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

Join Jeep Garage Today
Reply
 
Thread Tools Display Modes
 
  #1  
Old 02-27-2012, 11:08 PM
Ashton's Avatar
Member
My Jeep: 2012 5.7L WK2
 
Join Date: Feb 2012
Location: Dallas, Texas
Posts: 57
Thanks: 8
Thanked 1 Time in 1 Post
Rep Power: 958
Ashton is on a distinguished road
Residual Question

I'm going to be leasing my new GC Overland 5.7. I want to do some back of the envelope calculations. What have you guys seen percentage wise for the Overland residual for say 36 months?

I'm not interested in buying vs. lease arguments. I love my leases.

Thanks!
__________________

__________________
Reply With Quote
  #2  
Old 02-28-2012, 07:10 AM
Member
 
Join Date: Jan 2011
Posts: 25
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 1302
noahchanin is on a distinguished road
Re: Residual Question

I paid 44 for my Overland 5.7 4x4 in September 2010 in Florida. I was offered 30-31 for it by several dealers in December 2011 w 16k . As you probably know, the GC was redesigned and released in 3Q2010 so you won't find any exact comps for a 36mo
__________________

__________________
--
Noah Chanin
2012 WK2 Overland 4x4 5.7

VIP Fishing Charters
Reply With Quote
  #3  
Old 02-28-2012, 08:04 AM
Member
 
Join Date: Feb 2012
Posts: 53
Thanks: 0
Thanked 1 Time in 1 Post
Rep Power: 956
Redealmaker is on a distinguished road
Re: Residual Question

I was just quoted 52% for 12k miles and 54% for 10k from my salesman. He also said 1.4% interest. I was looking at an Overland too, but with v6.
__________________
Reply With Quote
The Following User Says Thank You to Redealmaker For This Useful Post:
  #4  
Old 02-28-2012, 08:14 AM
Ashton's Avatar
Member
My Jeep: 2012 5.7L WK2
 
Join Date: Feb 2012
Location: Dallas, Texas
Posts: 57
Thanks: 8
Thanked 1 Time in 1 Post
Rep Power: 958
Ashton is on a distinguished road
Re: Residual Question

Quote:
Originally Posted by Redealmaker View Post
I was just quoted 52% for 12k miles and 54% for 10k from my salesman. He also said 1.4% interest. I was looking at an Overland too, but with v6.
Thanks! Wow, that is much better than I thought. Some crappy internet calculator pegged it at 41% @ 12k with 7.18% interest, which I thought was nuts.

Kinda the point of the post, I wanted to verify that I wasn't nuts. Thanks again!
__________________
Reply With Quote
  #5  
Old 02-28-2012, 06:30 PM
Ashton's Avatar
Member
My Jeep: 2012 5.7L WK2
 
Join Date: Feb 2012
Location: Dallas, Texas
Posts: 57
Thanks: 8
Thanked 1 Time in 1 Post
Rep Power: 958
Ashton is on a distinguished road
So, in talking with the dealer... 2012 Overland 4x4 5.7l ACC in Maximum Steel with saddle. MSRP $47,685. The original offer was 15k miles 43% residual combined with a 0.0025 (6%) money factor and a sale price of $43,462. I've done under 10k on my past 4 leases so I don't need the 15k. That brings residual to 45% for 10k/year miles. After a bit of talking I've got the money factor down to 0.0015 (3.6%).

