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Dodge Charger Lease Questions

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Comments

  • 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: 37
    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: 471
    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: 38,518
    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
  • Anyone know what the Current Residual and MF are for a R/T with AWD? Dealer just quoted me a sticker price of $22,500 with current incentives.
  • Hi ajfitzer. For some reason, it appears as though Chrysler is currently only providing lease support on base Charger models. If you want to go with an R/T or AWD, you will be better off financing than leasing. Chrysler is providing 0% financing for up to 6 years on the 2010 Charger right now.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • eburnseburns Posts: 9
    Hi Car Man,
    First, thanks for the all of the assistance in this past; this board has saved me quite a bit of money on leases over the last few years.
    I'm working on a new lease on a Charger R/T Max (there is a heck of a deal for anyone who is a USAA member right now), but I'm getting very different answers from dealers on MF and residuals. Can you confirm what they really are? Looking at 3 years, 10k per year.

    Thanks in advance!
  • You're very welcome eburns. I'm glad that we have been able to help you out.

    Ally's current base lease rate and residual value for a 36-month lease of a 2012 Dodge Charger R/T Max with 10,000 miles per year are 2.5% and 55%, respectively.

    I believe that there's a $1,000 cash incentive on leases of this car right now. Make sure to take it into account during your negotiations.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • eburnseburns Posts: 9
    Thanks Car Man; that beats the most recent 3.4% APR I've been quoted.
  • eburnseburns Posts: 9
    Thanks again for the help! Deal is done; went with 12k per year, 54% residual and 2.4% APR. that combined with a negotiated cap cost about 4500 below invoice and I'm feeling pretty good. First time leasing an American car and very happy!
  • LASHAWNLASHAWN Posts: 303
    Can you post the figures of your deal? I'm looking into getting a R/T Max myself.
  • Sure:

    MSRP: $38,640 (R/T Max, red, sunroof, spoiler)
    Negotiated sales price: $36,621
    Rebates: 4500
    Taxes, fees: 1200 ish
    APR: 2.5
    Residual: 54
    12k miles per year, 36 months
  • lamronh49lamronh49 Posts: 86
    About a month ago I saw something like a $199 x 24 month lease with $1474 down on the R/T, in the Detroit area.

    If I wasn't in the middle of a 200 lease, I might have flown out to grab that.

    Unbelievable.
  • I am in the process of trying to lease 2012 r/t with all wheel driver. The sticker price is $36,100 and i haggled them to $30300. I live in New York and we have an 8% sales tax. Any help would be appreciated. Thanks Joe
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