Chrysler Town & Country Lease Questions

CarMan@Edmunds

Hi Mark. Here's the information that you're looking for. Through November 5th, Chrysler Financial's buy rate lease money factor and residual value for a 39 month lease of a 2008 Chrysler Town and Country LX with 12,000 miles per year are .00294 and 52%, respectively. Chrysler is currently providing a $1,000 cash incentive on leases of this van through Chrysler Financial. Make sure to take this cash into account during your negotiations.

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CarMan@Edmunds

Hi mocco09. I have not compiled a list of the vehicles that qualify for Chrysler's pull ahead program, but most popular models do. If you tell me what vehicle you are currently leasing, I would be happy to look into whether this promotion is currently available on it.

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CarMan@Edmunds

Hi fallsparky. The 2008 Chrysler Town and Country that you are interested in probably has a spread of around $2,900 between its full MSRP and its dealer invoice price. Add to this the $1,000 cash incentive that is available on leases of it through Chrysler Financial right now and you have a total of around $3,900 to play with. You were quoted a discount of $4,965 on the specific model that you are interested in. That is a very attractive selling price.

Having said this, the money factor that you were quoted looks a little high to me. Through November 5th, Chrysler Financial's 36 month buy rate lease money factor for the 2008 Chrysler Town and Country Touring is only .00216 for consumers who qualify for its top credit tier. Make sure that the dealer you are working with uses this factor to calculate your monthly payment.

Please feel free to check back with me next week to find out what Chrysler's new November lease program is like for this van.

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bf740

Looking into leasing a 2008 Grand Caravan SXT, with destination and power liftgate the sticker is 27,935

Lease Loyalty 1000
Cash Allowance 1000
Dealer Disc 1673

Total 24262

Residual 14,246.85
Money Factor 0.00219
36 month inc tax 379.29
Out of Pocket 1631.79

I have been doing some research and it looks like the difference between invoice and sticker is 2249, so I obviously need to negotiate more...are there any dealer hold backs i do not know about? Also the dealer said the cash allowance is a match program, i don't see that info on the website as a match program, only a cash allowance.

Any help would be greatly appreaciated.

offlease

Your residual value is set at the time that you originally lease the vehicle. It is on your contract and you have to add sales tax, title and plate fees to it. When you get to the final 120 days of your lease, you can purchase it directly from Chrysler Financial by calling 800-387-6962 and they will mail you the paperwork.

Chrysler dealerships do not "have you" just because they know you are overmileage. They do not benefit from you buying out your lease. Only new units count towards their goals and they can't make a profit selling you your vehicle at residual. It's not the same as selling you a vehicle off their used car lot.

Anyhow - you owe it to yourself to look at all of your options. You may think that the repairs on the vehicle make it worth buying out the lease, but you need to compare those numbers (taking the warranty into consideration) with the option of getting into another lease, extending this lease or purchasing another vehicle. Most Chrysler dealerships have a "lease renewal" department that is in place specifically to help you get all of these facts. The final choice is up to you, but you need to know your options. Too often someone will buy out their lease because they think it will save them from having to pay for damages, but a year later they have much bigger expenses come along that weren't planned for. Look at your options - - if you don't feel like your dealer is ready to show you these options, then get another dealership.

Also - keep your "vehicle turn in fee" in mind. Again - your dealer should be contacting you asking you to come in and do an "options review" and to go over your vehicle so that you are completely comfortable with what the final inspection entails.

slackjaw

Can anyone post the details on the "deal of a lifetime" leases for a 2008 T&C such as lease cash, MF, residual, etc? I must have seen 15 Chrysler, Dodge, and Jeep commercials last night while my wife forced me to watch that dancing show.

We are looking to get into a well-optioned touring T&C on a 36 month. We have not been able to get an EC from any of our old contacts from when we lived near the Newark, DE plant.

