Money factor and residual for this month ? - Jeep Garage - Jeep Forum

Go Back   Jeep Garage - Jeep Forum > Jeep Platform Discussion > Grand Cherokee - WK2 -

Join Jeep Garage Today
Reply
 
Thread Tools Display Modes
 
  #1  
Old 12-02-2015, 07:02 AM
Member
My Jeep: 2015 5.7L WK2
 
Join Date: Dec 2015
Location: Long Island
Posts: 243
Thanks: 5
Thanked 34 Times in 28 Posts
Rep Power: 813
EasternLI has a reputation beyond reputeEasternLI has a reputation beyond reputeEasternLI has a reputation beyond reputeEasternLI has a reputation beyond reputeEasternLI has a reputation beyond repute
Money factor and residual for this month ?

Anyone know the December 2015 numbers their using on the Grand Cherokee ?

Reply With Quote
Sponsored Links
Advertisement
 
  #2  
Old 12-02-2015, 08:16 AM
Member
My Jeep: 2015 5.7L WK2
 
Join Date: Jan 2013
Location: Seattle, WA
Posts: 307
Thanks: 3
Thanked 22 Times in 17 Posts
Rep Power: 3499
Copefree has a reputation beyond reputeCopefree has a reputation beyond reputeCopefree has a reputation beyond reputeCopefree has a reputation beyond reputeCopefree has a reputation beyond reputeCopefree has a reputation beyond reputeCopefree has a reputation beyond reputeCopefree has a reputation beyond reputeCopefree has a reputation beyond reputeCopefree has a reputation beyond reputeCopefree has a reputation beyond repute
Re: Money factor and residual for this month ?

It was .000017 last month.

It's BS half the time though and they'll play with it. When I leased my '15 High Altitude last month they dropped the residual from 54% to 49% which I wasn't happy about but they offset it by dropping the MF to .000004.

According to the lease agreement I'm only paying $191 of 'interest' total over 36 months. So $5 per month.
__________________
- Ryan

2015 JGC High Altitude / 5.7L V8 / HK Audio / Billet Silver // Took Delivery 11/13/15

Previous: 2014 Overland / V6 / Advanced Tech / Granite (took delivery 4/10/13)
Reply With Quote
  #3  
Old 12-02-2015, 11:58 AM
Member
My Jeep: 2015 5.7L WK2
 
Join Date: Dec 2015
Location: Long Island
Posts: 243
Thanks: 5
Thanked 34 Times in 28 Posts
Rep Power: 813
EasternLI has a reputation beyond reputeEasternLI has a reputation beyond reputeEasternLI has a reputation beyond reputeEasternLI has a reputation beyond reputeEasternLI has a reputation beyond repute
Re: Money factor and residual for this month ?

The dealer I'm working with just called back and said their using 4.99% apr (money factor .00208) and 52% residual. That money factor seems kinda high but he says that's the best rate their getting with Ally Bank right now
Reply With Quote
  #4  
Old 12-02-2015, 01:45 PM
Member
My Jeep: 2014 3.6L WK2
 
Join Date: Feb 2013
Location: Fresno, CA
Posts: 238
Thanks: 26
Thanked 15 Times in 11 Posts
Rep Power: 1738
adthebadstud is on a distinguished road
Garage
Re: Money factor and residual for this month ?

Ally will have a higher residual and higher money factor. Chrysler financial will have lower of both. I'm comfortable with a lower residual as I will have equity towards the end, and be paying a lot less interest in the meantime.

Also, the MF and Residual typically change the first monday of the month, so last month's should be good until next monday. They also vary between trims.

For the Altitude I just leased (I just got back into a jeep after Chrysler bought back my 14 Overland) the MF and Residual were 0.00002 and 49%, respectively for 3 years 10k miles per year.
__________________
BACK in a Grand Cherokee. 2015 Altitude III. Granite Crystal. Backup Camera and 9 Speakers. Moonroof. Tow Package.

