392 Lease Deal?

[Rm.perez97]

Has anyone leased a 392 or 392 XR? Can you post your lease deal?

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[cavguy]

Try https://forum.leasehackr.com very good info about leasing there.

 

[Rm.perez97]

Try https://forum.leasehackr.com very good info about leasing there.

Thanks that’s definitely a good source! I checked there but couldn’t find any information on it.

 

[mllcb42]

I checked there but couldn’t find any information on it.

The instructions for how to determine a good lease price for your situation get posted there daily

 

[RationalCPA]

Aim for as close to 1% of MSRP as possible. Thats the sweet spot.

 

[TheBirdie72]

 

[mllcb42]

Aim for as close to 1% of MSRP as possible. Thats the sweet spot.

That rule of thumb doesn't hold up to scrutiny and certainly doesn't inform as to what a good deal is or isn't for a particular vehicle or a particular individual.

 

[Rm.perez97]

The instructions for how to determine a good lease price for your situation get posted there daily

Thank you I looked deeper and found a post with good information on the topic. I have a Willys XR on order and I’m interested on a 392 as well, just wanting to have an idea on numbers.

 

[dalema]

The numbers change based on how it’s configured.

So would just build one using this to figure out your invoice price:
https://www.jlwranglerforums.com/fo...ve-pricing-spreadsheet-for-2022-jl-jlu.80961/

Then look here for a dealer selling it well below invoice (not just a bit below MSRP):
https://www.jlwranglerforums.com/forum/threads/dealers-below-invoice-on-2022-wranglers.80479/

or to make it even easier someone just posted this a couple of days ago:

then as someone above said -use a website to calc the lease payment. once the sales price is fixed, each bank has a fixed residual and the dealer can only monkey around with the money factor / interest rate and dealer fees.

don’t overlook asking for other banks eg USBank vs Crysler Capitol as they surprised me with a very low interest rate with similar residual. When they were running lease scenarios for me, US Banks interest rate was like 0.98%, we’ll below what you could traditional financing for.

YMMV on all of this, so encourage you to get and run your numbers - but to directly answer your question - $700/mth before state taxes, through Chapman PA

 

[mllcb42]

don’t overlook asking for other banks eg USBank vs Crysler Capitol as they surprised me with a very low interest rate with similar residual. When they were running lease scenarios for me, US Banks interest rate was like 0.98%, we’ll below what you could traditional financing for

Usbank charges market rate on 3rd party buyouts and tends to inflate the residual value limiting your ability to effectively buy out the lease yourself. So while your monthly lease cost will be lower, you're removing any opportunity to recapture equity at lease end. As a result, your net total lease cost is likely to be significantly higher on vehicles that hold their value well... like a 392 wrangler.

 

[Rm.perez97]

The numbers change based on how it’s configured.

So would just build one using this to figure out your invoice price:
https://www.jlwranglerforums.com/fo...ve-pricing-spreadsheet-for-2022-jl-jlu.80961/

Then look here for a dealer selling it well below invoice (not just a bit below MSRP):
https://www.jlwranglerforums.com/forum/threads/dealers-below-invoice-on-2022-wranglers.80479/

or to make it even easier someone just posted this a couple of days ago:

then as someone above said -use a website to calc the lease payment. once the sales price is fixed, each bank has a fixed residual and the dealer can only monkey around with the money factor / interest rate and dealer fees.

don’t overlook asking for other banks eg USBank vs Crysler Capitol as they surprised me with a very low interest rate with similar residual. When they were running lease scenarios for me, US Banks interest rate was like 0.98%, we’ll below what you could traditional financing for.

YMMV on all of this, so encourage you to get and run your numbers - but to directly answer your question - $700/mth before state taxes, through Chapman PA

Thank you for the information I appreciate it! I have some homework to do.

 

[dalema]

Usbank charges market rate on 3rd party buyouts and tends to inflate the residual value limiting your ability to effectively buy out the lease yourself. So while your monthly lease cost will be lower, you're removing any opportunity to recapture equity at lease end. As a result, your net total lease cost is likely to be significantly higher on vehicles that hold their value well... like a 392 wrangler.

I haven’t been down that path myself - but fair point. However, my understanding is you can still buy it at the end for the residual value if you want to keep it (but would have to pay taxes if you were in a state where you haven’t already up front).

Depending on your state you could also buy it yourself and then resell it without paying the state tax. Maybe harder, but not limiting.

This could be the direction many early buy outs are heading (ie making it harder) as I see Vroom is now saying they won’t buy off lease.

then again, maybe you just want to drive a 392 for $700/mth - haha

 

[mllcb42]

However, my understanding is you can still buy it at the end for the residual value if you want to keep it (but would have to pay taxes if you were in a state where you haven’t already up front

Yes, you can, but us bank inflates their residual values, so you'd be paying a much higher residual value amount.

Ally plays the same game. You usually end up with a higher residual value coupled with a higher money factor, so more of your lease payment is going to rent charge than depreciation and if you want to keep it at the end, you have to pay a lot more out of pocket to buy it.

 

[mllcb42]

Vroom is now saying they won’t buy off lease.

Vroom won't buy any leases any more, but there are dozens of other companies that will.

 

[dalema]

Yes, you can, but us bank inflates their residual values, so you'd be paying a much higher residual value amount.

Ally plays the same game. You usually end up with a higher residual value coupled with a higher money factor, so more of your lease payment is going to rent charge than depreciation and if you want to keep it at the end, you have to pay a lot more out of pocket to buy it.

It depends on what your goal is. If you just want a lower payment for 3 or 4 years, then a high residual is great.

Having said that if you look at what I said - I said I was surprised as CCAP actually had a higher residual and MF. You made me go back and look:

• US Bank - MF 0.00035, 59% residual
• CCAP was in fact higher at at 60% residual and MF .00195

Try and tell me that wouldn't surprise you, it surprised me based on what I've seen historically. And with that tiny amount of interest charge, your really just paying the difference in residual over time vs at the end.

My point was - it pays to check, not just assume something (and understand how it calculates to figure out what's best for your situation)

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