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Chrysler 300 Lease Questions

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  • fredg5fredg5 Posts: 4
    Hey CarMan - you're the best answering all these questions!

    Can you answer one for me? I'm looking at a 300C AWD for 15k miles, 36 months in the Philadelphia area. What kind of money factor and residual should I be expecting?

    Thanks!
    fredg5
  • fredg5fredg5 Posts: 4
    CarMan -
    My dealer gave me a quote of 36 months, 56% residual, and a .00246 Money factor with a payment of $642 on a 300C AWD with an MSRP of 41310, with a cap cost of 39005. How does that sound?

    Thanks again for all your help!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Rick. I have a very good idea of what DaimlerChrysler's lease program is like on this car in your area right now. I would be happy to estimate what your lease payment should be in the 300C that you are interested in for you, but in order for me to do so I need you to provide me with an approximate MSRP and selling price for it as well as tell me how long you want to lease it for and how many miles per year you need to be able to drive it. Let me know and I'll work up a payment for you.

    Car_man
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    P.S. I have deleted your post because it contained personal information including your e-mail address and telephone number. Community members are not allowed to post information like that in this forum.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Thanks fredg5. If you were to lease a 2006 Chrysler 300C AWD through Chrysler Financial right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00219 and 53%, respectively. When negotiating your lease on this car, keep in mind that DaimlerChrysler is currently providing a $1,000 bonus on leases of it through Chrysler Financial.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi fredg5. A base 2006 Chrysler 300C AWD has a spread of around $2,600 between its full MSRP and dealer invoice prices. You are being given a discount of around $2,300 on the car that you are considering. This looks like a great price at first, but one has to take the $1,000 bonus that DaimlerChrysler is providing on leases of this car through Chrysler Financial into account. In reality, this cash makes your car's price more than $1,000 over dealer invoice, which is decent but not great. Also, Chrysler Financial's current buy rate lease money factor for a 36 month lease of an '06 Chrysler 300C AWD is only .00219. The dealer that you are working with may be trying to mark this car's money factor up a little bit to add some additional back-end profit to your deal.

    Car_man
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  • Carman,
    Can you please provide me with the April money factor and residual for the 300C 2wd? From looking at this forum discussion, it doesn't seem like many people lease this car. Why is that?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here you go. This car's lease program varies depending upon how long you lease it for and how many miles per year you need to be able to drive it. For now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. If you were to lease a 2006 Chrysler 300C 2WD through DaimlerChrysler Financial right now for 36 months with 15k miles/year, its buy rate lease money factor and residual value should be .00219 and 56%, respectively. It's difficult to say why so few people lease this car. It could be that it's lease program isn't that great. It's not bad, but I bet if you compared it to the programs of some similarly priced cars you might find that it is not as attractive.

    Car_man
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    P.S. When negotiating your lease on this car, don't forget to take the $1,000 bonus for deals through Chrysler Financial into account.
  • jaypsjayps Posts: 9
    Hi Car_man, I've read through the board and have learned a great deal from your comments but am also hoping you will confirm what I think I already know.

    I was at our Chrysler dealer here in CT this morning looking at a 300C. First let me say I really like the car. I had a 300M a few years back and although I didn't like the new 300 at first, it has grown on me.

    In any case, the lease deal quoted to me is as follows: This is for a 300C AWD. MSRP came to 37,730, Sale price 35,730 (the sale price includes the current Chrysler incentive of 1000 plus another 1000 off from the dealer. For a 36 mos lease, 15000 mi/yr, and zero down, they quoted 627/mo.

    What do you think? How does this stack up?

