SoCal JLUR lease deal

[BaldEagle]

5k is 150 a month your paying around 550 over 36 months if it’s 39 it’s more keep money in pocket or do only 2000 drive off .

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[BaldEagle]

Hello everyone!
I factory ordered my first ever Jeep. I got a Rubicon fully loaded minus the safety package and cold weather group.

It arrived last week and I've had a bit of back and forth with the dealership. I decided to lease. I'd like to keep my money in my pocket for the most part and see what happens after 36 months. I live in Los Angeles and I feel like we're always paying a premium out here.

So here's the lease deal I'm offered:
Price: $49,591.00
MSRP: $53,300
MF: .00266
Residual: .69
36 Months
15k Miles
5k cash payment
$530.02 per month

or

Price: $49,591.00
MSRP: $53,300
MF: .00266
Residual: .72
36 Months
10k Miles
5k cash payment
$484.67 per month

Just a difference in miles. I'm aware that the MF sucks. I have good credit - I believe around 740, but the dealer refuses to budge on both the MF and Price.

It's a take it or leave it at this point.

I really like the Jeep. Test drove today, but the whole haggling for a good deal is just stressing me out. Let me know what you all think! Thanks!

Ask them how much if you put no money down 5k is 150 in payment

 

[BaldEagle]

Ask them how much if you put no money down 5k is 150 in payment

Love the black struggling between black s Granite Cyristal Gray

 

[xray]

Leases are always a great deal (in some sense) on potentially depreciating cars like BMW, Mercedes, anything domestic.
For something like a 4runner, or Jeep the they know that they can screw with you a bit on the MF and make you pay more in the effective interest rate.

Cap reduction (aka paying money down). Just don't it. If you can't afford the payment and the interest is too high, then find another dealer or deal unless you really, really want something and are willing to pay for it.

If you're going to ditch the Jeep, the dealer wins three ways in this case: 1) they have your cash (doesn't really help them though, just less in your bank) 2) high MF + Price 3)the high resale value for THEM when you return it.

Interest rates are 2.99 through a decent credit union for 72mo, 0 down.

 

[BaldEagle]

Put half the money down too much down only put money down if it’s a finance

Thank you

 

[BaldEagle]

Put half the money down too much down only put money down if it’s a finance

Where is the dealer also how long was the Waite for factory orde

 

[BaldEagle]

I want to take back what I said, first never put down money on a lease. If you can't afford the payment with zero down you might as well use it for a down payment.and buy it. I ask my dealer for a lease quote. I don't thinks the MF is good.

Monthly payment: $679.48
Term 39 Months
Annual miles: 12,000
MSRP: $52,550
Sale Price: $46,951.85
Residual: 70%
Residual Value: $36,785
Lease Buyout: $36,785
Zero Down Payment
Sales tax 6%
Money factor 9.75% Ally (seems way high)

This payment is too high

 

[BaldEagle]

This payment is too high

This payment should be 550-580

 

[BaldEagle]

Taxes in California are high which makes it hard to get the payment down. That money factor is ridiculous.

If these are really your only choices i would go with the lower payment. If you go over on miles you can buy it out and sell it and still be ahead. It should be worth close to 80% after 3 years if resale is like other Wranglers.

The difference in payment is about $1650 over the course of the lease.

How is the Rubie doing how is it running any problems

 

[jhonn236_AZ]

So assuming you do a 36 months 10k miles per year - and you end up putting 36,000 at the end of the lease - Can you still buy it? Do you get penalized for the +6,000mi even though you're buying it?

In other words - if I know (for fact) that I am going to buy it at the end of the lease - why going with 12,000? go the lowest, get the cheaper monthly payment, then buy it at the end.

If you do get penalized regardless, then my logic is incorrect.

Also - Does the residual value change depending on your miles per year??? SO many variables

 

[ThirtyOne]

So assuming you do a 36 months 10k miles per year - and you end up putting 36,000 at the end of the lease - Can you still buy it? Do you get penalized for the +6,000mi even though you're buying it?

In other words - if I know (for fact) that I am going to buy it at the end of the lease - why going with 12,000? go the lowest, get the cheaper monthly payment, then buy it at the end.

If you do get penalized regardless, then my logic is incorrect.

Also - Does the residual value change depending on your miles per year??? SO many variables

Really good questions. When you buy it out you do not pay the mileage fee. I have done exactly this (not saying it was a good situation but better than paying the fee).

Keep in mind that the lower payment comes with the highest residual. And if you go over on miles in theory the value of your Jeep is lower. I6,000 probably not that big a deal on a Jeep with their crazy resale but could be on other cars.

Standard disclaimer - On the Wrangler the buy-out is generally financially very bad because of the high residual. You are several years in and you are left with a high residual to finance. Do the math yourself but it generally doesn't work out well.

However, because Jeeps generally resell well you can buy it out with a loan and then turn around and sell it and generally pick up some profit or at lease be break even without paying the mileage fees. But this is risky if you get in an accident and diminish the value.

I do recommend people look closely at the residual at different miles. I looked at 1 deal and 12,000 miles was a bad deal - the difference in payment was much more than the difference in residual value.

 

[jhonn236_AZ]

R
Standard disclaimer - On the Wrangler the buy-out is generally financially very bad because of the high residual. You are several years in and you are left with a high residual to finance. Do the math yourself but it generally doesn't work out well.

However, because Jeeps generally resell well you can buy it out with a loan and then turn around and sell it and generally pick up some profit or at lease be break even without paying the mileage fees. But this is risky if you get in an accident and diminish the value.

Thanks!

This is interesting - in other threads you have a calculation over 8 years and the difference in $$ is not very much, but here you are saying it doesn't work out well?

Not trying to be a jerk at all... I'm just confused. Lol.

 

[ThirtyOne]

Thanks!

This is interesting - in other threads you have a calculation over 8 years and the difference in $$ is not very much, but here you are saying it doesn't work out well?

Not trying to be a jerk at all... I'm just confused. Lol.

Well, what I said is don't just believe the conventional wisdom. Do the math and decide for yourself. And I gave an example where if you figured in all the costs including maintenance and repairs, etc then in that example it was pretty close.

So yeah do the math for yourself and see. Those posts were before we had real numbers to work with and I think when I have looked at actual scenarios they didn't play out as well. But every deal is different. For example I use NC taxes and we are pretty low at 3%. Another state could play out differently.

But good point. I hate the generalizations and I need to be more disciplined about not doing it.

 

[BaldEagle]

That looks pretty good for a loaded Rubicon.

Looks good except for 5 k down

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