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Dodge Caravan Lease Questions
CarMan@Edmunds
Member Posts: 38,514
in Dodge
Hi everyone. Please use the following discussion to post any questions that you have about leasing a Dodge Caravan. Thanks.
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I bought extra warranty for electrical items plus and that cost me $650. I bought gap insurance for $148. It was the fist time I had bought added warranty on a vehicle but the quote was 200 dollars under what I received via e-mail from other private sellers on the net.
Good deal? Too late now but wondered what everyone thought.
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Could you please provide me with the lease numbers for the subject vehicle. I will be leasing for no money down, 12K miles, 39 or 42 months. I am a returning Chrysler lesee so I can take advantage of all cash back offers totaling $5K. MSRP for the vehicle is $27,830 with a selling price of $20,519. Thanks much for your help.
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I was going to use the little $ equity in the van towards the lease. If they give me $2000 for the old van, where do you think my payments would come in at? If they say $249, can I say " I need to be at $229?" Any insight would be appreciated. Thanks, Jerry
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Rather than negotiating this van's lease payment, negotiate the lowest possible selling price that you can on it. Once you know what it's price is, I can help you figure out what your lease payment should be.
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Is this fee negotiable? I've always had a GM vehicle and never came across this.
Your comments are appreciated.
Does anyone know, if a leased car is totalled, what happens? Is the vehicle replaced with another or ???
btw, the dealers I talked to all mentioned the $425 disposition fee and made it sound like it was non-negotiable.
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During memorial day, I saw one of my local dealer has a leasing offer like $249 a month for 27 month with zero down. I think that is a pretty good offer. $364 for 39 months? definitely too high!
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Here are the specs
1. Used with 7900 miles
2. 3.8 engine
3. Customer Preferred Package - Leather Interior Group
4. Premium Group
5. Power Sunroof
6. 6 Disc cde/dvd changer
7. 1 Yr Sirius Salellite
8. Rear Seat Video System
Base Was $27,100
All options was $34,000
Vehicle price came to $27,000 because it was a Demo Vehicle.
Got a CAP RED REBATE OF $2500
Trade of my car $1900
There are some other numbers I don't understand but bottom line is my monthly payment is $360.00 for 39 Months.
How does this sound? Thanks.
I am looking to lease a bare-bones Dodge Caravan with a list price of 20,720. I plan to offer a cap cost of $14,300. I would like to lease for 24, 27, or 36 months. I see leases advertised with 10,500 miles, which would suffice for my needs. Could you please let me know the 0 down payment, MF, and residual for the different time periods? Thank you - K
Using the aforementioned lease program, an MSRP of $20,720, and a selling price of $14,300, I estimate that this van's 24 month zero down, pre-tax monthly payment should be around $225. The payment for an otherwise identical 36 month lease should be around $196.
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As far as your trade goes, there's nothing wrong with trading in your current vehicle when leasing a new one. However, it would be in your best interest to have the dealer that you are working with cut you a check for any equity that you have in your trade rather than applying the proceeds from it as a down payment for your new lease. I always advise consumers not to make down payments on leased vehicles. Consumers who make them risk losing them if their vehicle is totaled in an accident or stolen.
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Are these two models exactly the same? And are these fair prices for 06 models---all with just standard features it appears. Located in suburban Phila., PA
Model/Miles/Price
SXT/16,378/$17,900 (marked down from $19,900)
Town and Country Touring/17,961/ $18,900 (marked down from $20,900)
Are these good prices right now, and should I consider leasing?
Thanks!
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I currently own a 1999 Dodge Neon that is completely paid off. Now that the third son has arrived, we are wanting to get a minivan. I went to the Dodge.com website and was looking at leasing comparing to buying and am leanind towards going that route. I have a couple questions since I am new to the lease game: 1) They have a lease program called Chrysler Financial Plus that is a little different than a regular lease. Do you know anything about this? (here is something about it from the site: When you've reached the end of your term, you can choose from three end of term options. You can Return the vehicle to your dealer or make a final Fixed Value Payment, or refinance the Fixed Value Payment." That leads me to question #2. My wife told me she is skeptical of leasing because when her friend's lease ran out, the dealership did her dirty on the "refinancing the Fixed Value Payment and her payment was going to be alot higher to purchase a "used vehicle at the ned of the lease than f she had just bought it new." Is this legit?
and my last question (for now) In previous posts, I see people talking about leasing demo vehicles and getting them cheaper, how do I go about that?
Thanks
PigPen9
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I am familiar with the Chrysler Financial Plus program. I believe that this is what is known in the industry as a balloon note program. Balloon notes are similar to leases in that they provide consumers with low monthly payments and an option to purchase their vehicle at the end of their contract for a predetermined price. The main difference between balloon notes and leases is that with leases the bank's name is on your vehicle's title, while with balloon notes yours is. Balloon notes actually are not very popular. The only places that they are really used are in areas where the tax laws make them more attractive and in New York where the since changed vicarious liability laws scared banks away from leasing. Most consumers just lease vehicles.
