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Dodge Journey Lease Questions

kyfdxkyfdx Posts: 29,795
edited April 21 in Dodge
Ask your Dodge Journey lease questions here!

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Comments

  • scottyd3scottyd3 Posts: 3
    Any info about the money factor and residual for the Dodge Journey? I'd be looking for 12k/yr miles and 36-months. I'm not sure what trim package of the 2009 Journey yet, I'd be looking at the FWD versions, so any info is appreciated. Thanks!

    Scott
  • 18mike18mike Posts: 5
    I was quoted $510/mo. on a Journey SXT.
    convenience group 1 $695
    premium convenience group $895
    chrome appearance group $ 1,420
    sunroof $795
    destination charge $625

    sticker $ 26,790

    lease for 27 mos and 56,250 total miles.

    what do y'all think?
  • gforce11gforce11 Posts: 225
    At first glance, I thin its pretty insane to pay $510 a month for a $27,000 ride. Does that even include tax? How much are you putting down?
    I got tons of questions really...Why would you lease 27 months, drive 56k miles and lease. Why not just buy it?
    I don' recommend unconventional lease terms (anything isn't 24,36,48). In your case, after 24 months, you'll have to pay for your 3rd year car registration, drive it 3 months and then return the car. If you end up getting a new one, you'll have to pony up another car registration fee. that isn't cheap, its at least a few hundred bucks extra than you should be paying.
    I don't wanna offend anyone looking at a Journey, but it looks like a minivan to me, so you can get a Odyssey for under $400 bucks with ZERO drive off. Heck you'd be paying less on a Honda Pilot...granted that thing is ugly, but still its a 8-seater.
    I certainly think you can do better.
  • aaron_taaron_t Posts: 301
    At $0.20/mi over 23625, you are paying almost half your payment in extra miles, $242/mo. That leaves you @ $270/mo for the standard 10500/yr which is reasonable if that incldues taxes.

    Even @ higher mileage rates, leasing has some advantages and can still make financial sense. If used for a business, it is easier to expense.

    Re: 27mo leases, different states may handle registration differntly, but 27 vs. 24 moths matters not for vehicles in Michigan. Tags expire on the registered owner's bithday. If my birthday happens to fall in theose extra 3 moths, yes I have to pay for another year's worth of registration on that vehicle while only using it for <3mo. If my birthday is not within the next 3 months, it doesn't matter. Actualy it rarely matters anyway as you usually transfer the plate to your replacement vehicle. If the next vehicle is significantly less expensive, you end up paying more for the plate, tbut that's nit-picking <$25 usually.
  • gforce11gforce11 Posts: 225
    Re: 27mo leases. I think it might be that way in Michigan, but in California is definitely not the same. Our car registrations are not $25 or so, depending on the car you drive, it can range from $100 to $300. So if you get a 27month lease, You must pay your 3rd year's registration after the 24th month, drive your car for 3 months and get a new one. A $25k car can have a registration fee of around $230-240, not exactly nit-picking in my book. But every state is different so I'm not trying to discredit your statement. You do have some valid points.
  • aaron_taaron_t Posts: 301
    Our plate registrations are in the $100-300 range as well, depending on MSRP of the vehicle new as well.. Even @ 3 months into your 3rd year, can you transfer your plate for the remaining 9 months to another vehicle for a smaller fee in CA? In MI, we have a $19 registration/plate transfer fee that allows you to keep whatever plate you have until your next birthday, assuming it has already been paid for on the prior vehicle.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings Scott. Chrysler Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Dodge Journey SE 2WD with 12,000 miles per year are .00199 and 49%, respectively. The numbers for an otherwise identical lease of an '09 Journey SXT 2WD are .00191 and 52%. When negotiating your lease on this vehicle, make sure to take the $1,000 cash incentive that Chrysler is currently providing on it into account.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • elrephoelrepho Posts: 1
    Bergen County, NJ.
    Spoiled by a $275/mo. lease on 05 Durango now ending. Approx. $3500 in excess mi. to pay. CFS only offering $10k to buy at 5.9%/60mo @ $200/mo. Considering new lease on 09 Journey w/ 3rd row.
    Anyone know current money factor/residual on 09 Journey? 24 mo or 36 mo.
    Anyone get any good lease deals on this model lately?
    All comments are welcome and thanks for your help!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi elrepho. Unfortunately, Chrysler's current financial problems forced it to pull the plug on Chrysler Financial's lease program. You might be able to lease a new Dodge Journey through an independent bank, but chances are you will be better off financing or paying cash for one.

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