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Discussion Starter · #1 ·
I know, I know. everyone says never to lease, but the mrs needed a vehicle, and she always wanted a jeep, and the payments were in the ballpark.

MSRP: 33,775ish (23s, connectivity, premium soft top, Sirius)

gross cap cost: $30,352
cap reduction: $2,791
adjusted cap cost: $27,561
residual: $26,291
depreciation: $1,270
rent charge(?): $6819
total payments: $8,090
payments: 36, 10k miles per year
payments w/tax: $238.75

granted, it's technically moot. we picked it up august 4th 2016(after waiting about 7 weeks for special order to come in). she currently sits at 5300 miles. just wondering if it is a good lease, good enough pricing to buy out at end, or if we should lease another one (at a possible better rate/price/etc) to keep the payments low. no major mods (all listed in sig, and no off roading). just curious is all. thanks.
 

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I'm not 100% sure. I have never leased a vehicle, so take this for what it's worth.


do you pay the rent charge of 6K and the lease of 8K?

if so, I think that if you buy at the end of your lease you will have paid ~$41206.xx for a vehicle that msrp @ 33.7 . if only the lease charge than you would pay 35K-ish for a vehicle that would probably would have sold originally for approx. 28K +ttl.
 

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That residual is ridiculous. The residual from Chrysler financing is 52% for a Sport so it should have been about $17.5k. That said, the super high residual is why the payments are so low. If your plan is to return the car at the end of the lease, then yes, this is a fantastic deal. Your wife is driving a brand new Jeep for 3 years for about 40% of what you'd be paying if you financed it.

One note on leases, typically you shouldn't make any down-payment, it brings the payment down, but it's an artificial construct at that point (unless the money factor is high).
 

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Discussion Starter · #4 ·
That residual is ridiculous. The residual from Chrysler financing is 52% for a Sport so it should have been about $17.5k. That said, the super high residual is why the payments are so low. If your plan is to return the car at the end of the lease, then yes, this is a fantastic deal. Your wife is driving a brand new Jeep for 3 years for about 40% of what you'd be paying if you financed it.
cheapest 2014 unlimited sport s with similar mileage that i will have at the end of my 3 year term is $25k on autotrader. they go up quickly from there. to me, seems like the $26k residual is about correct, but I don't know. she will likely want to keep it, but I may try to push her into another lease for low payments, and no maintenance or warranty worries. just an fyi, the dealer used ally bank instead of Chrysler financial. I am a mopar employee, and this was purchased from a dealer that I don't work at, but used to, and I assumed they were taking care of me. that's basically all I am wondering I guess.
 

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Generally speaking, leasing a Wrangler is like taking the vast majority of your payments (36*$238.75=$8595), and lighting them on fire. If you purchased the same vehicle at group buy discount (Invoice minus 6%), you would be paying $32,275*0.94=30,338.50. At the end of the three years, your vehicle would KBB around 27k, meaning you'd pay in total ~$3300 to drive it for three years.

$8595 lease vice $3300 purchase difference = $5295 you're lighting on fire with that lease. Plus you don't have to worry about that "Oh, there's swirling in the paint, you must have run it through brushless car washes, we're going to charge you $3k to repaint it." when you turn it in at the end of the lease.

GLWT
O_E
 
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Generally speaking, leasing a Wrangler is like taking the vast majority of your payments (36*$238.75=$8595), and lighting them on fire. If you purchased the same vehicle at group buy discount (Invoice minus 6%), you would be paying $32,275*0.94=30,338.50. At the end of the three years, your vehicle would KBB around 27k, meaning you'd pay in total ~$3300 to drive it for three years.

$8595 lease vice $3300 purchase difference = $5295 you're lighting on fire with that lease. Plus you don't have to worry about that "Oh, there's swirling in the paint, you must have run it through brushless car washes, we're going to charge you $3k to repaint it." when you turn it in at the end of the lease.

GLWT
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Not to mention the cost of any mods you did yourself. And it's never been off road! :facepalm:

The real Erik
 

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Generally speaking, leasing a Wrangler is like taking the vast majority of your payments (36*$238.75=$8595), and lighting them on fire. If you purchased the same vehicle at group buy discount (Invoice minus 6%), you would be paying $32,275*0.94=30,338.50. At the end of the three years, your vehicle would KBB around 27k, meaning you'd pay in total ~$3300 to drive it for three years.

$8595 lease vice $3300 purchase difference = $5295 you're lighting on fire with that lease. Plus you don't have to worry about that "Oh, there's swirling in the paint, you must have run it through brushless car washes, we're going to charge you $3k to repaint it." when you turn it in at the end of the lease.

GLWT
O_E
So much not accurate here. You're not accounting for any interest when you buy (assuming you don't buy for cash) and you're not accounting for the sales tax - which is included in his payment. Presumably title and license is included as well. Sales tax where i live is 8.631% - which on a $30,000 vehicle is $2590 - payable up front. I'll let you figure the interest on your own...
 

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Discussion Starter · #8 ·
sales tax is 6.25% in MA. t-t-l is included in the payment.
 

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Generally speaking, leasing a Wrangler is like taking the vast majority of your payments (36*$238.75=$8595), and lighting them on fire. If you purchased the same vehicle at group buy discount (Invoice minus 6%), you would be paying $32,275*0.94=30,338.50. At the end of the three years, your vehicle would KBB around 27k, meaning you'd pay in total ~$3300 to drive it for three years.

$8595 lease vice $3300 purchase difference = $5295 you're lighting on fire with that lease. Plus you don't have to worry about that "Oh, there's swirling in the paint, you must have run it through brushless car washes, we're going to charge you $3k to repaint it." when you turn it in at the end of the lease.

GLWT
O_E
Plus you have to add in the cap reduction to the lease cost calculation
 

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A lot depends on the dealer. I've had good and bad leases. It all depends on how the dealer treats you at the end. You're basically at their mercy in regards to paint chips and miscellaneous crap that can add up to thousands.
 

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No, he's paying rent charge plus depreciation, to equal the $8090.
Looking at the numbers provided by the OP it looks like after making a down payment of $2,791, the total of the 36 payments is $8595 . Total lease cost would be $11,386 over three years.
 
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