Question about new lease: Is residual value/money factor “locked in” when I order my vehicle?

Plasterboard

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Dryw
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I’m going on in to order my JLR tommorow and wanted to know - is the RV and MF “locked in” at that time? Or can it change between tommorow after I order/sign my lease and when I get delivery? (At some point between 6-12 weeks). I tried finding this on search and google but I had a very hard time. My concern is that because it is July if I don’t get delivery until October/November it will be rough if the RV were to change. My credit is 811 FICO And 766~ on the 3 bureaus (I don’t know why FICO is so much higher) so I expect MF to not change st all.

Also - I had a hard time finding residual value for a 2 door rubicon soft top, 2018. I found a chart by another member here and it said the value should be 62% for a 4yr/10k lease. It was 58% but I got +4 points for those terms. Is that still the going RV?

Thanks all!
 

FishyGuy

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I’m going on in to order my JLR tommorow and wanted to know - is the RV and MF “locked in” at that time? Or can it change between tommorow after I order/sign my lease and when I get delivery? (At some point between 6-12 weeks). I tried finding this on search and google but I had a very hard time. My concern is that because it is July if I don’t get delivery until October/November it will be rough if the RV were to change. My credit is 811 FICO And 766~ on the 3 bureaus (I don’t know why FICO is so much higher) so I expect MF to not change st all.

Also - I had a hard time finding residual value for a 2 door rubicon soft top, 2018. I found a chart by another member here and it said the value should be 62% for a 4yr/10k lease. It was 58% but I got +4 points for those terms. Is that still the going RV?

Thanks all!
Unfortunately, with FCA/Jeep, RV and MF are based on current rates as of delivery. This is true for most manufacturers, the only exception to my knowledge is BMW, which allows for RV and MF lock at time of order.

Sorry I can’t help you on current RV, but your selling dealer should be able to provide it to you. RV will also vary by bank (CCAP or US Bank being the most common, are often different by a couple percent).
 

Boston Mike

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I’m going on in to order my JLR tommorow and wanted to know - is the RV and MF “locked in” at that time? Or can it change between tommorow after I order/sign my lease and when I get delivery? (At some point between 6-12 weeks). I tried finding this on search and google but I had a very hard time. My concern is that because it is July if I don’t get delivery until October/November it will be rough if the RV were to change. My credit is 811 FICO And 766~ on the 3 bureaus (I don’t know why FICO is so much higher) so I expect MF to not change st all.

Also - I had a hard time finding residual value for a 2 door rubicon soft top, 2018. I found a chart by another member here and it said the value should be 62% for a 4yr/10k lease. It was 58% but I got +4 points for those terms. Is that still the going RV?

Thanks all!
MF and residual value will vary by bank. I check on the Edmunds forums..............they seem to be pretty good with the manufacturer info. I'm working on a 48/15 lease on a JLUR. RV should be 62% on 48/15 (dealer also quoted me Ally with an RV of 69% but their MF was based on an 11% APR lol). Standard money factor is for WRanglers and seems that while no one has the actual numbers, it is around 0.002 (I'd say around a 5% APR). Typically, the 3rd party banks will have a higher RV and a higher MF. I think the dealers get paid more from 3rd party, so they push those.
 

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MF and residual value will vary by bank. I check on the Edmunds forums..............they seem to be pretty good with the manufacturer info. I'm working on a 48/15 lease on a JLUR. RV should be 62% on 48/15 (dealer also quoted me Ally with an RV of 69% but their MF was based on an 11% APR lol). Standard money factor is for WRanglers and seems that while no one has the actual numbers, it is around 0.002 (I'd say around a 5% APR). Typically, the 3rd party banks will have a higher RV and a higher MF. I think the dealers get paid more from 3rd party, so they push those.
I agree with this approach. Use Chrysler as a baseline because the money factors and residuals are much easier to get access to.

But I have found that USBank has similar residuals and lower money factors at least in my case. Actually even their residual was better for a manual transmission.

I am also not a fan of the way Ally structures their leases for the reasons you mention.

The dealer will default to whoever is giving them a better kick-back or just habit so force them to check all their banks.

And if you are not Tier 1 credit this is even more important.
 
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