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

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)

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).

Select to auto-populate the acquisition fee, disposition fee, and MSD fields.
% off MSRP
e.g., cash-back offers, loyalty cash, bonus cash.
e.g., manufacturer-to-dealer cash rebate or if you live in a state where customer cash rebates are not taxed.
I want to pay my acquisition fee upfront.
%
( miles/yr)
Adjusting the miles changes the residual(%).
APR: %
Enroll in Mercedes-Benz Autopay to lower the MF by 0.00010
I want to pay my total lease payment upfront to lower the MF by 0.00073.
APR: %
%
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).
First month's Payment incl. tax:
Down payment:
Registration and doc fee:
Total MSD Payment:
Tax on cap cost reduction and fees:
Acquisition Fee:
First Month's Payment:
Down payment:
Registration and doc fee:
Total MSD Payment:
Tax on the Sales Price:
Acquisition Fee:
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:
Acquisition Fee:
The number of years it would take for the accumulated monthly payments to exceed the MSRP. Higher is better.
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.

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