Sound like a good deal? Am I leaving money on the table, or have I gotten a pretty good deal?
__________________
2012 Overland 5.7L ACC Maximum Steel/Saddle
Reply With Quote
  #6  
Old 02-28-2012, 06:48 PM
armoredsaint's Avatar
Premium Member
My Jeep: 2012 5.7L WK2
 
Join Date: Nov 2011
Location: Ohio
Posts: 1,288
Thanks: 12
Thanked 11 Times in 11 Posts
Rep Power: 234398
armoredsaint has a reputation beyond reputearmoredsaint has a reputation beyond reputearmoredsaint has a reputation beyond reputearmoredsaint has a reputation beyond reputearmoredsaint has a reputation beyond reputearmoredsaint has a reputation beyond reputearmoredsaint has a reputation beyond reputearmoredsaint has a reputation beyond reputearmoredsaint has a reputation beyond reputearmoredsaint has a reputation beyond reputearmoredsaint has a reputation beyond repute
Re: Residual Question

Residual is 49% on 10k and 47% on 12k

3 year lease.
__________________
Reply With Quote
The Following User Says Thank You to armoredsaint For This Useful Post:
  #7  
Old 02-28-2012, 07:43 PM
Ashton's Avatar
Member
My Jeep: 2012 5.7L WK2
 
Join Date: Feb 2012
Location: Dallas, Texas
Posts: 57
Thanks: 8
Thanked 1 Time in 1 Post
Rep Power: 958
Ashton is on a distinguished road
Re: Residual Question

Quote:
Originally Posted by armoredsaint View Post
Residual is 49% on 10k and 47% on 12k

3 year lease.
I trust ya, but I'm just wondering where you received those numbers. I've had a hard time tracking down real numbers. This finance game wears on me.

P.S. I love LaRue Tactical. Best black rifle products out there.
__________________
Reply With Quote
  #8  
Old 02-29-2012, 12:25 AM
SW03ES's Avatar
Premium Member
My Jeep: 2014 3.6L WK2
 
Join Date: Jun 2011
Location: Gaithersburg, MD
Posts: 1,739
Thanks: 14
Thanked 39 Times in 34 Posts
Rep Power: 1303315
SW03ES has a reputation beyond reputeSW03ES has a reputation beyond reputeSW03ES has a reputation beyond reputeSW03ES has a reputation beyond reputeSW03ES has a reputation beyond reputeSW03ES has a reputation beyond reputeSW03ES has a reputation beyond reputeSW03ES has a reputation beyond reputeSW03ES has a reputation beyond reputeSW03ES has a reputation beyond reputeSW03ES has a reputation beyond repute
Re: Residual Question

I mean...the residuals should be set by Ally...

43% on 10k and 45% on 15k is really low. With a residual of only 43% I don't know that I would lease it. According to my calculations thats a lease payment of $708.60. Jeep is offering 1.9 for 60 months right now through Ally, at the same price thats a payment of $759.89...assuming taxes and tags down on both. Now, there is a $1500 leasing incentive right now, don't know if that is factored into your price.

I'm a fan of leasing too, but the deal has to make sense. I don't think savings of $50 a month over a traditional purchase makes sense unless you can write it off for business.

Now...a 52% residual brings the payment down to $620.89 where it makes more sense.
__________________
~Steve~
2014 Jeep Grand Cherokee Overland V6 4X4. Maximum Steel w/ Vesuvio Jeep Brown/Indigo Blue. Advanced Tech Pkg.
2013 Lexus GS350 AWD, Liquid Platinum w/ Flaxen. Luxury & Cold Weather Pkg
Previous Jeep: 2011 Grand Cherokee Laredo X w/Nav, QT1 & Trailer Tow
Reply With Quote
  #9  
Old 02-29-2012, 01:51 AM
armoredsaint's Avatar
Premium Member
My Jeep: 2012 5.7L WK2
 
Join Date: Nov 2011
Location: Ohio
Posts: 1,288
Thanks: 12
Thanked 11 Times in 11 Posts
Rep Power: 234398
armoredsaint has a reputation beyond reputearmoredsaint has a reputation beyond reputearmoredsaint has a reputation beyond reputearmoredsaint has a reputation beyond reputearmoredsaint has a reputation beyond reputearmoredsaint has a reputation beyond reputearmoredsaint has a reputation beyond reputearmoredsaint has a reputation beyond reputearmoredsaint has a reputation beyond reputearmoredsaint has a reputation beyond reputearmoredsaint has a reputation beyond repute
Re: Residual Question

Quote:
Originally Posted by Ashton View Post
I trust ya, but I'm just wondering where you received those numbers. I've had a hard time tracking down real numbers. This finance game wears on me.

