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Dodge Caravan Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome bigslick. I take it that you are a poker player :). The .00130 money factor that you saw mentioned earlier is still Chrysler Financial's buy rate for a 36 month lease of a 2008 Dodge Grand Caravan SXT. All lessees are required to pay their vehicles' first month's payment at lease signing, so that would not have any impact upon your van's money factor. It is difficult for me to back into the money factor that was actually used on this deal without knowing what your van's full MSRP is. Regardless of whether the dealer charged you .00155 or .00130 this is still a pretty good deal. Don't worry about it now because your deal is already done. Just make sure to stop back here to Edmunds.com before you sign on the dotted line the next time you are in the market for a new ride ;) . Enjoy your new Caravan.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome aboard, meandm. When the dealer leased this van to the retired couple they essentially sold it to Chrysler Financial. In order for that couple to get out of their lease early, which usually is a very bad idea, the dealer would have to purchase the van back from Chrysler Financial. The dealer definitely did not get the van for free. Even if they had, it really does not have an impact upon what it is worth on the open market. The dealer is not going to sell it to you for less than what the market dictates that someone else is likely to pay them for it just because they got a good deal on it (they probably didn't anyhow). You should be able to get an idea of how much you will have to pay for the Caravan that you are interested in by looking it up over on the Used Vehicle Pricing section of Edmunds.com.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Matt. Unfortunately, the fact that you signed the lease papers does not mean that Chrysler will approve your deal. It sounds like the dealer just let you drive off in your van before the deal was completely finalized. If you don't get a control number, you will probably either have to give your Caravan back to the dealer or pay a higher price for it. Sorry that I don't have better news for you.

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  • csteinbecsteinbe Member Posts: 10
    I asked about this in another thread, but car_man seems to have the facts.

    What's the current Chrysler Financial lease rates for a 2008 Grand Caravan SXT (25L if it matters)?

    I was quoted 46% and .00170, and there is also a $130 annual fee on the deal sheet that I don't understand.

    Thanks,

    Craig
  • csteinbecsteinbe Member Posts: 10
    Forgot some important details: 39 (or 36) month & 15K/yr
  • romarriottromarriott Member Posts: 2
    Carman,

    If I wanted to get an a lease amount for a 2008 Dodge Grand Caravan SXT with a couple of options. The MSRP is $30,910. I will be negotiating for the selling price of $29,500.

    There is a cash allowance of $2500 until June 2. How would the cash allowance work? Do you also take that off the final selling price and use that price when calculating the lease amount? Excuse the beginner questions but it sounds like you are very helpful on these things and could help me out.
  • romarriottromarriott Member Posts: 2
    Read someone else's post and forgot to mention 12k/ year and for 36-month lease.

    Thanks
  • odymommaodymomma Member Posts: 6
    You should be able to do much much better than 29500 on a sticker of 30,910. You're basically inviting them to stick it to you. Research the prices paid and negotiate much harder than you are. You should be around 26,500 inc. the rebate.
  • csteinbecsteinbe Member Posts: 10
    Think of the cash allowance as a contribution to your down payment. Negotiate the price of the van first, and ignore any references to the allowance until you are done. The allowance comes from Chrysler not the dealer, and it shouldn't be considered part of the dealer's contribution to the negotiation.
  • csteinbecsteinbe Member Posts: 10
    So, I finished my deal today. The .00170 money factor and 46% depreciation were on a Chrysler Financial lease for 39mo/15K on a Caravan SXT, so I would have to assume those are current as I don't think dealers can move on those numbers.

    The $130 fee I saw on the deal sheet was for registration.
  • daveguy71daveguy71 Member Posts: 4
    To make a long story short Our Lease saga goes like this:

    On Sunday 5-18-08, I traded in a 2001 Dodge Intrepid R/T and 2003 Chevy Malibu with trade in values of $2000 and $3500 respectively.
    The Lease was for 256.23 per month.

    Monday 5-19-08 I decided not to trade in the Intrepid for $2000, I gave them $2000 cash instead. The lease was rewritten to reflect the cash versus trade-in.

    Friday 5-23-08 Finance guy calls and said that he had made an error of a few cents and could I come back in to resign the paperwork. I told him it would have to be on Monday 5-26-08. I could not make it on Monday and he called and left a voicemail asking me to come in on Wednesday.

