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-   -   Residual Question (http://www.jeepgarage.org/f73/residual-question-38038.html)

Ashton 02-27-2012 11:08 PM

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.:gtfoslap:

Thanks!

noahchanin 02-28-2012 07:10 AM

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

Redealmaker 02-28-2012 08:04 AM

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.

Ashton 02-28-2012 08:14 AM

Re: Residual Question
 
Quote:

Originally Posted by Redealmaker (Post 582939)
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! :)

Ashton 02-28-2012 06:30 PM

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?

armoredsaint 02-28-2012 06:48 PM

Re: Residual Question
 
Residual is 49% on 10k and 47% on 12k

3 year lease.

Ashton 02-28-2012 07:43 PM

Re: Residual Question
 
Quote:

Originally Posted by armoredsaint (Post 583262)
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. :D

SW03ES 02-29-2012 12:25 AM

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.

armoredsaint 02-29-2012 01:51 AM

Re: Residual Question
 
Quote:

Originally Posted by Ashton (Post 583297)
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. :D


It varies by dealer to dealer - but mine was from Field's Jeep - who is also a forum sponsor:D LaRue stuff is awesome! And the free Dillo Dust :thumbsup:

Pat@FieldsAuto 02-29-2012 10:46 AM

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%.

Ashton 02-29-2012 12:15 PM

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.

JTP (WI) 02-29-2012 01:59 PM

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.


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