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  #49  
Old 10-03-2014, 11:48 PM
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Re: Well, it's getting serious now...

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Originally Posted by bill_de View Post
Everybody's situation is different.
That pretty much sums it up.

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Originally Posted by bill_de View Post
I typically trade between 2 & 3 years. I always do the math and buying and trading always comes out a little ahead for me. It's typically not a whole lot, but my low mileage helps. Plus, no gap insurance, built in or add on, saves a little.
Yeah, especially with the current lease-numbers in effect, I can imagine that financing might be more attractive. It also differs by brand. My Lincoln basically had the same monthly payment for a two year lease as for three years. Looking at the Summit, the payment-estimator spits out a $1,000 monthly payment for two years. I'm wondering what residual they are using - probably 47% instead of the 46% for 39 months..

I simply love the flexibility with leasing and the fact that I don't have to negotiate on any trades. The car I'm trading in for the new Jeep was a vehicle I financed because it was CPO'd where leasing wasn't an option - so I had to deal with trade-in negotiations (granted, I'm not very good at that) and a negative equity. The CPO warranty expires in December. I could have kept the old ride but would have been required to purchase an extended warranty which isn't cheap for a 6-year old car with 100K miles - so I decided to trade it in.

The lower balances and monthly payments compared to financing on my credit-report don't hurt either..

Oh, BTW, my baby is now built!

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  #50  
Old 10-04-2014, 12:04 AM
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Well, it's getting serious now...

Wait - maybe I missed it but what are you getting as a residual? Residuals on 39 Month leases right now are in the 50%s. At least for the Limiteds and Overlands.

This is through Chrysler Capital.

Go to Edmund's lease forum...they have it all spelled out there.

Oh - and that .00040 that you posted looked like the Money Factor (interest) not the residual. It also looks like they are marking it up.
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  #51  
Old 10-04-2014, 12:44 AM
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Re: Well, it's getting serious now...

Quote:
Originally Posted by GCOverland View Post
That pretty much sums it up.



Yeah, especially with the current lease-numbers in effect, I can imagine that financing might be more attractive. It also differs by brand. My Lincoln basically had the same monthly payment for a two year lease as for three years. Looking at the Summit, the payment-estimator spits out a $1,000 monthly payment for two years. I'm wondering what residual they are using - probably 47% instead of the 46% for 39 months..

I simply love the flexibility with leasing and the fact that I don't have to negotiate on any trades. The car I'm trading in for the new Jeep was a vehicle I financed because it was CPO'd where leasing wasn't an option - so I had to deal with trade-in negotiations (granted, I'm not very good at that) and a negative equity. The CPO warranty expires in December. I could have kept the old ride but would have been required to purchase an extended warranty which isn't cheap for a 6-year old car with 100K miles - so I decided to trade it in.

The lower balances and monthly payments compared to financing on my credit-report don't hurt either..

Oh, BTW, my baby is now built!
I leased a 2014 summit on a 60% Residual in August for 24 months, came out to $663 a month. I am brand new to jeep, it pretty much was an impulse buy. Researched it a couple days got the price I wanted and moved on, so I am not sure what their typical residuals are. But I would guess September and October residuals are below their typical average.
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  #52  
Old 10-04-2014, 07:57 AM
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Re: Well, it's getting serious now...

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Originally Posted by GCOverland View Post
Well, since I registered with TrueCar, I received an e-mail today about a new incentive (which would actually apply to me as well):



$1,000



2015 Chrysler, Dodge and Jeep Conquest Lease to Retail/Lease Bonus Cash




Applies to standard or special lease or retail programs. Only available to consumers currently leasing a competitive vehicle. No turn-in required. Not compatible with Employee purchase.

This incentive may not be combined with the following incentives: 2015 Chrysler 200 Sedan (excluding LX) South Carolina Lease Bonus Cash, 2015 Chrysler, Dodge and Jeep Loyalty Bonus Cash, 2015 Chrysler, Dodge, Jeep and Ram Returning Lessee Loyalty Bonus Cash, 2015 Dodge Dart Returning Lessee Loyalty Bonus Cash

See dealer for details. (Expires 3/31/2015)




BTW, there is a similar incentive for returning/current lessees.



Is this legit? I'm asking because I didn't expect ANY incentives on a MY15 that early in the game...

Screw incentives jump on either the DC or Texas group buys which both include the 2015 lineup if you want rock bottom pricing on a brand new jeep.

I'm not surprised either they only changed very minor things most would never even notice.


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  #53  
Old 10-04-2014, 09:31 AM
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Re: Well, it's getting serious now...

