Howdy, Stranger!

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





Dodge Caliber Lease Questions

2»

Comments

  • Thanks bigstr
  • Car Man or anyone, I wonder if you can help me? First I would like to know how you figure out the risidual value and how you use it, and how do you figure out the "money factor" and how it is used. It may be a little too late to ask these questions because I already put a down payment on a car, but I have 2 days to back out. Can you tell me if I made a good deal? I leased a 2008 Dodge SXT 2.0L engine. Sticker price is $18,850.00 total. The salesman said he was charging me $16,252.00 for the car. I put $1,500.00 down, and $219 a month for 36 months and 12,000 Miles a year. The salesman said that I didn't need Gap insurance because it is built into the lease, (Chrysler takes care of it), and it is an open end lease, but no matter what happens I will not owe any money when I turn the car in. I live in Long Island NY 11590. Does any of this make sense, and did I get a good deal?
    PS. My tax rate is 8.625%.
  • How long does it take to get a reply to a post? I ask this as a factual question, not in a sarcastic manor. I am asking because I am stalling picking up the car until I get a reply, but I can't stall for too long, and I want the car. I will wait until wednesday and then go ahead with the deal anyway. :confuse:
    PS. When I mentioned my Tax rate in the prior post, that was the local area sales tax, not the rate on the loan.
  • bigtsrbigtsr Posts: 149
    Possibly no one with leasing knowledge has read your post,
    I know that I have never leased one but thought I would let you know
    your post has been seen.
    Just not by anyone with the knowledge to give you a decent answer.
  • Has anyone ever heard of a charge to turn a leased car in? Not extra mileage or damage, or tires, or anything like that. This was on the form when I signed for the lease. The sales mgr. said it covered the cost of transportation and other miscellaneous expenses. Is it legit??
  • I remember when I leased my cars one of the selling points was no Disposition (?) charge. I asked what that was and was told that it was the charge to return the car. I remember telling the salesman that I couldn't believe that anyone would have the nerve to charge that fee.
  • Greetings newbloke. This particular discussion is for consumers to discuss leasing the Dodge Caliber. You will have better luck getting others' opinions on this car b visiting the "Dodge Caliber" and the "New Caliber Owners - Give Us Your Report!" discussions.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi equuspwr. Residual values and money factors are not calculated. Banks that lease vehicles provide dealerships with lists of what factors and residuals they must use to calculate vehicles' lease payments. The following article describes how to do so: Calculate Your Own Lease Payment.

    Let's take a look at your deal. You leased a 2008 Dodge Caliber SXT 2.0L that has an MSRP of $18,850 and a selling price of $16,252. You are being given a discount of around $2,600 on a car that doesn't have much of a spread between its MSRP and dealer invoice price. This looks like a very attractive price to me. Just make sure that the dealer you are working with used Chrysler Financial's buy rate lease money factor of .00125 to calculate your monthly payment and you're all set.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hello equuspwr. Many banks charge an an end-of-term fee known as a disposition fee on leases. The last time that I checked, Chrysler Financial charged a $425 disposition fee to customers who turn-in their leased vehicles and do not lease a new one.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • I went ahead and leased the car. I'm not sure whether I got a good deal or not. This is the first time I ever leased a car and I wasn't too lease savvy. Like I said, The car's msrp was 18,850, the selling price wound up to be 16,300, and I put 1,500 down and pay 218 a month, 36 months, 12,000 miles a year. Free oil changes for the entire lease too. They say ignorance is bliss, so I am very blissful. I am happy with the car so far. It runs nice, looks nice and is living up to my expectations so far. True, I only have about 300 miles on it so far, but I will keep you updated on the car in one of the other owner forums. Thanks again.
  • You're very welcome, equuspwr. Thanks for stopping back and letting us know how everything turned out. I'm glad that you like your car so much. It looks like you did fine. Enjoy your new ride!

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
2»
This discussion has been closed.