MF and RV for 2018 Jeep Grand Cherokee SUMMIT in MD

csdinnap_mdcsdinnap_md Member Posts: 10
edited February 2018 in Jeep
Can you provide the current Money Factor and Residual Value Percentage for a 2018 Jeep Grand Cherokee SUMMIT in Maryland (zip 21403)?

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  • kyfdxkyfdx Moderator Posts: 197,629

    Can you provide the current Money Factor and Residual Value Percentage for a 2018 Jeep Grand Cherokee SUMMIT in Maryland (zip 21403)?

    .00001 MF and 47% residual for 36/15
    Assuming AWD

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  • csdinnap_mdcsdinnap_md Member Posts: 10
    Thanks kyfdx.
    4x4 and 36 month term is correct (sorry I omitted that detail).
    Was thinking 12K miles, but the 15K you noted is quite acceptable. Also great to have that residual %-age for my budgeting.
    A follow-up question:
    Is the .00001 MF you noted from "Chrysler Financial" or a 3rd party leasing agent?
  • csdinnap_mdcsdinnap_md Member Posts: 10
    KYDFX....
    Looking at my resulting calculations using the MF and residual detail you provided earlier...
    Just to confirm, did you mean .00001 ... or .0001 MF?
  • MichaellMichaell ColoradoModerator Posts: 193,042

    Thanks kyfdx.
    4x4 and 36 month term is correct (sorry I omitted that detail).
    Was thinking 12K miles, but the 15K you noted is quite acceptable. Also great to have that residual %-age for my budgeting.
    A follow-up question:
    Is the .00001 MF you noted from "Chrysler Financial" or a 3rd party leasing agent?

    Our numbers come from Chrysler Financial.

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  • MichaellMichaell ColoradoModerator Posts: 193,042

    KYDFX....
    Looking at my resulting calculations using the MF and residual detail you provided earlier...
    Just to confirm, did you mean .00001 ... or .0001 MF?

    .00001 (4 zeros)

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  • kyfdxkyfdx Moderator Posts: 197,629

    Thanks kyfdx.
    4x4 and 36 month term is correct (sorry I omitted that detail).
    Was thinking 12K miles, but the 15K you noted is quite acceptable. Also great to have that residual %-age for my budgeting.
    A follow-up question:
    Is the .00001 MF you noted from "Chrysler Financial" or a 3rd party leasing agent?

    Add 2% for 12K/yr

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  • csdinnap_mdcsdinnap_md Member Posts: 10
    Thanks to both for the details and the clarifications.
  • csdinnap_mdcsdinnap_md Member Posts: 10
    Gentlemen....hopefully this is my final query regarding the MF.

    I understand that to estimate an equivalent APR for a given MF, you multiply the MF x 2400.

    If that is the case, then your above noted MF of .00001 x 2400 = 0.02% equivalent APR.
    CORRECT?

    If I am completely missing the boat ... please set me straight with the correct calculation scenario.
    Thanks.
  • MichaellMichaell ColoradoModerator Posts: 193,042

    Gentlemen....hopefully this is my final query regarding the MF.

    I understand that to estimate an equivalent APR for a given MF, you multiply the MF x 2400.

    If that is the case, then your above noted MF of .00001 x 2400 = 0.02% equivalent APR.
    CORRECT?

    If I am completely missing the boat ... please set me straight with the correct calculation scenario.
    Thanks.

    You are correct, but converting the MF into an APR doesn't really help you with the lease calculations, it simply gives you a point of reference.

    But, effectively free money. The MF on my Jetta lease is .00005, and the total rent charge for 36 months is just over $50.

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  • csdinnap_mdcsdinnap_md Member Posts: 10
    I do realize that the MF to APR calculation only yields a point of reference (as you noted).
    However, I wanted to be certain I was not calculating incorrectly when I arrived at the 0.024% APR.
    It seemed so low I thought I was making a calculation error.

    I agree that a .00001 MF (~ .024% APR ;) ) IS like free money.

    Thanks much for the confirmation!
  • rubbb8768rubbb8768 Member Posts: 6
    I am interested in leasing a 2018 Grand Cherokee but understand that Chrysler Financial doesn’t allow lease transfers, but US bank will.
    Would you have MF and residual for US Bank? 
    36 or 39 10k 11234 zip code
    thank you 
  • kyfdxkyfdx Moderator Posts: 197,629
    rubbb8768 said:

    I am interested in leasing a 2018 Grand Cherokee but understand that Chrysler Financial doesn’t allow lease transfers, but US bank will.
    Would you have MF and residual for US Bank? 
    36 or 39 10k 11234 zip code
    thank you 

    We don't have US Bank numbers.

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  • csdinnap_mdcsdinnap_md Member Posts: 10
    Assuming AWD Last week, you provided a MF for Chrysler Financial (assume that includes Chrysler Capital).

    Given that some banks have raised their APR on car loans over the past week or so, has there been any change in the MF used by Chrysler Financial/Capital?
  • MichaellMichaell ColoradoModerator Posts: 193,042

    Assuming AWD Last week, you provided a MF for Chrysler Financial (assume that includes Chrysler Capital).

    Given that some banks have raised their APR on car loans over the past week or so, has there been any change in the MF used by Chrysler Financial/Capital?

    Not for February. New programs will be released next week. Be interesting to see if there is a general upward trend on the MF across all manufacturers based on the economy and the predicted increases from the Fed.

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  • csdinnap_mdcsdinnap_md Member Posts: 10
    Michaell said:

    Assuming AWD Last week, you provided a MF for Chrysler Financial (assume that includes Chrysler Capital).

    Given that some banks have raised their APR on car loans over the past week or so, has there been any change in the MF used by Chrysler Financial/Capital?

    Not for February. New programs will be released next week. Be interesting to see if there is a general upward trend on the MF across all manufacturers based on the economy and the predicted increases from the Fed.

    I agree. If you see something next week, especially if it indicates any possible trend, please consider sharing it.
  • csdinnap_mdcsdinnap_md Member Posts: 10

    Interesting that in late February, 2/28 two dealers tried to give us a Chrysler Capital lease with a .043 MF instead of the .00001 MF.... even with an exceptional credit rating.

    We stood our ground and in the end got the .00001. 

    Was this perhaps a tactic to earn the dealership a better end of month bonus from Chrysler Capital?

  • kyfdxkyfdx Moderator Posts: 197,629

    Interesting that in late February, 2/28 two dealers tried to give us a Chrysler Capital lease with a .043 MF instead of the .00001 MF.... even with an exceptional credit rating.

    We stood our ground and in the end got the .00001. 

    Was this perhaps a tactic to earn the dealership a better end of month bonus from Chrysler Capital?

    Chrysler Capital allows dealers to markup the rate by .00042, for extra profit. I'll let you do the math on that.

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  • csdinnap_mdcsdinnap_md Member Posts: 10
    Profit that I assume goes to the dealership...even though it C.Capital that finances the actual lease?
  • kyfdxkyfdx Moderator Posts: 197,629

    Profit that I assume goes to the dealership...even though it C.Capital that finances the actual lease?

    Yes.. not sure exactly how it works..

    But, the dealership likely gets 70% of the extra proceeds from the markup, but all upfront from CC.
    (or something like that)

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