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Could someone check if the lease numbers have been released since its January?

LMontes

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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.
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?
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ThirtyOne

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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?
Then the payment should be lower.
 

ThirtyOne

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I spoke with Craig from Koons the other day and he confirmed the 74% residual for the Sport S Unlimited 36/10K lease, but then he said that the money factor is .00385. That seems extremely high.. You're ordering and leasing from Koons too right?
I'm considering Koons but this is the thing that I am not comfortable with. I'm glad you got a money factor out of him he wouldn't share anything with me.

As @BDJeep1 said that is an outrageous money factor. No way I will do that. A dealer could get away with that on some lease special on a $20,000 car where it is practically like a credit card balance. But on a $40k-$50k car it is way too high.

Not that I am advocating this but you could do a 96-month loan with a 5.25% interest rate and end up way ahead - if you get out or refinance after 3 years. Your payment would be pretty similar and you would have a much lower residual.

The rate matters. But even the payment on that would be in the mid $400s which is too high for a Sport I hope.

Was that tier 1 credit?
 
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kacper244

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I'm considering Koons but this is the thing that I am not comfortable with. I'm glad you got a money factor out of him he wouldn't share anything with me.

As @BDJeep1 said that is an outrageous money factor. No way I will do that. A dealer could get away with that on some lease special on a $20,000 car where it is practically like a credit card balance. But on a $40k-$50k car it is way too high.

Not that I am advocating this but you could do a 96-month loan with a 5.25% interest rate and end up way ahead - if you get out or refinance after 3 years. Your payment would be pretty similar and you would have a much lower residual.

The rate matters. But even the payment on that would be in the mid $400s which is too high for a Sport I hope.

Was that tier 1 credit?
He did not mention if it was Tier 1 credit, but he said the rate would most likely change next month. I will not pay anything over .0022 personally.
Chrysler Residuals : on 15k miles no standard rate available that I can find
Tiers 1-3 Only
12,000 Miles to 10,001 miles able to add:
1 point for 24 & 27 months, 2 points for 36, 39, & 42 months, 3 points for 48 months.
Up to 10,000 miles able to add:
2 points for 24 & 27 months, 3 points for 36, 39, & 42 months, 4 points for 48 months.

Sorry its outta wack a bit but I think you get it.

upload_2018-1-13_19-40-10.png


upload_2018-1-13_19-39-32.png
upload_2018-1-13_19-39-43.png
What range in your opinion is a fair money factor rate? Do you think I can get .0019 or .0020 in about 2-3 months? I would be Tier 1. I just got quoted .00385 and I think that is extremely high.
 

ThirtyOne

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He did not mention if it was Tier 1 credit, but he said the rate would most likely change next month. I will not pay anything over .0022 personally.

What range in your opinion is a fair money factor rate? Do you think I can get .0019 or .0020 in about 2-3 months? I would be Tier 1. I just got quoted .00385 and I think that is extremely high.
I would hope that they would get to the JK range which was already high - about .0019 - .0022.

But rates overall will probably rise in the next few months. So maybe top out at .0024. That's 5.75% which is pretty hard to swallow.
 

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Sschmittou

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Shore2shore credit union just approved me.

72 months
1.99%

$52,610 - $13000 down payment $583
$52,610 $0 down $775

Going to put the $1300 down

Dealer offer lease I rejected, but here is the info.

FFP $49,377 money factor 0.00165 (3.96%) 70% residual. US BANK

36 months, 10k miles, $700 down
$565 monthly
39 months, 10k miles, $700 down
$545

Buyout $36,130 (36) $35,6xx (39)
 

guarnibl

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Shore2shore credit union just approved me.

72 months
1.99%

$52,610 - $13000 down payment $583
$52,610 $0 down $775

Going to put the $1300 down

Dealer offer lease I rejected, but here is the info.

FFP $49,377 money factor 0.00165 (3.96%) 70% residual. US BANK

36 months, 10k miles, $700 down
$565 monthly
39 months, 10k miles, $700 down
$545

Buyout $36,130 (36) $35,6xx (39)
Wow, pretty awesome.

