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Jeep Liberty Lease Questions

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  • 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.

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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.

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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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