bbradshaw14
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I'm curious what people who are leasing are finding in Feb for rates?
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Those are good numbers for a Wrangler. What bank? Is that Chrysler?I just got back from the dealer, picked up a Sport S for 39 months, 10k at 74% residual and .00161 MF
It was through US Bank. Forgive me if that is considered Chrysler, I've never leased through them before.Those are good numbers for a Wrangler. What bank? Is that Chrysler?
Nope. Different bank. Very helpful.It was through US Bank. Forgive me if that is considered Chrysler, I've never leased through them before.
Woah that's a pretty good MF. I had heard it was .0019-.0022I just got back from the dealer, picked up a Sport S for 39 months, 10k at 74% residual and .00161 MF
Did you have to go into US Bank to get that, or did they just give that to you at the Dealership?I just got back from the dealer, picked up a Sport S for 39 months, 10k at 74% residual and .00161 MF
This was at the dealership. Originally they had said .00130, however my math calculates at it roughly .00161Did you have to go into US Bank to get that, or did they just give that to you at the Dealership?
Correct on all of the above, nice work. You are also correct in my opinion. A lease is about the payment, getting more for a lower payment. I've never once had someone say that they would take the higher lease payment because the rate was lower. It just doesn't make any sense.There are basically three main banks that dealers use for leasing (though @JLWF Dealer Guy says he uses a lot more). USBank, Chrysler Financing and Ally.
None of them that I am aware of will sell directly to a customer. They only work with dealers.
A lot of dealers don't do many leases and they just use Chrysler. A lot use Chrysler and Ally.
Ally tends to do very high money factors and residuals. But sometimes that combination results in a lower payment. Residual has more impact on payment than money factor.
Chrysler is the one we see quoted here the most - residuals between about 74% - 64% and money factors between .0019 - .0023
On the Edmunds forum they have started quoting .00193 as the standard money factor from Chrysler.
This is the first quote I have seen from USBank and it looks like a lower money factor with a similar residual to Chrysler. That is a winner for me (though @JLWF Dealer Guy will tell you to just go for the lowest payment).
You can ask a dealer who they work with for leasing. Some are cagey about it for some reason - probably just because nosey customers are high maintenance.
For example, a lot of times they will just quote the Ally lease because maybe the payment is $10 lower. For most leasing customers that is the most important thing. But if you care about residual or just don't believe in paying a high money factor you can ask them to quote you on Chrysler (or other banks) even if the payment is slightly higher.
Totally reasonable perspective.Correct on all of the above, nice work. You are also correct in my opinion. A lease is about the payment, getting more for a lower payment. I've never once had someone say that they would take the higher lease payment because the rate was lower. It just doesn't make any sense.
Good man! Agreed, buying out at the end, I can see that. My rebuttal with that is, if you then take a whatever year term out, lets call it 5. Then you essentially took out a 8 year loan. At that time, it's a Wrangler, but still a used car, the rate would be higher than if you initially purchased the vehicle. Additionally, at the high residual, the loan amount would be higher as well.Totally reasonable perspective.
Would only make sense if you are looking to buy out at the end (not really a good idea with a wrangler) or if you are hoping for a little equity at the end to flip to your next vehicle. I fall into the latter camp. But only if the payment is close. And only with wranglers. I don't care on other vehicles.
Thats why i tag you. yout perspective is just as valid as mine so i try to present both. Better than the lease shaming that dominates these kind of forums.
Yes. I've done the math and it doesn't work on a Wrangler.Good man! Agreed, buying out at the end, I can see that. My rebuttal with that is, if you then take a whatever year term out, lets call it 5. Then you essentially took out a 8 year loan. At that time, it's a Wrangler, but still a used car, the rate would be higher than if you initially purchased the vehicle. Additionally, at the high residual, the loan amount would be higher as well.
Just did a lease through Chrysler, I think I saw somewhere here .00119 MF, lets use that, 36 months, 10k miles a year $0 down $49000 MSRP. Roughly a $500 a month payment. (Depending on taxes, fees, reg, etc. you pay $500 a month for 36 months. The Res is $32700 at the end. Say 60 month loan at 4.99% Remember, you have to finance taxes again if buying out. Lets call that finance amount roughly $36000. Payment goes to $680 a month. so $500 x 36=$18000 $680 x 60 + $40800 total is $58800 total paid if taken to terms. Finance it from the start with nothing down, 3.99 for 72 months, payment is 765 roughly. total paid, $55080 Saves you 2 years payments and $3700.
Lease buyers rarely are looking to plunk down a check for the residual at the end of the lease because they basically could have just paid cash up front in the first place.