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Jeep Liberty Lease Questions

24

Comments

  • Just wondering if anyone got back to you about your inquiry about the lease amount. My son and I are trying to negotiate almost the exact same deal and our numbers for the monthly cost are much higher than what you have. We are in the suburban phila. area. Where are you? Can someone please respond to barbototal's numbers. We go back on Monday and I want to be well versed with knowledge. Thanks.
  • Hi bardototal. In addition to all of the cash incentives that are available on this truck, it was recently switched to $5,000 dealer cash for the month of December, you should be able to negotiate a dealer discount on it as well. Always remember that the selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Good luck in your negotiations and let me know if you have any other questions.

    Car_man
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  • Car man
    can you tell me what the cuurent lease buy rate is on a 2006 Jeep liberty? I think I have the other components figured out, but the buy rate they are quoting me seems high for tier one credit...thanks!
  • Hi jakpenn. Unfortunately, DaimlerChrysler is no longer providing lease support on 2006 models. You can still lease one through Chrysler Financial, but you will have to use its standard lease money factor. Its money factors vary depending upon how long you lease for. For now I will assume that you are interested in a 36 month lease. Let me know if you want something different. Chrysler Financial's current 36 month standard buy rate lease money factor is .00332 for consumers who qualify for its top credit tier. When negotiating your lease on the 2006 Jeep Liberty that you are interested in, make sure to take the $5,000 dealer cash that is currently available on it into account. this incentive will help you negotiate an attractive capitalized cost for your lease.

    Car_man
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  • Hi my fiance just signed a lease for a 2007 jeep liberty sport 4x4 and I was hoping to get some feedback. She put 1279 down which included the first month's payment and her monthy payments are 279 a month for 15k miles per year. The buyout at the end of the 39 month lease was 10688. I don't have the contract in front of me so I don't know what the money factor was but I know she recieved 4.5k in rebates( 1k lease loyalty, 3k liberty promotion, 500 dealer Pres special=4.5k) Additionaly the MSRP was apx 25,500 and the agreed apon value was apx. 23,600. She is charged .15 cents a mile if she goes over.

    First was this a good deal in todays market?

    Second is the buyout at the end a fair price?

    Thanks for your responses,

    Dave
  • Here are some more specific numbers from the contract:

    38 monthly payments of 279.00
    total monthly payments of 10881
    Other Charges: 425 (vehicle turn in fee if I don't purchase)
    16806 total payments

    5492.51 due at lease signing
    4500.00 total rebates and non-cash credits
    1279.01 cash due at signing

    Gross Capitalized cost:
    23156.92 (agreed upon cost of vehicle)
    25401.89 (any items payed over lease term)

    adjusted capitalized cost 19909.38
    residual value 10649.10

    depriciation and amortized amounts: 9260.28
    rent charge 1620.72
    total of base monthly payments: 10881.00

    lease payments: 39 (one paid in down payment)

    total monthly payment= 279

    Excessive wear and use: .15 per mile over 48750

    Estimated official fees and taxes: 2158.77

    NJ DISCLOSURE:
    MSRP= 25355.00
    Total cost of lease if you do not defualt and exercise the puchase offer at the end of the lease term 27455.11

    Well sorry If I put in a lot of data you didn't neeed but I have never leased a vehicle before and I was curious to if we got a good deal and if not I want to know what to look for if I choose to lease in the future.

    Thank you all for your time and consideration.
  • I just notice a mistake I made in the above the figures:

    5492.51 due at lease signing
    should be
    5779.01 total due at lease signing
    (5492.51 +279 1st month + 7.50 misc.)

    Here is a mistake I believe the dealership made on the contract:

    I noticed that if I added up
    box 1 5779.01 due at lease signing
    box 2 10881.00 monthly payments over life of lease
    box 3 turn in fee not applicable unless turned in

    box 4 total payments is 16806.01
    but shouldn't it be 16660 by adding box 1 & 2????

    does the 146 dollar discrepency mean anything?

    I pulled the paperwork from her old lease and box 1 & 2 added up to equal box 4.

    Anyways just wanted to know if it was a clerical mistake or if I am missing something.

    Thanks Again,
    Dave
  • Hi, I am new to the forum and I mistakenly started my own thread under jakpenn's thread about lease to buy ratio. If anyone could please give me some info on the lease I talked about above I would greatly appriciate it.

