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Old 12-25-2013, 04:51 PM   #1
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Anybody leased recenty?

Hello folks,

Pondering a purchase of a 2014 Sahara unlimited.. Just curious as to a few things regarding current leases..will most likely finance, but just curious to the following

Does anyone have an idea of the residual value % on a 36 month lease?

What sort of money factor ( interest rate) is typical.

Any other BS fees or "gotchas" you've seen?

Thanks,

Frank

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Old 12-25-2013, 05:33 PM   #2
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Jeep not a good lease( nothing is for that matter) but they have the highest resale which makes spence to purchase

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Old 12-25-2013, 10:27 PM   #3
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Save up for it or finance it, leasing almost never makes financial sense unless its for business use.
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Old 12-25-2013, 10:47 PM   #4
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Buy, don't lease. Lease is always more costly in the end, ask me how I know.
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Old 12-25-2013, 11:32 PM   #5
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Originally Posted by Txrdstr View Post
Jeep not a good lease( nothing is for that matter) but they have the highest resale which makes spence to purchase
This. Because of the wrangler's monster residual, leasing isn't great, but purchasing is awesome. To give you some perspective OP, I bought my 2012, drove it for 2 years, put 23K on it, and TRADED IT IN for $1800 LESS than what I bought it for.
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Old 12-26-2013, 07:45 AM   #6
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Other than the financial issues - are you going off road any? Mod any? Leases don't give you much freedom for either, especially if you get pin striping and any body damage. It would kill me to have a jeep for 3 years with zero mods. That's one thing I really love about Jeeps. Then there is mileage cap. Finance, you'll be way ahead, and can prob have little out of pocket. A 60-75 month purchase might be close to a 36 month lease anyway..
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Old 12-26-2013, 08:53 AM   #7
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Agree on the residual value. Here's my case study: For my 2012 Sahara, I put 0 down, financed 84 mo's, rolled in 5k negative equity on a trade and STILL sold it for 2k more than I owed last November.

I would never, ever lease a Wrangler.
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Old 12-26-2013, 03:25 PM   #8
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Lease only if you truly intend to purchase the Jeep at the end of the lease. A lease is less out of pocket up front. It is very easy to purchase your vehicle at the end of the lease for the stated residual value which on a JK is a safe bet. You can pay it off cash or refinance into a purchase at the residual value. You can even sell your vehicle private party while still in a lease. This though usually ends up in a lose to you, but given the resale value on JKs might end up in a break even.

My 2013 is leased, but I fully intend on purchasing it at the end. I have modified it and wheel it frequently. My residual is $18,000 on a 36 month lease. Which is about the same as I would still owe on a 72 month purchase with a similar payment but with out the large down payment. I ask, do you think a 3.6 JKU will be worth $18,000 in 30 months? If resale history is any indicator, hell yes.

Leasing is not for everyone and DOES have it's pitfalls which have gotten many people into tight spots. You have to really understand your finances and wants vs. needs.

As far as residual goes it is depended on the model year and what time of year the vehicle is purchased. Mine was around 55-60% of the lease price.

Money factor is not an APR and can be confusing to calculate to a %. It is
based on credit rating like an APR. That being said something in the .2XX is high and something in the .19X to.18X is in the mid range. Anything lower is either you have 850 credit score or you are putting a huge sum down. Which would defeat the purpose of a lease.
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Old 12-26-2013, 04:10 PM   #9
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Quote:
Originally Posted by NFRs2000NYC View Post
This. Because of the wrangler's monster residual, leasing isn't great, but purchasing is awesome. To give you some perspective OP, I bought my 2012, drove it for 2 years, put 23K on it, and TRADED IT IN for $1800 LESS than what I bought it for.
My 2010's KBB estimated trade-in is about the same. About $1,000 less than what I paid for it.

That's astounding for a 4 year-old vehicle with 34,000 miles on it.

I look at the other "new-ish" vehicle in the family, a 2013 Joruney SXT, that's depreciated $5,000 in less than a year..

And it's a pretty nice vehicle, too. Wranglers are just made of gold or something and we don't know it.
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Old 12-26-2013, 08:38 PM   #10
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Great information everyone.. Thank you very much..

Based on what I am hearing ( and this reaffirms my initial hunch )that purchasing is much better because of the resale value.. My thinking. ( and please tell me if you think I'm wrong)...

Purchase a Sahara for about 1k under invoice ( 37k) nicely equipped with nav and 3.73 gears, leather, etc..

72 month finance at less than 4% with 3 k down

If I had to sell it for some unforeseen in 3 years, I'd probably owe around 18k on a vehicle worth 27-28 k?

To top it off, my wife and I have two company vehicles for work, so this would be a strictly weekend vehicle.. Point being less than 500 miles month..

Am I wrong ?
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Old 12-28-2013, 01:22 PM   #11
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Update:

Purchased our Wrangler yesterday!

14 unlimited Sahara yesterday!!!

