bbradshaw14
Well-Known Member
No - I check every week since November and nothing new. Quotes are all estimates based upon JK. Hoping to see something in Feb!
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Not likely till a day or two.Any updates to the residual and/or money factor today? @JLWF Dealer Guy
Are these current numbers through CCAP for the JK or could these be JL as well? Found them on Edmunds:Not likely till a day or two.
How much was the monthly payment on the lease and down payment if you know?Walked in the dealership today with all intentions of leasing a Jeep but ended up financing instead. They quoted the lease using Ally on a 39 Month 15k mile lease for a Sport S JLU. Pulled over an 830 credit score (they used equifax, really guys), came back with an interest rate of 6.99% (.0029125) and a residual of 78%. Thanks to ThirtyOne and other posts hear i realized that was not what I considered a good deal. At the most I would have done a .0022 money factor and 71% residual as I planned to purchase after the lease. The financing payment was higher that I want to go, but not more than I can afford. YOLO.
Did you mean a 68% residual instead of 78%. 78% would make the monthly payments super cheapWalked in the dealership today with all intentions of leasing a Jeep but ended up financing instead. They quoted the lease using Ally on a 39 Month 15k mile lease for a Sport S JLU. Pulled over an 830 credit score (they used equifax, really guys), came back with an interest rate of 6.99% (.0029125) and a residual of 78%. Thanks to ThirtyOne and other posts hear i realized that was not what I considered a good deal. At the most I would have done a .0022 money factor and 71% residual as I planned to purchase after the lease. The financing payment was higher that I want to go, but not more than I can afford. YOLO.
Yeah but offset by a high money factor. That's what people do - the payment looks good so they don't question the numbers.Did you mean a 68% residual instead of 78%. 78% would make the monthly payments super cheap
Any updates today? Thanks for all the help!Not likely till a day or two.
Not a typo. I was hoping to buy it back at the end of the lease, but not at 78% after 39months of $450ish payments.Did you mean a 68% residual instead of 78%. 78% would make the monthly payments super cheap
10% down, $450ish payment, 39 months, invoice price was 37650 or so.How much was the monthly payment on the lease and down payment if you know?
$450 with 10% down and 78% residual? Something doesn't add up, that's way too high of a payment. Depreciation alone is in the ballpark of $120/month. Even a money factor that high wouldn't bring it to 450/month.10% down, $450ish payment, 39 months, invoice price was 37650 or so.
Looks like still the same as last month.Any updates today? Thanks for all the help!
Not sure what type of wizardry math the dealership were attempting to use but $450 is at minimal $125 higher than the quote should have been with all the inputs/variables you gave us. Invoice of $37650, so we'll assume an MSRP of $41k, you stated 10% down or $3765 (which is not advisable on this lease) at 15k/39mo. MF of .0029125 and RV of 78%....payment would have been much closer to $320.10% down, $450ish payment, 39 months, invoice price was 37650 or so.
Wow you and @ThirtyOne opened my eyes to this shady practice. I’ve leased several BMWs and the money factors and residuals are widely publicized. BMW actually artificially boosts the residual but the money factor is always super low so payments are very reasonable. But at the end of the lease you are upside down. So if you want to buy the car from the lease the dealer has to agree to buy the car from BMW at a good discount usually then sell it to you for a small profit. But most walk away from these leases. Not many want to own a BMW out of warranty anyways. LOLNot a typo. I was hoping to buy it back at the end of the lease, but not at 78% after 39months of $450ish payments.