JL Lease info.

airesucs

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That rate doesn't make sense. Is it a money factor or an interest rate? Let me know and i can give you some feedback.

On the surface i would say your residual is too high and your payment is also too high. Not a good combination.
Dealer said the MF is .00385.

I was just pulling numbers off the lease sheet they gave me. Not sure what the rate number is then.

Thanks.





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Karl_in_Chicago

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Dealer said the MF is .00385.

I was just pulling numbers off the lease sheet they gave me. Not sure what the rate number is then.

Thanks.
Ouch!
 

Jcaron9gt4

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I just got back from the dealer, wanted to test drive the 6 speed they had (loved it). They didn't have the options I wanted so didn't want to get it, but still wanted to test out their leasing numbers. They came back at a MF of .00131, lowest I think I've ever seen on these. Residual was 74 for 39 months 10k on a sport s.
 

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Dealer said the MF is .00385.

I was just pulling numbers off the lease sheet they gave me. Not sure what the rate number is then.

Thanks.
That is horrible. Equivalent to over 9% interest rate. That's why your payment is so high even with a high residual. That is a very bad lease deal.
 

ThirtyOne

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I just got back from the dealer, wanted to test drive the 6 speed they had (loved it). They didn't have the options I wanted so didn't want to get it, but still wanted to test out their leasing numbers. They came back at a MF of .00131, lowest I think I've ever seen on these. Residual was 74 for 39 months 10k on a sport s.
Sounds like you know it that is a very good lease deal for a wrangler.

Sucks for those of us who want a manual. It will be hard to get one off the lot.

Lease programs change monthly so they don't go well with factory orders you have to take a little chance.
 

ThirtyOne

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I am sure you have heard this before but putting money down on a lease is never a good idea!
I've heard it lots of times. I'd be interested to hear why you think that's true.
 

Jcaron9gt4

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Sounds like you know it that is a very good lease deal for a wrangler.

Sucks for those of us who want a manual. It will be hard to get one off the lot.

Lease programs change monthly so they don't go well with factory orders you have to take a little chance.
I actually was willing to get this one, all it was missing was the cold weather group, something I could live without. Unfortunately they were about 4k short of what I wanted for my trade! I was surprised at the lease numbers they had though...
 

airesucs

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That is horrible. Equivalent to over 9% interest rate. That's why your payment is so high even with a high residual. That is a very bad lease deal.
Yeah, that is insane. Not sure what the hell math they're doing. My credit is over 750 so I need to shop around a bit more. I'm trying to get the deal like that guy in Queens or that .00135 MF.

Will keep you guys posted. Appreciate the input.
 

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Yeah, that is insane. Not sure what the hell math they're doing. My credit is over 750 so I need to shop around a bit more. I'm trying to get the deal like that guy in Queens or that .00135 MF.

Will keep you guys posted. Appreciate the input.
They do it because people don't understand leases and they just compare the monthly payment to a loan and it sounds pretty good.

If you like the vehicle just call them on it and tell them what you are looking for in a lease just like you do with the sales price. Once they see they can't snow you they may come back with something reasonable.
 
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maccabiNYC

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That sounds like a really good deal.
Im getting 39mo/15k Sahara with 5k down for $380 a month on 0.00196 residual and 63% residual. Is this good a good deal? MSRP- 45,680. Agreed price- $41,700
@ThirtyOne is the guy to follow on these forums re lease payments. I read his posts and was really prepared when I spoke to dealers. Thank again thirtyone!

But I don't see any reason to put any money down at all on a lease. 1st month and DMV only. The new JL's have a high RV and low MF so while that should help get your payments down, you'll end up paying for it if/when you want to buy your lease out at the end.
 

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@ThirtyOne is the guy to follow on these forums re lease payments. I read his posts and was really prepared when I spoke to dealers. Thank again thirtyone!

But I don't see any reason to put any money down at all on a lease. 1st month and DMV only. The new JL's have a high RV and low MF so while that should help get your payments down, you'll end up paying for it if/when you want to buy your lease out at the end.
For the most part it's a pure prepay though there is a slight benefit to putting money down.

It lowers your payments but you spend almost the same money at the end. Honestly most people sack money away for a car and use it to lower the payments. no reason you can't do that on a lease. It is just much less beneficial than it would be on a loan.

For example, putting $3,600 down on a 36 month lease is obviously going to save you around $100 per month. At the end of the lease your total out of pocket and residual will be about the same. Maybe you will be ahead a couple hundred bucks.

I don't really see the harm in that. But let's say you have $3,600 sitting on credit cards at 21% interest. You should use the money to pay off the credit cards instead.

I've never really understood the reflexive reaction against putting money down on a lease. I am open to it but Im still not seeing the big negative. Do the math and decide for yourself.
 

Jcaron9gt4

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For the most part it's a pure prepay though there is a slight benefit to putting money down.

It lowers your payments but you spend almost the same money at the end. Honestly most people sack money away for a car and use it to lower the payments. no reason you can't do that on a lease. It is just much less beneficial than it would be on a loan.

For example, putting $3,600 down on a 36 month lease is obviously going to save you around $100 per month. At the end of the lease your total out of pocket and residual will be about the same. Maybe you will be ahead a couple hundred bucks.

I don't really see the harm in that. But let's say you have $3,600 sitting on credit cards at 21% interest. You should use the money to pay off the credit cards instead.

I've never really understood the reflexive reaction against putting money down on a lease. I am open to it but Im still not seeing the big negative. Do the math and decide for yourself.
I think most people have the misconception that should you total your car, your insurance will only pay out what's left on the lease. Which is completely false, they will give you market value - same as if you owned the car or financed it.
 

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I think most people have the misconception that should you total your car, your insurance will only pay out what's left on the lease. Which is completely false, they will give you market value - same as if you owned the car or financed it.
Right. I know that argument. Ive run through that scenario and i cant really make much sense out of it. There are actually more negative scenarios with a loan but people recommend putting as much down as you can on a loan.

I'm not saying it never makes sense. I just think that leases are complicated so these things become conventional wisdom without people actually thinking through each scenario. Unlike loans every lease scenario is different. Very few things can be generalized.
 

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Right. I know that argument. Ive run through that scenario and i cant really make much sense out of it. There are actually more negative scenarios with a loan but people recommend putting as much down as you can on a loan.

I'm not saying it never makes sense. I just think that leases are complicated so these things become conventional wisdom without people actually thinking through each scenario. Unlike loans every lease scenario is different. Very few things can be generalized.
Most people are negative about leases in general. Generally cars don't appreciate, so you don't want to own them if there are other options. Figure out how to drive the car with the smallest amount out of your pocket. I try and lease now when the numbers make sense. I messed up a car on the track pretty good. Nice thing about it, I just fixed it and turned it in. I would have lost a ton on the accident on the car fax...
 

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im curious of the leasing numbers anyone is getting for jlu rubicon ? i read through seeing sahara and sport models but not rubicon unless i overread it. i plan to put money down on rubicon but also i plan to buy out the lease afterwards. any advice on that as well ?
 

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