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Discussion Starter · #1 ·
As I talked about in the April Lease Deals post, I have been talking to different dealers about leasing 19's that they have or offering to order a 20. Numbers have not been coming back very good if at all. Most seem irritated that I want to lease Koons mostly and they gave a very low ball trade offer that has been beat by every other dealer and took 3 weeks to do it.

Here is a quote from a Dealer with 3K, 5K, 7K down on ordering a 2020. How does it look? It seems pretty far from the 583.00 that Dodge is advertising on their site. I know I upgraded though but was looking to get in around 650.00.

Is this a good price, what should I be asking off the ordering? I've never ordered 1 before. Is the Residual negotiable or is this fair (seems to be based on historic values) but still paying a lot a month to "rent" the car.

Any REAL assistance and comments would be appreciated. I have several other cars, so not wanting to have a huge payment just to have 200 more HP as this is basically the same car as my 19 Scat which I bought.
 

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That is how the poor stay poor. Unless you have money to throw away, don't do it. Buy something reasonable and keep it for 8 years. Were all those cars on your sig leased?
 

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Discussion Starter · #3 ·
That is how the poor stay poor. Unless you have money to throw away, don't do it. Buy something reasonable and keep it for 8 years. Were all those cars on your sig leased?
No, never leased, and I have all of those cars still. But I like the idea of play around with an HC for a few years then walking away and trying something new, or if I love it just buy it out.
 

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2021 JEEP Wrangler Unlimited Willys 4X4
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I’ve never leased a vehicle before.....but I was always under the impression that one was charged sales tax on the monthly payment only....not on the entire sales price of the car.
 

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People today think too much about wanting expensive things they cannot afford, and not enough about saving for the future. If people would buy reasonable cars, finance them for 4 years, keep them for 8 and in the second 4 years, put those payments into saving, when they get old they will be happy. Financing a car means you are buying something you cannot afford. Leasing is worse.
 

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There's nothing wrong with financing, or leasing. Both used in the appropriate scope provide the customer opportunities to own the car, or cycle cars over time. A properly formatted lease with solid residuals and buyout options offers "more car" with the opportunity to save for a buyout or trade up/over.

I get your point, but it comes of preachy and really doesn't help with the thread.
 

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There's nothing wrong with financing, or leasing. Both used in the appropriate scope provide the customer opportunities to own the car, or cycle cars over time. A properly formatted lease with solid residuals and buyout options offers "more car" with the opportunity to save for a buyout or trade up/over.

I get your point, but it comes of preachy and really doesn't help with the thread.
I get it. How about this. Buy don't lease.
 

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There's nothing wrong with financing, or leasing. Both used in the appropriate scope provide the customer opportunities to own the car, or cycle cars over time. A properly formatted lease with solid residuals and buyout options offers "more car" with the opportunity to save for a buyout or trade up/over.

I get your point, but it comes of preachy and really doesn't help with the thread.
It’s not preachy it’s based on truth and today people don’t want to hear about the facts.
Leasing was always a business tool, the average person never leased until vehicles got too expensive for them to buy. Years ago you’d put $5000 down to buy and have manageable payments for 2-3 years now you put $5000 down and your huge payments would be for 60-84 months.
People cost justify things any way they can to make it palatable to themselves.
I've been on here a long time and a few years back there was a member who had I believe a new red charger and just kept pouring money into it, he was soooo cool. Next he added a supercharger and other items to the car and THEN, I guess his credit card bill appeared with the monthly note statement in the mail and that car was online in the for sale section immediately. He was always bragging about this and that and then reality hit him like a brick. I hope he is well these days and better for it. I’m going to quote myself here. “ When you have money you make all your own decisions in life, when you have debt many of those decisions are driven by it”. In these crazy times just keep healthy, possessions are just stuff. If someone gets sick it can all get taken away or worse.
My daughter is a hospital RN and hear the horrors on a daily basis about her patients passing away.
 

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Aren't there some kids on y'all's lawns that need yelling at? Nobody is saying make irresponsible decisions, or to live outside your means, so it IS preachy.
 

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2020 Dodge Challenger Hellraisin Scat Pack
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As I talked about in the April Lease Deals post, I have been talking to different dealers about leasing 19's that they have or offering to order a 20. Numbers have not been coming back very good if at all. Most seem irritated that I want to lease Koons mostly and they gave a very low ball trade offer that has been beat by every other dealer and took 3 weeks to do it.

Here is a quote from a Dealer with 3K, 5K, 7K down on ordering a 2020. How does it look? It seems pretty far from the 583.00 that Dodge is advertising on their site. I know I upgraded though but was looking to get in around 650.00.

Is this a good price, what should I be asking off the ordering? I've never ordered 1 before. Is the Residual negotiable or is this fair (seems to be based on historic values) but still paying a lot a month to "rent" the car.

Any REAL assistance and comments would be appreciated. I have several other cars, so not wanting to have a huge payment just to have 200 more HP as this is basically the same car as my 19 Scat which I bought.
Not to put too fine a point on it but any of the lease payments you provide in the PDF are pretty "huge" just to have 200 more HP.

