JL Lease info.

[ThirtyOne]

Okay so residual is 74% and money factor is 8.25 is that any good? Just got word that my monthly would be 458/39mo

It's hard for me to say what a good rate is with a lower credit score. Honestly, the residual is too high and the rate is too high to be considered a good deal. but the dealers are giving you a payment that is reasonable for the vehicle you are buying given your credit.

I was in the same position a few years ago. I didn't buy the Jeep. I worked on my credit and paid down my debt and drove a beater for a couple of more years. I felt like I needed to listen to the little voice inside my head telling me to be a grown-up.

But you need to make that decision for yourself.

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[Justtiffmonae]

It's hard for me to say what a good rate is with a lower credit score. Honestly, the residual is too high and the rate is too high to be considered a good deal. but the dealers are giving you a payment that is reasonable for the vehicle you are buying given your credit.

I was in the same position a few years ago. I didn't buy the Jeep. I worked on my credit and paid down my debt and drove a beater for a couple of more years. I felt like I needed to listen to the little voice inside my head telling me to be a grown-up.

But you need to make that decision for yourself.

what's a normal residual for a new wrangler? Do the dealers set it themselves?

 

[Justtiffmonae]

what's a normal residual for a new wrangler? Do the dealers set it themselves?

It's hard for me to say what a good rate is with a lower credit score. Honestly, the residual is too high and the rate is too high to be considered a good deal. but the dealers are giving you a payment that is reasonable for the vehicle you are buying given your credit.

I was in the same position a few years ago. I didn't buy the Jeep. I worked on my credit and paid down my debt and drove a beater for a couple of more years. I felt like I needed to listen to the little voice inside my head telling me to be a grown-up.

But you need to make that decision for yourself.

yea, I get what you are saying about credit my issue is a short history not debt

 

[ThirtyOne]

yea, I get what you are saying about credit my issue is a short history not debt

That's good but harder to fix quickly.

Sahara at 10,000/39 months fair lease deal would be:

Residual - 66%
Money factor/rate - .0019 - .0023/4.56% - 5.52%

 

[JMONEZ]

For what it’s worth...
Today I leased a 2018 JL sport almost fully loaded MSRP $45585 purchase price of $42,6xx
36 mo lease/ 12k
Money factor .0196
Residual 74%
$1500 drive off
$450 mo including CA tax

 

[ThirtyOne]

For what it’s worth...
Today I leased a 2018 JL sport almost fully loaded MSRP $45585 purchase price of $42,6xx
36 mo lease/ 12k
Money factor .0196
Residual 74%
$1500 drive off
$450 mo including CA tax

Congratulations!

 

[mde8965]

For what it’s worth...
Today I leased a 2018 JL sport almost fully loaded MSRP $45585 purchase price of $42,6xx
36 mo lease/ 12k
Money factor .0196
Residual 74%
$1500 drive off
$450 mo including CA tax

Nice! Congrats on your new Jeep.

Residual % on these jeeps is a dual edge sword for me. I won’t be ordering for about 6-7 months. The higher money factor and higher residuals on wranglers while the lease payments would be nice without huge drive offs, I am guessing at the end of 3 years I would not want to buy out a $50k Jeep that I bought for $45k 3 years later for $38k.

But to me part of the fun of owning a Jeep is making it your own, and not feeling like your renting somebody else’s vehicle.

I love leasing but on a Wrangler I’m torn. I’ll probably buy but that will mean a $15k down payment on a $53k Rubicon just to keep the monthly payment under $650 for 60 months. I won’t finance for any longer than that.

 

[JAW]

That's pretty similar to JK. The MF is a tick higher but rates are going up in general.

Of course those rates are pretty crappy. .00190- .00230 = 4.56% - 5.52%

So, I leased mine. I was going back and forth if I should buy it. The only cars I usually lease are BMW's, I always trade them early. Mostly because my local dealer takes care of me pretty well. I don't keep most cars very long.... I've had my JLUR for a few weeks now and I like it more then I though. Thinking maybe I should just pay off the lease. I don't remember my MF and I don't see it in my paperwork. Seems okay though...

