Chrysler to resume leasing vehicles soon?
2009 Dodge Ram - Click above for high-res image gallery
In late July 2008, Chrysler announced that it would stop leasing vehicles effective August 1. The news helped exasperate the decline of Chrysler group vehicle sales while giving customers fewer options for getting into a new vehicle. After leasing was discontinued, Chrysler's market share dropped from 11.3% to 9.2%. The decline came in part because of Chrysler's very public bankruptcy proceedings and its lackluster product lineup, but there is little doubt that the end of vehicle leasing was also a major contributor to the automaker's precipitous decline.
In an effort to get back on the right track, Automotive News is reporting that dealer sources say leasing could return to the Pentastar as soon as September 18. Chrysler is reportedly waiting until after next Tuesday to make an announcement so it can look over residual value data from the Automotive Lease Guide before making a final decision. Chrysler, which uses GMAC as its finance arm, could follow General Motors' lead and offer leasing only on select vehicles. AN estimates that the Dodge Ram, Journey, Nitro and Grand Caravan, the Jeep Grand Cherokee and the Chrysler Town & Country could be among the vehicles ready for lease duty.
Gallery: 2009 Dodge Ram
[Source: Automotive News]
Reader Comments (Page 1 of 1)
doug blas 2:55PM (9/11/2009)
I see why you have so many pictures of the Ram with this story. What else would people want from Chrysler? The awkwardly ugly Sebring or its Dodge clone? A Caliber? This company won't regain market share just from reinstating leases. Start over.
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geo.stewart 3:20PM (9/11/2009)
actually the pictures are in hope that you will not notice the use exasperate instead exacerbate in the second sentence.
of course these things are exasperating but are exacerbated by the fact that as I type this comment, the column to the right lists four (4) editors.
Matt1214 2:59PM (9/11/2009)
I turned in my second Grand Cherokee lease in July and may have considered leasing a third one if the option were there. How else can you pay under $300 a month for a $39,000 Grand Cherokee Limited? There's no way I'd pay that much for a Jeep. I think their market share will slowly increase if leasing is an option once again.
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mapoftazifosho 3:20PM (9/11/2009)
So what? Their market share grows on leasing and then they lose everything on the garbage residual value of the vehicle on turn in?
Their model was broken, they should have died and gone away because of this...but no...we'll drag it out a bit longer...
thatguy69 4:20PM (9/11/2009)
I love how people like to flaunt the MSRP. Dude, that's the asking price. Just think for a minute...How can a base 20k SUV (granted, with V6 and less plastic decorations adorned) explode in price to 39k? The answer is it can't. It's just to make you think you're driving and forkin' out a payment for a nice car. You're not the only one to fall for this. Don't get me started on the "Denali" version of anything. When it comes down to it, it's essentially a 16k work-truck underneath. And oh yeah, it depreciates down to that work-truck level in no time...
Toledo Guy 10:15PM (9/11/2009)
Either you really didn't want another Jeep or your dealer wasn't trying very hard. We turned in a Commander last October, and leased a Wrangler Unlimited. US Bank wrote the lease. The dealer actually put 3 banks in front of us who were willing to write the lease for us. I read the lease over before signing, the end of lease charges and per mile penalty were in line with Chrysler Financial. We leased a '99 GC through US Bank as well. No problems dealing with them.
Autoblog - You should add the Wrangler to the list. Residuals are high, rebates low compared to the average Chrysler product. Can't build 'em fast enough at the moment.
geo.stewart 3:22PM (9/11/2009)
"the use of exasperate"
really cant wait for comment editing...
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Poopy 4:07PM (9/11/2009)
Leases don't help if you don't have a product that someone would want to own/be seen in.
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rlewis01 6:34PM (9/11/2009)
That Dodge Ram is gorgeous but can someone tell me why American automakers are still making trucks with a cab that's longer than the bed? If you need a 5-seater, DON'T GET A TRUCK! You could fit more into an SUV than you can in that bed. Ridiculous.
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Peter 6:45PM (9/11/2009)
You're right, I never thought of it that way.