Jeep Wrangler Lease Questions

asd302

2008 Sahara Unlimited 4x4

MSRP $31075
Sale price $28205
MF .00254
RES 72%
Terms 27mo/12k
Due at Signing $527

Payment $393 includes 9% tax

Should I pull the trigger??

hondamattnj

That looks like a pretty good deal. I can't get dealers in my area to discount less than $1000 off of sticker.

kingsmen99

2008 Wrangler X

MSRP $24880
Advertised Dealer Discount -$1461 bringing it to $23419

MF and RES, 15k/yr for 36 mo's, $1k down?

Anyone think I can get the sale price down more?

CarMan@Edmunds

You're very welcome, Scott .

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CarMan@Edmunds

No problem, jeepgirl25. I'm glad that I was able to help you out.

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CarMan@Edmunds

Hi hondamattnj. Here's the information that you're looking for. Chrysler Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Jeep Wrangler X with 15,000 miles per year are .00265 and 67%, respectively. The numbers for an otherwise identical lease of an '08 Jeep Wrangler Unlimited X 4WD are .00265 and 66%. If you are a current owner or lessee of a Chrysler, Dodge, or Jeep vehicle, make sure to take advantage of the $750 owner loyalty cash that is currently available on this truck.

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kingsmen99

Car_Man,

2008 Jeep Wrangler X

MSRP $24880
Purchase Price $23250

Quoted by dealer:

LMF .00325 / 69% residual
$1500 down
Monthly payment in the $330 range

Bologna?

Here's what I don't get? On the Jeep website, using Chrysler Finanacial "estimates" plugging in the same numbers (term, miles, down pymt) w/ a sale price actually higher than the negotiated one, I get $270/mo.

Total hose job?

Is there any conceivable/legit reason there MF is higher than what I've seen listed?

woodhout

Car_Man,

I am interested in leasing a 2008 Jeep Wrangler Unlimited 4x4, either Sahara or Rubicon. Can you please provide the current MF and residuals for 12k/yr and 27 months lease?

Also, what is Chrysler's current policies for existing Lessees who lease an additional vehicle from DCFS in regards to first payment, security, and turn-in fee (when not entering into another DCFS lease)?

Lastly, I get a Chrysler employee discount. What is the order of precedence that I should use in figuring the lease as I take into account rebates, employee discount, etc when figuring residual and applying MF?

Thanks!

tvacek36

kingsmen99,

Just signed a lease 4dr Unlimited X 4WD

Window = $26,405
Purchase = $25,000
39 mo, 12,000 with the following factors

Residual = 67%
MF = .00286
Down Pay = $1141

Monthly Payment = $276.99

Got hosejob offers simular to yours at 3 other dealerships, then just gave the last one the numbers that had previously been posted by buyers (67% res, .00317 mf, $300 over invoice) and they came back with those numbers excactly and 200 over invoice (25,100). Told them I would pay right then if they knocked my payment down $30/mo, they did $28 and I'm rollin in a wrangler now. Ended up getting 100 under invoice and .00286. That was without any incentives or discounts. Made it easier as I emailed them the deal first before even going in to cut the high offer BS out of it. Other dealerships said the jeep site wasn't "accurate" and that it was underpriced. The one bought at said its pretty accurate and shouldn't sway much. Jeep website is @ .00317 mf & 67% res.

Something is up with your numbers b/c if you type them into a Lease Calc (leaseguide.com) your payments w/o tax with the numbers you gave should be $220/mo.

hondamattnj

That's a great deal when you think about it. A $26,000 car for $276 a month for 39 months. Regardless of the relationship to invoice. I think I'm going to have to pull the trigger on one pretty quick. Congrats and enjoy the car. What color did you get?

tvacek36

Yeah, I couldn't turn that deal down. Its black...was looking for a white one but unless you can afford a Rubicon its pretty dam hard to find one. Ryan Scheckler (pro skateboarder) has a sick white one, white hard top(can't get from factory), all juiced up. More of a pretty ride than anything but its pretty sick. Couldn't find white (they used to sell Sahara's in white w/white hard top) but no more, so I had to go black w/black. What you looking into? Its hard to tell if the deals will get better or worse as Gas is going up the 2 hole, but summer is around the corner and the removable top will have the Wrangler getting a lot more looks. Definately a great buy though as there is nothing out there like it. Had a 92 Wrangler for 9 yrs and loved it, had a car for a bit over a year and couldn't take it anymore, had to go back to the roots and couldn't be happier. Good Luck with your dealing

ggrg0515

After shopping around for the last week the best price I can get on a loaded 4-door rubicon is as follows.