Thanks!!

pg822

Hi Car_Man ---- I am turning in a 2005 Chrysler T&C Limited with 3 lease payments left of $494.01. I am, in turn, looking to lease a 2008 T&C Touring with navigation and dual DVD. The dealer said that I would not qualify for the $1000 lease loyalty rebate (but I do get $1500 rebate) since I am handing in my car prior to the end of the lease, yet they are not holding me accountable for the remaining payments. They gave me a quote on the new car for 39 months, $0 down (except 1st month's payment) for $515/month. I am trying to figure out if this is a good deal. Can you help? They are not releasing the money factor/residual that they are using. Would Chrysler Financial give up those numbers to me?

rmbalisa

If anyone needs any employee choice numbers for discounts (5% below invoice), let me know...i have two myself, and have access to a lot more if need be

slackjaw

Yes, please! Sent you a PM.

gaubow

I just left a dealership where I really feel comfortable with the salesperson. I would like to buy from him, but also think that I should get a competitive quote. I thought that if I were to show everyone what my deal is, they may be able to tell me if I even should bother shopping around. Looking to lease a 2008 Limited Town and Country, with everything but engine heater and power third row.
Sticker.............$39740
Selling price.....$36770
Rebate............ ($1500)

for a total of $35270
After alittle more discussion, he came back with a final offer of $34500

So, now I am feeling pretty good about it seeing how I am now down $5240 from sticker. Here is where I can't tell what is what:
Money factor .00190
Residual value 50%
$2000 down to cover taxes and title
He said that this should all work out to somewhere near 490/month

Can someone with some experience give me some feedback? Thanks for helping me and hopefully this post will help someone in the future.

towner1

yes would like ee # thanks.

rmbalisa

I think it is a pretty good deal. I priced it with the Friends discount (1% below invoice) and it shows up as $34,300. While the Employee Choice shows up at $33,642 + $200 program fee. But still not bad for what you get

llubak

I am mom of 2 planning to lease a 08 T&C Touring. I am at the end of my lease for a 05 Pilot w/ very low mileage. I've been round and round with dealers. I'm starting to think buying might be a better option but am undecided. Do you happen have any EC numbers left? If you do, I'd love to have one. It might finally put an end to the the stress and constant back and forth.

pg822

I received a quote from Chrysler dealership that I think is pretty fair. It is for a '08 T&C Touring with Package L, Navigation, and dual DVD. The quote is $515/month for 39 months with not a penny down except for the 1st months payment. Here are the numbers I was given:

Capitalized Cost - $32,623
Residual - $18,166 (53% of the total MSRP (with options)
Money Factor - .00277

There are only two "issues" that I need to be clarified when I go to the dealership tonight:

1) Using the numbers above, that should equate to $511/month instead of $515/month. I am not going to whine about $4 though.

2) The salesperson stated that he is selling me the car at invoice, yet every car site I look up shows the invoice amount as $31,277 (before tax, title, and license). There are about $670 of extra fees in there somewhere and I don't know if they are marketing fees or if they are charging me because they needed to get the car from another dealership. Does anyone have any ideas???? Thanks!

pg822

What is your lease term? I got a quote for a 39 month term with a 53% residual and a money factor of .00277. Your deal sounds pretty good!

slackjaw

For comparison's sake, I have been quoted a 36 month at 55% and .00198.

johnb44

Hi Rmbalisa,

I would be interested in acquiring one of the employee choice numbers if you still have access to one. I am negotiating for a 2008 T & C limited and looking to lock in in the next week or so.

Thanks for your help!!.

ilikecars4

hi i saw your post i wanted to know if you could please send me an employee choice number if you still have available thank-you so much

rp-knight

What is the current resudual for an 08 town & counrty for 36 months and 15000 per year?

How abount money factor?

