Leasing a Jeep Gladiator

[steffen707]

Thank you for the link.

@steffen707

Saw this in the comments on the link.

leasetrader.com you might want to check it out.

NICE!

this is also nice to look at, https://www.bankrate.com/calculators/auto/lease-buy-car.aspx

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[steffen707]

Money Factor explained in a fun way, LMAO, Money factor = lease charge/(term*(net cap cost + residual value)); Lease Charge = Total Finance Charges as specified in contract.

So for example, a money factor of .0017 is about 4.08%. If my lease term is 24 months, net cap cost of $41735 and residual value of $35,614, you can back into the lease charge of roughly $3,155.

This $3,155 is sales tax, dealer fees, acquisition fees, disposition fees, lending fees. All that crap. If you have followed the thread this long, maybe you too will be more comfortable doing a lease. This is totally the right path for me, right now.



https://www.leaseguide.com/glossary/money-factor/
"When visiting a car dealer for the purpose of leasing, ask them about the money factor on their leases. It is not something that is routinely discussed in lease transactions because most customers don’t know to ask. You cannot know in advance what lease money factor will be used before you lease unless you ask. In fact, money factor is not even disclosed in car lease contracts. It’s not required by law, as APR interest rate is in loan contracts. If you don’t ask, you’ll never know. If a dealer refuses to disclose this important information to you, find another dealer."

hey @Dietruck that link above also says, "The money factor in a car lease is always determined by a customer’s credit score. The best scores get the lowest money factor." So when you get a quote from a dealer like Kent, Spencer, Travis, what are they basing your credit score on, because they haven't run your credit yet?

 

[Dietruck]

Money Factor explained in a fun way, LMAO, Money factor = lease charge/(term*(net cap cost + residual value)); Lease Charge = Total Finance Charges as specified in contract.

So for example, a money factor of .0017 is about 4.08%. If my lease term is 24 months, net cap cost of $41735 and residual value of $35,614, you can back into the lease charge of roughly $3,155.



https://www.leaseguide.com/glossary/money-factor/
"When visiting a car dealer for the purpose of leasing, ask them about the money factor on their leases. It is not something that is routinely discussed in lease transactions because most customers don’t know to ask. You cannot know in advance what lease money factor will be used before you lease unless you ask. In fact, money factor is not even disclosed in car lease contracts. It’s not required by law, as APR interest rate is in loan contracts. If you don’t ask, you’ll never know. If a dealer refuses to disclose this important information to you, find another dealer."

hey @Dietruck that link above also says, "The money factor in a car lease is always determined by a customer’s credit score. The best scores get the lowest money factor." So when you get a quote from a dealer like Kent, Spencer, Travis, what are they basing your credit score on, because they haven't run your credit yet?

I think you meant @sog. I have not compared any real numbers yet or am I comparing dealers.

As soon as I get a sticker my local dealer that has my order. They will run my credit and get 4 different leasing companys quotes.

I will go with one of them. I think most people don't know that they get 4 quotes and down selected for you before giving you the numbers. I am not sure if that is what other dealers do. I just asked them if I could get all four and choose myself.

 

[steffen707]

I think you meant @sog. I have not compared any real numbers yet or am I comparing dealers.

As soon as I get a sticker my local dealer that has my order. They will run my credit and get 4 different leasing companys quotes.

I will go with one of them. I think most people don't know that they get 4 quotes and down selected for you before giving you the numbers. I am not sure if that is what other dealers do. I just asked them if I could get all four and choose myself.

nope I meant @Dietruck , just figured you're a very knowledgable guy, you might have known. I'll ask Spencer and see what he says.

Ohh, cuz then you can look at all 4 of them and how they handle end of lease options?

 

[Dietruck]

nope I meant @Dietruck , just figured you're a very knowledgable guy, you might have known. I'll ask Spencer and see what he says.

Ohh, cuz then you can look at all 4 of them and how they handle end of lease options?

Yeap. I am not only interested in the dollars. I want to know if the rules for turn in are the same. I am willing to pay more if the rules are more to my liking. Maybe they will are be the same. Once I sign I will let you know my thoughts.

To answer your question. I would put the credit rating on off your one of your credit cards ( most do give you your score). Send it to them as I base line. I think anything over 730 gets the best rates.

 

[steffen707]

Yeap. I am not only interested in the dollars. I want to know if the rules for turn in are the same. I am willing to pay more if the rules are more to my liking. Maybe they will are be the same. Once I sign I will let you know my thoughts.

To answer your question. I would put the credit rating on off your one of your credit cards ( most do give you your score). Send it to them as I base line. I think anything over 730 gets the best rates.

Yeah mine is like 780 i think.

 

[Dietruck]

Yeah mine is like 780 i think.

You will get the best rates no problem.

 

[HoldMyBeer]

Has anyone received the residuals for a Rubicon and an Overland for 3 years / 10k miles?

 

[NJKen]

Has anyone received the residuals for a Rubicon and an Overland for 3 years / 10k miles?

I wasn't looking to lease but during my test drive today, the sales guy said residuals on the Gladiator Rubi were around 77! Pretty damn good if its true

 

[WXman]

Where?

Allpar

 

[furrymurray]

Yeah mine is like 780 i think.

That's a pretty damn good score right there Steffen.

 

[steffen707]

I wasn't looking to lease but during my test drive today, the sales guy said residuals on the Gladiator Rubi were around 77! Pretty damn good if its true

depends on lease length.

might be 81% at 24 months, or 77% at 36 months.

 

[steffen707]

Has anyone received the residuals for a Rubicon and an Overland for 3 years / 10k miles?

they change month to month with different trims and different lease lengths and can change from dealer to dealer depending on the vehicle manufacturer.

Best bet is to contact a dealer you actually want to use like @spenchey if you're in the Midwest.

 

[Blown7]

And now that the leasing numbers are understood..
Whats the added gap and liability insurance going to cost ??

 

[Dietruck]

And now that the leasing numbers are understood..
Whats the added gap and liability insurance going to cost ??

I got a quote for gap, new car and some other part as a package deal for $30 more every 6 months

Gap is sometimes included in your lease.

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