Based on this, we can use tools like leasehackr etc to calculate lease rates. Assume no sales tax is involved in this calculation? At last here in AZ, it's 7.95% for some cities of the lease payment. Either way, very low drive off and a payment of $545 is great. With tax here in Scottsdale you would be around $595 total incl. tax in the lease. Higher drive off because of the VLT (which would be ~$800 or so) though than this calc is showing.

Still, I think these make more sense to buy than lease, perhaps unless you're talking a Sport Unlimited apparently.
 

ThirtyOne

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Shore2shore credit union just approved me.

72 months
1.99%

$52,610 - $13000 down payment $583
$52,610 $0 down $775

Going to put the $1300 down

Dealer offer lease I rejected, but here is the info.

FFP $49,377 money factor 0.00165 (3.96%) 70% residual. US BANK

36 months, 10k miles, $700 down
$565 monthly
39 months, 10k miles, $700 down
$545

Buyout $36,130 (36) $35,6xx (39)

A .00165 money factor is very good for a Wrangler.

Agree that if you have the money to put down and you want to keep the Jeep for a while the loan is a better deal.

Thanks for sharing!

Edit: I answered too quickly and said the residual was high. For 10,000 miles that could be a good residual especially if it is a Rubicon.
 
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Sschmittou

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A .00165 money factor is very good for a Wrangler.

Agree that if you have the money to put down and you want to keep the Jeep for a while the loan is a better deal.



Thanks for sharing!

Edit: I answered too quickly and said the residual was high. For 10,000 miles that could be a good residual especially if it is a Rubicon.
Yes this is a loaded rubicon msrp $53k 1% below invoice at $49,377, premium soft but every other option except smokers and trail mgnt.

I was torn between the 39 month lease and the buy with 13000 down.

My credit union broke down the loan for all 72 months, at the 39 month mark I would owe around 19k. So I figure if I sell the wrangler for around the 36k residual at 39 months I would have 16k to put down on a 2021 for example.
 
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ThirtyOne

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Yes this is a loaded rubicon msrp $53k 1% below invoice at $49,377, premium soft but every other option except smokers and trail mgnt.

I was torn between the 39 month lease and the buy with 13000 down.

My credit union broke down the loan for all 72 months, at the 39 month mark I would owe around 19k. So I figure if I sell the wrangler for around the 36k residual at 39 months I would have 16k to put down on a 2021 for example.
At the end of the day, a lower interest rate is always a better deal. Because math.
 

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LMontes

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Shore2shore credit union just approved me.

72 months
1.99%

$52,610 - $13000 down payment $583
$52,610 $0 down $775

Going to put the $1300 down

Dealer offer lease I rejected, but here is the info.

FFP $49,377 money factor 0.00165 (3.96%) 70% residual. US BANK

36 months, 10k miles, $700 down
$565 monthly
39 months, 10k miles, $700 down
$545

Buyout $36,130 (36) $35,6xx (39)
So do all Chrysler dealerships work with US Bank? That is a great money factor, my dealer told me today .00240. Way to high in my opinion. This was not based on my actual credit score, which is excellent, but I asked him for lease rate for excellent credit. I am going to need to really work some negotiations.
 

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So do all Chrysler dealerships work with US Bank? That is a great money factor, my dealer told me today .00240. Way to high in my opinion. This was not based on my actual credit score, which is excellent, but I asked him for lease rate for excellent credit. I am going to need to really work some negotiations.
What the heck was is based on if not the credit score?
 

LMontes

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What the heck was is based on if not the credit score?
I think he just gave me a run of the mil number. This was over the phone, quick calculation. I just want as much info so that when I go in to pick up my jeep, I have a more realistic number to work with.
 

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Are any of you getting confirmed, locked in lease rates at time of ordering ? No dealer I have spoken to will quote me lease #s only bottomline sales price. Yet, I’m seeing guys here posting quotes but how is that possible when programs aren’t out or won’t be applicable when your Jeep arrives.

These things change month to month, can someone explain?
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