HEMI To The Masses: Dodge Challenger R/T From $306/Month, $0 Down (Expired)

Rear-wheel drive. 375-hp V8. 6-speed manual. Those are the three things you need to know about the Dodge Challenger R/T. And if you go easy on the options, it can be a decent lease, too. We'll take one in white (because Vanishing Point).

2016 Dodge Challenger R/T Scat Pack (source: www.dodge.com)

The Lease Program

The cost of leasing a particular car is determined by its lease program, which is set by the manufacturer, and the selling price, which is set by the dealer. Here is Chrysler Capital's lease program for January 2016:

  
    Residual Values (36 months)
  

    2016 Challenger R/T
    10,000 Miles/Year
    12,000 Miles/Year
    15,000 Miles/Year
  

    Residual
    63%
    62%
    60%
  

    Money Factor
    .00156
    .00156
    .00156
  

These rates are consistent for most parts of the U.S., including California, New York, and Florida. There's $500 in lease cash available to all, as well as the following targeted incentives: $1,000 Competitive Lessee Cash, $500 Military Cash, and $500 Lessee Loyalty Cash (choose from 1 of the 3). There's also additional $500 Bonus Cash on select in-stock cars with a 49B Tracking Code.

Selling Price

A 2016 Challenger R/T has an MSRP of $32,990. According to a third-party car shopping website, the average selling price of that model is $32,180 before incentives (Southern California zip code). The lowest selling price currently offered by a dealer on said car shopping site is $30,500 before incentives.

Putting It Together ($306/Month, $0 Down)

Use the lease calculator below to customize your own inputs. Here's a sample deal of a 2016 Challenger R/T assuming a selling price of $30,500, a California sales tax rate of 9%, a 10,000 miles per year lease, and use of the $1,000 Competitive Lessee incentive (in addition to the $500 lease cash).

(11/13/17: Have issues with the calculator loading? Refresh the page. We are working on a fix.)

MSRP:

Sales Price:

% off MSRP

Taxed Incentives:

e.g., cash-back offers, loyalty cash, bonus cash.

Untaxed Incentives:

e.g., manufacturer-to-dealer cash rebate or if you live in a state where customer cash rebates are not taxed.

Down Payment:

Acquisition Fee:

I want to pay my acquisition fee upfront.

Net Capitalized Cost:

Residual: %

( miles/yr)

Months:

Miles/yr:

Adjusting the miles changes the residual(%).

Money Factor:

APR: %

Monthly Payment (Excl. Tax):

Document Fee:

License/Registrat. Fee:

Sales Tax: %

Tax your state, county, and city levy.

Tax is levied on the monthly lease payment (most states).

Tax is levied on the sales price upfront (e.g. VA, TX, GA).

Tax is levied on the total lease payment upfront (e.g. NY, MN, OH).

Monthly Payment (incl. tax):

Drive Off:

First month's Payment incl. tax:
Down payment:
Registration and doc fee:
Total MSD Payment:
Tax on cap cost reduction and fees:

First Month's Payment:
Down payment:
Registration and doc fee:
Total MSD Payment:
Tax on the Sales Price:

First Month's Payment:
Down payment:
Registration and doc fee:
Total MSD Payment:
Tax on the total lease payment:
Tax on cap cost reduction and fees:

Leasehackr Score:

The number of years it would take for the accumulated monthly payments to exceed the MSRP. Higher is better.

Disposition Fee:

Total Lease Cost:

The total cost of leasing over the lease term, including applicable taxes and disposition fee but excluding registration/license fee and the refundable MSD payment.