Are you a current or recent car shopper who bought an EV and then installed solar – or who had solar already, making the decision to go electric easier?
OR
Are you a recent EV buyer (past 3 months) as a result of manufacturer incentives and dealer discounts on these vehicles, including year-end deals? Were you convinced to buy an EV after finding a good end-of-year deal, or due to uncertainty around which EVs will no longer qualify for full/partial EV tax credits in 2024? A national business reporter is interested in speaking with you. Please reach out to [email protected] by 12/15 if interested in sharing your story.

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: 234,353
    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 / 2014 MINI Countryman S ALL4

  • Katman367Katman367 Member Posts: 2
    Thank you Michaell
    My term is 36months for 7500 miles, Location is Queens, New York, NY
  • MichaellMichaell Moderator Posts: 234,353
    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 / 2014 MINI Countryman S ALL4

  • mmansoor89mmansoor89 Member Posts: 4
    by location, do you mean dealer location or your residential address?
  • kyfdxkyfdx Moderator Posts: 228,352
    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: 228,352
    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