[MoparCzar]

I have a 2022 Hellcat on order from Dan Cummins in KY. Planned on just a straight purchase but with
the changes recently in interest rates, looks like the only thing Dodge is offering is 0% for 36 months. While
still better than nothing, makes for a heck of a payment. Does anyone know of any banks that have a
good residual and money factor on the new Hellcats? Just thinking this might be an option if anyone has
a good deal. Thanks.

 

[Thebestgunrack]

I'd be interested in hearing about this too. Since rates are going up and will continue to do so for a while, would a lease be a better option and then hope and assume rates would be lower in a few years(hopefully after Brandon is out of the White House )

 

[Srt 2021]

Keep in mind I’m in finance but Chrysler capital has the best offer out there… way better than the credit union and any financial institutions…Dodge is offering 2.9% for 72 months… that’s a hell of deal, on the side note I don’t believe in leasing ( that option is for wealthy folks or peeps who have poor credit).
Just my 2 cents…

 

[Reaperhwk]

Keep in mind I’m in finance but Chrysler capital has the best offer out there… way better than the credit union and any financial institutions…Dodge is offering 2.9% for 72 months… that’s a hell of deal, on the side note I don’t believe in leasing ( that option is for wealthy folks or peeps who have poor credit).
Just my 2 cents…

Yep that’s the rate and term I have on my JB. That was 2 months ago I’m not sure of they are offering the same now?

 

[AJ's_BadKitty]

Keep in mind I’m in finance but Chrysler capital has the best offer out there… way better than the credit union and any financial institutions…Dodge is offering 2.9% for 72 months… that’s a hell of deal, on the side note I don’t believe in leasing ( that option is for wealthy folks or peeps who have poor credit).
Just my 2 cents…

I'm playing the field right now as well...my credit union offering 2.9 for 72 months.... problem is...if I accept that...there is no re refinancing with same credit union if better rate comes along. I gta play it smart... because I know my credit union will offer a 1.8 at some point...they usually do two to three times a year for limited time.

 

[furious70]

I assume projected residual values are sky high at this point? If a person was happy to give the car back at the end of the lease is a lease more affordable than usual?

 

[Srt 2021]

Yep that’s the rate and term I have on my JB. That was 2 months ago I’m not sure of they are offering the same now?

They will do it if you have a great credit history and a good financial record.

 

[Srt 2021]

I'm playing the field right now as well...my credit union offering 2.9 for 72 months.... problem is...if I accept that...there is no re refinancing with same credit union if better rate comes along. I gta play it smart... because I know my credit union will offer a 1.8 at some point...they usually do two to three times a year for limited time.

If I was you… I would prefer Chrysler capital for the 2.9% and as you stated…refinancing with your credit union when the time comes ( but this will not happen any time soon)

 

[Srt 2021]

I assume projected residual values are sky high at this point? If a person was happy to give the car back at the end of the lease is a lease more affordable than usual?

Leasing option is designed for wealthy folks and companies… if you take a look at it in a different perspective. ordinary people who lease a car, technically can’t afford it.

 

[mrl859]

Leasing option is designed for wealthy folks and companies… if you take a look at it in a different perspective. ordinary people who lease a car, technically can’t afford it.

Another take on leasing. You only pay tax on the amount you pay (down payment, if any, and lease payments), at least in the state of Claifornia. If you're the kind of person that gets a new car every three years, it makes great sense to lease. Also, since you're only paying for the depreciation, the payments are much lower and you don't pay tax on the full value. True, you have nothing to show for it when the lease matures, but who cares if you're going to get something else anyhow. Additionally, a lease does have a pay off before the term expires. If the car value skyrockets and you have positive equity versus payoff, you can trade it in/sell it to a dealer and make the profit. I did just that with my 2017 Hellcat in 2020. Lastly, it gives you a few years to decide if you want to keep it. You can payoff/finance the residual or just walk away. For the reasons stated above, I've been leasing my personal new cars for years

 

[snobrdrdan]

I assume projected residual values are sky high at this point? If a person was happy to give the car back at the end of the lease is a lease more affordable than usual?

