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
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  • MichaellMichaell Moderator Posts: 248,994
    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?

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  • Katman367Katman367 Member Posts: 2
    Thank you Michaell
    My term is 36months for 7500 miles, Location is Queens, New York, NY
  • MichaellMichaell Moderator Posts: 248,994
    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

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    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: 249,343
    mmansoor89 said:

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

    Dealer

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  • SushantParakhSushantParakh Member Posts: 15
    MF/RV for the 2021 Jeep Wrangler Unlimited Sport 4*4 36/10k MSRP : 37415 for 21133
  • kyfdxkyfdx Moderator Posts: 249,343
    SushantParakh said:

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

    Standard MF and 75% residual

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