Good Lease Deal on JL Sahara, First Time Jeep Buyer

nkhaira

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Hello!

I thought I would share my lease deal with you guys as it seems my monthly payment is a bit higher than I expected, not sure if someone could give me some insight. I found a dealer willing to do 5% under invoice with a $300 doc fee.

Jeep JL Sahara Unlimited
MSRP 46310
Invoice 43773
Final Sales Price 41,584

I was quoted 39 months at 585/10k or 595/12k with 0 Down.

Since this is my first Jeep I thought leasing would be a better route to go just to see how it seems to live with it on a daily basis. I seen residuals are usually the worst on the Sahara compared to the Rubi and Sport so that is a downer but since it is a Sunday I did want to ask them about the exact residual, money factor, and other important lease details that I should know?

The lease payment per month just seemed a bit high compared to payments I seen on here, but not sure if that is normal with 0 Down?

Thank You All!





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BlairF

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Sounds a little high, but part of that is the residual on the Sahara. I've been looking at leasing a Sport S JLU, and my quotes for a 36/15 lease are in the high 4's.
 
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nkhaira

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Sounds a little high, but part of that is the residual on the Sahara. I've been looking at leasing a Sport S JLU, and my quotes for a 36/15 lease are in the high 4's.
Do you know any other reason why that might be high?

I would have leased a Sport model too but I really want the 8.4in screen and LEDs
 

BlairF

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Do you know any other reason why that might be high?

I would have leased a Sport model too but I really want the 8.4in screen and LEDs
You need to get the Money factor and residual from your dealer to really work it out.
 

mischman

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Residual is about .66 on a Sahara. They have a horrible value compared to a Sport S or rubicon.

Youre payments are high because of the money factor. The money factor is either high because of your credit score or the dealer is robbing you.
 
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nkhaira

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You need to get the Money factor and residual from your dealer to really work it out.
Okay I will get the money factor and residual from the dealer asap
 
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nkhaira

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Residual is about .66 on a Sahara. They have a horrible value compared to a Sport S or rubicon.

Youre payments are high because of the money factor. The money factor is either high because of your credit score or the dealer is robbing you.
That's odd I ran the credit with excellent credit, I will try to find out what the money factor is.
 
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nkhaira

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You need to get the Money factor and residual from your dealer to really work it out.
Okay the money factor I got back was .00281 and it seems that anything above 2 is high, is there anything I could do about this? Residual was .66 for 10k miles per year and .65 for 12k miles per year
 
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nkhaira

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Residual is about .66 on a Sahara. They have a horrible value compared to a Sport S or rubicon.

Youre payments are high because of the money factor. The money factor is either high because of your credit score or the dealer is robbing you.
Seems like it is the money factor at .00281, seems like anything above 2 is high
Is there anything I could do about this?
 

BlairF

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One reason it is hard to compare lease deals is the taxes are rolled in and they vary so much across states.

For example PA has a 3% lease tax in addition to what I believe is a 6% sales tax.

Your sales price is good and the residual seems in line but your money factor seems high.

I would see if they have other banks - I got a better deal with US Bank than Chrysler. Sometimes they are lazy or they use the bank that gives them a kick-back. Or they are trying to get a margin on the money factor to make up for the low selling price. I would push back.
 
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nkhaira

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One reason it is hard to compare lease deals is the taxes are rolled in and they vary so much across states.

For example PA has a 3% lease tax in addition to what I believe is a 6% sales tax.

Your sales price is good and the residual seems in line but your money factor seems high.

I would see if they have other banks - I got a better deal with US Bank than Chrysler. Sometimes they are lazy or they use the bank that gives them a kick-back. Or they are trying to get a margin on the money factor to make up for the low selling price. I would push back.
Yeah I did remember a manager at another dealership telling me the tax is actually 9%, that's crazy but yeah I asked about the money factor and they said they couldn't do anything about it. I asked if they used any other bank and they did not seem like they could she claimed she could only use Chrysler. Pushback you mean try another bank or?

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LeaN69

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Yeah I did remember a manager at another dealership telling me the tax is actually 9%, that's crazy but yeah I asked about the money factor and they said they couldn't do anything about it. I asked if they used any other bank and they did not seem like they could she claimed she could only use Chrysler. Pushback you mean try another bank or?

Thank You
MF will always be high on a wrangler and that because residual is so good. Because of that leasing a wrangler is always a loser compared to finance.

My suggestion is finance it for 60-72 months. If you want to sell it in 3-4 years you will have equity in it, as opposed to leasing you will walk away with disposition fee.

BTW this comes from a person who used to ALWAYS lease and sold cars in the past. Wrangler is just not a lease vehicle, banks make out big in this case.
 

BlairF

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MF will always be high on a wrangler and that because residual is so good. Because of that leasing a wrangler is always a loser compared to finance.

My suggestion is finance it for 60-72 months. If you want to sell it in 3-4 years you will have equity in it, as opposed to leasing you will walk away with disposition fee.

BTW this comes from a person who used to ALWAYS lease and sold cars in the past. Wrangler is just not a lease vehicle, banks make out big in this case.
Should be the opposite though, because in a lease you are paying for the depreciation, so a good residual SHOULD mean lower payments.
 

LeaN69

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Should be the opposite though, because in a lease you are paying for the depreciation, so a good residual SHOULD mean lower payments.
Logically yes. But go tell that to the banks.

I lease a q50 for my wife $44k MSRP 39/10k $500 total out of pocket $359/mo the car has TERRIBLE residual, but low MF and lots of dealer incentives.

Wrangler is not a mainstream car, you won’t see mainstream deals on it.
 

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