Chrysler 300 Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're right, mrdrifty. The money factor that you were quoted looks about right to me, but for some reason the residual value that you were told is too low. This is interesting because individual dealers do not have the authority to alter banks' residual values. Chrysler Financial's current 36 month, 15,000 mile per year buy rate lease money factor and residual value for the 2006 Chrysler 300 SRT8 are .00163 and 55%, respectively. The selling price that you were quoted for this car looks reasonable to me, but you definitely should stop by the following discussion to see how much other community members have paid for similar cars lately: "Chrysler 300 / 300C: Prices Paid & Buying Experience".

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi tryingtolearn. through December 4th, DaimlerChrysler is providing $2,000 lease cash on the 2006 Chrysler 300C. Through November 30th, it was also providing an additional $1,000 cash incentive on units that have been in dealer inventory since April 1st or earlier. I believe that the latter portion of its incentive program has expired. Chrysler Financial's buy rate lease money factor and residual value for a 36 month lease of a 2006 Chrysler 300 with 15,000 miles per year are .00163 and 52%, respectively.

    You can look up this car's MSRP and invoice information by visiting the following section of this site: Edmunds.com - New Vehicle Pricing. You definitely should be able to get a leftover 2006 Chrysler 300C for fairly close to dealer invoice and then have the cash incentives that are available on it taken off. Make sure to stop by the following discussion to see how much other community members have paid for similar cars lately: "Chrysler 300 / 300C: Prices Paid & Buying Experience".

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi kdckurt. A base 2006 Chrysler 300C has a spread of just over $2,600 between its full MSRP and dealer invoice price. After this vehicle's cash incentives are taken into account, you are being given a discount of $1,988. This is around $600 over invoice, which isn't bad but might be able to be neaten by a few hundred dollars this late in the model year if you are in an area that has a decent level of competition.

    The money factor that you were quoted for this car is a little too high. Chrysler Financial's current buy rate lease money factor for a 36 month lease of a 2006 Chrysler 300 is only .00163. Make sure that the dealer you are working with uses this factor to calculate your vehicle's monthly payment.

    As far as the sales tax goes, it is to your advantage to bake it into your car's lease payment rather than pay it at lease signing. If you pay it all upfront you risk losing it if your vehicle is totaled in an accident or stolen and never recovered.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey andre1. Unfortunately, the $2,000 customer cash and $2,000 lease cash that are currently available on the 2006 Chrysler 300C cannot be combined. You either get $2,000 off of a cash purchase of this car or $2,000 off of a lease of it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi cwa318. You never mentioned how long you want to lease this car for, so for now I will assume that you want a 36 month lease with 15,000 miles per year. Let me know if you want something different. Chrysler Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2006 Chrysler 300 SRT-8 with 15,000 miles per year are .00163 and 55%, respectively.

    Car_man
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  • 2volkswagens2volkswagens Member Posts: 7
    Where are these cars for $8k off MSRP? I'll take one right now at $8k off of MSRP. I drove one yesterday($48k MSRP)and really liked the car. It had been on the lot since 12/05 and had 3,600 miles on it(GM's wife drove it). I made a low ball offer and their counter was high 42's and wouldn't move from there. There were 4 on the lot and this is a small dealership. I hear how DCX has tons of product to move, I guess these guys didn't get the memo.

    Car_Man can you type up a memo to these guys? LOL

    Regards,
    John
  • andre1andre1 Member Posts: 85
    John - Go to the www.carmax.com web site and select go to the new car section. Then, check out the inventory of new 300C's SRT8. CarMax (LAX) has 2006's at $7000 off MSRP and the 2007 SRT8's (Atlanta, Orlando) are already discounted at $5000 off MSRP. With the new Chrysler December incentives, you will probably even get more off these prices. If you dealer can't match these prices, then they are either lying or delusional.
  • 2volkswagens2volkswagens Member Posts: 7
    Andre - Thanks for the reply. I'll print out the add and give them a call. Hopefully I'll be an owner soon. I did notice a few things that needed to be addressed (squealing brakes and drooping rear bumper cover). I understand there are TSB's out for both of these issues.

    Once again thanks for the reply and if you have one in your area for $8K off let me know.

    Regards,
    John
  • 2volkswagens2volkswagens Member Posts: 7
    Found one. $7k off and .00074 M/F for 27 months. Deal was super easy and the dealership was great to work with. The car will be delivered next week. Looking forward to being an owner. Thanks for the info and the site.