Rick

singleman5

Hey rmbalisa if you have anymore or can get anymore employee choice numbers for discounts i would appreciate it. Looking to turn in my 2005 Jeeep for the Lease Pull Ahead for a new Sebring. Do you also know the particulars of this program Thanks

beav01

Hello,

We looked at a 2008 T&C today in Michigan. The details of the lease are as follows:

MSRP 31,320
Supplier Discount (1% below invoice but I don't have that price currently)

Term: 36 months
Miles: 12,000 / year
Down Payment: $2000
Residual: $16,600
Incentives: $1500 + $500 Bonus cash rebate. He also mentioned another $500 rebate but I'm not sure if it was factored in. I'm getting more details.
Lease Payment: $378.13

I indicated to them that the last time I leased I went somewhere else because I was offered an employee discount price. The salesman said that there really isn't an employee discount price anymore as of the start of the year. Is this true?

What I was surprised was that when I went to look at the vehicle online the "internet price" was pretty darn close to what I remembered for the supplier discount price. They listed it as $31,320 - $3589 = $27,731 for an internet discount.

I don't know what percentage rate they used but am checking on it currently.
Is there any sweet spot for leasing a T&C with regards to the best residual? Also do the Chrysler vehicles have a better lease option than the Dodge vehicles?

Thanks!

CarMan@Edmunds

Hi Rick. Here's the information that you're looking for. Chrysler Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Chrysler Town & Country LX with 15,000 miles per year are .00221 and 49%, respectively for consumers who qualify for its top credit tier. When negotiating your lease, make sure to take advantage of the $1,500 lease cash that is currently available on this model.

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CarMan@Edmunds

Hi beav01. What you heard is correct. Apparently in an effort to save money, Chrysler has eliminated its Employee Choice purchase program that provided extra low purchase prices on Chrysler, Dodge, and Jeep vehicles to its employees. Employees can still purchase vehicles through the Company’s Friend’s discount program, but at prices which are $300 to $400 higher than were available through the Employee Choice Program.

As far as the "sweet spot" for a lease of this model goes. It appears to me that a 36 month lease would yield the best blend of a reasonable monthly payment and term. The current lease program for the 2008 Dodge Grand Caravan does not appear to be significantly different than the Town & Country's program.

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juna

I was quoted on a T&C Touring with only the Family package (listed at $495) an MSRP of $28,925 and an employee discounted price of $25,812. Then there was a $1500 cash allowance, $500 auto show rebate, and $500 bonus cash. The buy lease rate/money factor (or whatever it's called) was quoted at 0.00198 for a 27 mo. lease and 0.00181 for a 36 mo. lease. I didn't get the residual value.

The monthly payments quoted to me on a 12k mile lease with a total of $613 down on a 27 mo lease were $337. The payments on a 12k, 36 mo lease with $607 down were $331.

I'm looking to get to $300/mo if possible.

How does this sound? Car man, can you let me know if the rebates were taken off the employee discounted price or if they were taken off the MSRP? Basically, to get to $300/mo I'd be asking for another $1000 off the final selling price, right? Does this sound feasible?

juna

Also, what is the residual value on a T&C Touring K package for a 27, 36, or 39 month lease?

fishacura

CAR MAN...Any idea what residual and money factor would be on a Touring with 12,000 miles per year???

I am going in tomorrow and would LOVE to know this detail. THANKS!

juna

Did anyone else have to agree to a $425 "Disposal Fee" due at the end of their lease on a Chrysler T&C? I was told by the dealer that this is mandated by Chrysler on all leases. Is that true? Did anyone else get this "Disposal Fee" tacked onto their lease papers?

I suspect I got swindled.

ilikecars4

regarding disposal fee what the dealer told you is true it is 425 dollars and mandated by chrysler. Of note most outside finacing also charges disposal fees these days. However outside financing without the fee isnt worth it because you will lose all incentives from chrysler financial * Important , if at the end of your lease you are going to lease a chrysler vehicle 99% of the time chryysler will not charge you the dispostion fee so if you are planning to lease another T&C after this lease you will not pay this fee,additionally chrysler many times will allow you to terminate a lease 3-4 months early in exchange for $1000 loyalty rebate if you are gong to release a chrysler. So like mentioned above if you are planning to release a chrysler i wouldnt worry about the fee.The fee has been around for a few years it has gone from$275 to its now current $475 since late 2004. However this is in line with many other manufacturers and banks. I.E. my 2006 honda has i believe a $375 diposal but if I lease another honda the fee will be waved

devichitra

Can anybody explain How the MSRP and Lease fee are related? Coz i have the dealer who involves in the Dealer Participation Program which gives $3040 off MSRP and have Friends and Family #, which gives 1% off invoice. will this be applied FF#. or before.
Thanks.