MSRP: 35,025
Sell Price: 33,000
Residual: 63% (36 month 15K miles)
MF: .00296

$490/mo

First + Tax (NY 7.75) + Fees = 1996.79

The only thing I don't get is that I was quoted different MF and residuals at different jeep dealers. Best MF quoted was .0018 but they would only come 1000 down on the MSRP. Best residual was 65%but again only come off MSRP 1500 so there payments were not quite as good. Are they just playing with the MF and residual but really discounting car more?

All quotes were on 15K/yr and 36mo.

Any thoughts or help appreciated esp if Car_man could chime in with May's numbers?!?!

hondamattnj

Sounds like they may have been buying down the money factor with the extra profit they had from only discounting the car $1000-1500.

ggrg0515

That's what I was thinking but what about the overall deal anyone?

CarMan@Edmunds

Here's the information that you're looking for, woodhout. Chrysler Financial's current buy rate lease money factor and residual value for a 36 month lease (I haven't seen the 27 month program) of a 2008 Jeep Wrangler Unlimited Rubicon 4WD with 15,000 miles per year are .00276 and 63%, respectively. The money factor for an otherwise identical lease of an '08 Wrangler Unlimited Sahara 4WD is the same, but its residual value is 65%.

Chrysler Financial no longer charges security deposits on leases, regardless of whether you are a returning lessee or not. I'm sure that it will waive its $425 disposition fee for a returning lessee, but I doubt that it will waive its $700 acquisition fee.

Vehicles' residual values are based upon a percentage of their full MSRPs, including the destination charge and any factory-installed options. The formula that is used to calculate lease payments is outlined in the following article: Calculate Your Own Lease Payment.

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hondamattnj

Does anyone know what the credit score ranges are for each Chrysler Lease tier?

jeepbuyer

Looking for MFs and Residuals:

Wrangler X and X Unlimited
39mo/15k

The sales guy keeps trying to push me into leasing a Sahara saying it leases better. But I'm not sure.

flanes

jeepbuyer,

I just picked up my new lease on Jeep Wrangler Unlimited Saharra...had a little more on it then I expected. I first visited with our local dealers and received a less then desirable quote. So, decided to do everything on line and found that to work out.

MSRP $31,750
36 Month Lease
15K Miles
Down Payment: $1,350
Monthly Payment: $350.12

Sorry I don't have the Money Factor, Residual Details, etc. I believe they just introduced a $1,000 rebate for the month of June.

Hope this helps!

hondamattnj

Can you give us a breakdown of what the down payment included?

CarMan@Edmunds

Greetings to the appropriately named jeepbuyer. Chrysler Financial's current buy rate lease money factor and residual value for a 39 month lease of a 2008 Jeep Wrangler X with 15,000 miles per year are .00294 and 65%, respectively. The money factor for an otherwise identical lease of an '08 Wrangler X Unlimited 4WD is the same, but its residual value is 64%. The Wrangler Sahara's money factor is the same as well, but it probably leases a little better because its residual value is a little higher at 67%.

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mander30

Can someone tell me what the mf and residual are on a 2 door Sahara and Rubicon on a 24/15k lease also a 27/15k. Also, according to the jeep website they have $2,000 in lease cash.....anyone confirm this? Thanks in advance.

ilovejeeps

Hey Hondamattnj,

When you leased your Jeep online, did you go through Jeep.com or another website? I have been interested in leasing a Jeep, however like you said, the local deals have been way less than desirable. I was also told that there were not any rebates on the Wrangler, nor were there any coming out anytime soon. Where did you see that they were offering a $1,000.00 rebate? Did your 4WD Sahara Limited have the Navigation and Dual Top options included?

Thanks for your time!

~Lea

hondamattnj

I've decided to just wait for a 2009 Wrangler instead of the 2008.