2014 Overland 4x4 V6, Black ext, Black int, Advanced Tech Package. EC169841
Reply With Quote
  #5  
Old 12-02-2015, 04:22 PM
Member
My Jeep: 2015 5.7L WK2
 
Join Date: Jan 2013
Location: Seattle, WA
Posts: 307
Thanks: 3
Thanked 22 Times in 17 Posts
Rep Power: 3499
Copefree has a reputation beyond reputeCopefree has a reputation beyond reputeCopefree has a reputation beyond reputeCopefree has a reputation beyond reputeCopefree has a reputation beyond reputeCopefree has a reputation beyond reputeCopefree has a reputation beyond reputeCopefree has a reputation beyond reputeCopefree has a reputation beyond reputeCopefree has a reputation beyond reputeCopefree has a reputation beyond repute
Re: Money factor and residual for this month ?

I would strongly suggest avoiding Ally leasing. They're a joke. My payoff on my '14 Overland was $29,200 but when I went to trade it in to a dealership the dealership payoff was $34,500. I learned that they charge dealerships fair market value for payoffs. This happened two weeks ago. So I had to do a lease buyout through my credit union so I could then trade it it to the dealership at my normal payout. But I had to pay sales tax of course when I did the buyout so took a small hit there.

Ally can get lost. They're seriously a joke.
__________________
- Ryan

2015 JGC High Altitude / 5.7L V8 / HK Audio / Billet Silver // Took Delivery 11/13/15

Previous: 2014 Overland / V6 / Advanced Tech / Granite (took delivery 4/10/13)
Reply With Quote
  #6  
Old 12-08-2015, 12:56 PM
Member
 
Join Date: Nov 2015
Posts: 10
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 514
Balikpinoy is on a distinguished road
Re: Money factor and residual for this month ?

Quote:
Originally Posted by Copefree View Post
I would strongly suggest avoiding Ally leasing. They're a joke. My payoff on my '14 Overland was $29,200 but when I went to trade it in to a dealership the dealership payoff was $34,500. I learned that they charge dealerships fair market value for payoffs. This happened two weeks ago. So I had to do a lease buyout through my credit union so I could then trade it it to the dealership at my normal payout. But I had to pay sales tax of course when I did the buyout so took a small hit there.

Ally can get lost. They're seriously a joke.
Was this on your lease contract? I just leased via Ally last month and looked at the contract and did not see any language that indicates payoff will be different.
Reply With Quote
  #7  
Old 12-08-2015, 01:05 PM
Member
My Jeep: 2015 5.7L WK2
 
Join Date: Jan 2013
Location: Seattle, WA
Posts: 307
Thanks: 3
Thanked 22 Times in 17 Posts
Rep Power: 3499
Copefree has a reputation beyond reputeCopefree has a reputation beyond reputeCopefree has a reputation beyond reputeCopefree has a reputation beyond reputeCopefree has a reputation beyond reputeCopefree has a reputation beyond reputeCopefree has a reputation beyond reputeCopefree has a reputation beyond reputeCopefree has a reputation beyond reputeCopefree has a reputation beyond reputeCopefree has a reputation beyond repute
Re: Money factor and residual for this month ?

Quote:
Originally Posted by Balikpinoy View Post
Was this on your lease contract? I just leased via Ally last month and looked at the contract and did not see any language that indicates payoff will be different.
It was not.

It's just how they roll. Your payoff will be whatever it is (as it should be) but the dealership payoff will be higher (assuming you have equity in the vehicle).

If your payoff is $30k but the Jeep is worth $35k then the dealership pay off will be $35k. Totally stupid. And it can kill a deal in its tracks.
__________________
- Ryan

2015 JGC High Altitude / 5.7L V8 / HK Audio / Billet Silver // Took Delivery 11/13/15

Previous: 2014 Overland / V6 / Advanced Tech / Granite (took delivery 4/10/13)
Reply With Quote
  #8  
Old 12-08-2015, 01:50 PM
Member
 
Join Date: Nov 2015
Posts: 10
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 514
Balikpinoy is on a distinguished road
Re: Money factor and residual for this month ?

I guess this is common practice by Ally. So buyer beware.

https://www.reddit.com/r/askcarsales...restrict_sr=on

Now, I wonder if my selling dealer is able to waive that fee if they are big enough to raise a stink.
Reply With Quote
  #9  
Old 12-13-2015, 01:54 AM
Member
 
Join Date: Dec 2015
Location: Washington
Posts: 6
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 475
Tashi is on a distinguished road
Re: Money factor and residual for this month ?

