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2013 and earlier Dodge Charger Lease Questions

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  • 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
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  • 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: 27,621
    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
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    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
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  • 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
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  • 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
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  • 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
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  • 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
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  • vgxvgx FloridaPosts: 37
    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!
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