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  #13  
Old 01-04-2017, 06:08 AM
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Re: Lease offers on '17 GC

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Originally Posted by GCOverland View Post
What I also like about Chrysler Capital is that it's easy to get out of the lease once you have equity (some banks always require the payment of the remaining payments plus the contractual residual - like Ford Financial does).



In addition, I can pay my monthly lease with my credit card which gives me another 1.5% off.


You pay the lease with a credit card? Do they charge you a fee?

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  #14  
Old 01-04-2017, 09:48 AM
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Re: Lease offers on '17 GC

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Originally Posted by rszwestko View Post
You pay the lease with a credit card? Do they charge you a fee?
The fee is $2.75 but on my monthly lease of $782.41, I get about $11.75 cash back.
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Old 01-04-2017, 10:15 AM
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Re: Lease offers on '17 GC

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Originally Posted by GCOverland View Post
The fee is $2.75 but on my monthly lease of $782.41, I get about $11.75 cash back.
Freedom Unlimited? Nice call.

I put a $2K (max allowed) down payment on mine. Made $30.
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  #16  
Old 01-04-2017, 10:44 AM
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Re: Lease offers on '17 GC

Yes Chrysler capital was good with that.

Paid my whole finance contract of my 2015 with my Amex.


Went with them again to pay off the Hellcat although I only financed 12k after trade in of the WK2 just for the points.


You allow me to do that, I will abuse the system to get my points damnit!
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  #17  
Old 01-04-2017, 11:12 AM
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Re: Lease offers on '17 GC

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Originally Posted by onlyina View Post
who is the lease with? FCA, ALLY? What kind of rebates did you receive? What was your cap cost? What was the discount to MSRP? Thx!
My lease is with US Bank. I would need to look at my contract for the rest of the discounts/info....if they are even listed.
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  #18  
Old 01-04-2017, 11:26 AM
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Re: Lease offers on '17 GC

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Originally Posted by Robert Palmer View Post
You allow me to do that, I will abuse the system to get my points damnit!
Yup, THAT'S the spirit!
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Old 01-04-2017, 11:38 AM
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Re: Lease offers on '17 GC

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Originally Posted by GCOverland View Post
The fee is $2.75 but on my monthly lease of $782.41, I get about $11.75 cash back.
That is really good, never seen a finance company allow a lease on a CC for that little fee, usually they charge a heft fee. If i could put a lease on the card I would rack up more points on my JetBlue card.
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  #20  
Old 01-08-2017, 11:46 AM
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Re: Lease offers on '17 GC

Hey All,

Anyone else have recent numbers on '17 leases? My '14 is up in six months and I'm starting the process again. Thanks!
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Old 01-08-2017, 12:13 PM
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Re: Lease offers on '17 GC

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  #22  
Old 01-08-2017, 11:00 PM
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Re: Lease offers on '17 GC

The Edmunds forums have guys who can telll you exact numbers. https://forums.edmunds.com/discussio...-questions/p10

For North Carolina (not sure if it varies by state), 36 month 15k miles:

Limited 4x4 .00006 and 55% resdiual
Overland 4x4 .00007 and 54%
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Old 01-14-2017, 08:19 AM
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Re: Lease offers on '17 GC

This is an interesting thread, leasing might be a good option for me but I'm not sure I understand how the math works.......residual of 55% means based on total price thats what you would have to pay to buy the vehicle after the lease is up? I am in NC as well.
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Old 01-14-2017, 09:08 AM
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Re: Lease offers on '17 GC

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Originally Posted by escapethematrix View Post
This is an interesting thread, leasing might be a good option for me but I'm not sure I understand how the math works.......residual of 55% means based on total price thats what you would have to pay to buy the vehicle after the lease is up? I am in NC as well.
A lease is actually remarkably easy to understand if rthey dealer gives you the numbers you need to figure out if you're getting a good deal or getting screwed. Knowing the money factor and residual are key. Here's a quick explainer:

Sticker price
Selling price/cap cost
Money factor
Residual
Lease term. We'll use 36 months here.

To roughly get how much you should be paying, you need all those numbers.

So - calculate the residual value by multiplying the sticker price by the residual. In this case, for simplicity, let's use 55% and a sticker price of 50k.

So the residual value is 27.5k

Now we need to figure out the selling price and cap cost. Negotiate the lease like you would a cash deal. This is VERY important. So, say you're a good negotiator and you get the selling price to be $42k. To get cap cost, add any fees like documentation, tags, payoff for previous loan. Let's say you've got $1k total in those fees. So cap cost is $43k

Money factor is essentially your interest rate. In fact, you can use the money factor to decide if leasing for a few years even if you plan on buying the car is a good idea (that's my case). Right now, in NC, Chrysler Capital is offering .00007 as the money factor. To figure out what that interest rate is, multiply the MF by 2400. That MF is 0.17% interest. That's right. Nearly zero.

With a lease, you pay the difference between the cap cost and the residual value over the x months of your lease term. In our example, your pay a total of 15.5k at .17% interest divided by 36.

That means your lease payment should be roughly $450/month.

Now, why would the residual and MF be important for you to know? Because if you go with a different bank you might have a higher residual value and higher MF.

You would get nearly the same monthly payment if your residual were at 64% and the MF at .002. That might not matter to you. But if you need to buy out the car or would like to, you're going to get hosed. Or say you want to trade it in - your equity will be far lower.

Dealers can negotiate on selling price, obviously. But they also will often pad the MF. That's why they are reluctant to show you the numbers and it's hard to get a straight answer from them about these things.

Dealers know that if you lease, you might want to lease again. You might want to get out of your lease early in which case the residual value is super important.

Don't get screwed.
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