I'm currently in talks with a dealer here in the Seattle area for a 2015 Overland with an MSRP of $47,570. Residual is 49% with a money factor of .00007, which I understand is the same as last month.
Reply With Quote
  #10  
Old 12-17-2015, 12:59 PM
New Member
 
Join Date: Dec 2015
Posts: 3
Thanks: 1
Thanked 0 Times in 0 Posts
Rep Power: 0
kplax185 is on a distinguished road
Re: Money factor and residual for this month ?

New to the forum. Lots of good info on here.

I am talking with a dealer in Long Island NY and they are quoting me 40 percent residual for an Altitude with Ally Bank, quote end Jan 4th.

Seems low? Any way to check that with the bank? I mean it will be on the contract so they really cant play to many games since the bank has to approve?

Thoughts?
Reply With Quote
  #11  
Old 12-17-2015, 03:02 PM
Member
My Jeep: 2015 5.7L WK2
 
Join Date: Jan 2013
Location: Seattle, WA
Posts: 307
Thanks: 3
Thanked 22 Times in 17 Posts
Rep Power: 3499
Copefree has a reputation beyond reputeCopefree has a reputation beyond reputeCopefree has a reputation beyond reputeCopefree has a reputation beyond reputeCopefree has a reputation beyond reputeCopefree has a reputation beyond reputeCopefree has a reputation beyond reputeCopefree has a reputation beyond reputeCopefree has a reputation beyond reputeCopefree has a reputation beyond reputeCopefree has a reputation beyond repute
Re: Money factor and residual for this month ?

Quote:
Originally Posted by Balikpinoy View Post
I guess this is common practice by Ally. So buyer beware.

https://www.reddit.com/r/askcarsales...restrict_sr=on

Now, I wonder if my selling dealer is able to waive that fee if they are big enough to raise a stink.
I think they got rid of the $2500 fee. My lease that I talked about above didn't have it.

That's clearly stated on your lease agreement if you have it or not.
__________________
- Ryan

2015 JGC High Altitude / 5.7L V8 / HK Audio / Billet Silver // Took Delivery 11/13/15

Previous: 2014 Overland / V6 / Advanced Tech / Granite (took delivery 4/10/13)
Reply With Quote
  #12  
Old 12-17-2015, 08:42 PM
Member
My Jeep: 2015 5.7L WK2
 
Join Date: Dec 2015
Location: Long Island
Posts: 243
Thanks: 5
Thanked 34 Times in 28 Posts
Rep Power: 813
EasternLI has a reputation beyond reputeEasternLI has a reputation beyond reputeEasternLI has a reputation beyond reputeEasternLI has a reputation beyond reputeEasternLI has a reputation beyond repute
Re: Money factor and residual for this month ?

Quote:
Originally Posted by kplax185 View Post
New to the forum. Lots of good info on here.

I am talking with a dealer in Long Island NY and they are quoting me 40 percent residual for an Altitude with Ally Bank, quote end Jan 4th.

Seems low? Any way to check that with the bank? I mean it will be on the contract so they really cant play to many games since the bank has to approve?

Thoughts?
40 does seem low but with 2 weeks left in 2015 the current model year vehicles value is dropping by the day, ask them to run it through some of the other banks they work with, Ally offers rebates to dealers which they can pass onto the customer to lower the price of the car and it doesn't come out of the dealers bottom line so they like using them, see if you can get a low sale price and then put it through the other banks programs
__________________
2015 Overland High Altitude / Billet Silver / Hemi / Harman Kardon / Volant CAI / Hellwig sway bar / AAR links / 22x10 SRT wheels
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
tire size on X Factor lift DGoral31 Suspension/Brakes/Wheels/Tires 12 04-29-2013 03:10 AM
2014 Overland ordered, look at this money factor ominous24 Grand Cherokee - WK2 - 42 03-11-2013 12:03 AM
'14 Limited vs. '14 Overland resale value (residual)? darkom Grand Cherokee - WK2 - 18 02-10-2013 09:22 PM
Residual Question Ashton Grand Cherokee - WK2 - 12 02-29-2012 01:55 PM

Powered by vBadvanced CMPS v3.2.3

All times are GMT -5. The time now is 04:05 PM.


Powered by vBulletin® Version 3.8.8
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
Copyright 2012 - JeepGarage.Org
The Jeep Grand Cherokee Owners Community

JeepGarage.org is in no way associated with or endorsed by FCA US LLC. Chrysler, Dodge, Jeep, Ram, Mopar and SRT are registered trademarks of FCA US LLC.