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MF and RV for Jeep grand cherokee

lalolalo Posts: 18
edited August 26 in Jeep
Hello, may I have the residual value and money factor for a 2019 jeep grand cherokee 4X4 limited luxury II group. Zip code 27806
36/10,000 and 36/12,000

I have an existing lease with Chrysler Capital and would like to know if there are any loyalties and or rebates/incentives as well.

I am currently getting a quote from a broker for $449 - 10000 miles and $463 -12,000 miles. Does this sound like a reasonable/good deal?
Thank you so much.
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Answers

  • MichaellMichaell ColoradoPosts: 121,216
    lalo said:

    Hello, may I have the residual value and money factor for a 2019 jeep grand cherokee 4X4 limited luxury II group. Zip code 27806
    36/10,000 and 36/12,000

    I have an existing lease with Chrysler Capital and would like to know if there are any loyalties and or rebates/incentives as well.

    I am currently getting a quote from a broker for $449 - 10000 miles and $463 -12,000 miles. Does this sound like a reasonable/good deal?
    Thank you so much.

    36/12
    .00007 and 50%
    $1250 incentives

    No info on loyalty

    Now that you've found this site, you can do the same thing the broker does, and save the broker's fee.

    Need the MSRP and cap cost to sort out the offer.

    How much is due at signing for those quotes?

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • lalolalo Posts: 18
    Hi it turns out that this information is for a Limited X and the msrp is $50, 730 and the capitalized cost is 48,800 as per broker
    and 1650 is due at signing for upfront taxes, dmv fee and 1st month's payment

    please give me the RV and MF for the Limited X, sorry I asked dealer for a Limited 4x4 but he couldn't find it. was wondering if this is a good deal because I would have to give up the ventilated front seats and heated back seats if I go with the X. Thank you
  • MichaellMichaell ColoradoPosts: 121,216
    lalo said:

    Hi it turns out that this information is for a Limited X and the msrp is $50, 730 and the capitalized cost is 48,800 as per broker
    and 1650 is due at signing for upfront taxes, dmv fee and 1st month's payment

    please give me the RV and MF for the Limited X, sorry I asked dealer for a Limited 4x4 but he couldn't find it. was wondering if this is a good deal because I would have to give up the ventilated front seats and heated back seats if I go with the X. Thank you

    Limited and Limited X share the same program numbers.

    Can you live without those features for the next 3 years? If not, keep searching for a Limited.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • lalolalo Posts: 18
    Hi Michael,

    Maybe not the ventilated seats... I have been searching, but hard to find near by.

    If it is a good deal based on the cap cost and the MSRP you asked for, I may consider living without them. Please let me know.

    Also the broker quoted the MF as .0007 vs. .00007 as you quoted. And RV at 51%

    do the differences chage anything?
    Thanks
  • MichaellMichaell ColoradoPosts: 121,216
    lalo said:

    Hi Michael,

    Maybe not the ventilated seats... I have been searching, but hard to find near by.

    If it is a good deal based on the cap cost and the MSRP you asked for, I may consider living without them. Please let me know.

    Also the broker quoted the MF as .0007 vs. .00007 as you quoted. And RV at 51%

    do the differences chage anything?
    Thanks

    51% is the 10K residual. Make sure you sign for the number of miles you need, not what the dealer decides for you.

    I can't help with what features you can and cannot live without.

    MF can be marked up .00042; if it's higher, it could be a different bank (Ally and US Bank are popular alternatives). If that's the case, the incentives are usually much higher, as well.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • lalolalo Posts: 18
    ok thanks,
    Just so I'm clear. Are you saying that the money factor can be marked up by the dealer but not higher than .00042 when dealing with Chrysler Capital although the money factor is listed as .00007 for the vehicle?

    I was approved thru Chrysler Cap and have an existing lease with them that is ending now.

    I have a 799 credit score, is the .00007 for consumers with a very high credit scores? is there a range?
  • MichaellMichaell ColoradoPosts: 121,216
    lalo said:

    ok thanks,
    Just so I'm clear. Are you saying that the money factor can be marked up by the dealer but not higher than .00042 when dealing with Chrysler Capital although the money factor is listed as .00007 for the vehicle?

