LMontes
Well-Known Member
- First Name
- Lori
- Joined
- Oct 26, 2017
- Threads
- 1
- Messages
- 158
- Reaction score
- 126
- Location
- Roseville, CA
- Vehicle(s)
- 2018 JLU Sahara, 1994 XJ
- Occupation
- Business Owner
Wh
What if you don't intend to keep the Jeep and you plan to return at lease end and lease a newer one, would this still be a bad deal? Does the residual being high matter in this situation?So I was reviewing the Edmunds forums to see if there was any new information there (there wasn't).
A guy got a $379/month payment on a $39k JLU 39 months @ 12,000/year basically nothing down.
Even the moderator said that sounded like a great deal.
Then the guy got home AFTER buying the vehicle and calculated his residual - 78%!
At 78% that is not a great deal, even if that is a good payment (assuming tier 1 credit)
A high residual is not necessarily bad but you need to get a really low money factor and rock bottom payments to make up for still having almost 80% of the value remaining after 39 months.
At least review your residual value before you do the deal. If you are confused about leasing post here or PM me. Dealers aren't trying to screw people on leases necessarily but they know that if they get the payment to the right place they can pick up some juice on the financing. Which is fair as long as the customer knows what they are getting into.
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