Has anyone found any dealers leasing?

Discussion in 'Dodge Challenger SRT Hellcat' started by HellcatDreamer, Jul 9, 2015.

  1. HellcatDreamer

    HellcatDreamer Rookie

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    I am sure no dealership right now is even crazy enough to start doing this right now but I only wondered.
     
  2. hellcat16

    hellcat16 Silver Member

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    My dealer told me that I can and I probably will. Just depends on which way is the best deal for me when it is delivered.
     
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  3. soundman5000

    soundman5000 Silver Member

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    I did not actually ask my dealer to do a lease but I was under the impression I could do one if I wanted. However, I just noticed on the Dodge site using the build and price option for the Hellcat the lease payment estimator is not active and it says contact your local dealer. This Lease payment option was active a few weeks ago and would calculate a lease estimated payment.
     
    Last edited: Jul 9, 2015
  4. B5 Blue

    B5 Blue Platinum Member

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    Lease was an option at my dealer
     
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  5. AJay

    AJay Rookie

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    Dealers really shouldn't care, as the lease company picks up the bill for the car. Now with ADM's that maybe an issue with the lease company or just require you to put down a larger down payment and a higher lease payment.
     
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  6. HellcatDreamer

    HellcatDreamer Rookie

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    A few of the dealers that I have been in contact with have said that these cars aren't for lease. I am guessing that they just want to hold on to the car for the person that will come along and pay a huge ADM fee.
     
  7. lisn2me

    lisn2me Rookie

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    I leased mine for business reasons without a problem.
     
  8. 70Cuda

    70Cuda Yep, its got a HEMI

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    a lease is a form of financing. if it works they will do it. (i.e. large downstroke and expensive buyout with very limited miles allowed)
     
  9. Top Cat

    Top Cat Gold Member Hellcat Car Club Gold Supporting Member Fastest Cat/Record Holder HCC Charter Member

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    Dodge is not leasing the hellcats but you may want to check into a vehicle leasing company which is all they do.
    TC
     
  10. One Ton Racer

    One Ton Racer Silver Member

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    My dealer contacted a leasing company. No problem to lease a Hellcat..
    Interest rates were fairly high though so I bought.
     
  11. Top Cat

    Top Cat Gold Member Hellcat Car Club Gold Supporting Member Fastest Cat/Record Holder HCC Charter Member

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    I have never found leasing an advantage, we purchase everything....
    TC
     
  12. soundman5000

    soundman5000 Silver Member

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    I looked into leasing as I was considering any and all options when purchasing my Hellcat.

    I found the lease residual on a Hellcat and all Challengers to be extremely high. So high I did not see any reason to consider leasing a Hellcat nor did my dealer as the numbers just did not work for me as I was looking to have a good option at lease end to be able to buy the car just in case this thing become collectable or something. That buy out number looked crazy to me so I gave up on leasing.


    FYI, my dealer offed some very good rates and terms ( outside of Chrysler finance) doing conventional financing. The rates he offered was very competitive and even on a long term option (75 months) I remember the rate was 2.09%. Anything over 75 months the rates double and gets crazy IMO. I did find much better rates via my dealer than my local bank or credit union.


    I also found an online exotic car financing company that would do 10 years but the rate was almost 5% with min 15% down and when I ran an amortization schedule I had to remind myself I was buying a car not a house as 10 years is crazy and no way I would do that however, if someone will pay $15K to $20K over MSRP (not me) what's a little interest right?
     
  13. Hubbs

    Hubbs Silver Member

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    I'm not following this too well. I get what you're saying, but it makes no sense. Let me clarify...

    The Hellcats have a very high residual, true. What this does is reduce your payment since the car depreciates slower than average. At the end of the lease, you have the option to buy the car for the amount left from what you "paid" for the car (sticker price in my case). Of course this number will be high. That's why the first 3-4 years of payments were low. In the end all you're paying for in total is the selling price of the car.

    Going with a lease gives you an "out" when the term is up. You can walk away or buy the car. This gives you flexibilty since the future is unknown. The cost of this flexibility is the higher interest rate that leases have. To me, it was well worth the extra ~$3 a month. I can also trade out of it easily if, say, they come out with a 808 hp version next year. :rolleyes: Oh, and I get free loaner cars covered by the leasing company if I ever have to leave it in the shop.

    I used my "guy" at D&M. Dodge may not be leasing , but the leasing companies certainly are.
     
  14. soundman5000

    soundman5000 Silver Member

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    Im not an expert so my terminology may be off a bit but let me explain in detail my thought process when deciding on how to buy a hellcat.

    Let me say a $60,000 + car is truly out of my price range. I know, I know, but I just had to have one but was looking for the most affordable way to buy. What I wanted was a $60K car for $300 a month...Did not happen.

