How bad is this deal on new Rubi? Please

[DUNE RAP]

I think it’s a fair deal if he is dead set on leasing...

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[guarnibl]

$0 down $60k MSRP lease 15k a year mileage 48 months was $504/month with taxes.

That's an awful deal but for something on the lot given local market... might not be bad. But still, that's almost $200 a month higher than my payment was, I put no money down, and my sticker was $7k higher. Sounds like residuals may have gone down, too.

 

[JSFoster75]

You aren't buying a brand new Rubicon through financing for $600 a month with 2K down especially in todays mark. You've got to put down a lot hence why he's going the leasing route. I don't like leases as well and that's a lot of money to be paying for what will most likely never be yours to own. If he can't afford it then look for a lower trim, something like a Jeep Willys more in his price range. Not everyone needs or can afford a Rubicon and that's ok.

I never thought I could afford a basic Rubi, much less 2 of them loaded. After seeing the prices of Jeeps lately, we traded both our Sahara's in for Rubi's and our payment is basically the same. (We had some equity in each Jeep after driving them for 18 months or so.) #blessed

 

[omega145]

$0 down $60k MSRP lease 15k a year mileage 48 months was $504/month with taxes.

Not common to have a zero down lease. Did you already have other leases you were trading it at that time or prior experience with that dealership? $504 with no down payment sounds off for a 60K MSRP and honestly unrealistic.

 

[guarnibl]

Not common to have a zero down lease. Did you already have other leases you were trading it at that time or prior experience with that dealership? $504 with no down payment sounds off for a 60K MSRP and honestly unrealistic.

Nope.

No previous experience with the dealership.
No trade.

Got 13.5% off MSRP.

Local here in Scottsdale, too. I traded that vehicle in on my Gladiator this past December for more than the selling price.

Just check Jeep.com. Start with the base price, option it to $53k, then hit the payment calculator. Put $0 down, and vary the dealer discounts.

You'll see the payment is not anywhere close to what he's being shown. My lease was IDENTICAL to the Jeep.com numbers -- I worked backwards to ensure the lease paperwork matched appropriately when my vehicle was delivered, and it was -PERFECT-.

$0 discount, no down = $581 + tax
$2500 = $526 + tax
$5000 = $470 + tax
...
etc.

Above numbers assumes no capital cost reduction (i.e., no money down) and all fees/title/registration are paid in cash at time of lease inception.

I went and estimated out at $59,415 according to jeep.com -- assuming 13.5% off -- you're at $510 + tax w/ no money down. So my payment today, would have been a bit higher (~$552 with Scottsdale taxes). My residual looks like it was ~5% higher back then vs today.

 

[GATORB8]

Not common to have a zero down lease. Did you already have other leases you were trading it at that time or prior experience with that dealership? $504 with no down payment sounds off for a 60K MSRP and honestly unrealistic.

It's not advisable to put anything down on a lease, GAP doesn't pay out the customer, so you can lose the down payment if you're in an accident and it's totaled. If I do anything, it's the drive off fees.

 

[wrc777]

It would probably take 6 weeks to order one from Gupton. 4XE is the lease to have right now since the $7500 tax credit comes off the top when you lease.

 

[dgoodhue]

It's not advisable to put anything down on a lease, GAP doesn't pay out the customer, so you can lose the down payment if you're in an accident and it's totaled. If I do anything, it's the drive off fees.

If you do a true $0 lease, the one problem I see is that you get taxed on the fees as well as getting charged MF interest rate. On $2200 of fees, it would have cost me about $300 in fees and taxes. IMO if you don't have the money to pay the fees, you have no business buying or leasing a new car.

It is a little bit of risk to put a down payment on lease, but it is not every day that you total a new $50K, plus as you get closer to the end of the lease the down payment becomes less of factor. For example

A $3600 down payment in a 36 month lease is 3600/36 or $100 month savings. In month 30, you would have already paid $3000 into your lease payment, so you would lose $600 if totaled in month 30. The savings on a 4% interest rate is about $220 over the lease.

 

[guarnibl]

If you do a true $0 lease, the one problem I see is that you get taxed on the fees as well as getting charged MF interest rate. On $2200 of fees, it would have cost me about $300 in fees and taxes. IMO if you don't have the money to pay the fees, you have no business buying or leasing a new car.

It is a little bit of risk to put a down payment on lease, but it is not every day that you total a new $50K, plus as you get closer to the end of the lease the down payment becomes less of factor. For example

A $3600 down payment in a 36 month lease is 3600/36 or $100 month savings. In month 30, you would have already paid $3000 into your lease payment, so you would lose $600 if totaled in month 30. The savings on a 4% interest rate is about $220 over the lease.

Yep, that's fair. It's a risk some are willing to take to save some in interest for sure.

Also, we don't pay taxes on the fees here in AZ, or at least I didn't on my lease. I did have to pay taxes on any cap cost reduction if I chose that route, though. Can't speak for FL.

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