SoCal JLUR lease deal

[andwew]

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!

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[jtp]

That looks pretty good for a loaded Rubicon.

 

[andwew]

Thank you. Anyone else have some input? Thanks guys! Just looking for validation :cwl:

 

[kacper244]

MF of .00266 is really high, about 6.38% APR. One dealer that I spoke with offered .00166 which is 3.98% APR, but it was through a bank that I have never heard off. Ask your dealer if they can look at different banks and see if they can get the MF down to at least .0022.

 

[ThirtyOne]

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.

 

[jtp]

That looks pretty good for a loaded Rubicon.

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)

 

[ThirtyOne]

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)

Everyone says don't put money down on a lease but ive never understood why. Can you explain. Thanks!

 

[Merlin28]

I have everything u have with safety and cold weather doing a 4 year with 12k a year 3k down 500’a month

 

[jtp]

Because the beauty of leasing is walking out the door with a $50,000 Jeep and only laying $500 to $700 depending on what you negotiate.

 

[ThirtyOne]

Because the beauty of leasing is walking out the door with a $50,000 Jeep and only laying $500 to $700 depending on what you negotiate.

Ok. But money down on a lease is basically a prepay and it does save you some interest especially with a high money factor. Actually makes more sense than a loan where the interest rate is only 2.4%.

So no harm really if our have the money to put down. I wouldn't put more than $3,000-$5,000 but i don't see the harm in it.

 

[andwew]

Thanks guys!
This helps me a ton.

I know what I must do now. I'll talk to the dealership tomorrow

 

[56nomad56]

Seems kinda high. Can you get in under the 10K miles/year? If so of course that would be the better deal.

In 2011 my 335is convertible was zero down and $600/mo, including TTL (in So Cal). That was for a $62K car, 12K miles/year. If you amortize the down payment over 36 months your "true" monthly cost over 36 months is $654/mo. Assuming your $5K deposit includes first month and TTL, and your quoted monthly payments also include TTL.

 

[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!

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

 

[ERIXJLUR]

I’m trying to understand why you wouldn’t just buy the Jeep with $5K down and not be locked into a lease. Payment wouldn’t be THAT much higher.

Keep in mind that you’re putting down 5K and 530/mo x 36 totals over 24K.

Methinks that the Jeep isn’t going to depreciate 24K in 3 years.

 

[BaldEagle]

I’m trying to understand why you wouldn’t just buy the Jeep with $5K down and not be locked into a lease. Payment wouldn’t be THAT much higher.

Keep in mind that you’re putting down 5K and 530/mo x 36 totals over 24K.

Methinks that the Jeep isn’t going to depreciate 24K in 3 years.

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