Wrangler Unlimited Willys Wheeler 4x4 Lease Question

timconner

Hello - Looking for some advice as to whether or not I am getting a good lease option for my hopefully new Jeep Wrangler!

I went to my local dealer the other day and was quoted the following,

Willy Wheeler
MSRP $37,285
0 Down
Fee's of $2478 (I assume this is taxes and other fee's but not too sure. I want to make sure this isn't a hidden down payment)
$343 monthly payments
Destination charge waived
12,000 miles a year
36 month lease term

The configuration of the Wrangler is the base Willy options with Automatic Transmission and a Premium Soft Top. Nothing too crazy.

Does this seem like a good deal? I don't really have much to compare this number to.

kyfdx

timconner said:

Hello - Looking for some advice as to whether or not I am getting a good lease option for my hopefully new Jeep Wrangler!

I went to my local dealer the other day and was quoted the following,

Willy Wheeler
MSRP $37,285
0 Down
Fee's of $2478 (I assume this is taxes and other fee's but not too sure. I want to make sure this isn't a hidden down payment)
$343 monthly payments
Destination charge waived
12,000 miles a year
36 month lease term

The configuration of the Wrangler is the base Willy options with Automatic Transmission and a Premium Soft Top. Nothing too crazy.

Does this seem like a good deal? I don't really have much to compare this number to.

What state/tax rate?
What is the selling price or adjusted CAP cost?

Hard to be sure of anything,without all the numbers

timconner

The state would be NY with zip code 10603.

I'm actually trying to get myself familiarized with the terms but the MSRP the deal is being based off of is $37,285.

Does that information make sense?

Thank You

kyfdx

timconner said:

The state would be NY with zip code 10603.

I'm actually trying to get myself familiarized with the terms but the MSRP the deal is being based off of is $37,285.

Does that information make sense?

Thank You

Standard MF and 70% residual.

Is $2478 the total amount due at signing?
If so, that is probably about right for 1st payment, acquisition fee, sales tax and DMV/doc fee.

Are you sure it isn't the acquisition fee that is being waived, instead of destination?

To get to your payment, using .00213 as the Standard MF, the selling price/CAP cost would have to be about $33,850. That seems to be a good deal on an Unlimited.

Ask them for a breakdown of the $2478, and the adjusted CAP cost on the quote.

timconner

I am asking for the breakdown of $2478 now. I was able to bring down the lease payments to around $300 from $355 which is a bit better but feel like I'm not understanding the whole picture yet.

So selling price/CAP is the adjusted value of the vehicle which myself and the dealer agreed on? I assume the lease is based off the CAP rather than the MSRP of $37,285.

kyfdx

timconner said:

I am asking for the breakdown of $2478 now. I was able to bring down the lease payments to around $300 from $355 which is a bit better but feel like I'm not understanding the whole picture yet.

So selling price/CAP is the adjusted value of the vehicle which myself and the dealer agreed on? I assume the lease is based off the CAP rather than the MSRP of $37,285.

Adjusted CAP is the selling price, plus any additional amounts not paid upfront (fees, etc)
The residual is a percentage of the MSRP (which is why MSRP is important).

If they've already dropped the price by $55/mo. with the same amount upfront, that's over $2000, which is substantial.

timconner

It definitely is substantial.

I feel like $300 a month plus $2478 is a good deal but still skeptical a bit.

Still trying to understand what is included in the $2478.

timconner

The selling price is $35,419.

The $2478 includes (first month, bank fee and tax).

kyfdx

timconner said:

It definitely is substantial.

I feel like $300 a month plus $2478 is a good deal but still skeptical a bit.

Still trying to understand what is included in the $2478.

At some point, you have to look at the payment vs. the value of the vehicle.
Even if you amortize the upfront over the lease, your monthly cost is only $360.

On a $37K MSRP vehicle.

Don't you think that's cheap?