Leather-Trimmed Bucket Seats Heated Front Seats
Sahara Package 24G
Connectivity Group with Bluetooth(R) Hands-Free
Individual Tire Pressure Monitoring Display
Electronic Vehicle Information Center Dual Top Group
Premium Black Sunrider(R) Soft Top Freedom Top(R) Black 3-Piece Hard Soft Top Freedom Panel Storage Bag
Rear Window Defroster
Rear Window Wiper / Washer
Max Tow Package
Class II 4-Inch Receiver Hitch
3.73 Axle Ratio
Trailer Tow with 4-Pin Connector Wiring Supplemental Front Seat-Mounted Side Airbags
Slush Mats by Mopar(R)
5-Speed Automatic Transmission
Hill Descent Control
Trac-Lok(R) Differential Rear Axle
Air Conditioning with Automatic Temperature Control
Air Filtering
Uconnect(R) 430N CD/DVD/MP3/HDD/ NAV
40 GB Hard Drive with 28 GB Available SiriusXM Travel Link(TM) / 1-Year Subscription
6.5-Inch Touch Screen Display
GPS Navigation
Remote Start System

Very happy!!

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Old 12-28-2013, 02:19 PM   #12
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Congrats on the new ride!
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Old 12-30-2013, 05:04 AM   #13
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Well Done. Welcome to Jeep fraternity! If you're going to keep it forever ( like I plan to) you might consider a lifetime warranty. If not, it comes with a pretty good one already. Enjoy - DRIVE that thing! Oh, and read the break-in recommendations in the manual. Different than a lot of other machines!
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Old 12-30-2013, 08:35 AM   #14
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Well Done. Welcome to Jeep fraternity! If you're going to keep it forever ( like I plan to) you might consider a lifetime warranty. If not, it comes with a pretty good one already. Enjoy - DRIVE that thing! Oh, and read the break-in recommendations in the manual. Different than a lot of other machines!
Thanks man.. I'm very excited..Read the break in stuff.. They pretty much did away with the "no going over 65 for the first 500 miles thing". Sounds like the main thing is not to go drag racing in low gear for an extended amount of time..

I think I got a decent deal.. $100 under invoice.. I didn't want to wait for a possible control #.. This was the color we wanted with all the options, so it was hard to pass up.. The cool part is, this is not a daily driver!! Wife and I have two company cars that all expenses, gas, and other stuff is paid for..

If all goes well, I estimate 300-500 miles a month on this puppy.. Should last a long time and with low miles hold its value even more!!
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Old 12-31-2013, 12:44 AM   #15
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40 GB Hard Drive with 28 GB Available SiriusXM Travel Link(TM) / 1-Year Subscription
This part still kills me. A 40GB HDD in a brand-new 2014 vehicle..

A 40GB HDD in a unit that costs over $1,000 when you can get a 120GB HDD in a 5 year-old iPod.

I have no idea why the HDDs in these things are so small. They could be putting 128GB SSDs in them for virtually no price difference.

I'm in IT. Stuff like this bothers me. Lol.
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Old 12-31-2013, 04:11 AM   #16
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How do you find the actual invoice price?
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Old 12-31-2013, 05:23 AM   #17
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How do you find the actual invoice price?
New 2014 Jeep Wrangler Unlimited Price Quote w/ MSRP and Invoice
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Old 12-31-2013, 05:34 AM   #18
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This part still kills me. A 40GB HDD in a brand-new 2014 vehicle.. A 40GB HDD in a unit that costs over $1,000 when you can get a 120GB HDD in a 5 year-old iPod. I have no idea why the HDDs in these things are so small. They could be putting 128GB SSDs in them for virtually no price difference. I'm in IT. Stuff like this bothers me. Lol.
Agreed on the size is the hdd, but isn't it integrated in the head unit? If not, where is it stored?
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Old 12-31-2013, 06:09 AM   #19
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Originally Posted by Hivedr View Post
Lease only if you truly intend to purchase the Jeep at the end of the lease. A lease is less out of pocket up front. It is very easy to purchase your vehicle at the end of the lease for the stated residual value which on a JK is a safe bet. You can pay it off cash or refinance into a purchase at the residual value. You can even sell your vehicle private party while still in a lease. This though usually ends up in a lose to you, but given the resale value on JKs might end up in a break even.

My 2013 is leased, but I fully intend on purchasing it at the end. I have modified it and wheel it frequently. My residual is $18,000 on a 36 month lease. Which is about the same as I would still owe on a 72 month purchase with a similar payment but with out the large down payment. I ask, do you think a 3.6 JKU will be worth $18,000 in 30 months? If resale history is any indicator, hell yes.

Leasing is not for everyone and DOES have it's pitfalls which have gotten many people into tight spots. You have to really understand your finances and wants vs. needs.

As far as residual goes it is depended on the model year and what time of year the vehicle is purchased. Mine was around 55-60% of the lease price.

Money factor is not an APR and can be confusing to calculate to a %. It is
based on credit rating like an APR. That being said something in the .2XX is high and something in the .19X to.18X is in the mid range. Anything lower is either you have 850 credit score or you are putting a huge sum down. Which would defeat the purpose of a lease.


Another good option while lease is freedom of returning after lease ends if you don't like it for some reason. Yes it is mostly waste of money, but you are still driving that vechicle and it is same as appartment rent to me. Same idea ...
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Old 12-31-2013, 09:16 AM   #20
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The dealer showed me his invoice and it matched what True car, kbb, and edmunds showed.. I agree that the HDD should be bigger.. A lot bigger.. The inky other thing slightly annoying is that the 430n is not capable of accessing Pandora and some other features.. Maybe they will come out with that soon? I also was hoping he Uconnect system would actually interface with your Jeep registration portal, so your mileage and suggested maintenance would auto update.. For now it is a manual process..
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Old 12-31-2013, 04:06 PM   #21
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Congrats. I took delivery of my Sahara 4 days ago and love it.

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