Wanted to know if anyone here recently leased a 2010 SRT8. I see that Chrysler leases are underwritten by GMAC and I never leased with them before (though I leased 10 or so cars in the past 10 years). I am mostly wondering about residuals and money factor for a 3 yr lease. These SRTs must depreciate like there is no tomorrow and though I love the SRT, I am not looking forward to paying $800-$900/month for a lease of truck with a $40K cap cost.

Residuals rates are crazy on these things. Not worth leasing. Buy it.

Actually they don't depreciate all that much. If you search around for used Jeep SRT8s I think you'll be surprised. They are rather limited production (~3000 per year) and production just ended (there's no 2011 Jeep SRT8) so the demand will keep the used Jeep SRT8 prices floating just nicely.

Then again, I'm not sure who is setting those residuals and how they calculate them . .

You're only problem would be if there's a 2012 version (year 3?) which may cause a rush but that's a big IF right now.

Check the for sale section here or search with your favorite 'car finding' search engine. Good luck!

Residuals rates are crazy on these things. Not worth leasing. Buy it.

How crazy?

My broker got me a much better lease deal than the Chrysler/GMAC offering through a bank he works with. Sorry, don't remember the figures. But buying outright was a better deal than either in my case. Then there's the issue of getting bit by the mod bug, and buying just makes more sense on a vehicle like this. Just my $0.02...

wink

Actually they don't depreciate all that much. If you search around for used Jeep SRT8s I think you'll be surprised. They are rather limited production (~3000 per year) and production just ended (there's no 2011 Jeep SRT8) so the demand will keep the used Jeep SRT8 prices floating just nicely.

Then again, I'm not sure who is setting those residuals and how they calculate them . .

You're only problem would be if there's a 2012 version (year 3?) which may cause a rush but that's a big IF right now.

Check the for sale section here or search with your favorite 'car finding' search engine. Good luck!

Well - that's the point. A lease residual "should be" theoretically calculated as a value of a vehicle 3 yrs (or whatever the lease term is) down the road. In reality, they are nowhere near. Its a gamble that a leasing bank takes. For example, the cap cost of my current vehicle was 69K in 2007, my lease is over in 2 months and the buyout is $40K, but you can get the same vehicle for $35K on Ebay today, so my bank (US Bank) lost $5K. Well - they did not actually lose it - they buy some sort of gap insurance product that covers the difference between their estimated residual and actual residual (if former happens to be less than latter). Also, I know that some other banks (BMW Financial for example) have been inflating their vehicle residuals by a huge amount across the board (its the only way to get all those posers to get their cars though they cant really afford them). With US manufacturers, its the other way around - they know their vehicles depreciate like crazy and make customers pay for it.

Anyway - I think you see my point. I really wanted to know if someone on this board actually leased a 2010 recently and what their actual residual was as per lease contract. In the end of the day, for me its all about how much car I can drive for X amount of lease dollars per month.

My broker got me a much better lease deal than the Chrysler/GMAC offering through a bank he works with. Sorry, don't remember the figures. But buying outright was a better deal than either in my case. Then there's the issue of getting bit by the mod bug, and buying just makes more sense on a vehicle like this. Just my $0.02...

wink

The mod bug is the least of my worries. I live in NYC where there are 2 types of people - one that drives decent cars and another that is on the mission to f. up all those decent cars that the 1st type drives. If you park in ANY public parking (mall, movies, supermarket - pretty much anywhere), you are almost guaranteed to find a door ding or two upon return. When parked on the street, other a-holes will make it a goal to hit your front/rear bumpers when parking - that's how they know when to stop. Parking garage valets will contribute as well. I can tell you one thing - I typically lease a new car every 3 years and EVERY time I give the car back in the end of the lease, EVERY bumper and every door is dinged/scratched. People in NYC never value/care about other people's property, and it hurts me to see my car damaged. At the same time, the pain would be worse if I knew I actually own the vehicle.

At some point I am going to have to trade up to a new vehicle and then I will have 2 choices - have the local dealer gang rape me on a trade-in value OR sell the truck privately and deal with hundreds of a-holes who don't actually want to buy anything and just want to waste other people's time. Definitely not my cup of tea, which is why I would prefer leasing.

My truck is parked in a valet parking lot every day in NYC and everything is fine. All you got to do is put the manager on notice that you will put your foot up his ass if something happens to your Jeep. ;)

And I dont leave it unattended.

I used to never lease cars, because the math never worked. Then a few years ago the residuals were artificially high so I leased 3 cars in a row. With each one I made out by several thousand $'s with the actual resale being much lower than the inflated residual.

I bought my Jeep because it is much cheaper to own then lease. The math does not work for a lease on our Jeeps. Your loan payment will be less than a lease payment and your Jeep will be worth more than your loan payoff when you go to sell. I also looked at some BMW's and I would have leased those due to the residual values and actual resale value.

Just run the numbers yourself and you will buy. BTW- good luck with actually getting the residual values out of the dealer. I always have a heck of time trying to obtain that information over the phone.

I used to never lease cars, because the math never worked. Then a few years ago the residuals were artificially high so I leased 3 cars in a row. With each one I made out by several thousand $'s with the actual resale being much lower than the inflated residual.

I bought my Jeep because it is much cheaper to own then lease. The math does not work for a lease on our Jeeps. Your loan payment will be less than a lease payment and your Jeep will be worth more than your loan payoff when you go to sell. I also looked at some BMW's and I would have leased those due to the residual values and actual resale value.

Just run the numbers yourself and you will buy. BTW- good luck with actually getting the residual values out of the dealer. I always have a heck of time trying to obtain that information over the phone.

Yeah I am already getting a whiff of a great customer service - I submitted an email inquiry to one of the dealerships in tri-state area yesterday night and never heard back. Yet Chrysler is supposedly bleeding so their dealerships should be desperate to sell cars. When I was shopping for my previous car 3 years ago, I received responses to email inquiries from MB, Land Rover and Audi within 3-4 hours.

P.S. You have any pictures of your Trans Am? I used to have a 1993 Firebird myself - loved that car.

^- I have always had to pull teeth to get the actual residual values. It was only when I was in person would they actually tell me (not show) the information.

BTW- My Jeep will blow the doors off the WS6, but I still love the car. Pics below.

http://i730.photobucket.com/albums/ww305/mewolfe69/DSCF0219.jpg
http://i730.photobucket.com/albums/ww305/mewolfe69/DSCF0236.jpg
http://i730.photobucket.com/albums/ww305/mewolfe69/DSCF0231.jpg

Crappy pics- it's in storage for the winter like always.

^- I have always had to pull teeth to get the actual residual values. It was only when I was in person would they actually tell me (not show) the information.

BTW- My Jeep will blow the doors off the WS6, but I still love the car. Pics below.

http://i730.photobucket.com/albums/ww305/mewolfe69/DSCF0219.jpg
http://i730.photobucket.com/albums/ww305/mewolfe69/DSCF0236.jpg
http://i730.photobucket.com/albums/ww305/mewolfe69/DSCF0231.jpg

Crappy pics- it's in storage for the winter like always.


Aaaaahhh..tha Ram Air package! Gorgeous color too!

I used to never lease cars, because the math never worked. Then a few years ago the residuals were artificially high so I leased 3 cars in a row. With each one I made out by several thousand $'s with the actual resale being much lower than the inflated residual.

attractive leases will be back - it's the best way for them to increase CPO inventories (which apparently have been low).