Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





2013 and earlier Dodge Charger Lease Questions

135

Comments

  • Hi mike513. Chrysler Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Dodge Charger SXT 2WD with 10,500 miles per year are .00118 and 51%, respectively.

    Edmunds.com has a calculator that you can use to calculate your vehicle's payment: Edmunds.com Lease Calculator. Also, you can always use the formula that is outlined in the following article to calculate your monthly payment manually: Calculate Your Own Lease Payment.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hello Car_Man,

    I'm a regular reader of your posts, but now a new member to this great Forum. As a follow-up to the 08 Charger SXT lease question, I wanted to inquire about an R/T. How does this deal rate with the following factors:

    39 month term
    10,500 miles per year
    52% residual value
    .00311 money factor
    $3000 rebate
    $500 down
    $31,430 MSRP
    $29,100 Selling Price
    $447.63 Total Monthly Payment (tax included @ 7.75%)

    What are the current money factors for the R/T and/or the Daytona R/T?

    Thanks, I appreciate your input and look forward to future posts.

    OCcarbuff
  • Chrysler just came out with a new lease for the Dodge Charger "SE Plus".
    They list the payment as 24 months @ $129/month with 10,500 miles per year.
    this statement is embedded in the lease terms:-
    "The Lease payments below are before any fees/taxes and include no more than $1999 due- at-signing (down payment plus 1st month payment)."
    What does it mean and what is the residual and money factor...??
    This is in Michigan.
  • When I lease a vehicle in Michigan, the dealership (TAMAROFF), charges me a "RED TAX". This is the tax on whatever rebate Chrysler gives on the vehicle.
    example:
    MSRP = $34,000
    Dealer rebates = $3000
    RED TAX = $180.00 (Michigan sales tax is 6%)
    Is this legal in michigan ...????
  • kyfdxkyfdx Posts: 31,059
    I'm guessing that RED is short for Cap Cost Reduction..

    In general, factory rebates, or any other downpayment, paid upfront on a lease (or purchase) is taxable.

    regards,
    kyfdx
    Host-Prices Paid Forums

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Welcome OCcarbuff. I'm glad to hear that you read the forums so much. The money factor that you were quoted for the Charger R/T that you are interested in is way too high, unless you're talking about the SRT-8 version of the Charger. Chrysler Financial's current buy rate lease money factor and residual value for a 39 month lease of a 2008 Dodge Charger R/T 2WD with 10,500 miles per year are .00253 and 51%, respectively. This car's 36 month numbers look a little better at .00189 and 52%.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Greetings mandrake2. According to the latest information that I have seen, Chrysler Financial's lease program for the Dodge Charger is nothing to get excited about. Its current buy rate lease money factor and residual value for a 24 month lease of a 2008 Dodge Charger SE with 10,500 miles per year are .00323 and 61%, respectively. If you really want to lease a Charger, the best way to get a good deal is to look up the dealer invoice price for the exact model that you want in the New Vehicle Pricing section of Edmunds.com, subtract the $3,000 lease cash that is currently available on it, add a few hundred dollars back for the dealer, and see if you can find a dealer to lease you the car that you want at that price.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Can you give me approx LEASE payments for the following cars below. Is it advantageous to go longer term or short?

    48 mo- 15k year

    2008 Dodge Charger SXT,

    msrp 26385.00, invoice 24,545, new car book 25,540

    2000 lease money back that i'll use for down payment.

    Where can I find out what cars are in high demand?

    In your opinion what should I pay for each?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi lewielew. Let's work up a sample lease payment on this car and see what we come up with. According to my calculations, if you were to lease a 2008 Dodge Charger SXT that has an MSRP of $26,385 and a selling price of $23,045 ($500 over invoice minus the $2,000 cash incentive) through Chrysler Financial right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $338. I worked up a 3 year lease for you because Chrysler is not currently providing much in the way of support on 4 year leases of this model right now. The 36 month term is a better deal.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • wolfews6wolfews6 Posts: 13
    My local paper (NW Ohio) has a 2008 Charger SE plus pkg for $109/ mo for 10,500 mi/yr and 24 mo. This is with $1998 down (includes first months pymt) and also includes employee discount and lease loyalty.

    Does anyone know the 24 month residuals values for the SE plus, the R/T and the AWD R/T? It would also be helpful to know the money factor for each.

    With the SE Plus I estimate that a $0 down sign and drive lease including taxes would be about $220.

    I would like to lease an AWD RT, but depending on the residual and money factor it could be $400+ a month.