There is a $1000 rebate in certain markets (mainly west coast) on the Unlimited and $500 on the coupe. Carmax in LA is selling Wranglers for basically Invoice minus rebate minus holdblack plus a couple hundred bucks.

ddelayo

What dealership did u get that deal at? City and state also please Thx Dave

rlowrie1

Any ideas on the July resid/MF for 36 mo/12K mile Sahara 4WD unlimited? Dealer is pushing to get 1 more out the door for June but not sure I am getting any sort of deal. Dealer did not give breakdown yet but quoted about $475 for Sahara Unlimited with Soft Top, MyGig, Automatic, Tow Group. Seems high.

CarMan@Edmunds

Hi mander30. Chrysler Financial's current buy rate lease money factor and residual value for a 24 month lease of a 2008 Jeep Wrangler Sahara 2-Door 4WD with 15,000 miles per year are .00281 and 70%, respectively. Jeep was providing $2,000 lease cash on this truck in its Southeast region in June, but I am not sure if this offer was extended into July.

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CarMan@Edmunds

Hello rlowrie1. Chrysler Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Jeep Wrangler Sahara Unlimited 4WD with 12,000 miles per year are .00292 and 65%, respectively.

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weswaz

I was shopping a lease over what may be the last weekend chrysler financial offers leases. Here's what I was quoted for a 2008 Sahara Unlimited 2x4, automatic, duo tops, trailer package, MyGIG and Navi:

MSRP: 30715
Base Cap: 28395
Acquisition: 700
Total: 29095

DMV and Tire Fee: 268
Cap Reduction: 236 (Jeep's offering a $1000 lease cash promotion right now, not sure why my cap reduciton is only 236).
Adjusted Cap Cost: 28858

Months: 36
Miles: 20,500
Money Factor: .00292
Residual: 64% = 19657

Payment: 398 + tax 30, $428.

Base Cap seems good, but the $700 acquisition on top of a high 7.01% interest rate seems excessive. Where did my $1000 lease cash go? Will chrysler financial eat it up, or is the dealer trying to pocket it? Without lease cash, this would be a $465+ a month lease vehicle... with a 64% residual. Please confirm that something stinks!

walrusjk

I've read some previous posts and notice that there were some awesome and horrible lease rates for the unlimited. My dealer in So Fla offered me the following lease rate for 39 mos:

2008 Unlimited X (4x2), Hardtop, Power pkg, auto
MSRP: $26,200
Price: $25,500
Miles: 10,500/yr
Out of pocket $3000 TOTAL
monthly pmt= $323/mo (tax included)

The sharks down here are tougher to spear so i like to hear some feedback if this is a deal.

Thanks!

weswaz

RE: my post above, it's 10,500 miles a year, not 20,500.

As for lease rates, chrysler financial is not offering leases anymore effective 8/1/08. Based on what I've been quoted, they've already priced themselves out of the leasing market.

Your deal with $3000 out of pocket, essentially equates to $399 a month with $0 out of pocket. I received a better quote today for the vehicle I described in a post above, $376 + tax=$405.

walrusjk

Thanks on the update. $405 is with $0 out of pocket? What city/state are you shopping in? If that's the case, I think I should be able to get the low $300s with $0 out of pocket for that car. I just think the people in the Miami market make it tough to deal for these cars!

weswaz

I am in Southern California. Jeep is running a $1000 lease cash incentive out here right now.

Use leasguide.com to help "ballpark" what your payment should be.

smitro

I was looking at a Unlimited Sahara and the salesmen informed me that Chrysler was going to discontinue leases for Wranglers starting in August. Is he just trying to get a sale out of me or is there some truth to this?

walrusjk

How much was your total out-of-pocket?!?

smitro

Here is what I have been offerred, want to get people's thoughts.

Jeep 2008 4x4 Sahara Unlimited
No MyGig/nav. system

Can't remember the cap or recovery % due to myriad of options that were shown to me.
$1,000 inception fee
Additional $1,000 down
Includes $1,000 lease cash rebate
36 mo. lease

$430/mo. including sales tax. This deal doesn't seem exceptional but my feeling is that it is ok. Your thoughts?

kyfdx

Chrysler is dropping leasing, altogether... It's all over the news...