    Many thanks in advance!
  • thesonxthesonx Posts: 1
    I am way over my miles on my Acura TL with 3 payments left. I was trying to get someone to eat my final payments if I leased a new car from them. My plan has not worked so far. I am looking at an 06 TL or a 300C. My family has a relationship with a Chrysler dealership and thought I could get a good deal on the 300. I was quoted around $600 a month/39 and 15,000 with $2000 out of pocket. I told the guy I would probably just get the Acura. He called me today and told me that the rebate on the 300 will soon be changing from $1000 to $3500 soon and that will drastically lower the payments. Has anyone heard about the incentives changing? or is the salesman just trying to stall me from buying the other car? Thanks.
  • delagarzadelagarza Posts: 1
    Hi Carman:
    I just read on this website that the 5.7 Hemi 300C has a lease special going on right now at $399 per mo, which sounds great except that the offer is for a "plain" 300C, and I kinda have my heart set on the Hertiage edition. Can I still apply the same residual and money factor for the Hertiage edition as for the base 300C under this new factory offer? And if so, how much more should I expect to pay for this upgrade? I looked at Chrysler's website and its didn't say anything other than there is $1000 cashback. And, the last poster on this blog said the rebate on the 300 is going up. Any truth to that? Lastly, my current car lease isn't due to end for another 6 months, and I have no problem paying to get out early, but should I roll those 6 mos payment into my new lease? Thanks for your help. :confuse:
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi delagarza. I believe that the Chrysler 300C Heritage Edition has the exact same lease program available on it as the base 300C does. The exact impact that this package will have on your car's lease payment will depend upon its MSRP and how much you pay for it. If you provide me with the full MSRP and an approximate selling price for the exact 300 that you want, as you want it equipped, I would be happy to estimate what its lease payment should be for you. DaimlerChrysler is currently providing a $1,000 cash incentive on 2006 Chrysler 300 models that are financed or leased through Chrysler Financial. It also is providing $500 dealer cash on all 2006 models right now. Make sure to take both of these incentives into account when making your offer. These incentives are currently scheduled to run through July 5th, so I don't anticipate any enhancements to the 300's incentives before then. Even after that date, I would be fairly surprised if the incentives on it went up. DaimlerChrysler's offers on the 300 have been consistently at this level for a while now. Of course, it is difficult to predict exactly what automakers will do with their future incentives. You can roll out six remaining lease payments into the capitalized cost of your new lease if you want to, but if you do keep in mind that not only will you be wasting money by paying to get out of your current lease early, but you will have to pay interest on that money as well.

    Car_man
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  • apoptoticapoptotic Posts: 2
    I currently have an offer from a local dealer for a lease of a Brilliant Black Chrysler 300c. With an MSRP of $34,300 and a 39 month lease for $400.70+TAX/month. The down side is they want $2,000 down utilizing the $1,000 incentive through Chrysler. Is this a fair deal?
  • payday11payday11 Posts: 1
    I'm looking at a 300C with an MSRP of $36,475 and a sale price of $33806. Money factor being quoted is .0266. For a 39 month lease, with 21K miles per year, they're quoting $609. I saw in an above post that Chrysler's money rate was currently .00219. How much more is the dealer making on the back end here?
  • apoptoticapoptotic Posts: 2
    I was given a money factor of 0.00226 with a 56% residual yesturday. Hope this helps.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi apoptotic. You never mentioned the selling price of the car that you are interested in leasing. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the car that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what this car's selling price is.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello payday11. Chrysler Financial's current buy rate lease money factor for a 39 month lease of a 2006 Chrysler 300C is .00226. It does appear as though the dealer you are working with is marking this car's money factor up. Make sure to insist that they use the .00226 factor to calculate your car's lease payment.

    Car_man
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  • andre1andre1 Posts: 85
    Car_Man,
    On Edmunds.com, the 300C is listed as having a lease special through Chrysler. Before I go to the dealer to inquire, can you give me the residual and money factor for the 2006 300C for the following. This will allow me to ensure the dealer is using the correct rates. Also, does the $1000 rebate still apply if I use Chrysler to finance?

    15,000 miles for 24 and 36 months
    12,000 miles for 24 and 36 months

    Thanks!
  • minarets1minarets1 Posts: 49
    $35,550 300c

    $299/month
    63 month lease
    5k down
    .0029 money factor
    leasy buy out 34% of msrp

    thanks for the help
  • qbrozenqbrozen Posts: 22,837
    HORRIBLE!

    Why on earth would you want to rent a car for over 5 years? Most smart shoppers tell you to not even finance a car for that long, and you want to rent one at that pace?

    What happens when it breaks while out of warranty? Now you are paying to fix a car that you are renting.

    And putting $5k down? What happens if it gets totalled 2 months from now? You are out $5k and have no car.

    Big down payments should be reserved for financing, not leasing. Leases should be kept to 36 months or less, 48 if you REALLY must. But definitely not out of warranty.

    If you are simply shopping payment and need a $300 car, then the 300C is too much car for you to afford. Find something more in line with your budget.

    I apologize for the bluntness, but I'm just trying to help you avoid a mistake.

    '17 F150 Crew 2.7; '67 Coronet R/T; '14 Town&Country Limited; '09 LR2 HSE. 44-car history and counting!

  • mental8ymental8y Posts: 1
    Car-Man, Do you know what the money factor on the 300C SRT8 is right now? I am getting a quote from the dealership of .00275.
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