    Regards,
    John
  • andre1andre1 Member Posts: 85
    John,
    What residual % did you get for that 27 month lease? The M/F of .00074 is certainly a lot lower than the 24 month (.00152) and 36 month (.00205) rates. So, I was wondering if the 27 month rates are a special for this month?
  • 2volkswagens2volkswagens Member Posts: 7
    I don't have my paperwork with me at the moment but it was either 60 or 61%. That was the starting point anyway as I added 7k miles a year to my deal. I don't recognize the rates you've listed above. I used the rates listed on roadfly.com when dealing with the dealership.

    Regards,
    John
  • udeyhawkudeyhawk Member Posts: 1
    I am in Kansas and drove a 2006 RWD 300C with pretty much every option except Navigation. The window sticker said 39770 and the sales manager said that he could get it to me for 33229 with incentives and my affiliate plan. On a 36 month 15k/yr lease, he quoted me 576 w/tax. That seems high to me based on the lease calculator and the figures of 52% and .00163 listed above. Could I be missing something?
  • hartthartt Member Posts: 79
    Hi Car_man. Can you please provide the numbers for the '06 and '07 300C for 3yr/15k?
    Thanks for your help.
  • ningoglianingoglia Member Posts: 1
    I found a SRT at 8K off MSRP. Dealer is telling me the best they can do on lease rate is .00301 on a 12K lease for 36 months with 58% residual. Seems high based on some of the posts I have read here tonight. Going to get the car tomorrow but have not commited to a loan or a lease.
  • andre1andre1 Member Posts: 85
    The dealer is dead WRONG on that lease rate! Below is the link to the December lease rates to the 300C. If they don't give you this rate, move on to another dealer. There are still hundreds of these 300C SRT-8's left on dealers lots.

    300C Lease Rates
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go, hartt. Chrysler Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Chrysler 300C with 15,000 miles per year are .00219 and 52%, respectively. When negotiating your lease on this car, make sure to take the $1,500 lease cash that is being provided on it right now into account. This cash will help you to negotiate an attractive capitalized cost for your lease.

    DaimlerChrysler is no longer providing lease support on 2006 models. As a result, if you were to lease one through Chrysler Financial you would have to use its standard lease program, which is not very good.

    Car_man
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  • andre1andre1 Member Posts: 85
    Chrysler is still practically giving these 300C SRT8's away! I just got a brand new 2007 300C SRT-8 for over $5000 off MSRP. Also, I leased the car through Chrysler for 36 months for less than $500/month with NO money down! Thanks to Chrysler's inability to manage inventory, the dealers are trying to unload all these 300C's. If you prefer to get a loan rather than a lease, you can probably get about $9000 off MSRP on a remaining 2006 model.
  • hansk31hansk31 Member Posts: 2
    Andre1 that is a killer deal!

    May ask your MSRP and the money factor, cash out of pocket, etc on your lease? Im out for shopping this weekend and will close on that if I get it!
  • andre1andre1 Member Posts: 85
    Just follow the same steps as I did below and you should get a similar deal. My out of pocket is $1500 (first months pymt + Acquistion fee of $700 + doc fee + tag fee). You might be able to roll some of this into the lease if needed, but do NOT put any money down as cap cost reduction.

    1) Go to CarMax.com (they sell new cars also) and pull up a new 2007 300C SRT8 (LA, Atlanta and Orlando are their Chrysler locations). You will see that CarMax is offering the 2007 SRT8's at around $5000 off MSRP.
    2) Send the CarMax quote to your local dealers. Tell them to match or beat this price (amount off MSRP).
    3) Once they match or beat the price, use the links below to calculate your payment. Ensure that the dealer does NOT mark up the money factor and gets you the correct residual. The 12K residual is 2% above the 15K residual.

    I completed the above steps in about two days and got a great deal.

    300C Lease Rates

    Lease Calculator
  • hansk31hansk31 Member Posts: 2
    Are those lease rates accurate as compared to what chrysler finance is offering? Thanks.
  • andre1andre1 Member Posts: 85
    Those lease rates I posted are exactly what Chrysler is offering in January. I received this rate when I leased my 2007 300C SRT8 this week. Also, Chrysler's lease acq fee is $700.
  • jdiversjdivers Member Posts: 4
    Hello! Well my Ford Edge fell through and while the one they ordered me is being built I really started looking at these too. I called and got a quote for a 07 Touring Signiture series and the money factor seemed really high (especially compared to Ford, for almost the same car the payments were about $130 more). What is the current money factor for a 39 & 48 month lease?
    And what should my payments be for:
    MSRP- 30,925 Selling- 27,934
    MSRP- 29,680 Selling- 26,799

    I will owe about $2500 on my trade and was going to put $2000+fees down.

