Chrysler 300 Lease Questions
CarMan@Edmunds
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Hi everyone. Please use the following discussion to post any questions that you have about leasing a Chrysler 300. Thanks.
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I'm in NY looking to lease a Chrystler 300 for MSRP 36,000. Can you give me the money factor and residual. I'm looking at 36 months with 12k miles per year. I'm planning to buy in September.
Thanks.
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In fact I am looking to lease. I am looking at the 2006 AWD Touring addition with sunroof and sound group.
Can you expand on the current lease offers? Are the money factor and residual the same for the AWD Touring?
Thanks
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As far as this car's current lease program goes, Chrysler Financial's current buy rate lease money factor and residual value for a 36 month, 15,000 miles per year lease of a 2006 Chrysler 300C SRT-8 should be .00195 and 55%, respectively. The last time that I saw it, Chrysler Financial's base lease acquisition fee, it was only $550. It appears as though the dealer that you are working with may be selling you this car without the price mark-up that many other dealers try to get on it, but it is then trying to make up for some of this lost profit on the back-end of your deal by marking up your car's money factor and acquisition fee.
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The Westchester County dealer was happy to sell me the car at MSRP (A 300C SRT8 with all options except the rear DVD), which is a little more than $46K. Then he had the termerity to quote me $850 per month for a taxes-rolled in lease and $785 per month for a taxes up front lease!! That's more than I am paying for my 2003 540i Sport, which stickered north of $60K.
Of course, when I heard this bullcrap, I immeditely asked him what the money factor was. He responded with a number that, when multiplied by 2400 translated into an APR of 7.2%.
I told him that that was totally unacceptable and told me that I wanted the BASE money factor and that I knew that that was marked up. He would not budge. Accordingly, I terminated the conversation.
Bottom line: Chrysler dealers are getting saavy to the fact that consumers don't want to pay more than MSRP for the 300C SRT8. So they are marking up the lease money factor and toying with the residual value to make their killing that way.
Well, it looks like I will be going with the M45 Sport. The Infiniti dealer in Bergen County, NJ has been straighforward and has treated me with respect and has not played these stupid games that every single Chrysler dealer has with the 300C SRT8. (A Chysler dealer in Central Bergen County, NJ wanted $3K over sticker and monthly lease payments over $900 per month--we are talking Mercedes S-Class territory). (Another Chrysler dealer in Northern Bergen County, NJ in Ramsey wanted $2K over sticker--and then marked up the lease money factor to over 12% APR, resulting in monthly payments that exceeded $1,200--I told that moron that for that kind of cash, I would lease a Mercedes E55 or BMW M5. He then offered me $1000 per month for a plain vanilla 300C! Sorry, but for that kind of cash, I will lease a BMW 750. Of course, I walked out).
I am still waiting on one more Chrysler dealer in Central Pennsylvania. Perhaps that dealer will be more honest that the crooks who call themselves Chrysler dealers in the New York metro area. This is the first time that I have ever considered an American car since I was in my teens. Given these cheeseball experiences with NYC-area Chrysler dealers, it will be my last. The Lexus, Infiniti, Mercedes and BMW dealers that I have dealt with have never played games like the Chrysler dealers have.
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I actually thought that $1000 per month for a regular 300C was even more ridiculous than the $1200 quoted to me for the SRT8.
I later went to a foreign car branch of the same family of dealerships. The salesman, without any prompting, volunteered that the sales department at that Chrysler dealership is known for this kind of behavior.
Here are the proposed terms for a 300C SRT with the following options: SRT Option Package 1, SRT Option Package 2 and Kicker sound system. I did not opt for the rear DVD. MSRP on this car, so equipped, is $46795:
1. Selling price is MSRP ($46,795).
2. Money factor is .00195
3. Residual is (allegedly) 56%
4. 18,000 miles per year
5. Term is 36 months.
6. Sales tax of 8.625% (I live in NYC) is rolled into the payment.
Dealer claims that the monthly payment is $835 per month with taxes rolled into the payment.
Here's the rub: when I ran these numbers through the lease calculators on www.leaseguide.com and www.morebusiness.com and www.mortgages.interest.com, I get $775.90 per month--NOT the $835 per month that the dealer is quoting me. When I ran these number through the lease calculator on Bloomberg.com, I get $767.09--again NOT the $835 per month that the dealer is quoting me.
Sadly, I again come to the conclusion that the dealer is ripping me off (although not nearly to the extent of the amounts that the Westchester and Bergen County dealers attempted to gouge me). Am I wrong??
