Originally Posted by longisland
Seems like you did quite well on that deal. I am going for the V8 so i will be higher monthly. Can i ask what the rationale is for going with the 10K miles a year? I usually go with 15 K and use all if not slightly higher then that over the 3 year lease.
The v8 at 10k will be roughly within $20 monthly depending on the deal. My rationale is that I most likely would not be turning in the vehicle at the end of a lease. I'd either trade it to a place like carmax or just negotiate it with a new deal. With the jeeps residuals being predicted so low right now in the low 50s, and looking at used 2011 Overlands, it seems like you would build equity into the vehicle. When selling a car in 3 years its not going to matter how many miles over 30k you have.
Even worst case if you pay the fee at .20/mile and you drive 36k miles instead of 30k. The back calculating what it would have cost you over 36 months is like an extra $4 a month over pre paying for them.
But I'm going into deals assuming I wouldn't just "walk away" from it at the end. So these penalties shouldn't apply.