Nope...it's the opposite.
The leases on the Hellcat used to have a "okay" residual and then a low MF (interest rate)....making them okay.
They were dirt cheap at one point too...maybe like 2017 or 2018? (~$500/month?)

Now....the residual isn't great AND they have a high MF too, making for a poor lease. Even though used values are super high right now, the banks aren't gambling that they're gonna stay like that and predicting low residual values still (so they're not taking a bath if the market corrects, and they make money later on IF the markets stays the same).

And in this market right now, pretty much all leases have high MF's (versus lower ones before the shortages and all that)

 

[Pzk41]

i leased my hellcat in 19 with almost no money down, thru chrysler cap. wanted to get into a hellcat but couldn`t afford the higher payment. plan was to lease for the three years then purchase at the lease end. an it worked out perfect, it was all done thru my dealer. but when i purchased it they put me thru a private bank as chrysler wanted 7.5 on a used car.the hellcat turned out to be a great investment as its worth what the sticker was when i bought it an im into the car for just over forty thousand

 

[S8ER01Z]

, on the side note I don’t believe in leasing ( that option is for wealthy folks or peeps who have poor credit).
Just my 2 cents…

The last lease special I had was $650 a month with no money down on a Hellcat Challenger. 🤷

 

[Bobo]

Another take on leasing. You only pay tax on the amount you pay (down payment, if any, and lease payments), at least in the state of Claifornia. If you're the kind of person that gets a new car every three years, it makes great sense to lease. Also, since you're only paying for the depreciation, the payments are much lower and you don't pay tax on the full value. True, you have nothing to show for it when the lease matures, but who cares if you're going to get something else anyhow. Additionally, a lease does have a pay off before the term expires. If the car value skyrockets and you have positive equity versus payoff, you can trade it in/sell it to a dealer and make the profit. I did just that with my 2017 Hellcat in 2020. Lastly, it gives you a few years to decide if you want to keep it. You can payoff/finance the residual or just walk away. For the reasons stated above, I've been leasing my personal new cars for years

THIS^^^
I lease for my wife as she changes out her car every couple years anyway and we always have a new car that I do not have to deal with in any way. Now MY vehicles? I buy all of mine because I intend to keep what I pick out forever or at least until they just don't function any longer or are not worth putting more money into. All of mine are paid for (well except the SS that I just picked up) I did a 5 year loan on that one but will probably pay it off in less than 3 like I do with most of my vehicles.

Leasing just makes sense to me for the wife's vehicles. Payments are cheap and she won't keep one anyways!

 

[zaimer]

Keep in mind I’m in finance but Chrysler capital has the best offer out there… way better than the credit union and any financial institutions…Dodge is offering 2.9% for 72 months… that’s a hell of deal, on the side note I don’t believe in leasing ( that option is for wealthy folks or peeps who have poor credit).
Just my 2 cents…

Whether you're in finance or not, there is quite a bit of ignorance in this paragraph. A guy may be on the football team, but that doesn't mean that he can throw the damn ball.

First of all, leasing is absolutely not for "peeps who have poor credit". It is actually the exact opposite; you shouldn't be leasing unless you DO have top tier, excellent, credit. With specific vehicles, sure, we could make the statement that leasing is for the wealthy. We cannot make that blanket statement for all leasing, however, as that is simply not the case.

I have my Hellcat (ordered) locked in at a money factor of .00006 (this is essentially the rent charge on a lease for those who do not know). That money factor equates to 0.14%. Yes, nearly 1/10 of 1%; that is nearly interest free. With most finance programs, you won't know your exact rate until the deal is being finalized (at the time of delivery). I've known my rate for months now, and the car is yet to even be built. I could add several additional paragraphs to this discussion, but I think my points are clear.