Looks like I will be getting the Infiniti M45 at this rate (Best quote I got was $1,000 over invoice for a fully loaded M45 Sport (all options other than full aero kit and rear DVD) with monthly payments of $737, taxes rolled in, and, for that lease, the numbers do add up).
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I was quoted a 06 AWD Limited 300. Including the options, MSRP was 35,600. The price he gave me was 33,230. He said the residual is 55% and money factor .00328 (seems really high).
I stated I only wanted a 36 month lease but the salesman said Chrystler wouldn't let them go do a 36 month, only a 39 month. Is this really true??
For 39 months, 12k miles and 2500 down, the payment was 528 a month for the lease. Seems really high. Can you give me your residual and money factor for this trim?
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Greetings & thanks,
Here is the deal: 300 Limited AWD MSRP $36875 Selling Price $33472 39 month/39k miles, Trade-In +$1950
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Need help by 9:30AM Eastern time Friday 11/11!
Received the following final offer from the dealer today 11/10. Is this a Good Lease Price?
MSRP: $35,890
Miles: 15,000
39 Month Lease 505.36 monthly (Includes Sales Tax 6% and GAP)
$1,000 Out of Pocket at signing (Includes 1st Month Payment & Registration for term of Lease ~ $352).
I do not know any of the Lease details.
Do you know the What the Residual and money factor should be on this car?
Is this a good deal or could I have done better.
I also found out this evening that Chrysler is now giving a $1,000 cash bonus on Leases for the 300C. The dealer did not mention it. Could be why he improved his best offer late today.
How does this cash bonus usually work?
Is this a good deal with the $1,000 factored into the above?
Thanks
I got an internet quote from a local dealer:
2006 Chrysler 300C MSRP $38,925.00
Cap Cost $36,586.00 plus tax tag title fees (includes $1000 Off)
What should I expect for Money Factor and Residual for 36 or 39 Months?
Many Thanks,
David
MSRP 38830
Cap Cost 35586 which is invoice plus advertising dollars
Money Factor .00229
Residual 56%
39 months
12k per year
Payment $505.87 plus State Sales Tax
I would like some feedback on this note.
Thanks,
David
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Also, when you get a quote from a dealer, do they include GAP insurance, and any other kind of fees, like paperwork and/or disposition. And, do they include these as part of the negotiated price?
My husband and I are from Queens, NY and we're interested in comparing a leasing option vs. a finance. However, we don't know the first thing about leasing. So my question is what do I have to ask them in order to determine if Im getting a fair deal? I see residuals in past emails and purchase price...whatelse would I need to run this by you? Thank you for your time. Christina
I've changed since posting this, what I'm looking at now is a Chrysler 300 Touring Signature Series. I would like to lease it for 4 years, with no money down. The MSRP is $30,440, I didn't get a selling price. Also I will drive it 12,000 miles a year.
Thank You.
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The two most important numbers for you to focus on when negotiating your lease are your vehicle's selling price and its lease money factor. These are the two main profit centers for dealers on leases. The selling prices of leased vehicles can be negotiated, just as if you were paying cash for or financing them. The money factor is important to know because dealers often have the authority to "mark-up" banks' buy rates to add additional hidden back-end profit to deals. I can tell you exactly what the money factor should be like for the car you are considering if you provide me with a detailed description of it and tell me how long you want to lease it for.
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I have been looking at the 300C and Limited and am about to start negotiating with local dealers. Before I start the process, I'd like to know what the likelihood is of better incentives in January as opposed to making a deal in December.
Thanks.
I'm looking at leasing a 2006 300C AWD. The one I'm looking at is fully loaded....with a MSRP of $41506. Taking into account the $1000 rebate what should I expect to pay (excluding tax) for a $0 down 39 month 12000 mile lease? Residual?
Thanks in advance for the info.
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Thanks for the info. The sales price I have talked them down to is $38,500. Also, do you know what incentives will be available in January?
Thanks again,
GoJayhawks
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Paul
Thanks
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A $3,000 additional dealer mark-up on this car is absolutely absurd, unless there is some sort of shortage of the "C" model that I'm not aware of. In fact, DaimlerChrysler currently has a $1,000 bonus cash incentive on this car right now that should help you to negotiate a selling price that's well below MSRP. There should be a number of Chrysler dealers in Southern California. You should shop around a little bit to see if you can get a more reasonable deal on this car. You can find the MSRP and dealer invoice price for the car that you want by visiting the following section of this site: Edmunds.com - New Vehicle Pricing. I haven't personally heard anything about frequent transmission problems with this car, but if there is a problem along these lines there is a good chance that it is being talked about in the following discussion: "Chrysler 300/300C".
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