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Chrysler 300 Lease Questions

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  • Thanks for the additional information, maxrider. Let's estimate what this car's lease payment should be and see what we come up with. According to my calculations, if you were to lease a 2006 Chrysler 300 Limited AWD with an MSRP of $36,875 and a selling price of $33,472 through GMAC right now for 39 months with 12,000 miles per year, its zero down, pre-tax monthly payment should be around $478. If you were to use your trade-in allowance as a capitalized cost reduction for your lease, it would drop this car's payment to around $423. However, I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your Chrysler 300 would be exactly the same, regardless of whether you had put $2,000 down, or had made absolutely no down payment at all.

    Car_man
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  • Am I way off base in thinking I can get a 300 Touring AWD for around $350 - $360 month? I don't want any of the packages, except maybe a sunroof. What is the going price either leasing or buying and for how many years? Also I don't want to put anything down.
  • Car_Man

    Need help by 9:30AM Eastern time Friday 11/11!

    Received the following final offer from the dealer today 11/10. Is this a Good Lease Price?

    MSRP: $35,890

    Miles: 15,000

    39 Month Lease 505.36 monthly (Includes Sales Tax 6% and GAP)

    $1,000 Out of Pocket at signing (Includes 1st Month Payment & Registration for term of Lease ~ $352).

    I do not know any of the Lease details.

    Do you know the What the Residual and money factor should be on this car?

    Is this a good deal or could I have done better.

    I also found out this evening that Chrysler is now giving a $1,000 cash bonus on Leases for the 300C. The dealer did not mention it. Could be why he improved his best offer late today.

    How does this cash bonus usually work?

    Is this a good deal with the $1,000 factored into the above?

    Thanks
  • Car_Man:

    I got an internet quote from a local dealer:

    2006 Chrysler 300C MSRP $38,925.00

    Cap Cost $36,586.00 plus tax tag title fees (includes $1000 Off)

    What should I expect for Money Factor and Residual for 36 or 39 Months?

    Many Thanks,
    David
  • Here is my dealer quote:

    MSRP 38830
    Cap Cost 35586 which is invoice plus advertising dollars
    Money Factor .00229
    Residual 56%
    39 months
    12k per year
    Payment $505.87 plus State Sales Tax

    I would like some feedback on this note.

    Thanks,
    David
  • Hi tjbennett. Your exact lease payment for this car will vary depending upon a number of factors, including how long you want to lease it for, how many miles per year you need to be able to drive it, and its selling price. If you provide me with this information, along with its full MSRP, I would be happy to give you an idea of what sort of lease payment to expect on one. You can find this car's MSRP by visiting the following section of this site: Edmunds.com - New Vehicle Pricing. You may be able to get an idea of what sort of price you will have to pay for this car by visiting the following discussion: "Chrysler 300 / 300C: Prices Paid & Buying Experience".

    Car_man
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  • Hi David. 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 .00266 and 57%, respectively. The numbers for an otherwise identical 39 month lease should be .00229 and 56%.

    Car_man
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  • Hi David. The lease program that you were quoted is right in line with Chrysler Financial's current program for this car. This is a good thing. Since DaimlerChrysler is providing $1,000 bonus cash on the 2006 Chrysler 300 this month, the price that you were quoted for this car (dealer invoice) is really equivalent to around $1,000 over invoice. This is a reasonable price for this car. Something is not right about the lease payment that you were quoted though. I come up with a zero down, pre-tax monthly payment of around $487 for the car that you described using this money factor and residual value. You need to ask the dealer why the payment that you were quoted for this car is too high.

    Car_man
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  • Car_Man, please see my post in the Jeep Grand Cherokee Lease forums. You are a very popular person to get in touch with! Thanks.
  • What is the current residual and lease factor on a 2006 300C AWD from Chrysler 39 month lease. Are these rated posted anywhere. Will these rates change to be more favorable toward the end of December?

    Also, when you get a quote from a dealer, do they include GAP insurance, and any other kind of fees, like paperwork and/or disposition. And, do they include these as part of the negotiated price?
  • 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.

    Car_man
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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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