Jeep Garage  - Jeep Forum banner

1 - 20 of 40 Posts

·
Registered
Joined
·
11 Posts
Discussion Starter #1 (Edited)
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
 

·
Registered
Joined
·
18 Posts
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.
 

·
Registered
Joined
·
11 Posts
Discussion Starter #6
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?
 

·
Registered
Joined
·
18 Posts
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%.
 

·
Premium Member
2017 Summit
Joined
·
8,842 Posts
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.
 

·
Registered
Joined
·
11 Posts
Discussion Starter #10
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.
 

·
Registered
'10 Nissan Maxima SV
Joined
·
353 Posts
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.
 

·
Registered
Joined
·
18 Posts
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.
 

·
Registered
'10 Nissan Maxima SV
Joined
·
353 Posts
You are forgetting interest portion of the payments.

$30,900 seems like a great deal but the other numbers are a bit wonky.
LOL - edited it to say pre-taxes :p
 

·
Registered
Joined
·
1,887 Posts
You don't want to put anything down on a lease. All a downpayment is prepaid lease payments, if you rented an apartment would you put $2,500 down to have cheaper monthly rent? No.

Put the $2,500 in a savings account and make a portion of the payments out of that. That way you get your savings and control of the money.

The residual is fine, remember this is a leftover model so the residual is going to be low. Money factor translates to a 3.12% rate, which is not terrible.

I would try and negotiate the money factor down further, and don't put the $2,500 down.
 

·
Registered
Joined
·
772 Posts
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.
It's your money. Do with it what you want, but you're making a poor financial choice by putting that much down. Educate yourself on leases first and don't be lured in by a low payment. 
 

·
Registered
Joined
·
1,887 Posts
Absolutely.
 

·
Registered
Joined
·
11 Posts
I leased a JGC Limited in NY last month. Hann Financial + Chrysler are offering $5000 rebate with a 3.12% apr and 50% residual for 39 mo. Paying $414 per mo. based on invoice - $5K. Out of pocket I paid tax, first mo, and bank fee. I did not want to have to pay interest on these expenses. Good Lcuk!!!!
 

·
Registered
Joined
·
33 Posts
That money factor is high as well. I posted a few weeks ago a pic of my agreement with a money factor of .00001. I am not leasing now because I got a 1.9% loan for 60mo, but your money factor is hurting you alone.
 

·
Registered
Joined
·
70 Posts
With ally you can only raise the MF .080 is about 500 bucks in profit on reserve - her lying to u my overland is 49600 and some change with EP pricing and all the hold back and pack I bout mind for 40366 do a X - entry level line with now options is about 4000 swing from mrsp to invoice
I'm finance director for 2 Chrysler jeep stores MF should be .00093 with a 12 k lease 56 % - 58 residuals 35780 should be sale price - their some Hidden fee that their not telling you about let me know if I can assist or
Get involved
 

·
Registered
Joined
·
11 Posts
Discussion Starter #20
With ally you can only raise the MF .080 is about 500 bucks in profit on reserve - her lying to u my overland is 49600 and some change with EP pricing and all the hold back and pack I bout mind for 40366 do a X - entry level line with now options is about 4000 swing from mrsp to invoice
I'm finance director for 2 Chrysler jeep stores MF should be .00093 with a 12 k lease 56 % - 58 residuals 35780 should be sale price - their some Hidden fee that their not telling you about let me know if I can assist or
Get involved

It's Hann Financial they are using, so you are saying they are lying? im a bit confused from your post? does the 35780 include the $5000 rebate Hann is offering now? Because that it kind of make sense to me.

Thanks for your help
 
1 - 20 of 40 Posts
Top