Ordering a car? The dealer's thinking is one has to have a car his way and the dealer is going to price the car accordingly.

The counter to this is the car's purchase (or lease) is settled and the dealer has no skin in the game. He's like the order taker at a drive through window. The car should sell for just a few percent -- at most -- over the dealer's cost. The car arrives. There is an inspection to ensure the car is as ordered and there is no damage to the car. The paperwork is signed and the dealer gets his money and the customer drives off in the new car.

My understanding of how to evaluate a lease deal is pretty thin and "thin" is being generous.

Still, I like to "work" the numbers.

With the price of the car at $73375 a residual value of $43,721 is pretty darn good. That's a 59% residual. A residual of 50% is considered the line between good (above) and bad (below).

What is the money factor? Money factor times 2400 gives you the yearly interest rate. My info is a money factor of 0.0017 is considered good. That's 4.08% IIRC.

Let's see: With $3000 down and $852.75 a month for 36 months, that's $33,699. $5000 down and $794.72/month for 36 months is $33,609. You "save" $90. Hardly a bargain for another $2K down. $7000 down and $736.69/month for 36 months is $33,520. You "save" an additional $89.

Given the current economic situation I'd be very very reluctant to enter into a multi year substantial financial obligation. With a lease if "something" happens, they can be hard/expensive to get out from under.
 

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Discussion Starter · #13 ·
Not to put too fine a point on it but any of the lease payments you provide in the PDF are pretty "huge" just to have 200 more HP.

Ordering a car? The dealer's thinking is one has to have a car his way and the dealer is going to price the car accordingly.

The counter to this is the car's purchase (or lease) is settled and the dealer has no skin in the game. He's like the order taker at a drive through window. The car should sell for just a few percent -- at most -- over the dealer's cost. The car arrives. There is an inspection to ensure the car is as ordered and there is no damage to the car. The paperwork is signed and the dealer gets his money and the customer drives off in the new car.

My understanding of how to evaluate a lease deal is pretty thin and "thin" is being generous.

Still, I like to "work" the numbers.

With the price of the car at $73375 a residual value of $43,721 is pretty darn good. That's a 59% residual. A residual of 50% is considered the line between good (above) and bad (below).

What is the money factor? Money factor times 2400 gives you the yearly interest rate. My info is a money factor of 0.0017 is considered good. That's 4.08% IIRC.

Let's see: With $3000 down and $852.75 a month for 36 months, that's $33,699. $5000 down and $794.72/month for 36 months is $33,609. You "save" $90. Hardly a bargain for another $2K down. $7000 down and $736.69/month for 36 months is $33,520. You "save" an additional $89.

Given the current economic situation I'd be very very reluctant to enter into a multi year substantial financial obligation. With a lease if "something" happens, they can be hard/expensive to get out from under.
Thanks, that breakdown is very helpful and appreciated. It also helps answer the question I asked without assuming I can't afford it - lol.
I do find it interesting that with the current offer of 0/84 months and the same money down gets Owning payments in the same range. That is why I was looking at leasing, assumed it would be cheaper.

Thanks for taking the time -
 

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2020 Scat Pack Hellraisin Shaker
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Thanks, that breakdown is very helpful and appreciated. It also helps answer the question I asked without assuming I can't afford it - lol.
Learning how to use Excel should be a life skill taught to every kid before graduating high school. There are times when buying makes the most financial sense. There are other times when leasing makes the most financial sense. Put together an Excel spreadsheet and figure it out. Don't have Excel? Use Google Sheets for free. Let the math for YOUR situation tell you the best option.

Looking at the numbers in Rockster's analysis, and catching the annual miles limit of 10k... You do realize that is $1.10 per mile to drive. Cruising the freeway at 80mph comes out to $88/hour. Advertised 21mpg highway, but I'll use 20mpg for simple math. That's four gallons of premium gas at a modest price of $3/gallon for another $12. That is a Ben Franklin per hour to drive on the freeway and we haven't even gotten to full-coverage + gap insurance yet.

My opinion... The only way a lease makes sense on a performance car like this is if the miles go on a half mile at a time - a quarter mile down the track, and a quarter mile back on the return road. Run the tires off it, have fun, bumper-to-bumper warranty when it breaks, and walk away in three years with the car mechanically all used up.

(File the corollary to that under reasons why not to buy a Hellcat lease return as a 'good deal with low miles'.)

-Eric
 

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Thanks, that breakdown is very helpful and appreciated. It also helps answer the question I asked without assuming I can't afford it - lol.
I do find it interesting that with the current offer of 0/84 months and the same money down gets Owning payments in the same range. That is why I was looking at leasing, assumed it would be cheaper.

Thanks for taking the time -
Unless something just changed, and I have not seen it, the 0% 84 Month financing does not apply to the Challenger

There is a 0% for 36 months on everything under the Hellcats. Power dollars extended to 6/1/2020

A Guy
 
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