I’ve reviewed multiple postings for this car on the forums and have seen some sweet deals, some reaching close to or meeting the $300/mo payment. My goal is to do the same, as going above a $325 monthly would put me past my 10% net income budget for leasing a vehicle when combined with my auto insurance. This isn’t going to break the bank for me, I just want to ensure I’m getting the best lease I can. This will be my first time leasing.
I have a friends and family code.
This is also with $6000 lease cash.
Dealer provided me with $0 down @ $378-389/mo
Using the site calculator I came up with $383.
One time based contingency: Incentives end on December 4th (Monday)
My questions are:
Is this a good deal to jump on, or would it better to wait for end of the year incentives?
Additionally, is there anything I can improve on with this lease or better negotiate with the dealer?
Some of the other banks had much higher residuals (%61) but inflated MF. What would be best to go with? I’m also keeping in mind the option of buying this car out at the end of the lease, depending on the market in three years.
You need a bigger discount. Plus what are the fees they charging you? You can probably do better than friends and family. Usually about 1000 under invoice should be doable.
I’m a week into my challenger lease. I got 2018 SXT Plus with Blacktop Package, Plus Package with the leather and everything, Driver Convenience, Sunroof, Uconnect and destination charge.
MSRP came out to $35,070
I paid 1K down (includes first month, taxes on the rebates, and registration)
299/mo tax included.
So Yeah I think you’ve got more room there. Good luck!!
Since I made this post I’ve been looking at 2018’s and will likely go with that instead.
I believe I’ve already made up my mind to wait until the new incentives come out and to find a 2018 w/ the above options, including the blacktop package as well.
What other types of rebates are you getting other than the leash cash. There are a few sources that can help.
From my research I found it is possible to get up to $1000 worth of normal rebates. Here are a few sources: USAA, Sams Club, and Costco. I know there are more but I qualified for USAA so did not look to deeply into it.
There are also Bonus Drive that is worth $500 and stacks with everything. Many credit unions are members of this. I went and open a savings account at one to qualify.
You require a much larger discount on a 2017 model before incentives. Have you utilized TrueCar with different zip codes? How many dealers have you called in your proximity?
Sorry looking at at the rebate from USAA they are not applicable for leases. Thanks for pointing that out Fortunex.
This is what im doing for the dodge charger.
1: Affiliate Pricing. 1% below factory invoice. I know it is possible to haggle even a lower dealer discount but I dislike haggling and to me its good enough. I signed up for Tread Lightly to gain access to the Affiliate program. If you go the Tread Lightly route it takes 30 days after becoming a member to qualify.
2: Military Rebates: $500. I qualify for it and it stacks with the Affiliate Program. Talking to the dealership they said all I would need to bring in is my DD214. Veterans have 12 months after discharge to qualify for it but the dealership im getting my car said as long as they have a DD214 the date didn’t matter. So worth trying even if you do not qualify for it. Just do not say anything and bring your DD214.
3: TDM: $500. I ordered a brocher from all of the Chrysler brands to be mailed to me. Sometimes they add a TDM and I got lucky and received one.
Those two rebates was the only two that could stack with the Affiliate pricing.
Even if you can not get USAA rebate because it is a lease you should still look to find other rebates that work.
Also check other dealers to see who they lease through. This is what im doing tomorrow. For the dodge charger the 2018 Residual Value is 10% lower that the 2017 Residual at the same time last year. The 2017 had a 65% residual value in November 2016 and the 2018 had a 55% residual value in November 2017. I am hoping Tuesday brings them back up in line or other dealers go through other banks who has higher ones.
Thanks for the tip. I have since done a lot more searching on TrueCar and also looked at ten of the closest dealers to me through Dodge’s official website. Already came across some dealers touting up to $4,000 off MSRP. Will be emailing a few local dealers who I’ve had good rapport with and see what they can do for me.
TDM is a great tip, I went on Dodge’s website and downloaded all of the brochures and signed up for a mailer as well. Hopefully I can get that extra $500 off! I looked into Affiliate pricing, however my employeer is not a member so I can’t get that discount unless I too sign up for Tread Lightly and then wait a month. Then again, I could save a quick $500-1000 and possibly get a better deal at the start of the year, so I’m considering waiting for the best possible deal. Great note about the residuals too, excited to see what tomorrow looks like with new incentives coming out.
This comment is underrated and shouldn’t be overlooked for anyone else looking for a Challenger. I shopped around and saw some base SXT’s that were up to $4000 off MSRP.
Worked out a new deal at another location for a base SXT 2017 model w/ these options:
Super Track Pak, Blacktop Package, Driver Convenience Group, Navigation Uconnect 8.4" Display, Sound Group I, Cold Weather Group.
I don’t have any other rebates to use other than Friends and Family, would still like to get it down to $310 if possible, but I don’t think I have much more negotiation room. Put down a deposit to lock in incentives that ended yesterday, will be picking up auto insurance and then going back in to sign later this week as it doesn’t look like there are any incentives for this month released yet.
Best I could do. Knocked it down to $314/mo after going back in a few days later. Might have been unclear about $1,000 down, I meant I’m paying $1,000 up front for acquisition fees, taxes, first month and then ~100 down.
I realized how much more negotiation room there was after I started looking at other dealers (and even the same dealers) website after driving home. Almost overnight they all started advertising up to $5,000 dealer discount, before any rebates. After some quick math, I could have saved up to $80/mo. Oh well, live and learn. I got impatient and pulled the trigger sooner than I should have. Waiting for new incentives to come out was risky, but jumping before dealers updated their sites with new discount info is what got me.
