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Chrysler 300 Lease Questions

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  • Hi there Car Man!

    My husband and I are from Queens, NY and we're interested in comparing a leasing option vs. a finance. However, we don't know the first thing about leasing. So my question is what do I have to ask them in order to determine if Im getting a fair deal? I see residuals in past emails and purchase price...whatelse would I need to run this by you? :) Thank you for your time. Christina
  • Car_man,
    I've changed since posting this, what I'm looking at now is a Chrysler 300 Touring Signature Series. I would like to lease it for 4 years, with no money down. The MSRP is $30,440, I didn't get a selling price. Also I will drive it 12,000 miles a year.
    Thank You.
  • Hi chevyguy2. If you were to lease a 2006 Chrysler 300C AWD through Chrysler Financial right now for 39 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00229 and 55%, respectively. I am not aware of any resource that provides this sort of information to the general public. When negotiating your lease on this car, make sure to take the $1,000 bonus cash that is available on Chrysler Financial deals into account. I believe, but am not 100% positive, that Chrysler Financial automatically includes gap insurance in its leases at no additional charge. It charges a lease acquisition fee of $550 on all deals at signing. You can either pay this charge then or have it rolled into your car's capitalized cost. Any sort of doc fees are completely between you and the dealer and are not much more than a way to add additional profit to your deal.

    Car_man
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  • Hi Christina. 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.

    The two most important numbers for you to focus on when negotiating your lease are your vehicle's selling price and its lease money factor. These are the two main profit centers for dealers on leases. The selling prices of leased vehicles can be negotiated, just as if you were paying cash for or financing them. The money factor is important to know because dealers often have the authority to "mark-up" banks' buy rates to add additional hidden back-end profit to deals. I can tell you exactly what the money factor should be like for the car you are considering if you provide me with a detailed description of it and tell me how long you want to lease it for.

    Car_man
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  • Hi tjbennett. You definitely shouldn't lease this car for 4 years. Its 48 month lease program is terrible. You would be much better off leasing it for 39 months. Chrysler Financial's current 39 month, 12,000 miles per year buy rate lease money factor and residual value for the 2006 Chrysler 300 Touring Signature Series are .00264 and 59%, respectively.

    Car_man
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  • If I want to lease with 12,000 rather then 15,000 miles, what changes in the lease factor and residual value?
  • salc1salc1 Posts: 12
    Hi Car_Man;

    I have been looking at the 300C and Limited and am about to start negotiating with local dealers. Before I start the process, I'd like to know what the likelihood is of better incentives in January as opposed to making a deal in December.

    Thanks.
  • Hey Car_Man -

    I'm looking at leasing a 2006 300C AWD. The one I'm looking at is fully loaded....with a MSRP of $41506. Taking into account the $1000 rebate what should I expect to pay (excluding tax) for a $0 down 39 month 12000 mile lease? Residual?

    Thanks in advance for the info.
  • Hi mental8y. This car's lease money factors vary depending upon how long you lease it for. A typical 36 month lease of an '06 Chrysler 300C SRT-8 through Chrysler Financial would have a buy rate lease money factor of .00251 right now.

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  • Chevyguy2, Chrysler Financial's lease money factors are exactly the same for leases with 12,000 and 15,000 miles per year, but its 12,000 miles per residuals for leases longer than 30 months are 2% higher than its 15,000 miles per year residuals.

    Car_man
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  • That is a very good question, salc1. It is difficult to predict what manufacturers' future incentives will be like. Chrysler Financial's residual value for the 2006 300C will almost certainly drop in January, making this car more expensive to lease. The question is whether DaimlerChrysler will reduce its lease money factors or introduce additional lease cash on it to offset this drop. I suspect that this car will cost around the same to lease next month, so you probably would be better off finalizing your deal on it now when dealers are anxious to squeeze a few more sales in before the end of the month and year. As I said earlier though, it is difficult to predict exactly what will happen.

    Car_man
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  • Hey gojayhawks. If you were to lease a 2006 Chrysler 300C AWD through Chrysler Financial right now for 39 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00229 and 57%, respectively. This car's lease payment will depend upon what sort of selling price you are able to negotiate. You should be able to get some sort of additional discount from the dealer in addition to the $1,000 cash incentive that is being offered on leases of it right now. You may be able to get an idea of how much of an additional discount you should be able to negotiate by visiting the following discussion: "Chrysler 300 / 300C: Prices Paid & Buying Experience". Once you have an idea of what the selling price should be, let me know and I will work up a lease payment for you.

