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Dodge Caravan Lease Questions

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Comments

  • daveguy71daveguy71 Posts: 4
    To make a long story short Our Lease saga goes like this:

    On Sunday 5-18-08, I traded in a 2001 Dodge Intrepid R/T and 2003 Chevy Malibu with trade in values of $2000 and $3500 respectively.
    The Lease was for 256.23 per month.

    Monday 5-19-08 I decided not to trade in the Intrepid for $2000, I gave them $2000 cash instead. The lease was rewritten to reflect the cash versus trade-in.

    Friday 5-23-08 Finance guy calls and said that he had made an error of a few cents and could I come back in to resign the paperwork. I told him it would have to be on Monday 5-26-08. I could not make it on Monday and he called and left a voicemail asking me to come in on Wednesday.

    I called Tuesday 5-27-08 but he had already left for the day, so I talked to one of the other finance guys. I asked him to check on the paperwork to see what the monthly payments were, he said $305+. I then asked him what the value of the trade in of the Malibu was and he said $2000.

    Is it legit for him to make such a drastic change to the Lease contract.

    BTW we went on a small trip over Memorial Day weekend and now have over 900 miles on the van.

    Don't know what to do.

    Any help would be great.

    Thanks
  • scoutllscoutll Posts: 40
    Did you already sign a contract for the original payment? If so, I would refuse to sign a new one. If you didn't sign yet, tell them they can have their used van back, then take the Malibu and look somewhere else.
  • sarah3232sarah3232 Posts: 3
    Can you negotiate the price of a new car for lease? Or is the price they give me (including incentives) the bottom line?
    Thanks
  • jen_bjen_b Posts: 7
    Most certainly, yes, you can negotiate the price of the vehicle on a lease just the same as if you were purchasing it! I am currently negotating on a jeep liberty lease and they have agreed to $400 UNDER dealer invoice price.

    I would take the time to build the exact vehicle you are buying on edmunds.com and it will tell you the dealer invoice price vs. the MSRP and it will also tell you an average of what others are paying for that vehicle. It also depends on what type of vehicle you are looking to buy, obviously with my deal, SUV's aka "gas hogs" are currently not too popular with the current gas prices, and dealers are quite desperate to sell, so they are negotiating heavily to move them off the lots.

    I would not go into buying a new vehicle until you know the dealer cost, that is your best tool to negotiate, and once they know you have that information, it really is quite easy to negotiate. Good Luck to you. :)
  • jen_bjen_b Posts: 7
    I should also mention that the $400 under invoice price is before any of the incentives are deducted, so after all the incentives, I am getting it for $4400 under invoice. The incentives do not come off the dealerships bottom line, so they should not be considered when negotiating, Chrysler is offering the incentives, not the dealership!
  • I note a lack of activity in this forum since Chrysler Financial quit leasing.

    Does anyone have experiences to share about what Chrysler/Dodge is offering to customers whose lease is ending?

    I am leasing the above mentioned vehicle and its lease ends in June 2009. My lease is for 27 months @ 12K per year, $199 a month, and my end of lease buyout is $14K plus tax.

    I would LOVE to extend this lease, but I'm sure that's not going to be an option :cry: I'm seriously thinking the buyout is a valid option even though all of the previous advice seemed to be against doing that.
  • I had an incident with Dodge in Canada that I hope is okay to share here with the readers of this topic. Very educational and hopefully will help others when they try to close their old lease.

    I leased a Dodge Grand Caravan in 2001 and paid ~$500/month for 48 months. I returned it 40 months later without any penalties because I got a new 2005 Dodge Caravan and leased it again for 48 months at $370/month. I got tired of Vans so I recently purchased a Dodge Journey which was an excellent decision, I feel. I have it for about 2 months now and it is great for the price.

    When I made the deal with the sales person at the dealership I told him that I have 5 months remaining on my lease, will you take over that lease if I bought a new car from you ? He said yes, without a problem. He even calculated this price of ~$1900 into the deal and said that it won't be an issue.

    I spoke with others who have leased cars in the past and returned the cars early to get new cars. They confirmed that they never had to sign anything for the old card when they picked up the new car.

    I received a letter from Chrysler Financial last week to advise me that I owe them ~$1500 on my lease. I called my sales person and found out that he was only going to pay for 1 month of the lease and I will have to pay for the reaming 4 months. I went down to the dealer and spoke with him and the manager. Neither of them was helpful and all I heard was "I understand but...". I explained to them that it would make no sense to me to carry 2 car payments for the next 4 months had I known this was the deal. I reminded them that my wife was there when I mentioned the 5 months to him. He didn't care, sale was done and he wants nothing to do with me.

    Very unfortunate situation for which I hope others will learn from. I am taking the dealer to court because I cannot afford to pay this $ figure to Chrysler Financial. Also, I got the media involved to make sure this scam does not happen again to anyone else, a complete waste of time.

    Any suggestions ? Has anyone else gone through this before ?
  • phred84044phred84044 Posts: 11
    edited January 2011
    Can anyone provide current lease rates and incentives for a both the 2011 Grand Caravan Mainstreet and Crew models, 12k miles per year, 36 month lease.

    Thanks in advance.
  • a98gsxra98gsxr Posts: 1
    edited February 2011
    Dodge Credit doesn't lease vehicles anymore. Their value didn't hold up enough for them to return a profit on the off leased vehicles.
  • shiposhipo Posts: 9,152
    The fact that "Dodge Credit" doesn't lease Caravans has absolutely nothing to do with the fact that Caravans don't hold their value (any car can be lease at a profit regardless of its expected resale value), and more because there is no such an entity as "Dodge Credit".
  • Hi phred84044. While it is true that Chryselr Financial is not Chrysler's captive finance company any longer, one can indeed still lease a Dodge Caravan if they want to. One of the banks that Chrysler has an affiliation with is Ally (the former GMAC).

    Ally's current base lease rate and residual value for a 36 month lease of a 2011 Dodge Grand Caravan Mainstreet with 12,000 miles per year are 2.0% and 49%, respectively.

    The numbers for an otherwise identical lease of an '11 Grand Caravan Crew are 0.5% and 48%.

    There's also cash incentives on leases of this van, but they vary by region. I would be happy to try to give you an idea of what they're like in your area if you let me know what state you're in.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • huskie13huskie13 Posts: 9
    I am looking at buying either a 2011 Grand Caravan R/T or the Town & Country Touring L
    What are the current rates and residuals for the R/T and Town & Country
    looking at 12K or 10K per year with either a 36 or 39 month term (Whichever is better)

    We are in IL 60074

    Thanks
  • jpfjpf Posts: 496
    With all due respect, you need to get everything in writing. That is, you needed to get in writing that the previous lease payments were waived. Never trust a car salesperson's "word."
  • steverstever YooperlandPosts: 40,012
    If you bought a Chrysler "Man Van" like this one, http://edmu.in/Nyzoly, a reporter would love to chat with you about it. Please email PR@edmunds.com no later than Wednesday, October 10, 2012 and include your daytime contact information.

    Moderator
    Need help navigating? stever@edmunds.com - or send a private message by clicking on my name.

  • seb7seb7 Posts: 7
    Hi Car_man,

    Could you provide MF and res for Grand Caravan SE for July in Illinois? Thanks!
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