    I plan to contact the dealer in the next couple of days. If I know the residual and money factors on these cars I will know if they are trying to rip me off on the R/T since I really do not want the smaller engine.
  • wolfews6wolfews6 Posts: 13
    I was quoted $419 a month $0 down for an AWD R/T with moonroof 10.5k/yr 27 mo. This included lease loyalty and employee discount. MSRP $34,730

    I was also quoted $491/mo $0 down on a R/T R. Pkg that had HID's, NAV, Blue tooth, moonroof this was 10.5k/yr 27 mo. This included lease loyalty and employee discount. MSRP $39,855
  • wolfews6wolfews6 Posts: 13
    Charger R/T has a 57% residual and a .00199 money factor. This is what my dealer just quoted for a 27month 10,500 mi/yr lease.

    This was specifically on the R package car with the $491 pymt
  • wolfews6wolfews6 Posts: 13
    How do these figures compare to what others are acheiving.

    Are these to high. I think they seem expensive.
  • chrisazchrisaz Posts: 10
    Great Forum - thanks so much!!!

    Can you provide the money factor and residuals for a 2008 SRT-8? I'm looking at 36 months (or possibly shorter) and 15k miles per year. I'm in Phoenix AZ

    Thanks again
  • mandrake2mandrake2 Posts: 3
    Thanks Car_man, and sorry for the delay.
    I managed to snag a Charger SE Plus for $500 out of pocket, which includes the first month's rental, The lease is for 27 months, 10,500 miles/year and a payment including taxes of $218.00 a month.
    Car performs well, but seems a little heavy on gas compared to the Crossfire (not much of a comparison).
  • wolfews6wolfews6 Posts: 13
    chrisaz- I do not have the residuals that you are looking for however I gained some inside info when I leased my Charger RT with the road & track package.

    The money factor is actually a range and the dealer can decide how much to charge. I do not know what the range is (i.e. highest and lowest possible money factors) but it can vary up to about 4% as an APR. Of course to get an approximate APR multiply the money factor by 2,400.

    I ened up with a 1 pay lease which dropped the money factor from about 4% apr to 2%. The original money factor quote from my dealer was higher than 4% and the dealer was only making ~$200 on the 4% , therefore I think the 4% is the bottom on a 27 month lease.
    If you do a search on cars.com these are listed link title and the money factor is much higher than my dealer charger.

    My advice to you is to NOT lease an SRT8. Once you go to the dealer you will find out it is NOT the cheapest and it will not change your payment by much rather than purchasing.

    There are a lot of low mileage (under 5k) used SRT8's that have already paid the gas guzzler tax and are about $35k fully loaded. With gas at $4 a gallon some people are looking to unload their gas guzzlers "cheap"I would look used and find your own financing. Car loans are under 5% now at most credit unions.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi chrisaz. Chrysler Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Dodge Charger SRT-8 with 15,000 miles per year are .00276 and 57%, respectively.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    No problem, mandrake2. Thanks for stopping back to let us know how everything turned out. Make sure to stop by the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience with others. Enjoy your new ride :shades: .

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • vgxvgx FloridaPosts: 40
    Hello,

    Looking through this thread, it looks like the Charger RT money factor and residual were .00189 and 52% back in February for a 36 month lease with 10,500 miles per year. Have these numbers changed at all? I am in Central FL and thinking about working out a deal for an RT this month.

    Thanks!!
  • samminsammin Posts: 39
    Hi Car-Man
    I am looking at a pretty well optioned 2008 R/T AWD. Do you have residuals and money factors for a 36 month/12,000 mile lease?

    Also, what do you think of the $2.99 gas offer on a vehicle such as this vs. rebates, which I think are $3,000-$4,000 right now?

    Thanks!
  • samminsammin Posts: 39
    Hi guys-

    I'm new to the forum, it's a great site!

    I’ve admired the Charger since it came out, and I think I’m ready to pull the trigger on one.

    Here is the lease deal I was offered:

    2008 Dodge Charger RT AWD
    Black/Dark Slate
    Fully loaded - Package 29P, DVD-My Gig, rear seat entertain, HID, sunroof, basically the whole shebang.

    MSRP: $40,345
    Selling Price: $38,253
    less $3,000 from Dodge
    Final selling price: $35,253

    36 months
    51% resid
    .00206 money factor
    Down payment: $2500

    Out the door payment, including 8.39% NY tax, all dealer fees, DMV fees, tire waste fees, etc. = $544.00 per month.

    Off hand it seems pretty good, but I would like to get another $700 off which would get it down to $525

    Any thoughts?
  • wolfews6wolfews6 Posts: 13
    The selling price seems a little high to me. Find out what the invoice price is and pay that or less. Check out the charger forums and ask there as well before you pull the trigger. I found this site worthless when I was in the buying process. You are lucky if anyone (even Carman) replies to you within a week.
    How many miles a year is your lease?
    You will be paying almost $600/ mo to lease this Charger. You might be able to lease an SRT8 for that price. My car stickered for $37,875 R/T with R pkg, moonroof and P pkg. My 27 month lease is significantly lower, but I also qualified for lease loyalty an EP pricing.
  • wolfews6wolfews6 Posts: 13
    You could buy this car for less per month (just an example) link title

    This website keeps messing with the link so just go to the chargerforums in the cars for sale section to see what I am referring to
  • vgxvgx FloridaPosts: 40
    As far as pricing goes, they are probably hungry to make a sale. You should get invoice minus at least the $3,000 incentive. Edmunds also indicates there is $400 trunk cash in every Dodge sold in 2008, so you might want to shoot for that as well.