    Car_man
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  • Hey Car_Man -

    Thanks for the info. The sales price I have talked them down to is $38,500. Also, do you know what incentives will be available in January?

    Thanks again,
    GoJayhawks
  • You're very welcome, GoJayhawks. Thanks for the additional information. According to my calculations, if you were to lease a 2006 Chrysler 300C AWD with an MSRP of $41,506 and a selling price of $38,500 through Chrysler Financial right now for 39 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $523. Daimlerchrysler extended its December incentives through January 9th. It is difficult to say what its lease program will be like on this car after that date.

    Car_man
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  • Can you give me the money factor and residual on a 36 month (or if there is optimal length such as 39 month) lease with 10K and 12K per year. This is for the 300 SRT8. I can figure the proper payments from there.
  • Hello Car Man, I'm an X Car Guy myself. I was thinking of maybe leasing a 2006 Chrysler 300C and not looking forward to having to deal with another dealer. I'm not sure where you are but I'm located in Southern California. (not sure if rates are the same where you are) And was wondering if you might have the buy rate and residual for a 24 and 36 month lease. Also if you know what program is the best. If you can believe my local dealer has a $3000.00 dealer markup on the sticker on all his cars. Do you also have the invoice price on a fully loaded 300C with upgraded sound system and Navigation. I'm sorry I can't give you the exact sticker price of the car as I'm just starting to look and haven't gotten that far yet. I can try to price it out for you asap but if you can maybe help me with what the dealer has in the car and any incentives that might be going on at this time. Also, I've been reading some things about Trans problems with the car and wanted to know if you know anything about that too. I'm coming out of a 2004 Infiniti M45 that's being bought back by Infiniti under the lemon law and really don't want to have to deal with all that again in my next vehicle. Any help you can provide is much appreciated.

    Paul
  • I am considering leasing an SRT8. We have yet to decide on which vehicle we want, 300c SRT8 or Magnum SRT8. Can you please compare the two lease programs for me and if there is a differance in residual. The Magnum lists at 42,200 and can be bought for 39,500. The 300 list around 45 and sells at sticker. We are looking at 15k per year and wither 36 or 39 month, which ever is more attractive.

    Thanks
  • I sure can, jeffreywilens. If you were to lease a 2006 Chrysler 300 SRT-8 through Chrysler Financial right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00216 and 57%, respectively. I'm not sure if Chrysler Financial leases vehicles with only 10,000 miles per year, but I don't think that it does. On an interesting side note, as of January 1st, Chrysler Financial no longer charges security deposits on leases. In exchange for waiving its security deposit requirement it raised its acquisition fee to $700 on all models.

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  • Hey Paul. I don't believe that there is any variation in Chrysler Financial's lease program for the 2006 Chrysler 300 by region. According to the latest info that I have seen, if you were to lease a 2006 Chrysler 300C through CFC (I think that they are officially called something like DaimlerChrysler Financial Services now) for 24 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00212 and 60%, respectively. The numbers for an otherwise identical 39 month lease should be .00216 and 56%.

    A $3,000 additional dealer mark-up on this car is absolutely absurd, unless there is some sort of shortage of the "C" model that I'm not aware of. In fact, DaimlerChrysler currently has a $1,000 bonus cash incentive on this car right now that should help you to negotiate a selling price that's well below MSRP. There should be a number of Chrysler dealers in Southern California. You should shop around a little bit to see if you can get a more reasonable deal on this car. You can find the MSRP and dealer invoice price for the car that you want by visiting the following section of this site: Edmunds.com - New Vehicle Pricing. I haven't personally heard anything about frequent transmission problems with this car, but if there is a problem along these lines there is a good chance that it is being talked about in the following discussion: "Chrysler 300/300C".

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  • I'd be happy to compare these two vehicles' lease programs, txcurtis. If you were to lease a 2006 Chrysler 300 SRT-8 through Chrysler Financial right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00216 and 55%, respectively. Interestingly, the numbers for an otherwise identical lease of a 2006 Dodge Magnum SRT-8 should be a much less attractive .00318 and 51%, respectively.

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  • Thanks Car_Man:

    Received your info and appreciate all the help. I was wondering if you had the rate/residual for a 36 month lease with 12K miles per year.

    I should have my re-purchase finished in the next week or so and will be off to another local dealer to see what we might be able to put together.