    Also, do you know of any 3rd party leasing companies that have decent lease rates?

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Wow, congratulations on getting such a large discount on your Chrysler 300, andre1. For some reason, I have always liked this car...and you got the SRT-8! Enjoy your new ride and don't get any speeding tickets ;).

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jdivers. Chrysler Financial's current buy rate lease money factor and residual value for a 39 month lease of a 2007 Chrysler 300 Touring 2WD with 15,000 miles per year are .00273 and 52%, respectively. Don't bother looking at a 48 month lease of this car, its 4 year program is terrible. When negotiating your lease on this car, make sure to take the $1,000 lease cash that DaimlerChrysler is currently providing on it into account. It will help you to negotiate an attractive capitalized cost. I am not aware of any independent banks that have attractive lease programs on this car right now.

    Car_man
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  • matt_fmatt_f Member Posts: 3
    Car_man - Can you please tell me the current money factor and residual value for a 300C (with Nav or without) for a 36 or 39 month lease at 18,000 mile per year? Any other advice you have on leasing this car would be appreciated.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'd be happy to help you out, Matt. Chrysler Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Chrysler 300C (regardless of whether it has navigation) with 15,000 miles per year are .00223 and 52%, respectively. The money factor for an otherwise identical 39 month lease would be the same, but the residual value would drop to 51%. 15,000 miles per year is the highest mileage allowance that Chrysler Financial publishes residual values for. If you need to drive more then this, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty. When negotiating your lease on this car, make sure to take advantage of the $1,500 lease cash that is currently available on it. It will help you to negotiate an attractive capitalized cost for your lease.

    Car_man
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  • matt_fmatt_f Member Posts: 3
    This site was very helpful for me in my buying process. Here are my numbers:

    2007 Chrysler 300C with Nav & soundgroup 2, sunroof, UConnect, wood trim, & luxury group 2.
    MSRP $39,500
    Invoice $36,544
    Purchase Price $34,200
    Lease for 39 months at 18k per year
    $530 including tax.

    I probably could have got if for a little less, but I am happy with the deal. O'Neil Chrysler in Raleigh was very easy to work with. I walked on the lot and had this deal in 15 minutes.
  • jremyjremy Member Posts: 1

    I'm interested in leasing a 2007 SRT-8 with both option packages and all of the toys. I'd appreciate some feedback on a lease package that a local dealership has put together for me.

    MSRP: $48,200
    Rebate: $2,500
    Downpayment: $0
    ---------------
    Cap Cost: $45,700

    Residual: .61
    Money factor: .00263
    Mileage: 12K
    Term: 39 months

    Monthly payment: $640.83

    Due at signing: $824

    No sales tax state.

    When I plugged in these numbers into the online lease calculator, it came back with $615/month. When I questioned the $25 difference, the dealer said that the bank acquistion ($700) and document fee (~$383) is included in the monthly payment and so pretty much makes up the difference.

    I'd appreciate some feedback on these numbers. Is this a reasonable deal?

    John
  • jcee2jcee2 Member Posts: 8
    I looking at a 300 Limited AWD in NY. Can you provide Money Factor and Residual. Thanks
  • alinagm1alinagm1 Member Posts: 3
    Would you kindly let me know what dealership this was? State? Phone Number? YOU GOT AN AWESOME DEAL. I'd love to get contact number for this car dealer too. Thanks in advance.

    Alina
  • alinagm1alinagm1 Member Posts: 3
    Where did you get this car? What state? What an awesome deal! Please share more info.

    Alina
  • matt_fmatt_f Member Posts: 3
    I leased my 300C from David O'Neal Chrysler in Raliegh, NC. If you would like any other specific information, you can feel free to email me.
  • alinagm1alinagm1 Member Posts: 3
    We are looking to lease a 2007 Chysler 300C,
    MSRP of $34975
    Navi and SOund group II
    Total sticker price $37780.