P.S. I love LaRue Tactical. Best black rifle products out there.

It varies by dealer to dealer - but mine was from Field's Jeep - who is also a forum sponsor LaRue stuff is awesome! And the free Dillo Dust
__________________
Reply With Quote
  #10  
Old 02-29-2012, 10:46 AM
Member
My Jeep: 2014 5.7L WK2
 
Join Date: Aug 2010
Location: Lindenhurst, IL
Posts: 458
Thanks: 17
Thanked 94 Times in 57 Posts
Rep Power: 291249
Pat@FieldsAuto has a reputation beyond reputePat@FieldsAuto has a reputation beyond reputePat@FieldsAuto has a reputation beyond reputePat@FieldsAuto has a reputation beyond reputePat@FieldsAuto has a reputation beyond reputePat@FieldsAuto has a reputation beyond reputePat@FieldsAuto has a reputation beyond reputePat@FieldsAuto has a reputation beyond reputePat@FieldsAuto has a reputation beyond reputePat@FieldsAuto has a reputation beyond reputePat@FieldsAuto has a reputation beyond repute
Re: Residual Question

Residual will vary by state and business center.

Here's ALLYs residuals for the Overland good thru today, we will get new lease programs tomorrow.

36 month/10,000 miles per year is 48%
36 month/12,000 miles per year is 46%

The big thing is the money factor is really low. Ally does not show it as a money factor, they show it as an interest rate. Interest rate is 0.20% at the lowest based on credit and goes up to just under 1%.
__________________
------------------------
Patrick O'Donnell(pat@fieldsauto)
Fields Chrysler Jeep Dodge Ram
2800 Patriot blvd
Glenview, IL, 60026
847-446-5100 main
pat@fieldsauto.com
www.fieldschryslerjeepdodge.com
Reply With Quote
  #11  
Old 02-29-2012, 12:15 PM
Ashton's Avatar
Member
My Jeep: 2012 5.7L WK2
 
Join Date: Feb 2012
Location: Dallas, Texas
Posts: 57
Thanks: 8
Thanked 1 Time in 1 Post
Rep Power: 958
Ashton is on a distinguished road
Thanks Pat! Even though they expire today, the approximate knowlege will defiantly help keep me from getting a poor deal. I really appreciate your help.
__________________
2012 Overland 5.7L ACC Maximum Steel/Saddle
Reply With Quote
  #12  
Old 02-29-2012, 01:59 PM
Member
My Jeep: 2012 3.6L WK2
 
Join Date: Nov 2011
Location: Madison, WI
Posts: 64
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 1053
JTP (WI) is on a distinguished road
Re: Residual Question

I got a pentastar instead of hemi, but I got 50% residual with 0.0001% effective interest rate on a 12,000 mile 36 month lease in late october of last year on a 2012 Overland. Madison, WI. The financing company had a special going and my math told me it made no sense whatsoever to buy given those numbers.
__________________

__________________
2012 Overland. Brilliant Black Crystal Pearlcoat. Chrome Mopar Tube Steps, Mopar Roof Rails, chrome fog bezels, Mopar stainless pedal kit, shark fin antenna, Mopar slush mats and cargo liner.
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
Trailer Question & 730N Question oz1302 Grand Cherokee - WK2 - 3 11-22-2011 02:44 AM
stereo question, subs question, please help! jeepinhard Audio, Video, Navigation & Electronic Modifications 14 04-13-2011 07:00 AM
Rim question / tinted tail light question burt0n05 Grand Cherokee - WK 12 02-08-2010 12:36 PM

Powered by vBadvanced CMPS v3.2.3

All times are GMT -5. The time now is 03:48 PM.


Powered by vBulletin® Version 3.8.8 Beta 4
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
Copyright 2012 - JeepGarage.Org
The Jeep Grand Cherokee Owners Community