    I called Tuesday 5-27-08 but he had already left for the day, so I talked to one of the other finance guys. I asked him to check on the paperwork to see what the monthly payments were, he said $305+. I then asked him what the value of the trade in of the Malibu was and he said $2000.

    Is it legit for him to make such a drastic change to the Lease contract.

    BTW we went on a small trip over Memorial Day weekend and now have over 900 miles on the van.

    Don't know what to do.

    Any help would be great.

    Thanks
  • scoutllscoutll Member Posts: 40
    Did you already sign a contract for the original payment? If so, I would refuse to sign a new one. If you didn't sign yet, tell them they can have their used van back, then take the Malibu and look somewhere else.
  • sarah3232sarah3232 Member Posts: 2
    Can you negotiate the price of a new car for lease? Or is the price they give me (including incentives) the bottom line?
    Thanks
  • jen_bjen_b Member Posts: 7
    Most certainly, yes, you can negotiate the price of the vehicle on a lease just the same as if you were purchasing it! I am currently negotating on a jeep liberty lease and they have agreed to $400 UNDER dealer invoice price.

    I would take the time to build the exact vehicle you are buying on edmunds.com and it will tell you the dealer invoice price vs. the MSRP and it will also tell you an average of what others are paying for that vehicle. It also depends on what type of vehicle you are looking to buy, obviously with my deal, SUV's aka "gas hogs" are currently not too popular with the current gas prices, and dealers are quite desperate to sell, so they are negotiating heavily to move them off the lots.

    I would not go into buying a new vehicle until you know the dealer cost, that is your best tool to negotiate, and once they know you have that information, it really is quite easy to negotiate. Good Luck to you. :)
  • jen_bjen_b Member Posts: 7
    I should also mention that the $400 under invoice price is before any of the incentives are deducted, so after all the incentives, I am getting it for $4400 under invoice. The incentives do not come off the dealerships bottom line, so they should not be considered when negotiating, Chrysler is offering the incentives, not the dealership!
  • 00sport00sport Member Posts: 1
    I note a lack of activity in this forum since Chrysler Financial quit leasing.

    Does anyone have experiences to share about what Chrysler/Dodge is offering to customers whose lease is ending?

    I am leasing the above mentioned vehicle and its lease ends in June 2009. My lease is for 27 months @ 12K per year, $199 a month, and my end of lease buyout is $14K plus tax.

    I would LOVE to extend this lease, but I'm sure that's not going to be an option :cry: I'm seriously thinking the buyout is a valid option even though all of the previous advice seemed to be against doing that.
  • mike71_camike71_ca Member Posts: 1
    I had an incident with Dodge in Canada that I hope is okay to share here with the readers of this topic. Very educational and hopefully will help others when they try to close their old lease.

    I leased a Dodge Grand Caravan in 2001 and paid ~$500/month for 48 months. I returned it 40 months later without any penalties because I got a new 2005 Dodge Caravan and leased it again for 48 months at $370/month. I got tired of Vans so I recently purchased a Dodge Journey which was an excellent decision, I feel. I have it for about 2 months now and it is great for the price.

    When I made the deal with the sales person at the dealership I told him that I have 5 months remaining on my lease, will you take over that lease if I bought a new car from you ? He said yes, without a problem. He even calculated this price of ~$1900 into the deal and said that it won't be an issue.

    I spoke with others who have leased cars in the past and returned the cars early to get new cars. They confirmed that they never had to sign anything for the old card when they picked up the new car.

    I received a letter from Chrysler Financial last week to advise me that I owe them ~$1500 on my lease. I called my sales person and found out that he was only going to pay for 1 month of the lease and I will have to pay for the reaming 4 months. I went down to the dealer and spoke with him and the manager. Neither of them was helpful and all I heard was "I understand but...". I explained to them that it would make no sense to me to carry 2 car payments for the next 4 months had I known this was the deal. I reminded them that my wife was there when I mentioned the 5 months to him. He didn't care, sale was done and he wants nothing to do with me.

