Did you lease your hellcat?

Discussion in 'SRT Hellcat General Discussions' started by Lllvjr, Jun 8, 2016.

  1. Lllvjr

    Lllvjr Rookie

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    Title says it all.... What's your buy out at the end? How many years did you lease?
     
  2. MABBRYFL30

    MABBRYFL30 NYS President Hellcat Car Club Gold Supporting Member

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    I have seen so little or no posts at all for leasing. the residual at the end of the term has to a lot higher than a normal lease
     
  3. 1BDHCAT

    1BDHCAT Silver Member

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    I bought mine. Nice car tho!
     
  4. Driller

    Driller Senior Hellcat Member

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    The residual amount is whatever you and the dealer negotiate. Just like negotiating the price in a sale, except your setting the back end price instead of the up front costs. Most times if you do a lease buy out at lease end, you would ending up paying a lot more total for the car. Just add up your total lease payments then add the buy out amount and you will see how amount. Remember to add any sales taxes to the buy out amount.
     
  5. im3cpo

    im3cpo Senior Hellcat Member

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    I bought mine outright..

    And hopefully I dont derail teh thread but:
    The other thing to keep in mind on a lease is since the residual is known ahead of time, you *may* end up depreciating the car at a greater/faster rate than the residual tables. If this happens, you can actually save money on a lease vs. buying though the odds are low as the leasing company charges you for the actual lease itself in addition to the payments and tax on the lease.
     
  6. BIG DAWG

    BIG DAWG Hellcat, 1st Florida Cavalry Hellcat Car Club Gold Supporting Member HCC National Exec. Director HCC Charter Member

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  7. cleankat

    cleankat SRT Hellcat Supporter Gold Supporting Member

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    The residual is not a dealer negotiated number, it is defined by the leasing company and can only be decreased by the dealership, but not increased (higher residual lower payment). Dealer has no incentive to deviate on the residual. Money factors are typically marked up by dealers and this can be negotiated slighty.

    Lease programs are out there for the HC, however most dealers won't even entertain quoting you on a lease as they want to charge addendum fees and Chrysler discourages this. As these start to sell for MSRP and below i think you'll see more leasing. I would have preferred to lease mine. A car like this I would rather have the resale risk on the lender. Leasing gets a bad wrap by the uninformed but it can actually work out well in the buyers favor for certain cars.
     
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  8. Driller

    Driller Senior Hellcat Member

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    Odd that you say the residual is not able to be negotiated. My brother-in-law negotiated the buy out amount on 5 Ram 1500's pickup's for his business. Took just as much work as negotiating the sale price, but it was done. Yes, the leasing company was involved, but it got worked out.
     
  9. cleankat

    cleankat SRT Hellcat Supporter Gold Supporting Member

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    They can raise it, but if it's higher than what the leasing company specifies the dealer will be responsible for the difference to the leasing company. This is not a common practice. I ran leasing programs for a huge captive lender in my past life.
     
  10. Mo-par!

    Mo-par! Bone Stock Hellcat Car Club

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    Nope and hope to payoff in next 6-18 months...and own it for life.
     
  11. Steppenwolf

    Steppenwolf VIP Hellcat Member

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    Agree ....

    And, frankly, at this price-point there's zero advantage in leasing the unit unless you can write off the monthly/annual tariff as a deduction because your "business" is the (primary) owner on paper. I know, for example, about 8 people who do exactly that with their high-end Lexuses, BMWs, Audies, and one Mercedes. Since they can write it off as a business expense, they size of the payment doesn't matter.

    Maybe it depends on your history of car ownership, but to me individual (non-business) leasing is like asking yourself to buy the car twice, while being stuck with dealer-imposed mileage restrictions and penalties, especially if you end up liking the car enough to want to keep it when the lease ends.

    Plus, I tend to hang on to my vehicles for 8-9 years average. They're all well-maintenanced, under-mileage for age, and clean enough to eat off of.

    I do better on the next car by trading in the old one or selling it out right.
     
  12. Driller

    Driller Senior Hellcat Member

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    True, a dealer can and will accept "recourse" on a lease depending on how strong your income and credit is along with how many cars you have purchased from them in the past. I do not lease as I find that I can purchase most cars for at least the "CDI" price on the dealer invoice. There is the "invoice" price, the "EP" (employee price) and "CDI" price (certain designated individuals). if a dealer shows you a factory invoice, you will see the other prices along the same line at bottom.
     
  13. Lllvjr

    Lllvjr Rookie

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    After a four year lease with low miles the buy out is $35k... I would think a four year old hellcat with low miles will still be worth 45-50k in four years
     
  14. NX91Notch

    NX91Notch Gold Member

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    How low of miles are you talking about?

    Put it this way. I have been thinking of trading in my Hellcat for a Viper. Value put on my 2015 Hellcat with 7k miles has been 55k.

    No way a 4 year old Hellcat is going to still be worth 55k unless you have very very low miles.
     
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  15. Burren

    Burren VIP Hellcat Member

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    It will be in a private sale, not trade-in.
     
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