Lease Price Help

[TeddyWeston]

Is this a good deal?

Getting out of lease on 17 Grand Cherokee Limited 15 months early


2019 JL Wrangler MOAB
MSRP: $54,485
Selling Price: $48,995
Money Factor: .00228
Residual: $33,843
Terms: 48mo/10k
Payment: $649 - $0 down/drive off

Thoughts?

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[nypharm]

Is this a good deal?

Getting out of lease on 17 Grand Cherokee Limited 15 months early


2019 JL Wrangler MOAB
MSRP: $54,485
Selling Price: $48,995
Money Factor: .00228
Residual: $33,843
Terms: 48mo/10k
Payment: $649 - $0 down/drive off

Thoughts?

Try us bank; lease rates are better than Chrysler. Do 36-39 months; not worth it to go for 48 months.

 

[TeddyWeston]

Yea this is through Chrysler Capital, 48 months was done to try to get lower considering they are buying me out of my 39 month lease on the Grand Cherokee 15 months early.

 

[nypharm]

Yea this is through Chrysler Capital, 48 months was done to try to get lower considering they are buying me out of my 39 month lease on the Grand Cherokee 15 months early.

Swap the lease out; do not roll it into new one. They have huge upcharge in order to do that.

 

[Edorand]

Hard to say if it's a good deal or not - sounds like you've got a ton of negative equity from your lease remainder.

 

[guarnibl]

You should be at $496/month for the lease payment including dealer discount, not including tax/title/registration. Assuming your state pays tax on the lease payment itself, assuming ~7% tax rate, you're around $530/month. Now roll in your dealer fees, assuming $1200 -- you're at ~$550/mo. So you're paying about $5k in negative equity with the cherokee trade which is elevating your monthly payment another $100/mo.

Also -- re: other leasing companies -- aren't those open ended leases and not closed ended leases? I.e., they're not leases at all but actually balloon payments where you just have to either refi or trade the vehicle? I.e., if the residuals are worse off than what they estimate for trade value, you are up a creek.

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