    Very unfortunate situation for which I hope others will learn from. I am taking the dealer to court because I cannot afford to pay this $ figure to Chrysler Financial. Also, I got the media involved to make sure this scam does not happen again to anyone else, a complete waste of time.

    Any suggestions ? Has anyone else gone through this before ?
  • phred84044phred84044 Member Posts: 17
    edited January 2011
    Can anyone provide current lease rates and incentives for a both the 2011 Grand Caravan Mainstreet and Crew models, 12k miles per year, 36 month lease.

    Thanks in advance.
  • a98gsxra98gsxr Member Posts: 1
    edited February 2011
    Dodge Credit doesn't lease vehicles anymore. Their value didn't hold up enough for them to return a profit on the off leased vehicles.
  • shiposhipo Member Posts: 9,148
    The fact that "Dodge Credit" doesn't lease Caravans has absolutely nothing to do with the fact that Caravans don't hold their value (any car can be lease at a profit regardless of its expected resale value), and more because there is no such an entity as "Dodge Credit".
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi phred84044. While it is true that Chryselr Financial is not Chrysler's captive finance company any longer, one can indeed still lease a Dodge Caravan if they want to. One of the banks that Chrysler has an affiliation with is Ally (the former GMAC).

    Ally's current base lease rate and residual value for a 36 month lease of a 2011 Dodge Grand Caravan Mainstreet with 12,000 miles per year are 2.0% and 49%, respectively.

    The numbers for an otherwise identical lease of an '11 Grand Caravan Crew are 0.5% and 48%.

    There's also cash incentives on leases of this van, but they vary by region. I would be happy to try to give you an idea of what they're like in your area if you let me know what state you're in.

    Car_man
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  • huskie13huskie13 Member Posts: 10
    I am looking at buying either a 2011 Grand Caravan R/T or the Town & Country Touring L
    What are the current rates and residuals for the R/T and Town & Country
    looking at 12K or 10K per year with either a 36 or 39 month term (Whichever is better)

    We are in IL 60074

    Thanks
  • jpfjpf Member Posts: 496
    With all due respect, you need to get everything in writing. That is, you needed to get in writing that the previous lease payments were waived. Never trust a car salesperson's "word."
  • steverstever Guest Posts: 52,454
    If you bought a Chrysler "Man Van" like this one, http://edmu.in/Nyzoly, a reporter would love to chat with you about it. Please email PR@edmunds.com no later than Wednesday, October 10, 2012 and include your daytime contact information.
  • seb7seb7 Member Posts: 7
    Hi Car_man,

    Could you provide MF and res for Grand Caravan SE for July in Illinois? Thanks!
  • borgus02borgus02 Member Posts: 28
    Looking for RV and MF for 2017 grand caravan SXT and GT trims. Any lease incentives? Cash? 12k/24 and also 12k/36 Top tier credit in Columbus, OH

    much appreciated fellas. 
  • MichaellMichaell Moderator Posts: 240,090
    borgus02 said:

    Looking for RV and MF for 2017 grand caravan SXT and GT trims. Any lease incentives? Cash? 12k/24 and also 12k/36 Top tier credit in Columbus, OH

    much appreciated fellas. 

    24/12
    SXT - .00005 and 63%
    GT - .00012 and 64%

    36/12
    SXT - .00013 and 53%
    GT - .00012 and 53%

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  • borgus02borgus02 Member Posts: 28
    That is surprisingly decent. Do you info on incentives? I see 6000 bucks IDL cash. What is IDL? Is that something people even use or should you stick with Chrystler Capital? Thanks Michael. 
  • MichaellMichaell Moderator Posts: 240,090
    borgus02 said:

    That is surprisingly decent. Do you info on incentives? I see 6000 bucks IDL cash. What is IDL? Is that something people even use or should you stick with Chrystler Capital? Thanks Michael. 

    IDL incentives are applicable when non-Chrysler Financial banks are used for the lease. However, we don't have the numbers for those institutions, and they're likely higher than CF - to offset the incentives.

    You'd have to run the numbers both ways to see which are better.

    Keep in mind, however, that 3rd party banks aren't as keen on keeping you as a customer, so the end of lease charges may be higher, and more strict.