MSRP= $54,820
Paid= $50,274.19
36 month lease 10k year
$577 payment
Just first payment down. ($577)

 

[snelldogg]

Wow, I went to a few dealerships and they all pretty much made it seem like there wasn't much wiggle room becuase #1 it's a wrangler and becuase it's so new, I'm feeling like I need to renegotiate my deal‍ Do you think that's possible?

you are so right, I actually mentioned your info when I called to find out any updated status info (D1) and right away he started saying that your credit is prob T1 (mine is T2) based on Chrysler capital and that you put an extra 1k down, and your MSRP is lower but with that said the numbers still seem way off. 1k diff is about 20$ diff on a monthly right?

I live in N NJ about 30 mins from NYC and negotiated a group rate for all of us that will get you 3% under invoice. Without knowing your specific build it should take your "paid" price into the 43K range. PM me for more info or check out the this thread:

https://www.jlwranglerforums.com/forum/threads/nj-group-deal-invoice-3-tri-state-rejoice.2640/

 

[airesucs]

I'm looking to lease a new JL. Was hoping to get some input on some numbers I got from the dealership. I haven't really negotiated price and my wife works for a company that is a "preferred partner' thus the discount on MSRP.

Example: 2018 JL Sport S
msrp: $39,375
price paid.$37,700
State: TX
Residual: 81%
terms: 39 mo / 10K per year
Rate: 0.493206
Upfront payment: Only first lease payment (no additional fees or TTL)
monthly payment: $470

I have T1 credit.

Let me know what you guys think. Much appreciated!

 

[ThirtyOne]

I'm looking to lease a new JL. Was hoping to get some input on some numbers I got from the dealership. I haven't really negotiated price and my wife works for a company that is a "preferred partner' thus the discount on MSRP.

Example: 2018 JL Sport S
msrp: $39,375
price paid.$37,700
State: TX
Residual: 81%
terms: 39 mo / 10K per year
Rate: 0.493206
Upfront payment: Only first lease payment (no additional fees or TTL)
monthly payment: $470

I have T1 credit.

Let me know what you guys think. Much appreciated!

That rate doesn't make sense. Is it a money factor or an interest rate? Let me know and i can give you some feedback.

On the surface i would say your residual is too high and your payment is also too high. Not a good combination.

 

[maccabiNYC]

I'm looking to lease a new JL. Was hoping to get some input on some numbers I got from the dealership. I haven't really negotiated price and my wife works for a company that is a "preferred partner' thus the discount on MSRP.

Example: 2018 JL Sport S
msrp: $39,375
price paid.$37,700
State: TX
Residual: 81%
terms: 39 mo / 10K per year
Rate: 0.493206
Upfront payment: Only first lease payment (no additional fees or TTL)
monthly payment: $470

I have T1 credit.

Let me know what you guys think. Much appreciated!

I don't know about that deal. I just leased a JLU Sport S last night, pretty loaded, and the payments came out to $380 a month.

MSRP 41,130
Sale Price 39,569
39mo/12k
Zero down. Rolled taxes into payments.
Bayside Jeep (Queens, NY)

 

[ThirtyOne]

yea, I get what you are saying about credit my issue is a short history not debt

If you have low debt and you can afford the payment but you are young without credit history than maybe it makes sense to lease a nice car, establish a credit history, then in a few years you can turn in your lease and get your next vehicle at a better rate. A payment in the $400s is not bad for a Sahara.

This is why every situation is different and everyone needs to make their own decision.

 

[iki4life]

I don't know about that deal. I just leased a JLU Sport S last night, pretty loaded, and the payments came out to $380 a month.

MSRP 41,130
Sale Price 39,569
39mo/12k
Zero down. Rolled taxes into payments.
Bayside Jeep (Queens, NY)

That sounds like a really good deal.
Im getting 39mo/15k Sahara with 5k down for $380 a month on 0.00196 residual and 63% residual. Is this good a good deal? MSRP- 45,680. Agreed price- $41,700

 

[snelldogg]

That sounds like a really good deal.
Im getting 39mo/15k Sahara with 5k down for $380 a month on 0.00196 residual and 63% residual. Is this good a good deal? MSRP- 45,680. Agreed price- $41,700

I am sure you have heard this before but putting money down on a lease is never a good idea!

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