    VIN #: 2C3KA63H47H754054

    We are looking to trade in a 2005 Chevy Tahoe 41000 miles, with payoff of $32,000. We don't want to put any money down if possible. Can you try and figure out a best lease possible scenerio with this pay off on Tahoe? We have appreciated the forum and all the help. However, now we have our own specifics. Thanks in advance.
  • outovtuchoutovtuch Member Posts: 2
    Was called by a Chrysler dealer that I could turn in my lease with no penalthy provided I lease/buy another Chrysler product since lease had less than 4 months left on it. I took them up on the offer and went in for a test drive.

    First the 300C then the Magnum SRT8. When I lease a vehicle it's all about a subvented lease. I don't care what color or options a car has as long as I'm in a high end vehicle for the cheapest price available. Was turning in a 04 Crossfire with MSRP of 35.5K that I leased for 39 months for $299 a month + tax and 2300 down. I decided on a 36K MSRP 300C that would be leased at similar terms, which came out to $400 a month including tax with 0 down. This was my target. Whether it would be met I had 0 expectations of since I'm not in a forced position. To me the dealer is in a must deal position since he had 27 07 300C on the lot with not a single customer at the dealership for the 3 hours I was there. Now I know why Mercedes Benz is trying to sell off the Chrysler division. The 300C is no longer the must have vehicle it was when it first made its debut. Just like any car on the market after a few years no one wants it. With any high volume produced car if you don't offer heavy incentives it's not going to move.

    This was the first deal they came back with:

    $7K down and $460 a month including CA tax for 27 months and 10.5 K miles a year. Honestly, my first reaction was an immediate burst of laughter. I couldn't control myself. You can't con a con. After the fun it was time to go on the offensive. They counter with a $490 a month including tax for 39 months with 0 down. I then told them about the deals I was offered through other dealers. I was offered a 300C SRT8 with an MSRP of $48K for $530 a month including tax for 39 months. They tried to lease me a $35.5K vehicle for almost the same price as a $48K limited production SRT8. This was for a previous customer too. I proceded to tell them about the $460 a month including tax 0 down 27 month lease on a $43K MSRP Infiniti FX35 I was given and a $40K BMW X3 for $470 a month including tax 0 down for 24 months. As I said I'll drive anything nice. The people who get the shaft are those that demand a certain car, a certain color, certain packages, when in reality all these cars are fantastic. If you're buying a car then fine but this is a lease that you're turning in so why be picky. Dealers always jump on the weak.

    I'll wait for my Crossfire lease to expire before grabbing a subvented lease on whatever is available within a month of my expiration. My hunch is Chrysler will offer better promos deeper into the year as the inventory of these vehicles continues to build up.

    I'd also like to mention that the 07 Magnum SRT8 I drove had a $42K MSRP and a 5K markup while a dealer just 10 miles away had 3 06 new SRT8 leftovers that they were pushing for 8K off MSRP. Do your homework and never be in a rush. That is my experience I thought I'd share with the board.
  • tao_tao_ Member Posts: 1
    Car_man,

    I got this quote from a local dealer, I was wondering if it might be a good deal or not? This is a fully loaded 300C SRT-8, MSRP Given: $48,275...

    I am in Illinois, by the way...

    From dealer:
    "
    hello,
    heres the info you requested on the 2007 300 srt-8 you can lease this car for 597.00 a month that payment reflects no money down from you except your first payment and plates all the taxes are rolled in the lease if you should shop the price you need to remember that also that is 12k miles a year if you should have any questions you can contact me ************* directly @***-***-**** hope you find this satisfactory .
    "

    Thanks for your help...
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'm glad that you found this site so helpful, Matt. Thanks for taking the time to share the details of your deal with everyone. Enjoy your new ride :) .

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi John. It doesn't appear as though you are being given any sort of dealer discount on this car. I am not intimately familiar with what the market is like for the 2007 Chrysler 300 SRT-8 in your area right now, but if I was in the market for one I personally would want a discount on its selling price in addition to the $2,500 cash incentive.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jcee2. This car's lease program varies by term and mileage allowance. 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. Chrysler Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Chrysler 300 Limited AWD with 15,000 miles per year in your area are .00077 and 48%, respectively. When negotiating your lease on this car, make sure to take the $1,500 lease cash that is currently available on it into account. It will help you to negotiate an attractive capitalized cost for your lease.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi alinagm1. This car's lease payment will depend upon what sort of selling price you are able to negotiate on it. I personally would shoot for $500 over dealer invoice on a 2007 Chrysler 300 right now. When the $2,500 lease cash that is currently available on the 2007 Chrysler 300C it taken into account that puts you at around $2,000 under invoice. You can look up this car's dealer invoice price by visiting the following section of this site: Edmunds.com - New Vehicle Pricing. Once you have an approximate selling price, let me know and I will be happy to estimate what this car's monthly payment should be for you.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi tao. 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 its selling price is.