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  • cj4713popstarcj4713popstar Member Posts: 56
    Are there any lease rates available for 2016 Dodge Grand Caravan SE/AVP or SXT 36/12k? Otherwise please give the current MF and residual for the 2017 SE and SXT 36/12k. thanks!
  • MichaellMichaell Moderator Posts: 240,090

    Are there any lease rates available for 2016 Dodge Grand Caravan SE/AVP or SXT 36/12k? Otherwise please give the current MF and residual for the 2017 SE and SXT 36/12k. thanks!

    2017
    SE - .00003 and 50%
    SXT - .00013 and 53%

    2016
    Standard MF (around .00213) and 36% (SE) or 33% (SXT) - can I just say, "Ouch!"

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  • gavrikgavrik Member Posts: 51
    Hi,

    I am interested in 2017 Dodge Caravan GT 36/10k lease. Could you, please provide the current MF and residual for this month?

    Thanks.
  • kyfdxkyfdx Moderator Posts: 235,188
    gavrik said:

    Hi,

    I am interested in 2017 Dodge Caravan GT 36/10k lease. Could you, please provide the current MF and residual for this month?

    Thanks.

    .00073 MF and 44% residual

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  • nickp09nickp09 Member Posts: 2
    Hi,

    can you please provide the MF and residual for the 2017 Dodge grand caravan SE plus for 3years/15k miles and 3years/12k miles? Would you happens to know how much dealers charge per mile if you go extra ?

    Thank You
  • kyfdxkyfdx Moderator Posts: 235,188
    nickp09 said:

    Hi,

    can you please provide the MF and residual for the 2017 Dodge grand caravan SE plus for 3years/15k miles and 3years/12k miles? Would you happens to know how much dealers charge per mile if you go extra ?

    Thank You

    .00001 MF and 34%/36% residual

    I think Chrysler Capital's mileage penalty is $0.20/mi., but I'm not certain of that.

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  • ev_leaseev_lease Member Posts: 28
    hi, any info on RV/MF for 2017 Dodge grand caravan SXT and GT for 24/36 months (10k miles/year) for socal(90290)?
  • kyfdxkyfdx Moderator Posts: 235,188
    ev_lease said:

    hi, any info on RV/MF for 2017 Dodge grand caravan SXT and GT for 24/36 months (10k miles/year) for socal(90290)?

    SXT: .00001 MF and 47% residual for 27/10
    .00004 MF and 38% residual for 39/10

    GT: .00022 MF and 50% residual for 27/10
    .00001 MF and 39% residual for 39/10

    27 and 39 months are the supported terms through Chrysler Capital, this month.

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  • ev_leaseev_lease Member Posts: 28
    kyfdx said:

    ev_lease said:

    hi, any info on RV/MF for 2017 Dodge grand caravan SXT and GT for 24/36 months (10k miles/year) for socal(90290)?

    SXT: .00001 MF and 47% residual for 27/10
    .00004 MF and 38% residual for 39/10

    GT: .00022 MF and 50% residual for 27/10
    .00001 MF and 39% residual for 39/10

    27 and 39 months are the supported terms through Chrysler Capital, this month.
    horrible. why even bother...
  • MichaellMichaell Moderator Posts: 240,090
    ev_lease said:

    kyfdx said:

    ev_lease said:

    hi, any info on RV/MF for 2017 Dodge grand caravan SXT and GT for 24/36 months (10k miles/year) for socal(90290)?

    SXT: .00001 MF and 47% residual for 27/10
    .00004 MF and 38% residual for 39/10

    GT: .00022 MF and 50% residual for 27/10
    .00001 MF and 39% residual for 39/10

    27 and 39 months are the supported terms through Chrysler Capital, this month.
    horrible. why even bother...
    Likely to be a large amount of lease cash to go along with those numbers, but we don't have that information.

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  • tylerdotdotylerdotdo Member Posts: 8
    Hi! Can I get MF and residual for a dodge caravan sxt 2019 36m/10k for 49423?

    thanks!
  • kyfdxkyfdx Moderator Posts: 235,188

    Hi! Can I get MF and residual for a dodge caravan sxt 2019 36m/10k for 49423?

    thanks!

    We don't show any lease programs for the Caravan through Chrysler Capital.

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  • tylerdotdotylerdotdo Member Posts: 8
    Thanks!
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