CarMan@Edmunds

Hi juna. You're fortunate that you qualify for the employee purchase program. Unfortunately, I've heard that in an effort to save money, Chrysler recently eliminated its Employee Choice purchase program. Chrysler employees can still purchase vehicles through the Company’s Friend’s discount program, which provides good prices, but they are $300 to $400 higher than were available through the Employee Choice Program.

If you were to lease a Town & Country through this program, you would receive a significant discount on the capitalized cost that is used to calculate your monthly payment. Any available cash incentives would be subtracted from the low employee price.

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3kidmom

Hi all,
Looking to lease an 08 T&C Limited with most avail options. Still waiting on a couple quotes but looks like we going to come in arount 35,500. Looking to do a 36mo lease w/ 12,0000. Anyone know the terms/rates etc? What kind of mo payments should we be looking at?....Residual value?
Plan to go in tomorrow and want to make sure I'm well informed!
Thanks

CarMan@Edmunds

Hi fishacura. Chrysler Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Chrysler Town & Country Touring with 12,000 miles per year are .00129 and 53%, respectively. When negotiating your lease on this van, make sure to take the $1,500 lease cash that Chrysler is providing on it into account.

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CarMan@Edmunds

Greetings devichitra. It sounds like you are new to leasing. You definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment. They should answer any general questions that you have about how leasing works. I would be happy to answer questions that you think of in the process of reading them.

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CarMan@Edmunds

I would be happy to help you out, 3kidmom. Chrysler Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Chrysler Town & Country Limited with 12,000 miles per year are .00129 and 48%, respectively. When negotiating your lease on this van, make sure to take the $1,500 lease cash that Chrysler is currently providing on it into account. It will help you to negotiate an attractive capitalized cost for your lease.

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viking3966

Can anyone help me in letting me know what are the current one time pay leases for 24 months on a Town and Country in metro detroit. I currently have a lease on a T & C which will expire soon. What should I expect.

lucias_dad

I just leased an 08 T&C Signature Series Value Package. I am eligible for the employee program. The dealer I went to (Great Lake Region) was local and not the dealer I would normally go to. However, they had the exact car my wife was looking for. I leased the car for 27 months with 15k miles per year. I didn't put any money down (Sign and Drive) My lease was $511.17 per month. However, I found 3 other dealers that are doing the same leases on exactly the same car with the same terms for $386-$399. I have never leased from Chrysler (I get employee on Ford and GM too) If the numbers are the same why is the lease I signed so much greater than the others? Aren't the dealers obligated to give the same money factors and residuals? Shouldn't the lease calculations be exactly the same? I was assured by the dealer that the lease would be the same from the dealer to dealer because I got employee pricing. Obviously this isn't the case. I contacted Chrysler Financial and they can't understand why their is such a large discrepancy. I need some help understanding this.

pmwalker

I don't have personal experience with this, but a friend who leased a T&C a year ago went through this same thing. He had a fixed selling price with an EC discount & rebates, yet every dealer he went to (several) would come up with a different lease price. It seems that many dealers are pulling some funny business with the lease numbers. I always believed that every dealer was obliged to use the same chrysler financial lease numbers (residual & money factor), the same that car_man often publishes in this forum, but it seems that some use whatever that want. My friend ended up pitting the dealers against each other and they were fighting for the sale. In the end ALL the dealers were all able to match or beat the lowest initial lease price. Unfortunately this takes a lot of time and effort that most people don't really want to deal with.