    I did stop by my other local dealer and drove the 300C the other day. I was rather impressed with it. In fact I thought it drove a lot better than my M45. Much smoother and more comfortable.

    If you thought the $3000.00 was unbelievable, they had a $10,000.00 dealer market adjustment on any of their SRT8 models. I just laughed at the salesmen.

    Thanks again for your help.

    Paul
  • You're welcome Paul. If you were to lease a 2006 Chrysler 300C through Chrysler Financial right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00216 and 58%, respectively. When negotiating your deal on this car, keep in mind that DaimlerChrysler is providing a $1,000 bonus on '06 300s leased through Chrysler Financial this month. DaimlerChrysler is also providing some aggressive dealer cash on most models in February, so dealers should be anxious to strike a deal.

    Car_man
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    P.S. I got a good laugh about the $10,000 market adjustment on the SRT8 HA :surprise:
  • sah2sah2 Posts: 10
    Thought I would post my experience. Entered a dealership with knowledge gained from this site...thank you car_man! I was looking at the following vehicles:
    -Saab 9-3 & 9-5 (I had been in Saabs since 1999)
    -Infiniti G35 Sedan
    -Lincoln LS
    -300C

    After much review, test driving, and negotiating, the best bang for the buck was the 300C in my estimation. I have had the car for 3 weeks and absolutely love everything about it. The only downside is that I was unsuccessful in getting the maintenance thrown into the lease(all Saab maintenance is included).

    So here is the final:
    -Able to utilize DCX EC#
    -3 year / 15k miles per year
    -$453/month with $1500 total at drive off, including taxes.

    -300C has everything except nav system...previous experience with and novelty wears off very quickly.

    Thank you Edmunds...far and away the best tool on the 'net!
  • Car Man I need your help! I am from Pittsburgh PA and spent the whole day today trying to run numbers with a dealer to lease the 2006 300 Touring AWD. (it is not the "C" or SRT8) Quote price was 32,205 with a "selling" price of $30,900 (claiming that was their invoice price and that is what they would sell it to me for)

    36 months lease, 12,000 miles, $700.00 down (just for first month, tax, etc) came out to $539 including taxes. After reading,,,I feel a little beat! (I was seconds from taking the car home,,glad I didnt!) Can you please calculate this for me and see what you come up with!

    Thanks for your help!
    G
  • CarMan, learning alot reading this site. 2006 300C AWD 5.7, Invoice $40,254, dealer goes to $37,400, 36 mos, 12K, I want to put inception costs down only. Can I expect to lower sales price further or is that unrealistic? What would be the residual & money factor if I purchase by 2/26/06? Dealer is loaded with cars, showroom under construction, doesn't have my color but for the right deal I would choose my second. Thanks.
  • CarMan, can you tell me what the residual value is 58% of on the 300C AWD 5.7, 36 month lease. Is it MSRP including options or Invoice including options? Currently have offer of $505.16 x 36 months, $1000 out of pocket to cover 1st month, reg, plates, all taxes included. Wondering how RV percentage was calculated to arrive at the actual RV. Thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome, sah2. I'm glad that I was able to help you out. Thanks for taking the time to stop back and let us all know how everything turned out. Enjoy your new ride!

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I'd be happy to work up a lease payment on this car for you, genie0120. According to my calculations, if you were to lease a 2006 Chrysler 300 Touring AWD with an MSRP of $32,205 and a selling price of $30,900 through Chrysler Financial right now for 36 months with 12,000 miles per year, its zero down, pre-tax monthly payment should be around $459. As you can see, the payment that I came up with is quite a bit lower than the one you were quoted, even if it includes tax. Make sure that the dealer you are working with is using a money factor of .00241 to calculate your car's payment.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I'm glad that you have learned so much by visiting this site, radar521. If I am reading your post correctly, you are getting this car for several thousand dollars below dealer invoice. If this is the case and you didn't mislabel the MSRP as the invoice price, you are getting a very good deal and I doubt that you will be able to get a better price than this. If you were to lease a 2006 Chrysler 300C 2WD through Chrysler Financial right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00216 and 58%, respectively.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey radar521. Vehicles' residual values are always a percentage of their full MSRP, including the destination charge and the MSRPs of any factory-installed options. A few banks, like Toyota Financial Services have strange residualization policies, but this is how it works with most captive finance companies, including Chrysler Financial.

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