I'm not knocking your deal. I don't know if that is good or not. I just don't like leases.

You paid 50% of the value for 39 months of rental with 0% ownership.

On the up side, you can walk away from the vehicle I guess after 39 months.

Still, thats $18,672 down the drain with no return on investment. Not that depreciating vehicles are much of an investment, it's still $18,000 of real money.

The flip side being $700+ a month for 5 years and not being able to affording driving it at all. But at the end of the 5 years you have intrinsic value that can be re-sold, etc to get some of that coin back.

It's a toss up I guess.

IndyD

 

Funny thing is Icould have gotten the RT for 700.00 more and I passed on it because it did not have the tow package.

I live in Oregon, the MOST competitive car market place in the country. They had 8 Durango's left. two of them where 6 cyl crews advertised for 26k then I saw the Hemi and had to have that one instead The planets must have aligned just right because I was the only one in there and haggled down to my price after a while. If they can lose money on one vehicle they can lose it on another and make it up on another. in the end, even the wife could not give me a hard time about the purchase.

Although, what I saved in price of car I am making up for it in fuel.

 

Got my '11 R/T for 38k, list 42.3. Started with PP pricing and added the various rebates. Then gave it all back by getting an extended warranty

 

i hear ya. leasing isn't for everybody, but it's the right thing for me.

also, the money factor was very good. in the end, if i want to purchase in 39mos it'll be $15,xxx, that's the payoff.

If i don't like it (or get bored as i'm known to do) i can walk away and lease another vehicle. i tried owning a vehicle and found myself switching almost yearly then every 6 mos. it's too tempting for me. I wish i could buy a vehicle and just drive it.. i can't, i want the next best thing, or at a minimum something different.

PS, i cashed out of my last vehicle when i purchased this one. had dealer cut me a check for the equity in my Genesis sedan, that's now in the bank and will be used to purchase a vehicle for my kid in less than a year. i now what it's like to have equity, but with technology changing so rapidly and gas, i figure not being tied down to a $30k vehicle if the sh*t hits the fan is the best move, not having to get beat up if they figure out a way to get 30mpg around town in a few years lol

 

Uhhh... that quote above is not what I said. I did not add a PS nor have I ever owned a Genesis.

With that corrected...

how can your payoff be $15,XXX? The numbers don't add up. That's $3,XXX under what it should be if you do the math. Otherwise the starting price is inflated by $3k+

 

2011 citadel every option but awd. sticker price was a tad over 47,000. paid 40122

 

2011 rwd Rt charcoal gray with tow package. sticker price was 37,000 paid 32,600 otd.

 

yeah, quote got screwed up. with that aside. i will post EXACT numbers for the transaction/payoff when wife gets home, i can't find the packet with the agreement, etc. but taking what i am paying per month $448 x 39 = $17511 with the payoff at $15k and change, comes out to $32k and change. why is that so hard to believe? i got the truck with almost every penny of holdback out, 2.5% loan (iirc) and a $2k rebate? i'll post specifics, but if you want to see what others are leasing at check the edmunds forum out by searching "durango lease questions" the money factor was excellent, the residual value, above average..

edit*
here we go;

sticker $37815
sale price $35509
rebate $2k = $33509
+ 389-reg = $33998
$1200 out of pocket = $32798
lease payments $17511
buyout at lease end = $15854
so you see there's STILL an additional $567 in BS fees the dealer got me for... what numbers were you adding up that didn't sound right? i am actually pissed off after doing that to find out they got me for $567 in nonsense lol (but i did get the oem chrome mirror covers, installed all free... friggin dealers). i did all of my homework and watched every line item and they still made out (i know they have to make a profit, just wished it was "hidden better" lol)

edit*
i feel like i am bloggin here, sorry. just checked the reg fee was actually $409, then the got me for $199 doc fee, $143 in "other state fees" $7.50 tire tax and i'll be damned they got me with that BS $189 "security guard theft deterrent (optional)" yeah right.... what ever.

 

TC, no biggie. I just did the math this way:

(($448 payment x 39 months) + $1,200 down payment) - $37,000 price = $18,328 remaining and/or $18,672 paid

$17,472 + $1,200 = $18,672
$37,000 - $18,672 = $18,328

$18,672 paid = 50.46%
$18,328 remaining = 49.54%

They worked the lease with 50% residual value after 39 months. I doubt that will resell for 50% after 39 months. Any high residual is GOOD for you if you plan to walk away. Bad if you plan to buy out the lease.

I didn't factor in the $2,000 rebate nor did I add back in the charges they screwed you on. It just looked like the $15k payoff was off by $3k, that's all.

What is your annual milage allocation and what is the per mile charge for overages?

What exactly is a "security guard theft deterrent (optional)" that they charged you $189 for? Are you paying on your invoice for their physical parking lot security? And then paying taxes on that? Are you serious? What BS for sure!

You paid taxes on all those BS charges and will pay interest on 50% of those BS charges if you buy out the lease 39 months later.

On the surface, you seemed happy about the above statement. Knowing that wasn't the case now, do you feel that way now or pissed off enough to go make them correct things right?



IndyDurango

 

nah, just disappointed that i missed the extra BS stuff. usually just let them hit the doc fee (within reason).Secondly, i paid zero tax due to the value of my trade in. to add tax it would've been another $2x bucks a month. the lease was through Allie? or BOA, i forget. but i remember that either of the two was only 10k/yr the other 12k/yr within $2-3 of one another so i chose the 12k/yr. overage charge? not a clue. we won't put $15k on this thing by the end i sure lol

how you can you be unhappy with a dealer first "splitting the holdback", then leaving almost nothing in there? (i know they made up the "nothing left in there" with the bs fee, but whatever. i KNOW i made out very well. when i buy a car i go in knowing things like current money factor, residual, holdback, advertising fees (if any), etc. there's a website that shows you everything you need to know about how much your vehicle actually costs.. it's bank of america car buying center. it's truly amazing. check it out. breakdown the msrp, invoice, holdback on every car, including specific options.