New 2019 Wrangler JLU Sport S (Lease)

[D_JLU19]

Hello All,

Long time jeep lover, first time owner here. So, I been going back and forth on a Jeep for a while and finally pulled the trigger on one. To test the waters, I went in to a lease option on a 2019 Jeep Wrangler JLU Sport S - Looking forward to many good times!

But...

Can anyone confirm if I got a good deal here or was my first lease deal a total bust? I have never done a lease before, did some homework on the process before I headed in - but I am not an expert by any means. So I call upon the Jeep gurus to verify and validate my suspicions.

Info and lease write up:

Tier 1 (High 700's)
MSRP: $42,270 (Talked em down to 40,000)
Wear and Tear Coverage: $699 ($8 extra added to the monthly lease payment)
Gross Capitalized cost: $41,294
Capitalized cost reduction: $1886.76
Adjusted Capitalized cost: $39407
Residual value: $28320
Depreciation Amount: $11086
Rent Charge: $5943
Mileage allotment: 15K

Down Payment: $2500
Lease Payment: $469.00 a month for 36

And there it is - Any info, albeit good or bad, would be most appreciated.

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[ThirtyOne]

What's their doc fee?

 

[ThirtyOne]

Ok. My numbers are not adding up directly to yours but the short answer this is not a good deal.

Mostly because the Gross Capitalized Cost is too high. You should not be paying $40,000 for this Jeep. You should be paying 5% under Invoice or better. I would need to see your window sticker to get an exact amount but it is around $38,500. In my calculator this makes a difference of about $90/month.

Also, ask for the money factor and bank if you want us to evaluate a lease.

As an aside I am not a big fan of wear and tear coverage on Jeeps. First you have to have wear and tear in excess of more than $700 for it to be a good deal. But mostly because it only comes into play if you turn in the Jeep at the end of the lease. If they try and charge you a bunch of wear and tear I would just buy it out and trade it or sell it privately. You should be able to get more than 66% of its value after 3 years.

 

[D_JLU19]

Hello ThirtyOne,

Thank you for the reply. I did accidentally transpose the MSRP as its supposed to be $42,270 not $42,720 I originally posted. I have since edited my original post above. I cherish your valuable information and when I go to re-lease - I will be quite a bit more savvy during the process. I get where your coming from on the the Wear and Tear as I too originally told the finance department no. But being this was my first lease ever, I wanted to ensure if anything happens to the jeep I am covered. Will heed your recommendation for the next time.

Here is the following information you requested:

Dealer Doc Service Fee: Shows N/A in the line item
Bank: Chrysler Capitol
Money Factor: .00225


Window Sticker:

 

[ThirtyOne]

So it looks like your lease (residual/money factor) are standard Chrysler, so nothing bad there.

I think the real issue is the sale price.

Just for reference, 5% below invoice would be $38,683.

Looks like a nice Jeep. Enjoy it!

 

[Teghogh]

I leased my sport back in April for 2k down $185 dollars tax included 42 months 10k per year

 

[D_JLU19]

So it looks like your lease (residual/money factor) are standard Chrysler, so nothing bad there.

I think the real issue is the sale price.

Just for reference, 5% below invoice would be $38,683.

Looks like a nice Jeep. Enjoy it!

Thank you ThirtyOne,

Its refreshing to know I didn't get fully fleesed - So moving forward I will definitely hammer down on the sales price and for-go the dang Wear and Tear coverage for a better deal on the next one.

Just curious, does anything else seem out of the ordinary?

Thank you again for everything ThirtyOne!

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