    Car_man
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  • srtochosrtocho Member Posts: 1
    Can you trade a car(paid for) in on a lease deal? This is return business to the same dealer.
    (I hope this falls under/ "there are no stupid questions,just confused people")
    Thanks
  • slydog_300slydog_300 Member Posts: 2
    Just want to know what happens at the end of the lease on my 300. The dealer never told what to expect. If I choose to purchase the car, does chrysler send info on payments and all I need to do is accept and move on or do I need to bring the car in for the dealer inspection. Point is I want to keep the car and I want add a new grille and tint the windows. Since this is a lease I have put this off.

    Thanks in Advance
  • slydog_300slydog_300 Member Posts: 2
    I would say yes, since the dealer asked me did I want to trade in my truck when I was doing my lease. It would just be more of a cash downpayment which would make your payment lower, but would be a waste even if you intend on buying the car at the end of the lease, because at that point you will refinace at the value of the car at the end of the lease. Your trade in will have no effect at that point.
    Bottom line, your trade in would amount to no more than pocket money for the dealer.
  • gary154gary154 Member Posts: 5
    I am interested in leasing an '07 Limited AWD for 36 months with 15,000 miles allowed per year. The Invoice price of the car is $34,152 and the TMV price is $35,395. I live in the Chicago area. I do not want to put down any money except for the first month's payment. My credit rating is excellent. What kind of monthly payment can I expect? I just read that 300 sales are down over 20% this year and I also think Chrysler is now offering $2500 incentive on a 300 lease - I could be wrong about that though. Any help one can provide will be greatly appreciated.
  • jgreenbergjgreenberg Member Posts: 35
    Im pricing out the 300M Touring edition (with selected options) at a TMV of $27,123 (after the $2500 incentive). What is the current buy rate lease money factor and residual % for a 36 month 12K lease? What lease payment does this calc to (including NJ tax of 7%)
  • qbrozenqbrozen Member Posts: 33,298
    Im pricing out the 300M Touring edition (with selected options) at a TMV of $27,123

    Good god I hope not! A new 300M will have been sitting on the dealer's lot for years now!

    ;b

    pssstt... its no longer called the 300M

    '11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S

  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi srtocho. This is not a stupid question at all. Yes, you absolutely can trade in a vehicle when leasing a new one. Having said this if you decide to do this, it would be in your best interest to have the dealer that you trade your vehicle to cut you a check for it rather than using the proceeds from it as a down payment for your lease. I always advise consumers against making large down payments when leasing. Those who do risk losing part or all of their down payment if their vehicle is totaled in an accident or stolen and never recovered.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello slydog_300. If you decide to purchase your car at the end of your lease you will not have to get it inspected. Just place a call to Chrysler Financial a month or two before the scheduled end of your lease and tell them that you are considering purchasing your car. I said "considering" because from time to time banks are willing to negotiate the lease-end purchase prices of vehicles. More often than not they won't, but it doesn't hurt to see if they would be willing to give you a discount before telling them that you definitely want to buy it.

    You can make the modifications that you mentioned now IF you are absolutely positive that you will purchase your car and the end of your lease. If you aren't sure that you will then you would be better off waiting to make them.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi gary154. I can give you an idea of what this car's monthly payment will be like. In order for me to do so though I need to know both its MSRP and its selling price. I can use the dealer invoice price that you mentioned to arrive at an approximate selling price, so just let me know what the MSRP is and I'll crunch some numbers for you.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for, jgreenberg. In your area (DaimlerChrysler's Northeast region), Chrysler Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Chrysler 300 Touring with 12,000 miles per year are .00195 and 53%, respectively. When negotiating your lease on this car, make sure to take advantage of the $2,000 lease cash and $500 bonus cash ($2,500 total) that is currently available on it. This incentive will help you to negotiate an attractive capitalized cost for your lease.

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