    I was approved thru Chrysler Cap and have an existing lease with them that is ending now.

    I have a 799 credit score, is the .00007 for consumers with a very high credit scores? is there a range?

    The .00007 is the MF for top tier credit, which you certainly qualify for.

    The .00042 is the max markup the dealer can add to that MF, for extra profit.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • lalolalo Posts: 18
    Thanks so much for your speedy response and explanations. I appreciate it.
    I would like to know what the money factor is on my existing lease. Can you give me a formula to use to figure that out by using the numbers on my contract? The MF is not listed on the contract.

    I had top tier credit back then as well but always felt like the numbers were inflated. It will also help me quickly know which money factor is being used for my new lease. Thanks.
  • MichaellMichaell ColoradoPosts: 121,216
    lalo said:

    Thanks so much for your speedy response and explanations. I appreciate it.
    I would like to know what the money factor is on my existing lease. Can you give me a formula to use to figure that out by using the numbers on my contract? The MF is not listed on the contract.

    I had top tier credit back then as well but always felt like the numbers were inflated. It will also help me quickly know which money factor is being used for my new lease. Thanks.

    If you can redact any personal information and post a copy of the contract, we can evaluate it.

    In the meantime, you can look here:
    https://www.edmunds.com/car-leasing/calculate-your-own-lease-payment.html

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • lalolalo Posts: 18
    Ok thanks



    This is for a 2016 jeep grand Cherokee Limited 4x4 luxury group II with 20 inch wheels
  • MichaellMichaell ColoradoPosts: 121,216
    lalo said:

    Ok thanks



    This is for a 2016 jeep grand Cherokee Limited 4x4 luxury group II with 20 inch wheels

    Does the sheet show which bank is funding the lease?

    The popular choices are Chrysler Capital, Ally or US Bank.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • lalolalo Posts: 18
    Chrysler capital
  • MichaellMichaell ColoradoPosts: 121,216
    lalo said:

    Chrysler capital

    Is the MSRP still $50,730 as you posted earlier?

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • lalolalo Posts: 18
    Remember this is my existing lease and I wanted to know what was the money factor I paid as my credit was tier 1 in 2016 as well. Whatever the msrp is on the contract is what it was at that time

    How do dealers profit from marking up the MF ? Doesn't the payment go directly to the bank?
  • MichaellMichaell ColoradoPosts: 121,216
    lalo said:

    Remember this is my existing lease and I wanted to know what was the money factor I paid as my credit was tier 1 in 2016 as well. Whatever the msrp is on the contract is what it was at that time

    How do dealers profit from marking up the MF ? Doesn't the payment go directly to the bank?

    Why is this important to you? Your lease is almost up.

    Plus, we've been averaging 200+ posts a day from people looking for numbers for their next lease. We moderators need to focus our attention appropriately.

    Any MF markup is split by the bank and the dealer.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • lalolalo Posts: 18
    Hi Michael
    I have been very clear with my questions and I responding to what you asked me to do. I asked for a formula to do it myself. You told me to post the contract. Sorry if you misunderstood



    I am concerned because I dont want to be misled and I want to understand how to read the contract and recognize if I am getting the correct MF .00007 as it is not listed on the contract.

    I am in the process of getting my next lease as I type
    But if I cant read the contract properly when I get it then I wont recognize errors.
  • lalolalo Posts: 18
    In addition I am at the same dealership so I would like to know if I was taken advantage of by a professional before leasing with them again.
  • MichaellMichaell ColoradoPosts: 121,216
    lalo said:

    Hi Michael
    I have been very clear with my questions and I responding to what you asked me to do. I asked for a formula to do it myself. You told me to post the contract. Sorry if you misunderstood



    I am concerned because I dont want to be misled and I want to understand how to read the contract and recognize if I am getting the correct MF .00007 as it is not listed on the contract.

    I am in the process of getting my next lease as I type
    But if I cant read the contract properly when I get it then I wont recognize errors.

    Do you have a quote from the dealer for the new lease?

    Ask them to provide you with a copy of the lease worksheet - not the contract - and we can evaluate. The worksheet should have the MF disclosed on it.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

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