    (if a moderator could move my questions into this thread it would be great too!!)

    Thanks,
    Dave
  • Alright, I could have m ade a mistake but given the formula I found on the web I think I calculated the money factor on the deal above to be .001359 (if I take that and multiply it by 2400 I get equivelant 3.2% interest rate) Right now they are giving out a 3.9 60 month interest rate on the Liberty so. . . it I think I did alright???

    Anyways, if anyone can check my math and my numbers please let me know how we did on this lease.

    It appears that my residual is low but I still don't know how to factor it. Do you go off the agreed purchase price, the MSRP or do you take the Gross Cap Cost minus the incentives you didn't pay for?

    Thanks Again,
    Dave
  • here are the formulas I used:

    Monthly Finance Fee = Lease Charge ÷ Term

    Finance Fee = ( Net Cap Cost + Residual ) × Money Factor

    Depreciation Fee = ( Net Cap Cost – Residual ) ÷ Term

    $ fac = Lease Charge ÷ ( (Net Cap Cost + Residual) x Term )

    Interest Rate = Money Factor x 2400

    Total Monthly Payment = Depreciation Fee + Finance Fee
  • Ok last post till I get a response (just kidding) After doing some reading it appears I should use the MSRP in computing the residual so:

    I came up with 42% on a 39 month 15k a year lease ( I think)
    seems low but .. .

    I guess that is the least of all evils becuase from what I understand if you have equity at the end you can re-coup it with a trade-in or buyout/sell at the end of your lease.

    Give me your thougts:
    Dave
  • fletcher3fletcher3 Posts: 12
    man is anyone out there with some info?

    I should mention the liberty was leased in nothern new jersey (nj)
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Dave. The selling price that she was able to negotiate looks good to me. The truck's lease-end purchase option price is set by the bank that she leased it through, which is most likely Chrysler Financial. Individual dealers do not have the authority to alter vehicles' lease-end purchase prices. In fact, the higher your truck's end of term purchase option price is, the better it is for you as a lessee. That is because the higher a vehicle's purchase option price is, the less depreciation you have to pay for over the life of your lease and the lower your monthly payment will be. As long as the dealer used Chrysler Financial's current buy rate lease money factor to calculate her monthly payment, and they probably did because Jeep dealers seem to rarely mark up money factors, this looks like a good deal to me.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey Dave. Chrysler Financial's current 39 month buy rate lease money factor and residual value for a 2007 Jeep Liberty Sport 4WD with 15,000 miles per year are .00136 and 42%, respectively. Vehicles' residual values are based upon a percentage of their full MSRPs, including the destination charge and the MSRPs of any options that can be residualized.

    Car_man
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  • fletcher3fletcher3 Posts: 12
    So, in your opinion based on the numbers I provided I got a good deal correct?
  • 4jeeps4jeeps Posts: 6
    Car man, Do you also have the current 39 lease money factor and residual value for an 07 Liberty Limited 4x4 with 12k miles? Thank you very much!
  • mr_nmr_n Posts: 1
    Hey everyone,
    I'm new in this forum and I don't know much about leasing. I'm really interested in leasing a Jeep Liberty. It could be up to 3 years old (2004 to 07). I would like your advice before I go to the dealership and make mistakes. I've been reading your postings and you suggest to don't give any down payment.Can you explain that please?
    Please help me out here and give me advice about how to get a good deal. Also, can you pease explain what is the "lease money factor and residual value?"
    Thanks for your help
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello 4jeeps. Here is the information that you're looking for. Chrysler Financial's current buy rate lease money factor and residual value for a 39 month lease of a 2007 Jeep Grand Cherokee Limited 4WD with 12,000 miles per year are .00211 and 48%, respectively. When negotiating your lease on this truck, make sure to take the $3,500 lease cash and $1,000 bonus cash that are available on it right now into account. They will help you to negotiate an attractive capitalized cost for your lease.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Welcome mr_n. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    I personally always advise consumers against making down payments on leased vehicles. Those who make them risk losing them if their vehicle is totaled in an accident or stolen and never recovered.

    Check out the aforementioned articles and I would be happy to answer any specific questions that you have after reading them.