Quote:
Originally Posted by jcarlough View Post
Wait - maybe I missed it but what are you getting as a residual? Residuals on 39 Month leases right now are in the 50%s. At least for the Limiteds and Overlands.

This is through Chrysler Capital.

Go to Edmund's lease forum...they have it all spelled out there.
Unfortunately, the current residual on a 2015 Summit through Chrysler Capital for 39 months/12 k miles/year is indeed 46%. This number has been confirmed through the Edmunds-forum.
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  #54  
Old 10-04-2014, 09:33 AM
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Quote:
Originally Posted by skunkd View Post

Screw incentives jump on either the DC or Texas group buys which both include the 2015 lineup if you want rock bottom pricing on a brand new jeep.

I'm not surprised either they only changed very minor things most would never even notice.

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Uh, guess what? This incentive CAN be used with the group buys I used this exact incentive (MY14 version but worded exact same).....key is how they build the discount package in Mr. Computer. The Houston one uses Affiliate pricing to start then dealer discount $ so you can use this I incentive on top. I couldn't use my Realtor $500 bonus as well since it is also an Affiliate program and you can't use 2 different Affiliates together. I can't speak from personal experience on the DC buy but I think you can use this there too as they charge a group buy fee instead of using the Affiliate pricing route.
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  #55  
Old 10-04-2014, 09:34 AM
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Re: Well, it's getting serious now...

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Originally Posted by skunkd View Post
Screw incentives jump on either the DC or Texas group buys which both include the 2015 lineup if you want rock bottom pricing on a brand new jeep.
Thanks - but I ran those numbers as well. I'm going to pay 2% below invoice (and that's before the incentive gets applied) at my local dealer and any potential savings between the group-buys and my local price will be eaten up by travel-expenses. After all, DC and Texas are far away - it's just not worth it.
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  #56  
Old 10-04-2014, 10:30 AM
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Re: Well, it's getting serious now...

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Originally Posted by ylnad123 View Post
I leased a 2014 summit on a 60% Residual in August for 24 months, came out to $663 a month. I am brand new to jeep, it pretty much was an impulse buy. Researched it a couple days got the price I wanted and moved on, so I am not sure what their typical residuals are. But I would guess September and October residuals are below their typical average.
Oh, no doubt about that.

60% Residual for 24 months sounds far more realistic to me - and that's why I'm thinking there might be a chance for me to trade in my lease early - let's say after 24 of the 39 months. That's basically the major advantage of having to deal with a very low (and probably unrealistic) residual value - it might get you equity in your lease at some point.

After all, I'm going to pay $100 more per month on my longer lease than you on the shorter one.
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  #57  
Old 10-04-2014, 11:55 AM
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Re: Well, it's getting serious now...

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Originally Posted by GCOverland View Post
Oh, no doubt about that.

60% Residual for 24 months sounds far more realistic to me - and that's why I'm thinking there might be a chance for me to trade in my lease early - let's say after 24 of the 39 months. That's basically the major advantage of having to deal with a very low (and probably unrealistic) residual value - it might get you equity in your lease at some point.

After all, I'm going to pay $100 more per month on my longer lease than you on the shorter one.
I had the same situation with range rover and their horrible residuals. I traded it in after 2 years with no penalty.
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  #58  
Old 10-04-2014, 12:00 PM
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Re: Well, it's getting serious now...

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Originally Posted by ylnad123 View Post
I had the same situation with range rover and their horrible residuals. I traded it in after 2 years with no penalty.
Yep, that's exactly what I'm intending to do unless the applied residual improves significantly.
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  #59  
Old 10-04-2014, 12:56 PM
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Re: Well, it's getting serious now...

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Originally Posted by GCOverland View Post
Unfortunately, the current residual on a 2015 Summit through Chrysler Capital for 39 months/12 k miles/year is indeed 46%. This number has been confirmed through the Edmunds-forum.

Yes, I must have missed the actual residual being posted. Just saw the rate (which again, looks like it's being marked up).

Boy, sure makes you wonder if going with a Summit is worth it....that residual is terrible.
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  #60  
Old 10-04-2014, 02:18 PM
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Re: Well, it's getting serious now...

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Originally Posted by jcarlough View Post
Boy, sure makes you wonder if going with a Summit is worth it....that residual is terrible.
Well, as long as the money factor isn't too bad, there are several options where you can get your money "back". After all, this residual is only used to calculate the lease but I'm convinced that those numbers will be much different in the real market.

So you can either trade in early or purchase the lease at the end and cash in on the equity yourself. However, you certainly don't want to simply return the car at the end of the contract and hand the equity you paid for to somebody else.
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