Chrysler recently announced that their dealers will soon be able to offer customers the option to lease their vehicles again. This is obviously good news for the company and its dealers, but I wonder what type of residual will some of these cars have? The residual is best explained this way: if you lease a car for 3 years the residual determines what percentage of the car you will pay for during those 3 years.
The higher the residual, the less you pay for your car. For example if the residual is 59% you lease 41 % of the car, if the residual is 58% you pay for 42% of the car. Companies like Toyota and Honda lease with very high residuals. Before they terminated leasing, Chrysler’s residuals were VERY low. So if you are considering leasing a Chrysler, check the residual!