    Car_man
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  • Hi - my name is Linda and I just have a quick question. I have a car that has "negative equity" - quite alot as I bought it thru JD Byrider (I will NEVER do that again). Anyway, I was looking to trade it in, but my credit isn't strong at all (550) and I called a car dealer and she said that I owe too much and since my credit isn't that strong, it wouldn't work. She said that I could possibly lease a car and that the Jeep Liberty has a big rebate to absorb some of the costs. I know nothing about leasing..can anyone help me or offer any suggestions? Thank you so much
  • Hi - my name is Linda and I just have a quick question. I have a car that has "negative equity" - quite alot as I bought it thru JD Byrider (I will NEVER do that again). Anyway, I was looking to trade it in, but my credit isn't strong at all (550) and I called a car dealer and she said that I owe too much and since my credit isn't that strong, it wouldn't work. She said that I could possibly lease a car and that the Jeep Liberty has a big rebate to absorb some of the costs. I know nothing about leasing..can anyone help me or offer any suggestions? Thank you so much
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings lindamarie3023. Your least expensive option would be to continue driving your current vehicle until you are less upside down on it. Not only will you save money by doing so, but you also will give yourself time to repair your damaged credit.

    If you absolutely have to get a new car now, you need to learn exactly how leasing works prior to negotiating with dealers to keep from being taken advantage of. You definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    Check out these articles and let me know if you have any specific questions.

    Car_man
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  • vezeuvezeu Posts: 1
    I am negotiating a lease for the Jeep Liberty and the dealer told me that besides the monthly fee that I calculated using the Edmunds.com method, I need to pay:
    "bank fee" about $700"motor vehicle" fees (registration?) about $340"dealership costs" about $270
    Is this normal?
  • smo1345smo1345 Posts: 2
    Does any one know what the residual on a 27 month lease (2k per year currently is for a Jeep Liberty Limited (MSRP 30k)
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi vezeu. Chrysler Financial Charges a $700 acquisition fee on every vehicle that it leases. Individual dealers do not have the authority to waive this charge. A motor vehicle / registration fee is a normal charge as well. The "dealership costs" charge is a different matter. I personally like to look at vehicles' out-the-door prices when negotiating deals. The out-the-door price is the price that the dealer is charging for the truck that you want, including all fees like the $270 doc fee. If the total price that you are quoted for the truck that you want is less at this dealer than it would be elsewhere it doesn't matter how the price breaks down. However, if you feel as though you may be able to beat the total price it may be in your best interest to comparison shop a little bit.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi smo1345. Chrysler Financial's current 30 month (I haven't seen the 27 month number), 15,000 mile per year buy rate lease money factor and residual value for the 2007 Jeep Liberty Limited 4WD are .00306 and 43%, respectively.

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  • drechelledrechelle Posts: 1
    Hi Car_man,

    Can you tell me what Chrysler Financial's current 36 & 48 month, 12k mile/year, buy rate lease money factor and residual value is for the 2007 Liberty Limited 2WD is?

    Thanks! :)
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi drechelle. Chrysler Financial's buy rate lease money factor and residual value for a 36 month lease of a 2007 Jeep Liberty Limited 2WD with 12,000 miles per year are .00302 and 40%, respectively. The numbers for an otherwise identical 48 month lease are .00382 and 35%. As you can see this truck's lease program is not very attractive right now. If I was in the market for one, I personally would finance it using the special offer of 0% for 5 years plus $1,000 bonus cash instead of leasing it.

    Car_man
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  • I am new to leasing but feel like I have researched the process well. However, I don't understand why/how there are "lease specials" advertised presenting a Jeep Liberty, 2500 down, 24 mos, at 49/mo. Negotiating the down payment and adding to the monthly rate would still be way BELOW standard calculations. Is this all just a ploy to get one to call the dealer and/or be interested in a vehicle they would not otherwise consider? Please explain.

    Thanks
  • Welcome clairenmason. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    It sounds like you are talking about a teaser lease payment that a specific dealership in your area is advertising. Dealers offer advertise unrealistically low monthly payments on vehicles to suck consumers through the door. Chrysler's official advertised lease payment is currently $$309 per month for a 36 month lease of a 2007 Liberty Sport 2WD with $0 down and 10,500 miles per year. The payment for an otherwise identical lease of a 2008 model is $329 per month. These payments will give you a much more realistic idea of how much you will have to pay to lease a Liberty right now. You may be able to beat them by a little if you negotiate an excellent selling price.

    Car_man
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