CarMan@Edmunds

Yep, Chrysler no longer offers leases on new vehicles. Finance payments are almost always much higher than lease payments. I have a feeling that the lack of leasing is going to be a big problem for Chrysler. Traditionally, it has had the highest lease penetration rate of the "Big 3" manufacturers. We certainly are living in interesting times.

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djhalptert

If they are dropping leases altogether why does the Jeep Wrangler website as of 1 minute aga say they have $2500 in lease cash available on the 2008 Wranglers???? What is the deal??? Are they leasing Wranglers?

CarMan@Edmunds

Hi djhalptert. Do you have a link to the page that mentioned the lease cash. Chrysler is definitely no longer offering leases through Chrysler Financial.

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chuck68516

http://www.jeep.com/dma/616/index.html?zip=68516&family=wrangler#family=wrangler- - &zip=68516

Maybe this is what djhalptert was referring to. I saw that the other day also. I assumed it was maybe just a leftover tab from the website and was mistakenly not updated.

CarMan@Edmunds

Thanks chuck68516. I believe that Chrysler is referring to a lease through an independent bank. It no longer offers leases, even standard ones, through Chrysler Financial, but it is providing special incremental cash incentives for leases through outside banks.

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scott60625

I'm looking at the '10 Wrangler 2-door Sahara models. Anyone have insight on what the money factor & residual is? Thanks for your help!

CarMan@Edmunds

Hi scott60625. I believe that the only Wrangler model that Jeep is providing lease support on right now is just the base Sport 2 Door (an extremely attractive 0.15%). If you want to lease any other variant of this truck, you will have to use GMAC (that's who Chrysler runs its leases through now, weird huh?) standard lease rates, which aren't great. Its standard rates vary by region and credit score, but you're probably looking at 5.5% to 6% at best.

GMAC's current residual value for a 36 month lease of a 2010 Wrangler Sahara 2 Door with 15,000 miles per year is 48%.

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krwest1

Car_man,

What is the money factor for the Islander version of the Wrangler Sport? Is it 0.15% also? What is the 36 month/12k mile residual for the Sport with and without Islander package? Also, what is the acquisition fee for GMAC?

Thanks,

Kevin

CarMan@Edmunds

Hi Kevin. Chrysler is currently only providing lease support, the 0.15% lease rate, on the Sport 2 Door version of the Wrangler. I suspect that the addition of the Islander package does not have an impact upon this truck's residual.

I believe that GMAC charges an acquisition fee of $795 on every vehicle that it leases.

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krwest1

Thanks Car_man. I went ahead and leased a Wrangler Sport w/ S Package at the end of last month. The total interest over the life of the 36 month lease is $82. The acquisition fee was $795, which is higher than it used to be, but it is what it is.

The one thing that I found odd is that the lease-end purchase price on the contract is $14,691.20, which is $2500 higher than the residual of $12,191.20. The finance manager said that this is something that GMAC is doing now on their Jeep leases. Have you heard of this before? I have always turned in my leases, so this isn't too concerning for me, but I am still curious.

solo1969

krwest1, if is not to much to ask, how did you pay at time of signing in order to have a monthly lease of $82......

krwest1

I didn't say that the monthly payment is $82. I said that the total interest over the life of the lease is $82.

CarMan@Edmunds

No problem, krwest1. It's funny that you mention the fact that your vehicle's purchase option price is $2,500 higher than its residual value. We were just discussing this issue internally a week or two ago. It really is an unusual policy, but it does indeed seem to be real.

I can see the benefit of doing so from the manufacturer's perspective...they would rather have a lessee purchase or lease something new than buy out their old vehicle and continue to drive it for a number of years. Still, I would think that this policy would upset quite a few lessees. Interesting.

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joshmu89

My lease is coming due 10/11/10. I have an '07 Silver Wrangler X with the hard top and larger tires, etc. It currently has around 32,500 miles with my lease allowance at 34,150. So I will be over a 1,000 or 2,000 by turn in time. My question is whether I should buy it at $15,150 plus $150 fee (I've seen similar models listing for upwards of 20k). Or turn it in for $450 plus excess mileage ($200-300 extra). I love the Jeep but ready to part ways because of fuel efficiency and the fact that my job requires me to drive to client's houses and I am looking at sedans now. A few notes, I was in an accident, and the front axle was replaced (drives great but may be on carfax report). Just trying to make a sound financial decision here. Any suggestions??