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Dodge Charger Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Here you go, andre1. DaimlerChrysler seems to be pushing two year leases of this car right now. Chrysler Financial's current buy rate lease money factor and residual value for a 24 month lease of a 2006 Dodge Charger R/T, cool vehicle btw, with 15,000 miles per year are .00214 and 58%, respectively. This car's 36 month numbers are .00341 and 49%. If you were to lease it with only 12,000 miles per year, its 24 month residual value would be 1% higher and its 36 month residual value would be 2% higher. DaimlerChrysler is not providing any cash incentives on the '06 Charger this month, other than the ability to purchase it through its Employee Purchase Program.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi kem_7. You're right, that lease payment does sound pretty high. I would be happy to use Chrysler Financial's actual lease program to tell you what your lease payment should be on this car, but in order for me to do so I need you to provide me with its full MSRP and selling price. Let me know and I'll crunch some numbers for you.

    Car_man
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  • surge1surge1 Posts: 8
    Car_man,
    by using your figures for August on a 36 month lease, I came up w/ the following for the Charger R/T base:
    MSRP: $30705
    Employee pricing: $27881
    Residual: $15045
    Tax In NY state: %8.375
    Lease payments w/ $0 down: $442.01/month.


    does this sound about right to you? Also, do you know if NY state requires you to pay taxes on the whole car, or just the lease payments?
    Thank you.
  • carlaw1carlaw1 Posts: 3
    Also, Car_man,

    Would it be possible to calculate a 24 month and 36 month, 15k year, 0 down, for a Charger SRT-8 with an employee price of 38,806?

    Like others, I am comparing this car against the CTS-V, which seems to lease at a better rate. More expensive car, but similar lease payments. Is this correct?

    Thanks in advance for the assistance.
  • I just leased a charger r/t on 8/31. Got a pretty good deal I think. Deal is as follows: 27 months/15k per year. $398 per month with $3000 down. The car sticker is 33k even. I got employee price minus $1000. Plus $1000 rebate for an aged vehicle (car was on the lot since March). Residual was 57%. Interest rate was around 5%. Watch out for the $425 turn in fee on the back end of the lease if they go through Diamler. I got the dealer to absorb it since they did not disclose it up front. Good luck to all new charger owners. I love mine so far. :)
  • Hi surge1. I just worked up a sample lease payment using Chrysler Financial's new September lease program (.00225 / 47%) and here's what I came up with. According to my calculations, if you were to lease a 2006 Dodge Charger R/T with an MSRP of $30,705 and a selling price of $27,881 through Chrysler Financial right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $469. With only 12,000 miles per year, the payment for an otherwise identical lease would drop to around $454.

    I'm not sure how New York calculates sales tax on leased vehicles, but you may be able to find out by visiting one of the following sites: New York State Department of Motor Vehicles Internet Office or New York State Department of Taxation and Finance.

    Car_man
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  • I'd be happy to work up a lease payment for you, carlaw1. However, in addition to the selling price that you have already mentioned, I also need you to provide me with this car's MSRP in order to do so. Let me know and I'll crunch some numbers.

    Car_man
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  • Congratulations on your new Charger, cicco. It's a neat vehicle. Enjoy!

    Car_man
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  • andre1andre1 Posts: 78
    Car_Man,
    Please provide the October lease numbers (money factor, residual) for the 2006 Charger R/T and SRT models. Please provide these numbers for 24 and 36 months for 12K and 15K miles per year. Also, does the $2000 lease cash still apply for October. Thanks!
  • Hey andre1. Here you go. Chrysler Financial's current buy rate lease money factor and residual value for a 24 month lease of a 2006 Dodge Charger R/T with 15,000 miles per year are .00134 and 56%, respectively. The numbers for an otherwise identical 36 month lease are .00225 and 47%. If you were to lease this car with only 12,000 miles per year, its 24 month residual value would be 1% higher and its 36 month residual would be 2% higher. The $2,000 bonus for deals through Chrysler Financial is still available in October.

