Chrysler Residual Values Increase Dramatically
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.
My Recommendation for Car ShoppersTrueCar No-Haggle, CarsDirect, and Ryde Shopper are the quickest way to see the lowest car prices in your area. These sites show you no-haggle prices from dealers closest to you - and the deals are usually really good. This should be the first step you take when negotiating your car price. 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