    I was thinking long term on this car. However like you I wanted some options in 2-4 years if something better comes out. I know Honda ( the only car I can find ) offers a leadership financing program. In a nut shell you pay nothing down. low payments like a lease then at 3 years you hand the car back, trade or keep the car at the same exact payment and just keep paying that amount until its paid off. Unlike a lease after the 3 years you are guaranteed you can continue, with a lease you must re-apply, run credit, job etc. That Honda program acts like a lease but is not considered a lease to your insurance etc so I have found a great way to buy a Honda and the % rate is very low but is only for well qualified buyers. Im on my 3rd Honda with this program and it works great for me but we put low miles on most of our cars.

    Dodge has nothing like that Honda financing. When I checked on the lease the lease payment ( for me with downpayment and a trade) was almost as expensive as a regular loan payment on the Hellcat when using actual bank % rates not what is on the Dodge site.
    I wanted an option like on the Honda as IF this car was going up or holding value in a few years I could keep it or like you say if a 800 hp comes out I may want to trade. The thing is my hellcat will never have many miles so I cant see paying $600+ a month just to hand the car back in in 2-3 years with so little miles. As I understand doing a lease one can find it hard to get out early if needed. I also see on the net that it may not be wise to put a large downpayment on a lease car or in my case a good trade as it has something to do with insurance and if the car is totaled. I know it is speculation or a gamble but Im thinking I may keep this car for my children but time will tell and lots of debate about long term future value of this car.

    The numbers I was given of what the payoff would be at lease end was crazy high if I wanted the car. When I compared the numbers using low interest rates ( example 2.09% x 75 months ) the payment was only a few hundred more than a lease and at the end of term it will be paid off.


    I have leased in the past and for business reasons it works but what spooked me was paying $600 + a few years and still owing almost the price of the car if I wanted to buy it out at lease end. The problem for me was when compared to the low interest loans it did not save me enough per month to justify such a high buy out a lease end.

    I had a very limited edition Volvo years ago a yellow T5R, 1 of 300 made, I leased it but kinda wanted to keep it at lease end. The buyout was so high I could not justify re-financing and keeping the car at that time. Looking back I wish I still had that car as Volvo has one just like mine in its corporate headquarters is was so rare. I just don't want to find myself in the same situation with the Hellcat at lease end as Im leaning more towards keeping it long term.

    Everyone situation is different and lease is the only way to go for some folks but just check out the buyout $$$ amount in your contract and make sure that number works if you may want to keep the car as that number is one of those hidden in the contact and normally not disclosed until you are being handed the keys. I called and talked with my dealer FI guy long before my car came in so I knew what all of my options were. My $.002

    I just hope for all of us these things hold value!
     
  15. Hubbs

    Hubbs Silver Member

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    I was thinking long term on this car. However like you I wanted some options in 2-4 years if something better comes out. I know Honda ( the only car I can find ) offers a leadership financing program. In a nut shell you pay nothing down. low payments like a lease then at 3 years you hand the car back, trade or keep the car at the same exact payment and just keep paying that amount until its paid off.
    Leasing companies have leases just like this. I only put down the TT&L because it just seems wrong to be financing the taxes. Otherwise nothing is required down.

    Unlike a lease after the 3 years you are guaranteed you can continue, with a lease you must re-apply, run credit, job etc. Not really a biggie to me.

    That Honda program acts like a lease but is not considered a lease to your insurance etc so I have found a great way to buy a Honda and the % rate is very low but is only for well qualified buyers.
    2 things: Insurance doen't care how you financed the car. Makes no difference. 2) There is no great way to buy a Honda. :confused:

    Im on my 3rd Honda with this program and it works great for me but we put low miles on most of our cars.
    It saddens me that you like Hondas. It's depressing.:p

    I cant see paying $600+ a month just to hand the car back in in 2-3 years with so little miles. As I understand doing a lease one can find it hard to get out early if needed.
    It's easy to get out of a lease early. If you buy or lease from them again, they'll always waive the fees and make it easy. Even easier than having to sell the old car and you don't have to worry about being upside down if trading. $600/mo is not much for $0 down on a $65K car. The payoff would be 109 months+.

    I also see on the net that it may not be wise to put a large downpayment on a lease car or in my case a good trade as it has something to do with insurance and if the car is totaled.
    Agree. Not smart to put $ down on a lease.

    The numbers I was given of what the payoff would be at lease end was crazy high if I wanted the car. When I compared the numbers using low interest rates ( example 2.09% x 75 months ) the payment was only a few hundred more than a lease and at the end of term it will be paid off.
    Of course. That's because you didn't pay for much of the car. It's just math. You owe what you haven't paid. The point is, pay a smaller amount now in case you want something else in a few years. Why pay more now and make the same decision to change? Push the payments down the road. Future $ is always worth more anyway. BTW, a few hundred a month is a HUGE difference. Multiply that amount by the term.

    I have leased in the past and for business reasons it works but what spooked me was paying $600 + a few years and still owing almost the price of the car if I wanted to buy it out at lease end. Sounds like they were trying to rip you off. You should have paid the car down quite a bit.
     

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