Lease Shocker!
#1
Lease Shocker!
Last week I received a call from my Chrysler dealer asking if I wanted to get out of the lease of my Dodge Ram with a lease rate of 0.9%. I'm paying $250 a month.
I like the truck, the only problem is that I haven't been using it as a truck and I work Downtown so parking can sometimes be a challenge. So I figured, sedan, here I come.
I went to the dealer and they were really pushing financing on me at 0% on a Charger R/T. The car is ok, it's just not a car I want to own, it's a car I would want to lease. BTW, because of the nature of my business, it's to my benefit to lease over own.
Anyways, when I told the dealer I would rather lease than finance, he looked at me and told me that Chrysler has a current lease rate of 12%!!!!!
That's crazy. It tells me that they have lost a lot of money in the leaseing business.
I just thought I'd share this story.
The dealer claims that Ford and GM are doing the same thing.
That's my story.
I like the truck, the only problem is that I haven't been using it as a truck and I work Downtown so parking can sometimes be a challenge. So I figured, sedan, here I come.
I went to the dealer and they were really pushing financing on me at 0% on a Charger R/T. The car is ok, it's just not a car I want to own, it's a car I would want to lease. BTW, because of the nature of my business, it's to my benefit to lease over own.
Anyways, when I told the dealer I would rather lease than finance, he looked at me and told me that Chrysler has a current lease rate of 12%!!!!!
That's crazy. It tells me that they have lost a lot of money in the leaseing business.
I just thought I'd share this story.
The dealer claims that Ford and GM are doing the same thing.
That's my story.
#2
Yup, lease rates are VERY unfavorable across the board right now. All 3 of the "Big 3" oversubsidized leases with pumped up residuals for so long that they are now taking a bath on returns.
It's too bad, as I've traditionally leased at least one car, but looks like my next will be a buy.
It's too bad, as I've traditionally leased at least one car, but looks like my next will be a buy.
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guionM
Automotive News / Industry / Future Vehicle Discussion
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10-03-2003 08:52 AM