Having a high finance payment on a used vehicle is not really some sort of dirty trick. The end of term purchase prices of leased vehicles is set by banks and has nothing to do with dealers. Consumers who lease a vehicle pay for a certain percentage of depreciation on it over the length of their lease. Whatever portion of their vehicle's value is left at the end of their lease is its purchase price. At that time, consumers are free to walk away from their leased vehicles without paying anything or to pay cash for or finance their vehicle's purchase option price. Consumers who want to finance their leased vehicle after their lease is up should shop around for a good interest rate. They are not obligated to take one that is offered by Chrysler Financial or their dealer.
Demo vehicles are vehicles that dealers have put miles on, by using them for test drives, employee vehicles, etc... but that have never been titled so they are still technically "new" vehicles and qualify for new vehicle incentives. The problem that I personally have with demo vehicles is that dealers never seem to be willing to discount demos enough for me to personally justify purchasing what is essentially a low mileage used vehicle over an otherwise identical brand new one. If you are interested in leasing a demo vehicle, just ask the dealer that you are working with if they have any in stock.
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Could you please tell me the current lease rate and residual for a no-option DGC SXT? Looking to do a 36 or 39 month lease, 12K miles/year. We still have the 2006 but my wife is not fond of the restyled 2008 DGC and we may be able to work out something. Also, I've heard Dodge has a pull-ahead program for current lease customers, up to four payments. Do you know about this program and if so, do you know how long it is on for?
As always, thanks much.
DaimlerChrysler frequently runs an early lease termination program on the Dodge Caravan. If one is available on it now, I suspect that is the case, then you should be able to get out of your current Chrysler Financial lease four months early for free.
I'm surprised that your wife doesn't like the redesigned Dodge Grand Caravan. I saw it at an auto show a few months ago and thought it was great. I'm not a minivan guy, but I was amazed by how the rear captain's seats turned around to face a table. You can even get it with satellite TV for the kids.
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Chrysler is currently providing $4,000 lease cash on the '07 Grand Caravan. It is difficult to say whether it will have to increase its cash incentives on it to help unload the remaining '07 models now that the '08s arrived, but any increase in cash incentives will probably be offset by the fact that its lease program will get worse as the model year progresses.
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I don't have a good sense of what the market will be like for the redesigned Chrysler minivans yet. While I'm not a minivan person, I think that Chrysler did an excellent job with the new Caravan and Town & Country. Having said this, the demand for minivans has not been that strong. General Motors and Ford have replaced most of their vans with crossover vehicles. Even if the initial demand for the redesigned minivans is strong, I suspect that within a couple of months dealers will be selling it for close to dealer invoice.
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Net cap: 23874.47
Residual: 13767.50
Term: 36 months
Lease Charge: 2100.63
I calculated the money factor as .00155 - did I do that correctly? The odd thing is that if I use a money factor of .00155 instead of .00130 I come up with a difference in the lease charge that is within 30 cents of a complete extra payment. I did pay one payment as part of the up-front cost - does that matter at all in the calculations? It just seems weird that the difference is an entire monthly payment.
I am wondering if I got the best deal I could have, or if they adjusted things to account for the "good deal" they gave me in the negotiated price (it was a bit less than the 1% under invoice price - at least according to the invoice sheet after they added on the advertising, etc. costs).
Thanks in advance!
My wife and I are looking at buying a 2005 Dodge Grand Caravan SXT.
It's loaded.
A retired couple leased the van in 2005, and were (some how) able to get out of the lease early, and decided to lease a new 2008 G.C.
They did this all though the same dealership.
I've never leased before, but have researched it.
My questions are:
-) Would that retired couple get a trade-in value/credit toward the lease of their new van?
I ask that because dealerships sell vehicles to leasing companies (at or below "cap price"), and most likely make $$ on that transaction.
So, if the dealership *does* give a trade-in allowance/credit toward the lease of a new vehicle, then I would probably need to consider the trade-in value and retail value of the 2005 we're looking at much more.
However...
If the dealership does *not* give trade-in allowance, and just takes the old van off their hands because they're nice guys....then wouldn't whatever the dealership sells it for be "pure profit"...?
Because the way I'd see it would be:
Dealer sell to lease company, makes $$
--lease company makes $$ for 3 years
----gets turned back in to dealer after 3 years, who gives no trade-in credit
------goes out the door at $15k...this = $15k profit (right?)
They're asking $16,900 for it, and we're able to spend $15,000 (or less) with a $3k downpayment and anticipated $1300 trade-in (making our loan somewhere around $12k to $13k)
Thanks for the help!!
my question is that since I already signed the lease for this amount, isn't it all said and done now. Or do I still need to get a number to keep my van at this price. I would think that if it was submitted without the control number, and I signed the lease I should be in the clear now, and not have to pay the extra 1600 price difference. Any advice I can get would be great. Thank you.
Matt.