While I think that Dodge has done a great job on the new 2009 1500s(hopefully gas prices will continue to come down), I cannot say the same for their new minivans. The new Chrysler and Dodge minivans were a big disappointement, interior fit and finish was poor, fabrics and plastics felt cheap, drivetrain was harsh. While the same basic Honda Odyssey has been in production for a number of years, it is in a totally different league. Fantastic interior, nice looking exterior for a box, engine/tranny smooth as silk. And to top it off, the Honda was thousands of dollars less, comperably equipped. Chrysler has to do better to survive.
Capt Skup
AD-1(AW)USN Ret.
Wonderful Wife, 3 beautiful Daughters
"Never get in a battle of wits with an unarmed man"
I'm glad they are getting out. That is a big rip off for the consumer, whether they know it or not/admit it or not.
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Capt Skup wrote: While I think that Dodge has done a great job on the new 2009 1500s(hopefully gas prices will continue to come down), I cannot say the same for their new minivans. The new Chrysler and Dodge minivans were a big disappointement, interior fit and finish was poor, fabrics and plastics felt cheap, drivetrain was harsh. While the same basic Honda Odyssey has been in production for a number of years, it is in a totally different league. Fantastic interior, nice looking exterior for a box, engine/tranny smooth as silk. And to top it off, the Honda was thousands of dollars less, comperably equipped. Chrysler has to do better to survive.
You’re the first person that I have heard say that. I have asked many many people how they like their new Mini van and have always heard “We Love It”! Maybe I’m a little biased seeing I work for Chrysler but I have looked at the Honda’s and to say “Fantastic interior” I just don’t see it, same with the Toyota. Maybe if you compare the entry level Chrysler/Dodge to the top of the line Honda but that would be the only way….IMO.
Q - How does this impact customers who want to lease?
Landry
Customers who want to lease continue to go to the Chrysler, Jeep or Dodge dealership of their choice, and our dealerships will have other financial instruments for leasing. As a matter of fact, we will continue to offer our dealers an incentive based on the dealer doing an independent lease with a third party.
Problem is, Chase handled a large percentage of Chrysler 3rd-party leases, and they also announced that they would no longer provide leases for Chrysler dealers. Other finance companies are expected to follow suit.
Excerpted from Automotive News: Chase was afraid auto dealers would flock to it in the wake of Chrysler Financial's decision on Friday, July 25, to stop financing leases, said Chase spokeswoman Mary Kay Bean.
Chase is concerned about declining vehicle values, said Chase spokeswoman Nancy Norris.
With Ford posting a $2.1 Billion loss due to declining residuals, it's little wonder that companies don't want to touch domestic auto leases.
Capt Skup wrote: While I think that Dodge has done a great job on the new 2009 1500s(hopefully gas prices will continue to come down), I cannot say the same for their new minivans. The new Chrysler and Dodge minivans were a big disappointement, interior fit and finish was poor, fabrics and plastics felt cheap, drivetrain was harsh. While the same basic Honda Odyssey has been in production for a number of years, it is in a totally different league. Fantastic interior, nice looking exterior for a box, engine/tranny smooth as silk. And to top it off, the Honda was thousands of dollars less, comperably equipped. Chrysler has to do better to survive.
You’re the first person that I have heard say that. I have asked many many people how they like their new Mini van and have always heard “We Love It”! Maybe I’m a little biased seeing I work for Chrysler but I have looked at the Honda’s and to say “Fantastic interior” I just don’t see it, same with the Toyota. Maybe if you compare the entry level Chrysler/Dodge to the top of the line Honda but that would be the only way….IMO.
Don
Pay no attention to the man behind the curtain Don.
I recently rode in a new Dodge Grand Caravan with only 6000 miles on it. My wife's aunt had rented it for a trip. The fit and finish was excellent and there was nothing "harsh" about the drivetrain, and the base 3.3 v6 in the Dodge/Chrysler is second to none in durability and reliability.
Chrysler isn't perfect by far, but they know how to build minivans.
If they would just hurry up with a suitable replacement for the Neon to compete in the Ford Focus/Chevy Cobalt category they would be much better off.
* This post was
edited 07/31/08 07:37pm by surveyorjp *
2005 Surveyor SV-291 Tows smooth as silk!
1995 Dodge Ram 1500 Laramie SLT 4x4 5.9L V8 low miles, It ain't pretty, but it's paid for!
Chrysler isn't the only one discontinuing leasing, GM just made the same announcement. the problem admitted by GM that triggered their decision was the vast majority of leasers were simply returning the vehicles instead of exercising the purchase option at end of lease term with the reasoning that the amount stipulated for the purchase was more than the vehicle was currently worth. Their answer queries of "what now" was to state a major restructure of their finance plan to provide purchase options to folks with monthly finance charges identical to lease payments.
Today is just the tomorrow you worried about yesterday!
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Well here is something that does not make since to me, my neighbor has a 04 2500 Ram 4X4 Hemi and would love to buy it out. I told him to call Chrysler Credit Corp and make them an offer to buy it below his predetermined buy out price. Well he did (call) and was told the price in the contract is what you will pay, he told them if he turns it in they will take a bath on it at auction and the lady told him that he does not need to worry about CCC.
I told Tom to call Chrysler or better yet E-mail Jim Press and ask him if he knows how CCC talks to his Customers and is there anything he could do to help him out.
Will be interesting to see if he gets a reply back or not.
I am only expressing my own opinion. However it seems the same opinion of many others. Which dealer was busy with sales, which dealer was a ghost town. While the Chrysler salesman, who was demonstrating to us their top trim level van, spoke highly of both rows of seats folding an stowing into the floor "and" how second row rotated to face the rear, he became quite flustered when I pointed out that infact this feature omitted the storage capability. Have you actually attempted to rotate those seats? I did think the dual rear monitors was unique until I saw the quality of the installation.
BruceStarkey wrote: Chrysler isn't the only one discontinuing leasing, GM just made the same announcement. the problem admitted by GM that triggered their decision was the vast majority of leasers were simply returning the vehicles instead of exercising the purchase option at end of lease term with the reasoning that the amount stipulated for the purchase was more than the vehicle was currently worth. Their answer queries of "what now" was to state a major restructure of their finance plan to provide purchase options to folks with monthly finance charges identical to lease payments.
Only a small minority of people buy their cars at the end of the lease. But you hit the nail on the head because the residual values have plummeted to well below what the automaker needed to get to turn a profit.
Also, GM said they would curtail leasing but they didn't announce a wholesale retreat from the leasing market like Chysler did.
DETROIT -- GMAC Financial Services said today it swung to a net loss of $2.48 billion in the second quarter as its auto finance business took major writedowns due to plummeting residual values of SUVs.
"This is the perfect storm for our business," Chief Financial Officer Rob Hull said on a conference call with analysts and reporters.
Hull said that in June, GMAC was only able to recover about 75 percent of what it had expected on sales of off-lease SUVs. It was able to recover about 85 percent of what it had expected across all vehicles.
In related news: DETROIT -- To calm fears about its financial health in a shaky credit market, Chrysler LLC announced operating income of $1.1 billion for the first half of 2008.
Because Chrysler is privately owned, details of how the company came to the $1.1 billion figure are not subject to public scrutiny.
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