 

[zaimer]

Another take on leasing. You only pay tax on the amount you pay (down payment, if any, and lease payments), at least in the state of Claifornia. If you're the kind of person that gets a new car every three years, it makes great sense to lease. Also, since you're only paying for the depreciation, the payments are much lower and you don't pay tax on the full value. True, you have nothing to show for it when the lease matures, but who cares if you're going to get something else anyhow. Additionally, a lease does have a pay off before the term expires. If the car value skyrockets and you have positive equity versus payoff, you can trade it in/sell it to a dealer and make the profit. I did just that with my 2017 Hellcat in 2020. Lastly, it gives you a few years to decide if you want to keep it. You can payoff/finance the residual or just walk away. For the reasons stated above, I've been leasing my personal new cars for years

Much like credit cards, many simply do not understand the complexity around leasing. Those who know how to play the game well, will absolutely come out ahead versus doing a traditional purchase.

OTOH, the lease companies need folks who are somewhat naïve, as they are the real cash cows. If it weren't for them, the rest of us wouldn't realize the advantages that we do.

 

[Tannehill]

Leasing option is designed for wealthy folks and companies… if you take a look at it in a different perspective. ordinary people who lease a car, technically can’t afford it.

You have an extremely narrow view of leasing for a "finance person". It's absolutely not as cut and dry as you think it is.

Just as a tiny tidbit. Look at high price BMWs like an M4 CS. Absolutely zero point in buying one over a lease unless you are racing it or truly, honestly, plan to keep it for 7+ years

 

[mrl859]

Nope...it's the opposite.
The leases on the Hellcat used to have a "okay" residual and then a low MF (interest rate)....making them okay.
They were dirt cheap at one point too...maybe like 2017 or 2018? (~$500/month?)

Now....the residual isn't great AND they have a high MF too, making for a poor lease. Even though used values are super high right now, the banks aren't gambling that they're gonna stay like that and predicting low residual values still (so they're not taking a bath if the market corrects, and they make money later on IF the markets stays the same).

And in this market right now, pretty much all leases have high MF's (versus lower ones before the shortages and all that)

I leased my 2017 and 2020. The money factors and residuals were good and this made the payment hundreds of dollars less per month. I purchased the 2021 in August of 2021 because the 0% financing made better financial sense than a lease. I made a large down payment to bring the payments where I wanted them. Without any down payment and with a money factor that is not 0%, the lease payments would have been astronomical.

Note to all: NEVER put money down (or as little as they'll let you) on a lease! Leases have gap insurance that pays off the remainder of the car lease in a total loss. For example, if you put 5K down, and the car is stolen/never recovered on the 2nd day, the gap insurance pays off the difference (not actual cash value) and you do not get your 5K back.

 

[Srt 2021]

The last lease special I had was $650 a month with no money down on a Hellcat Challenger. 🤷

that was in the past...

Whether you're in finance or not, there is quite a bit of ignorance in this paragraph. A guy may be on the football team, but that doesn't mean that he can throw the damn ball.

First of all, leasing is absolutely not for "peeps who have poor credit". It is actually the exact opposite; you shouldn't be leasing unless you DO have top tier, excellent, credit. With specific vehicles, sure, we could make the statement that leasing is for the wealthy. We cannot make that blanket statement for all leasing, however, as that is simply not the case.

I have my Hellcat (ordered) locked in at a money factor of .00006 (this is essentially the rent charge on a lease for those who do not know). That money factor equates to 0.14%. Yes, nearly 1/10 of 1%; that is nearly interest free. With most finance programs, you won't know your exact rate until the deal is being finalized (at the time of delivery). I've known my rate for months now, and the car is yet to even be built. I could add several additional paragraphs to this discussion, but I think my points are clear.

Please remove your feelings out of the equation. Can you do that? lets be objective here!
are you familiar with the 80/20 rule?

 

[mrl859]

that was in the past...

Please remove your feelings out of the equation. Can you do that? lets be objective here!
are you familiar with the 80/20 rule?

What about what I said isn't objective? Is any part of it inaccurate? Remove my feelings from the equation?????