: 29,179

    @bigblockc3 said: Another question... With regard to money factor. I'm shopping for a client's son as well who may fall into tier 2 or 3. *Do you have MF info for these as well?

    Money factors are good for Tier 1 or 2... for Tier 3, add .00060

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  • bigblockc3bigblockc3 Jersey Shore, NJPosts: 35

    That's VERY interesting? So the MF remains the same regardless of Tier 1 or Tier 2? I assume that if a borrower falls into Tier 2, underwriting may require more money down or perhaps look for other compensating factors before approving the loan? Tier 3 credit has a MF which is three (3) to five (5) times GREATER than the first two tiers. *Pretty steep! Chrysler actually advertises a 48 month lease; However, residuals must be horrible. I certainly agree that 36 months is the longest term anyone should take for a lease in this case. Thanks for taking the time to clear this up

  • top_sealtop_seal Posts: 10

    In NY, I am looking at a Dodge Durango both SXT and Limited (my wife wants leather) and would like the MF and Residual for 36 mo/12k mile lease. The info at cars.com/go/alg makes me think the lease will be very expensive due to poor residual (as compared to Highlander, Santa Fe, etc)

  • kyfdxkyfdx Posts: 29,179

    @top_seal said: In NY, I am looking at a Dodge Durango both SXT and Limited (my wife wants leather) and would like the MF and Residual for 36 mo/12k mile lease. The info at cars.com/go/alg makes me think the lease will be very expensive due to poor residual (as compared to Highlander, Santa Fe, etc)

    .00015 MF and 51% for the Limited. For some reason they aren't supporting leases of the SXT, this month.

    You have to take everything into account, not just the residual. Money factor and incentives are just as important.. I doubt you can lease a Highlander any cheaper, this month, but maybe the Santa Fe.

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  • top_sealtop_seal Posts: 10

    Dealers willing to agree to low cap cost on Santa Fe GLS AWD are awaiting shipments due in mid-Aug and those would be best deals. so right now, I find the Pathfinder SL as the best deal in hand, but Highlander XLE is close behind - both in the upper $300s/month. The Truecar.com guaranteed quote is the best to get to a low cap cost. Edmunds was higher, but not too bad. Costco Auto quotes were much higher and not worthwhile.

  • bigblockc3bigblockc3 Jersey Shore, NJPosts: 35

    Info provided here is GREAT! Okay, we're now looking at a Durango Limited (AWD), V6... Need MF & Residual for 10K miles over 36 months. May grab this one today if the deal holds true. THANKS! GEO

  • MichaellMichaell ColoradoPosts: 5,648

    @bigblockc3 said: Info provided here is GREAT! Okay, we're now looking at a Durango Limited (AWD), V6... Need MF & Residual for 10K miles over 36 months. May grab this one today if the deal holds true. THANKS! GEO

    .00015 and 52%

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  • jblpsychedjblpsyched Posts: 13

    Hi, can I please have the current MF and residual for a 2014 SXT AWD leased for 36 months at 12K miles per year? Also would you expect that if I wait a month or two for 2015 models to arrive that I might get a better deal on a new 2014? Thanks!

  • MichaellMichaell ColoradoPosts: 5,648

    @jblpsyched said: Hi, can I please have the current MF and residual for a 2014 SXT AWD leased for 36 months at 12K miles per year? Also would you expect that if I wait a month or two for 2015 models to arrive that I might get a better deal on a new 2014? Thanks!

    What state is this for? Chrysler has given us regional numbers for July.

    As far as getting a better deal on a 2014, that may be true with regards to the selling price, but the residual and MF may be affected, and not to your benefit.

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  • kyfdxkyfdx Posts: 29,179

    @jblpsyched said: Iowa

    For some reason, the SXT doesn't have a supported lease from Chrysler Financial for July.. Every other model has reasonable lease terms.. .but, not the SXT

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  • jblpsychedjblpsyched Posts: 13

    So does that mean I should wait until August or what do you recommend?

  • kyfdxkyfdx Posts: 29,179

    @jblpsyched said: So does that mean I should wait until August or what do you recommend?

    They didn't have one last month, either... Can you pick a different trim line? SXT Plus? Limited, R/T or Citadel?

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  • bigblockc3bigblockc3 Jersey Shore, NJPosts: 35

    Can you please provide MF & Residual for a Durango AWD, Ltd with V6... 12K miles for 24 months... THANKS! GF

  • MichaellMichaell ColoradoPosts: 5,648

    @bigblockc3 said: Can you please provide MF & Residual for a Durango AWD, Ltd with V6... 12K miles for 24 months... THANKS! GF

    .00017 MF and 60%.

