Lease Money Factor for Feb

Specter491

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This was at the dealership. Originally they had said .00130, however my math calculates at it roughly .00161
If your math is giving you a way different number, you should say something. Those money factors come out to interest rates of 3.1% and 3.8%, pretty different.
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iki4life

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I just signed a lease today

MSRP-$45,680
Invoice- $43,212
Agreed Price- $41,500 (4% below invoice)
$5k down
39 Months/15k Miles
$412 per month all invlusive
Money Factor- 0.00196 (Members 1st Credit Union) used by the dealership
Residual Value-63%
Buyout at the end of lease- $28,778
 
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ThirtyOne

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I just signed a lease today

MSRP-$45,680
Invoice- $43,212
Agreed Price- $41,500 (4% below invoice)
$5k down
39 Months/15k Miles
Money Factor- 0.00196 (Members 1st Credit Union) used by the dealership
Residual Value-63%
Buyout at the end of lease- $28,778
Looks good. Congratulations!
 

Specter491

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Is the money factor not standard across all dealers??
 

aug0211

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Is the money factor not standard across all dealers??
Dealers may use Chrysler Capital for the lease, or they may shop it through other banks/credit unions. They should tell you if you ask up front.

I believe the standard MF for tier 1 through Chrysler Capital is currently something like .00196. I was quoted .00164 - I believe this number came from Ally and also from Telhio (not 100% sure since it's the dealer who provided it to me).

It is updated each month.
 

aug0211

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Here's a current deal I'm looking at for a JL Sahara (have not yet signed but I figure it's worth sharing):

MSRP $52,325.00
Sale Price $46,672.00
Money Factor 0.00164
Term 36
Residual 67%
Total Fees $1,228.50
Acquisition Fee $945
Doc Fee $250.00
Tags & Plates $33.50
Tax Rate 7%

Monthly Payment: 527.29 with $0 down (first payment due at signing)

I've got a nice little Excel spreadsheet calculator, if anyone would like to use it (attached). Just plug in your numbers and it will spit out your monthly payment. I'm not a banker, I don't work for anyone who offers an actual lease, and my background is not in finance. There's no guarantee that this will be right, I just followed the formula I found on Edmunds and plugged in my numbers. It happened to match what my dealer had come up with, as well. If you find something off, please report it and I'll look in to it :)

I'm using it to play with my down payment to see how much I'm willing to put down to get a monthly payment I like. I originally created it because the online calculators were not matching the dealer quote, and we couldn't align on why that was. I finally got the formula for lease calculation (Edmunds has a great page on it), and put the formula into a spreadsheet last night. I'll use this to compare offers while I shop.
 

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Specter491

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Dan
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'18 Wranlger JL Sport S
Here's a current deal I'm looking at for a JL Sahara (have not yet signed but I figure it's worth sharing):

MSRP $52,325.00
Sale Price $46,672.00
Money Factor 0.00164
Term 36
Residual 67%
Total Fees $1,228.50
Acquisition Fee $945
Doc Fee $250.00
Tags & Plates $33.50
Tax Rate 7%

Monthly Payment: 527.29 with $0 down (first payment due at signing)

I've got a nice little Excel spreadsheet calculator, if anyone would like to use it (attached). Just plug in your numbers and it will spit out your monthly payment. I'm not a banker, I don't work for anyone who offers an actual lease, and my background is not in finance. There's no guarantee that this will be right, I just followed the formula I found on Edmunds and plugged in my numbers. It happened to match what my dealer had come up with, as well. If you find something off, please report it and I'll look in to it :)

I'm using it to play with my down payment to see how much I'm willing to put down to get a monthly payment I like. I originally created it because the online calculators were not matching the dealer quote, and we couldn't align on why that was. I finally got the formula for lease calculation (Edmunds has a great page on it), and put the formula into a spreadsheet last night. I'll use this to compare offers while I shop.
That acquisition feed seems high. Most places around me are $495-695. And that's a pretty good residual, I thought it was closer to 64%
 

aug0211

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That acquisition feed seems high. Most places around me are $495-695. And that's a pretty good residual, I thought it was closer to 64%
Yes, the acq. fee is higher than usual. Ally was around $750 IIRC and did not include GAP. I believe the $945 is through Telhio and includes GAP. The RV is standard for 10k miles on a JLU Sahara at 36 months.

Are you seeing better than .00164 with GAP at the more standard acq. fee levels? If so, that's ideal - otherwise, I suspect (we could run numbers to confirm) that the ~$200 is worth it for GAP and the reduced MF.

EDITED to add: I've never done a lease, so this is all new to me. Tons for me to learn so lay it on me!
 

Specter491

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GAP is super worth it. If your Jeep is totaled/stolen, you can basically wash your hands. The Edmunds forums were quoting .0019-.0023 for MF so yours seems pretty good. I'm not a lease expert myself so can't give much input.
 

aug0211

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GAP is super worth it. If your Jeep is totaled/stolen, you can basically wash your hands. The Edmunds forums were quoting .0019-.0023 for MF so yours seems pretty good. I'm not a lease expert myself so can't give much input.
Haha yes - I'm on that same forum, in the same thread (same user name). I think the MF is good.

I just ran a simulation to update the MF to .0019 and the acq. fee to $550 (I think that was in the ballpark of what I saw on Edmunds - something about it being $750 through ChrysCap but there being a discount available somehow to get 200 off that). The money payment for that simulation comes out to $537.83.

I assume that would include GAP (not positive, though).

So - it's close, but the higher acq. fee with better MF wins by a couple dollars/month in this case.
 

Specter491

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Haha yes - I'm on that same forum, in the same thread (same user name). I think the MF is good.

I just ran a simulation to update the MF to .0019 and the acq. fee to $550 (I think that was in the ballpark of what I saw on Edmunds - something about it being $750 through ChrysCap but there being a discount available somehow to get 200 off that). The money payment for that simulation comes out to $537.83.

I assume that would include GAP (not positive, though).

So - it's close, but the higher acq. fee with better MF wins by a couple dollars/month in this case.
Ask why the acquisition fee is higher, maybe they'll knock it back down for you
 

ThirtyOne

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Ask why the acquisition fee is higher, maybe they'll knock it back down for you
Different leasing banks have different acquisition fees. Generally not negotiable.
 

aug0211

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Oh, thought it was higher than another dealer with the same bank
Higher fee than another CU. The lower fee did not include GAP.

Just got quoted .00215 with $695 acq fee through US Bank. Residual was 68%, but cost was definitely not attractive due to the MF.
 
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