I would like to know how can dealers do this? How can they so easily change/manipulate lease numbers when all of the discounts are supposed to be fixed???

rmbalisa

you have to remember that you did not put any money down. usually you put at least your first payment down + doc fees...so if its truly "sign and drive"...that was all lumped into the total. and does your $511 include taxes? sounds like it does. the other "quoted" prices probably do not. also, your 15k/yr mileage is considered high mileage. those other quotes might be 10k or 12k. always read the fine print for that type of stuff. also, the dealer may have some play with the money factors, depending on your credit. i know for retail accounts, they can add up to 2% to the buy rate, which the retail credit analysts quote the you and the dealer. not sure how that affects money factors though. residuals are the same though. hopefully they quoted you with the EP price listed on the invoice.

lucias_dad

Actually, I have two written quotes from 2 different dealers with the same exact terms, sign and drive, everything rolled in. It appears from the quotes that they are calculating the lease differently. I know that dealers can mark up the money factor for retail leases but is an EP lease considered a retail lease by Chrysler? All of the the other dealers I have contacted give EP leasees the Chrysler buy rate. The dealer I worked with considered an EP lease a retail lease and as such marked it up. They don't do very many EP deals so that could be part of the confusion. The other dealers probably do 60% of their business in EP deals. The other major difference is which MSRP is being used to calculate the residual. The other dealers I am getting the quotes from are using the gross MSRP before the package discount and the dealer I dealt with is using the net MSRP. The residual rates are the same but the end result is $1500 different. Between the residual and money factor this difference is about $2500. This makes a big difference. Thoughts?

fredm6

I am planning to lease an 08 T%C Touring with New Day Signature package. recently if have found three basic prices (without options) for this model. They are: $27,700, $27,895 and $28,210. I assume that the last one is the latest price increase. It appears they have now added a $500 bonus. This just offsets the price increases since the introduction of the 08 models. On the Chrysler website I have priced this model at $32,185. I am currently leasing and 05 T&C and will qualify for loyalty cash of $1,000 and also the current $1,500 and $500 bonus, making a total of $3,000 off MSRP. The net price comes to $29,185. I want 36 months with 15,000 miles. When I calculate the lease estimated payment it comes to $334 without tax. The total monthly paymet is $357.38 with tax in my county. Does this payment seem low??. It also does not figure in any dealer discounts. I have been quoted $440 payment for same. I am confused. What should I expect to pay for T&C with that MSRP?

lonewalden

Using Edmunds lease calc. I come up with a pretax payment of $441. This is assuming the residual is 53% on the van. Also to answer your question, I looked up similar Town and Country's at Fitzmall. They are roughly $5000 off MSRP (including the $1500 rebate), so I would shoot for that price.

fredm6

Thanks for the info. I still do not understand why the Chrysler Website came up with a monthly payment of $334 and with tax $357. I used their lease calculator with all the correct figures and incentives, but no dealer discount. The $441 per month that you got seams more realistic. Where is Fitzmall? Thanks again.

jeffsuch

I am getting ready to lease a new T&C and would like to know if anyone has an xtra Friends #. This will be our 3rd T&C. Thanks

mike6711

I will be buying a T&C by the end of the month, lease actually, and would like to know the residuals and money factor for the NY metro area. Would be leasing a T&C. 12K miles/year, 27 or 36 or 39 months, Touring Signature Series. Also, is there conquest cash available, some dealers are advertising it.

Thanks

mommyof4ne

Do any of you start with a lease intending to keep it after your lease is up? Leasing would help us get into vehicle at the price we need any thoughts??

Here is pricing:
MSRP 32500
Invoice 29725

dealer price including my rebates is 25425. Payment $317 plus tax---haven't been to dealer for a breakdown of the payment yet.