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  • kyfdxkyfdx Posts: 29,179

    @jblpsyched said: SXT Plus

    2014 SXT Plus AWD, 36mo, 12K/yr:

    .00024 MF and 52% residual

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  • bigblockc3bigblockc3 Jersey Shore, NJPosts: 35

    THANK YOU!!!

  • jblpsychedjblpsyched Posts: 13

    thank you very much.

  • jblpsychedjblpsyched Posts: 13

    So I am negotiating my best lease deal for 36 mos/12K miles per year on a 2014 Durango SXT plus AWD w/Customer Package 23B, Popular Equipment Group, Tow package, and 8.4" touchscreen. MSRP=$37,975, Actual Sales Price after rebates/discounts=$34,475, Value of my trade-in (2002 Merc Mountaineer)=$1500. The dealer has agreed to include all fees and sales tax into the monthly payment of $435 but is insisting that the first monthly payment be made at the time of signing. I confirmed that this is the actual first monthly payment and not a nickname for another fee--in other words there will be only 35 payments left on the 36 month lease. My question: is this a trick of some sort or should I legitimately view the first payment due at signing as non-negotiable (for this dealer at least) and reasonable?

  • MichaellMichaell ColoradoPosts: 5,648

    @jblpsyched said: So I am negotiating my best lease deal for 36 mos/12K miles per year on a 2014 Durango SXT plus AWD w/Customer Package 23B, Popular Equipment Group, Tow package, and 8.4" touchscreen. MSRP=$37,975, Actual Sales Price after rebates/discounts=$34,475, Value of my trade-in (2002 Merc Mountaineer)=$1500. The dealer has agreed to include all fees and sales tax into the monthly payment of $435 but is insisting that the first monthly payment be made at the time of signing. I confirmed that this is the actual first monthly payment and not a nickname for another fee--in other words there will be only 35 payments left on the 36 month lease. My question: is this a trick of some sort or should I legitimately view the first payment due at signing as non-negotiable (for this dealer at least) and reasonable?

    First payments are almost always due at signing, so you would then have 35 payments remaining on your lease.

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  • jblpsychedjblpsyched Posts: 13

    Thanks for the reply. So now I've got a dilemma: we've agreed on the terms/price/trade-in value described in my last message, and the dealer agreed to 52% residual value and MF=0.00024 but they are insisting on a $435 monthly payment. When I enter these same figures into the Edmunds lease calculator the payment comes out to be $406. If their math doesn't add up (which means they are hiding something?) then is it worth my time to try to point this out and get them to reduce the payment or should I just take this to mean they are dishonest and move on to another dealer?

  • MichaellMichaell ColoradoPosts: 5,648

    @jblpsyched said: Thanks for the reply. So now I've got a dilemma: we've agreed on the terms/price/trade-in value described in my last message, and the dealer agreed to 52% residual value and MF=0.00024 but they are insisting on a $435 monthly payment. When I enter these same figures into the Edmunds lease calculator the payment comes out to be $406. If their math doesn't add up (which means they are hiding something?) then is it worth my time to try to point this out and get them to reduce the payment or should I just take this to mean they are dishonest and move on to another dealer?

    Using your MSRP and selling price from the previous message with the 52% residual and .00024 MF, I get a pre-tax payment of $422.12 for 36 months. 7% sales tax takes the payment to $451.67 - spot on with the dealer.

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  • jblpsychedjblpsyched Posts: 13

    At the risk of appearing dense on a Friday afternoon, I'm not following you. The capitalized cost=34,475, the trade-in value=1500, the residual value=19,747, and for 36 mos at 12K miles per year I get monthly payment of $406. Am I missing something somewhere? How did you come up with a pre-tax amount when the dealer included sales tax? And the dealer came up with $435 (not $451.67)??? Thank you in advance for helping me understand this.

  • MichaellMichaell ColoradoPosts: 5,648

    @jblpsyched said: At the risk of appearing dense on a Friday afternoon, I'm not following you. The capitalized cost=34,475, the trade-in value=1500, the residual value=19,747, and for 36 mos at 12K miles per year I get monthly payment of $406. Am I missing something somewhere? How did you come up with a pre-tax amount when the dealer included sales tax? And the dealer came up with $435 (not $451.67)??? Thank you in advance for helping me understand this.

    You aren't following me because I was going in the wrong direction :-)

    I didn't take into account the $1500 trade equity. When I reduce the net cap cost to $32,975, I get a pre-tax payment of $380.16 and a post-tax (7%) payment of $406.70.

    Ask the dealer to show you how the trade is affecting the cap cost. You and I are on the same page now - we just need to get the dealer there, as well.

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