Monthly payment?

[Jeep24MA]

Mind if I ask what people are paying monthly. With 2K down, including all taxes and fees the best I can get is $400 a month for a 46K Willys or $495 on a 49K Overland. Seems super high! Am I nuts? They tell me the Willys leases out the best of all the models.

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[WXman]

That's a good deal. Run with it.

When I put all the numbers into the Lease Hackr calculator, I'm coming up with $525 a month, and that's at 6% below invoice!

 

[Cripton805]

That's actually really low, but why put money down on a lease? Also, the thing about leases. You need to calculate the money factor / rental fee.

I was $383 with zero down with crappy money factor. 32k JLU.

 

[Cripton805]

Your rates are actually pretty good though. I would just buy instead if you find one under MSRP.

 

[Jeep24MA]

Your rates are actually pretty good though. I would just buy instead if you find one under MSRP.

I’d love to buy, but the payment jumps waaaay up and I don’t want to be car poor. I’m probably up in the 600’s or 700’s if I buy.

 

[Jeep24MA]

That's actually really low, but why put money down on a lease? Also, the thing about leases. You need to calculate the money factor / rental fee.

I was $383 with zero down with crappy money factor. 32k JLU.

Money factor calculated to just at 3 percent. And they charge you a $1,000 lease fee. They get ya!

 

[RobertRinAustin]

There's a bunch more to it than just your payment.

What's the dealer discount? Incentives? Selling price? Money Factor (MF)?

The Risidual Value (RV) is a percentage that represents the lease end value (example: 67% RV means the value the bank assigns at lease end is 67% of the MSRP). It is set by the bank and is typically better on lower priced models, varies with the term and can vary between banks.

You should negotiate a selling price just like on a purchase. The MF can also be negotiated if it's been marked up by the dealer, which is pretty common.

Best resource, spend some time reading leasehackr.com. You can also hire a broker to find the best deal for you.

 

[ShadowsPapa]

400 would be a deal IMO.
I prefer buying but that puts things up higher.
We used to get the longest term we could, lowest interest we could, then pay way more than the monthly amount and never went longer than a couple of years.

 

[Jeep24MA]

There's a bunch more to it than just your payment.

What's the dealer discount? Incentives? Selling price? Money Factor (MF)?

The Risidual Value (RV) is a percentage that represents the lease end value (example: 67% RV means the value the bank assigns at lease end is 67% of the MSRP). It is set by the bank and is typically better on lower priced models, varies with the term and can vary between banks.

You should negotiate a selling price just like on a purchase. The MF can also be negotiated if it's been marked up by the dealer, which is pretty common.

Best resource, spend some time reading leasehackr.com. You can also hire a broker to find the best deal for you.

They only discounted it $1,000 for the Willys and $1,500 for the overland and then I have a small rebate for a returning lessee. Money factor came out to 3.048 percent which isn’t bad. He showed me a few other banks and this was the best one. The car game is tough right now! I’ve been grinding.

 

[Cripton805]

I wish I would have bought my JLU. I would have paid more on the principal. My money factor was too high.

I bought my JT and I managed to get it at $35,850 for a Willys Sport, Auto, Hardtop. I owe around 38k with fees & gap insurance all in.

I got 84 months at 3% interest. My payment is $504.

I went with a long term loan because Jeeps hold their value and Im not concerned about resale. It depreciates slower than any other car if I decide to trade it in and I have a second car loan I almost have paid off a year into the loan. I make higher payments and pay off my cars quick anyway.

My credit score was 843 to be able to get such a long loan with little interest.

 

[RobertRinAustin]

Here's a basic deal using US News lease calculator.

Gladiator Price $46,000 MSRP, negotiate to $42,000
Down Payment $0
Residual Value 73% for 36 mo 10k/ yr, $33,850
This is the value of the car at the end of the lease
Estimated Sales Tax 5% but your's may be different
Estimated Interest Rate 3% based on post above, but seems low
Lease Term 36 mo, 10k/ yr
Payment Details
TOTAL MONTHLY PAYMENT
$345
TOTAL LEASE COST
$12,067
LEASE FEE - $94 not sure where this came from.

 

[RobertRinAustin]

They only discounted it $1,000 for the Willys and $1,500 for the overland and then I have a small rebate for a returning lessee. Money factor came out to 3.048 percent which isn’t bad. He showed me a few other banks and this was the best one. The car game is tough right now! I’ve been grinding.

You can order and lease from any of the dealers doing the 8% off Invoice deals. You need better discount.

 

[Jeep24MA]

You can order and lease from any of the dealers doing the 8% off Invoice deals. You need better discount.

Where can I get 8 percent off invoice??

 

[RobertRinAustin]

Look at the Gupton Motors thread in this section, usually close to the top.

 

[Renegade]

JTR with MSRP around $50k
Discounted price around $45k
39 months, 10k miles/year
$0 down
$490 per month
US Bank

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