We would still be at 17000 after 3 years.

fredm6

I am leasing an 08 T&C with Signature New Day Package. I have had a difficult time finding out all the incentives. Most websites do not list all of them. Three dealers offered me the following: $1500 rebate, $500 bonus cash, $1000 owner loyalty , $500 Auto show Bonus (Great Lakes Region due to Auto Show in Cleveland), $750 conquest cash. This totals $4250 in rebates and incentives before any dealer discount. The fourth dealer said that I would not qualify for the conquest cash since it is only if I were driving a competing brand (Ford, Chevrolet, etc). I called the Chrysler Rebate Center and first was told that I did qualify for conquest cash. I called a second time and was told that I did not qualify. I now feel that the three dealers were including it, but taking it off as part of their dealer discount. The fourth dealer gave me the best price. There is a lot of confusion out there on rebates and incentives. I would like to see it in writing somewhere, but that is difficult. Most of the car quote websites do not list all the rebates and incentives. As to your lease term, I think that the better deals will be on 36 months. It appears to be the "sweet spot" this year. I would avoid 39 months. I am on 39 months now and wish that I had gone for 36. I had had a big range in quotes so do your homework and be persistent. I am still not sure I am getting the best deal.

fredm6

Thats a fabulous deal. I am getting my new T&C on Monday with the identical MSRP and didn't get near as good a deal as this. Where do you live?? As to buying the car that you will be leasing, I would advise against this. You may be able to negotiate a good price with whoever holds the lease. Since you say you will have only 17,000 miles on it, that may be right for you. I always use the full mileage allowed and would just rather walk away and lease a new one. My present one will go to auction and I doubt if it will bring close to what the buy out would be now.

mommyof4ne

Glad to know the deal is good !! We live in Omaha, NE.....

I meant we would have a $17000 residual... I have no doubt we will exceed the mileage. Problem with not keeping the vehicle is--we are a two vehicle family and we each take turns getting the new vehicle every 5-7 years. So the vehicle that I get now will need to last 10-12 years. Can't afford two car payments at what prices are now days............

We have never leased before--so I am still trying to figure things out.

fredm6

Thanks for your quick reply. Since you are keeping the van that long then it may make sense for you to buy. I have not seen all of my figures yet, but my residual is $17,082. My upfront cost is $766.82. That amount includes the first months payment and 7% tax on the rebates and incentives and $75 document and transfer fees. I have no security deposit. I did not put any money down. My monthly payment including state tax of 7% is $394. The MSRP is $32,640 after the Signature package of $1525 is deducted. Mine did include the Sirus backseat TV, which I did not want, but had a hard time finding a New Day Signature edition in color I wanted with only the L package. Very few dealers in my area have these now and I had to deal before the Auto Show discount expires next week. Did you get the conquest cash of $750? Did you also get the owner loyalty $1000. How did you get such a great deal?? I also did not have a trade-in since I have been leasing a T&C. My total rebates and incentives were $3500. As I said in an earlier post some dealers were giving me the conquest cash, which they may have been taking out of their own discount. I should also add that this is for 36 months with 15,000 miles per year. My monthly payment would have been less with 12,000 miles per year although I did not get those figures. I did not use the pull ahead and am making another payment on my current van. If you use a pull ahead you do not get the owner loyalty $1000 or at least they prorate it. I am keeping my current van until end of lease and using the remaining miles to keep the miles off my new van.I thought about waiting until April 1st to see if the incentives got better, but decided to do it now. It is sort of like "Deal or no Deal"

mommyof4ne

I started with 3 different dealers about 2 weeks ago. We both hate the car dealing--my husband usually ends up walking out mad. So this time he said, "Make the deal and tell me where to sign". I started out looking at the LX adding the DVD --decided on the Touring after research and residual values. I told each dealer that I was going to three different places --if their price was the lowest that I would be back. One dealer told me he would give me $4300 under invoice on any car on the lot this month(That one was on the internet) so I went back to the first dealer (I liked the salesman better) and asked them if they would match the deal.

$4300 breaks down like this..... so they say. $2500 my rebates and $1800 dealer money. I do not qualify for $1000 lease loyalty.. do qualify for the $750 in owning another Chrysler product--So not sure where the extra over the $1500 is coming from...

I have not sat down with the finance guys yet...I have alot of questions about money down, first payment, etc. I do have a 2006 Caravan to trade--I told them they have to pay off my loan for it --to make the deal.