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knicksfan1289 03-20-2013 09:20 AM

lease help
 
Hi everyone,

I am sure this has probably been asked many times but im looking for help on a lease. These numbers I got from a dealer are much lower then anybody else I have received quotes from so I would like to make sure they seem realistic to all you Jeep experts

$2,6000 down at 39 months for 12k miles a year it will be 314 a month
sticker for the 2013 Loredo x is 39,010 and he says im getting 1,100 under invoice

Money Factor-.00130
Residual-50%
Buy out-$19,505
He said I am buying the Jeep after rebates at $30,966 after rebates plus tax and tags which are included into the payment.

Anybody with some help? I think the 50% residual should be higher. lease conquest is also factored in to the price.

Thanks in advance

iamwiz82 03-20-2013 09:54 AM

Re: lease help
 
What year, what model? 2013 Laredo?

torifile 03-20-2013 10:00 AM

Re: lease help
 
That's terrible all around.

knicksfan1289 03-20-2013 10:02 AM

Re: lease help
 
Quote:

Originally Posted by torifile (Post 784078)
That's terrible all around.



how so torifile ?

iamwiz82 03-20-2013 10:13 AM

Re: lease help
 
I think your selling price is waaaay low compared to what I would expect it to be, but they adjusted that by raising the MF and (potentially, since you haven't said the model / year) lowering residuals.

knicksfan1289 03-20-2013 10:21 AM

Re: lease help
 
Quote:

Originally Posted by iamwiz82 (Post 784094)
I think your selling price is waaaay low compared to what I would expect it to be, but they adjusted that by raising the MF and (potentially, since you haven't said the model / year) lowering residuals.

Its a 2013 Laredo x. So way low meaning to good to be true?

iamwiz82 03-20-2013 10:26 AM

Re: lease help
 
I'd jump on the price to be honest. I know there is a $500 incentive plus lease conquest. Maybe you qualified for Military bonus? The residuals on the 2013s isn't so great so it could explain 50%.

bill_de 03-20-2013 10:26 AM

Re: lease help
 
There is a $500 cash bonus if the dealer arranges the lease through a local bank. Chrysler is severing ties with Ally in or around May.

torifile 03-20-2013 11:07 AM

Re: lease help
 
MF is high, residual is low. Paying WAY too much for a down payment (as in, anything over $0 is WAY too much on a lease) for only 12k miles on a 39 month lease. Read through this page: G and site and understand what you're getting into with a lease.

knicksfan1289 03-20-2013 11:26 AM

Re: lease help
 
Quote:

Originally Posted by torifile (Post 784148)
MF is high, residual is low. Paying WAY too much for a down payment (as in, anything over $0 is WAY too much on a lease) for only 12k miles on a 39 month lease. Read through this page: G and site and understand what you're getting into with a lease.

I chose to put the extra money down, I wanted my payments lower hes at 359 with $1500. Im in NY so a big chunk of my down payment is taxes and fees and I would rather just pay them up front.

AbleRiot 03-20-2013 11:45 AM

Re: lease help
 
Quote:

Originally Posted by knicksfan1289 (Post 784048)
Hi everyone,
$2,6000 down at 39 months for 12k miles a year it will be 314 a month
sticker for the 2013 Loredo x is 39,010 and he says im getting 1,100 under invoice

Money Factor-.00130
Residual-50%
Buy out-$19,505
He said I am buying the Jeep after rebates at $30,966 after rebates plus tax and tags which are included into the payment.

Anybody with some help? I think the 50% residual should be higher. lease conquest is also factored in to the price.

Thanks in advance

Help me out here:
39 months x $314 = $12,246
Buyout $19,505
Down $2,600

DOES NOT equal $30,966.

My calculation brings the total to $34,351 before taxes. Invoice + destination is $34,836 (BEFORE taxes)

If someone can double check my math - just wanted you to see what the dealer tells you isn't actually what you're paying. I'll be more than happy to be wrong in this case for you.

iamwiz82 03-20-2013 11:46 AM

Re: lease help
 
Quote:

Originally Posted by AbleRiot (Post 784180)
Help me out here:
39 months x $314 = $12,246
Buyout $19,505
Down $2,600

DOES NOT equal $30,966.

My calculation brings the total to $34,351 before taxes. Invoice + destination is $34,836

If someone can double check my math - just wanted you to see what the dealer tells you isn't actually what you're paying. I'll be more than happy to be wrong in this case for you.

You are forgetting interest portion of the payments.

$30,900 seems like a great deal but the other numbers are a bit wonky.


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