    There aren't too many people willing to buy fully loaded V-8's right now from what I've seen. ;)
  • lunchmeatslunchmeats Posts: 8
    Sounds like a great deal. Where did you get the car. What is the MSRP, is it rear wheel drive, who was the sales guy?

    Thanks
    Ivan
  • h0ld3mh0ld3m Posts: 2
    Brilliant Black Charger R/T AWD
    Customer Pref Pkg 29P
    Protection Group
    MyGIG w/out Nav

    MSRP: 36,515
    Cap Cost: 32,515 (w/emp disc)
    Cap Reducts: 4,500 (3k natl incen, 500 rgnl incen, 1k lease loylt)

    Net Cap: 31,377 (incl tax,title,lic,doc)

    Resid: 52%
    MF: 0.00206
    Term: 36 mos
    Mileage: 10,500

    No money down, waived payment until July.

    Mthly $$$: 449
  • rysterryster Posts: 525
    Total allocated gallons of gas for a Dodge Charger RT on the $2.99 deal is 2,000 gallons over the 36 month period. Additionally, it only covers 87 octane. If you want to run 89, then the deal is $3.14, if you want to run premium the deal is $3.29.

    It all boils down to how much you drive and how high gas prices go. Based on today's national average of $4.02 for 87 octane, 2,000 gallons of gas would be $8,040.00. Your price is $2.99/gallon for a total of $5,980.00. The net savings under the program would be $2,060.00. Of course, as gas prices fluctuate so does the value of the incentive.

    There is also $1,000 bonus cash under the gas incentive, so the full current value of the incentive is $3,060...$60 more than the $3,000 cash back incentive.

    Would you rather pay more for the vehicle and get subsidized gas for 12,000 miles per year, or would you rather pay less for the vehicle upfront and gamble on where gas goes?

    Also keep in mind that the gas incentive has certain windows each year. The "years" end every 7/31, so year 1 ends on 7/31/09, year 2 ends 7/31/10, and year 3 ends 7/31/11. If you don't use all of the 666 allotted gallons each year you forfeit the remainder and they don't roll over. In that case, you wouldn't be using the full incentive.

    Quick math assuming $4.02 gas, and sticker price of $40,000

    Gas incentive:
    $40,000 sticker

    $38,000 negotiated price
    minus $1,000 let's refuel bonus cash
    = $37,000 purchase price
    plus $5,980 your cost for 2,000 gallons of "discounted" gas
    = $42,980 total

    Regular incentive:
    $40,000 sticker

    $38,000 negotiated price
    minus $3,000 cash back
    =$35,000 purchase price
    plus $8,040 (2,000 gallons of $4.02 gas)
    = $43,040 total

    You are saving $60 with the gas incentive based on today's gas price. The higher gas goes, the more you will save with the gas incentive. If you decide to run mid-grade or premium in your Hemi, the regular cash back incentive will ultimately be the better deal.

    If you finance the purchase, finance charges will be higher on the gas incentive deal as opposed to the standard cash back deal. Based on a 5% loan rate, the cash back deal actually becomes $200 or so less when you add in 36mo worth of finance charges.

    Personally, I would rather pay less for the vehicle upfront and take a risk with the price of gas. From what I have read, $4.00 - $5.00 gas is to be expected until at least 2010, and even if it does go down it will never go back much below $3.75.

    Now, if we have a bad hurricane season (God forbid) and gas hits $6.00 per gallon like they say it could under certain circumstances, the gas incentive would really pay off.

    At the end of the day, it is purely a gamble.
  • h0ld3mh0ld3m Posts: 2
    Well done.

    This is the reason I choose up-front cash incentives.

    Another thing to note is that this gas card is not tied to any particular vehicle. You could use it for another vehicle that uses regular octane, or a boat, or a lawn mower.
  • 1cent1cent Posts: 1
    Am about to do a 36 mo lease on Charger SXT with leather. Can you tell me the residual and money factor?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi 1cent. You aren't by any chance related to 50 are you? OK, I know that it was bad but it's early and I haven't had enough coffee yet so cut me some slack :P . Unfortunately, as a result of Chrysler's financial problems Chrysler Financial is not leasing vehicles any longer. You might be able to lease a Charger through an independent bank, but chances are you would be better off financing or paying cash for this car.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
Sign In or Register to comment.