Determination of Money Factor and residual value

Katman367Katman367 Member Posts: 2
edited March 2021 in Jeep
I am attempting to lease a 2021 Grand Cherokee Jeep Limited 4X4. with an MSRP of $43,670. Considering I have an excellent score who determines the money factor and how can I learn of the residual value so I can make a more viable calculation. On the previous lease, the financial institution had a 3.6% interest rate. Would that be the same as a .0015 money factor? 2400/3.6 = .0015
Tagged:

Comments

  • MichaellMichaell Moderator Posts: 265,203
    Katman367 said:

    I am attempting to lease a 2021 Grand Cherokee Jeep Limited 4X4. with an MSRP of $43,670. Considering I have an excellent score who determines the money factor and how can I learn of the residual value so I can make a more viable calculation. On the previous lease, the financial institution had a 3.6% interest rate. Would that be the same as a .0015 money factor? 2400/3.6 = .0015

    You can ask us for those values; but, we only have the Chrysler Capital numbers available.

    Dealers can use alternate banks, some of which represent their MF as an APR rather than a decimal value.

    What is your location?
    What lease term and mileage?

    Edmunds Price Checker
    Edmunds Lease Calculator
    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 / 2024 Kia Sportage Hybrid SX Prestige

  • Katman367Katman367 Member Posts: 2
    Thank you Michaell
    My term is 36months for 7500 miles, Location is Queens, New York, NY
  • MichaellMichaell Moderator Posts: 265,203
    Katman367 said:

    I am attempting to lease a 2021 Grand Cherokee Jeep Limited 4X4. with an MSRP of $43,670. Considering I have an excellent score who determines the money factor and how can I learn of the residual value so I can make a more viable calculation. On the previous lease, the financial institution had a 3.6% interest rate. Would that be the same as a .0015 money factor? 2400/3.6 = .0015

    Katman367 said:

    Thank you Michaell
    My term is 36months for 7500 miles, Location is Queens, New York, NY

    36/10
    .00008 and 55%
    $3280 incentives

    Edmunds Price Checker
    Edmunds Lease Calculator
    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 / 2024 Kia Sportage Hybrid SX Prestige

  • mmansoor89mmansoor89 Member Posts: 4
    by location, do you mean dealer location or your residential address?
  • kyfdxkyfdx Moderator Posts: 267,919
    mmansoor89 said:

    by location, do you mean dealer location or your residential address?

    Dealer

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • SushantParakhSushantParakh Member Posts: 15
    MF/RV for the 2021 Jeep Wrangler Unlimited Sport 4*4 36/10k MSRP : 37415 for 21133
  • kyfdxkyfdx Moderator Posts: 267,919
    SushantParakh said:

    MF/RV for the 2021 Jeep Wrangler Unlimited Sport 4*4 36/10k MSRP : 37415 for 21133

    Standard MF and 75% residual

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

This discussion has been closed.

Helpful Tools

Most popular vehicles

Your Privacy

By accessing this website, you acknowledge that Edmunds and its third party business partners may use cookies, pixels, and similar technologies to collect information about you and your interactions with the website as described in our Privacy Statement, and you agree that your use of the website is subject to our Visitor Agreement.