Chrysler Residual Values Increase Dramatically
Residual values for all three Chrysler brands (Chrysler, Dodge and Jeep) have risen dramatically since May, according to Automotive Lease Guide.
This is good news for car buyers because higher residual values means lower monthly lease payments and higher trade-in values.
The 36 month residual value for Chrysler is now at 32.5%, an increase of 3.7%. Dodge is at 34.8%, an increase of 3.5% while Jeep's value increased a whopping 5% to 37.4%.
The reason residuals have increased so quickly is due to Chrysler's quick exit from bankruptcy and the fact that all excess cars from the 789 terminated dealerships were sold off or transferred to other dealers.
We expect GM residuals will also increase dramatically in the next month or two now that they've also exited bankruptcy quickly.
3 Steps Every Car Buyer Needs to Take to Save Maximum Money
The key to getting the best deal is to gather price or lease bids from as many local dealers as possible. Then shop that best price around until no one can beat it. Here are the steps:Step 1 Get Prices From My Trusted Network
Select the vehicle you're interested in to see if there are local dealers in my network who will provide you with their best upfront price. You will get direct access to an internet sales manager who you can further negotiate with online (no need to visit dealership).Step 2 Get Prices From TrueCar / CarsDirect
TrueCar, and CarsDirect are my top 2 online price quote recommendations. These services show you pre-negotiated prices from dealers closest to you - and the deals are usually pretty decent. But remember, you can still negotiate further.Step 3 Complete my Checklist
Follow this up with my checklist to make sure you squeeze out every last bit of savings.- Gregg Fidan
Each week, I'll keep you up-to-date on the latest car deals and news that might affect your purchase. This includes...
- Best Rebates, Incentives, and Lease Deals
- Latest Car Buying Scams and Tricks
- The Best & Worst Time to Buy a Car
- Which Cars You Should Avoid
About The Author
Gregg Fidan is the founder of RealCarTips. After being ripped off on his first car purchase, he devoted several years to figuring out the best ways to avoid scams and negotiate
the best car deals. He has written hundreds of articles on the subject of car buying and taught thousands of car shoppers how to get the best deals.
Latest Weekly Car Buying Tips
January 2023
- Best Car Deals Around the Country Jan 26, 2023
- Price Comparison of Subcompact SUVs Jan 26, 2023
- Tesla Drops Prices Up to 30% Jan 26, 2023
- New Cars You Should Wait to Buy Jan 26, 2023
- Top 100 Cheapest Lease Deals Jan 19, 2023
- Best Car Deals by Category Jan 19, 2023
- Cars With the Largest Rebates Jan 19, 2023
- Real Prices of Large SUVs Jan 19, 2023
- New Cars with the Most Available Inventory Jan 12, 2023
- Biggest Discounts on New Cars Jan 12, 2023
- Real Prices of New Compact SUVs Jan 12, 2023
- Real Finance Rates with 750 Credit Score Jan 12, 2023
- Best Bang for Your Buck Lease Deals Jan 05, 2023
- Best Electric, Hybrid Lease Deals Jan 05, 2023
- Best 0% Finance Deals January 2023 Jan 05, 2023
- Real Prices of Midsize SUVs Jan 05, 2023
December 2022
- Used Car Prices Declining Dec 29, 2022
- Top 100 Cheapest New Cars Dec 29, 2022
- Real Prices of Pickup Trucks Dec 29, 2022
- Real Prices of Midsize Cars Dec 15, 2022
- Real Prices of Compact Cars Dec 08, 2022
- Worst Cars to Lease Right Now Dec 01, 2022
- Lease Deals with Loyalty & Conquest Rebates Dec 01, 2022
- Largest Hidden Dealer Rebates Dec 01, 2022
