Rate my Deal - 2018 Dodge Charger Daytona 392

Most states allow you 3 days.

not sure about that, I’ll attach a calculator of a rough approximation of the numbers you will need to achieve ( that discount may or may not be achievable), which wont be easy but is doable. Also keep in mind with the $5700 equity you will have left over about $300 which will reduce ur monthly by 10 so it will put you at $535.With a 65% residual and a money factor of .00013 its hard to pass up a hellcat( also remember you must subtract the $1700 gas guzzler tax from the msrp of any car because it cant be residualized.) good luck, let me know if have any questions on anything.

To the OP: what dealership in GA did you lease from? I am looking for the same car now.

Hoprefully you are asking that question so as to AVOID that dealership because that was NOT a good deal…

Very true. I’m trying to locate a dealer now that is willing to deal. Just finished negotiations today on sales price and then had to argue with the dealer on how we are taxed on a lease in GA, and once he realized they were wrong “they don’t do leases.”. Hmmm frustrating.

Fatal flaw of white Chargers: Everyone assumes you are a cop. I rented one a while back and literally everyone would brake the instant they saw the car in the rearview. Not sure what your local PD’s paint scheme is but I’m pretty sure you’ll run into this issue fairly often.

Anyhow, like others have said, this is a poor deal but you live and you learn,right? You got a badass ride and you can afford it (hopefully?) so enjoy the hell out of it and swing for the fences next time.

I will be coming up on my 2yr point in August. I have around $8k miles TOTAL on my car. I have done a muffler delete but made sure it was a clean weld job and kept the mufflers so I could put them back if needed. Sounds amazing btw! I also changed my Daytona Decals to carbon fiber striping. Not sure if it will affect anything but I love how it looks and get compliments constantly.

We moved from GA to FL last summer and I’ve decided I need to get on the salt water with something pulling at my line as often as possible. I’ve loved my 392 - it is basically mint mint condition with zero flaws and hasn’t been driven too terribly much. Stays detailed and garages always. It’s been in the rain probably less than 10 times.

I want to start thinking about my next lease and will likely let the lease special / price dictate what I get as move from car guy to boat guy. It’s been great having muscle cars but I’m ready to turn the page and t something basic maybe $200-$250/mo.

Couple questions:

  • If I were going to lease another vehicle how far in advance from the end of my current lease could I do that? Will I 100% have to wait til the end of my current lease or will it depend on the dealership?

  • Will the current condition and miles (excellent and low) play any factor in my ability to move into my next lease prior to my current lease ending?

  • We moved and downsized and have a lot of boxes in our new home attic - I cannot located my lease paperwork but I’m sure it’s packed away somewhere. Is it possible to get a copy and if so do I get that from the lease company (Chrysler Capital) or the dealership?

And I will PROMISE to check here before signing any paperwork on a new deal :slight_smile: I realize obv I could have done better in this deal and I appreciate all the feedback! I have thoroughly enjoyed the car and payments were no issue whatsoever.

Thanks in advance for any further guidance :slight_smile:

IT

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For the payment you want, grab a Taco or Tundra so you have something to pull the boat with.

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I did see the tundra special and that would be perfect but unfortunately I’m still a year away from the end of my lease so I probably have to wait… Although to be honest I don’t know if I need towing capability I’m probably just gonna keep it in a dry stack near the water… We’re not allowed to keep boats here in our neighborhood so I would have to pay to keep it at a boat yard and I think I’d prefer to keep it indoors. That tundra is a great deal it seems.

Are you asking what you should get in August 2021?

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Quick question regarding early lease…I have 13 payments of $423 or roughly $5500 ($5499 to be exact) left on the lease through Chrysler Capital. CC by the way, does NOT allow lease swaps or lease transfers from what I read online.

I was reading on one of the Lease hacker articles that you could always check with some of the buyback companies like Carmax etc. to see if the amount they offer would be enough to cover what I assume is the residual and the number of payments?

So my residual is $26k and some change and my amount owed is $5500 so approx $31,500?

Could I sell the car outright and as long as I get $31,500 ish - I could make that move? If I sell the vehicle for more than the residual plus the remaining payments do I get to pocket the difference?

A quick google search For like cars for sale on 2018 Dodge Charger Daytona 392 with less than 30k miles I am seeing from $32k-42k and I highly doubt many if any are in this car’s condition. Mint, 8400 miles and slightly customized with sound, carbon graphics etc.

Just curious what my options are so that I can make sure I understand everything at this with my first lease… Thanks in advance

Call CC and ask for the Balance-but yes, usually it’s the residual plus any payments owed for the lease term…ask them for a dealer buyout quote if you sell/get offer from Carmax or any other car dealer.
Check the car’s value on KBB and see what the numbers are, don’t rely on what “asking price” online is-specially in this time when not many are buying cars, customization will not fetch you extra $$$ FYI, also get quotes from Vroom, Carvana etc, it doesn’t cost you anything-just a few minutes online
P.S. 8400 miles? Drive that DAYTONA as there’s no point in paying for them miles without using them :slight_smile:

Thanks for the info! I work from home and just don’t drive a lot to be honest…plus I had two really nice mustangs before this that were basically grocery getters and for car shows / cars & coffee etc. I just keep the car immaculate and don’t even like to have it out in the rain lol - I guess those habits transferred over to this car which is my first lease :slight_smile:

Life priorities are are going in a different direction so I would like to get out of this one and maybe get into something less expensive like the great Tundra deals I see floating around.

I will check with Carmax and the others but I’ve found they are generally super lowball offers to be honest. I would think that I could get a much better sale selling to a private buyer if I’m patient correct?

And to make sure I understand this correctly if CC says my payoff today is $31,500 and I sell to my neighbor for $34,500 I pocket $3k correct?

Yes, as long as CC gets their balance owed you can keep the difference-they may though have a different 3rd party buyout price if you don’t buy the car directly

Start with KBB value and see what the value is first…hope you get out of it quick, and yes those deals on Tacos and Tundras are great…

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Ok so I did a little research and did speak with my leasing company Chrysler Cap. They gave me the payoff and also said I could trade it, buy it or sell it. Would take around two weeks to get title back. I’m not exactly sure how title transfer would work - I assume the leasing company would send me the title and I’d simply sign it over to the buyer.

KBB said trade in value is around $33k+ and private sale value around $38k. I did a nationwide search and there are not many with my miles (8600) and even fewer in my car’s condition. They said any amount over the payoff I would keep. It make take a little bit to sell but I’m not in a hurry and can wait if need be. I think I may go that route…

You need to keep in mind tax implications, if you are purchasing it then reselling it to someone, you’ll pay tax.

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Keep in mind the tax implications of buying it out and then selling it. You’ll be hit with sales tax on the whole purchase price, eating into that equity, unless you sell it to a dealer

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Ha! Typing it at the same time!!!

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I asked for a breakdown and they gave me this:

Current purchase price: $31,035.23
Purchase Option Fee: $350.00
Unpaid monthly payments: $452.72
Sales Tax: &1,912.11

Total due (good until 06/09/: $33,750.06

(Residual is $26,716).

I’m pretty sure I can sell it above $35k…if not I’ll just keep it. The problem with trying to sell it to a dealer is I’ll get lowballed like crazy. KBB offered to buy it for $31k then a couple dealerships called me within 5 min and said the same thing…

Did you check carmax/carvana/vroom?

Keep in mind a dealer does not pay the tax, so buyout for them is under $32k. If you could get $35k private party, that’s $1250 in your pocket. But a buy bid of $33k from any of those lots is about the same, but with far far less hassle to you.