    Car_man
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  • I live in NY and will be coming out of my lease of a Dodge Durango in January but want to see if the dealer will absorb some of the payments. I want to lease a 2007 Dodge Charger SXT All Wheel drive through Chrysler Financial for 36 or 39 months with 12,000 miles per year depending on which will be a lower payment. I priced one out at $28,400. What is a good monthly payment with no money down? Are the dealers flexible with the cost? Is Dodge or Chrysler Financial offering any lease cash rebates/incentives on this vehicle?
  • Hi tbone08. When you say that you "price one out" at $28,400, do you mean that this is this car's MSRP or selling price? I need both of these numbers to estimate what this car's lease payment should be for you. Always remember that the selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. When negotiating your selling price for this car, keep in mind that DaimlerChrysler is currently providing a $500 bonus on it for leases through Chrysler Financial. Anyhow, let me know what the MSRP and selling price are and I'll crunch some numbers for you.

    Car_man
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  • Hi Car_man. I got that price off one of the internet buying sites. I just configured the vehicle again on Edmunds.com. The MSRP is $31,395, the Invoice is $29,101 and TMV is $30,341. Thanks for the heads up about the $500 bonus. Where can I find that information to print out? Also, since I am a currently leasing through Chrysler Financial would they provide me with a "Lease Loyalty" bonus as well?

    Thanks.
  • I want a short term lease and looking at different cars, at first I dint want American but i thought if i was leasing what would it matter. I like the charger and the 300 limited and I wanted to know whats the lowest price people have gotten on a v6 with navigation? I am in NY if it matters. I am interestedin a price in the 300's if not lower
  • Hey tbone08. You can find out what incentives are currently available on this car by visiting the following section of this site: Edmunds.com Current Incentives & Rebates. If you have any questions about the programs that are listed in that area please feel free to ask and I'll try to answer them for you. DaimlerChrysler usually provides a $1,000 lease loyalty incentive on select models, unfortunately the 2007 Dodge Charger is not one of them.

    Car_man
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  • Car_man;

    Great site! I would like to lease a 2006 R/T Charger, MSRP - $34,360. "My price" is $32,461 minus $2,000 in rebates ($30,461 for the car).

    I am being told a 39 month lease with 15k miles will be about $564 with nothing down. That price includes all NY taxes and dealer charges.

    What is the residual for this car? and what does "Rate lease money factor" mean?

    Is there anything I am missing? This is a business car and I want to make sure I am getting the best deal for the company and our shareholders.

    Thanks!
  • Hi Car_man, Thanks for the info. Can you run lease numbers for me? I would like to lease a 2007 Charger SXT AWD, New York State MSRP -$30,810, My price is $28,803. Terms 36months/12k miles per year. No money down. What is the monthly payment?
  • Hi team118. Money factors are used to calculate the interest portion of vehicles' monthly payments (residual values are used to calculate the other part, the depreciation portion). A vehicle's "buy rate" lease money factor is the number that is published by the bank that you are leasing through. Banks essentially provide dealers with a list of what their buy rates are for every vehicle that they lease. It is important to know what the buy rate is for the vehicle that you want to lease because dealers are often allowed to "mark-up" vehicles buy rates to add additional hidden back-end profit to deals. By marking your vehicle's money factor up, dealers are essentially charging you a higher interest rate for your lease and then getting a kickback from the bank. This is not as much of an issue with a lease through Chrysler Financial as it would be for a lease of a luxury brans, like BMW. BMW dealers are notorious for marking up vehicle's money factors. You can see exactly how vehicles' money factors are used to calculate lease payments by checking out the following article: Calculate Your Own Lease Payment.

    Having said all off this, unfortunately DaimlerChrysler is no longer providing lease support on 2006 models. If you really want to lease a Dodge Charger, you actually may be better off going with a 2007 model. It will have a much more attractive lease program available on it right now, i.e. a lower money factor and a higher residual value.

    Car_man
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  • No problem, tbone08. I'd be happy to crunch some numbers for you. According to my calculations, if you were to lease a 2007 Dodge Charger SXT AWD that has an MSRP of $30,810 and a selling price of $28,803 through Chrysler Financial right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $475.

    Car_man
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  • sdcapsdcap Posts: 6
    Does anyone know the current Lease Money Factors and Residuals for Chargers? I cant seem to google a buy sheet with this info. Trying to figure out which lease program is most advantageous.

    Thank you in advance.
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