Hi All. New member here…
I’m looking at a lease deal in Wisconsin(53202). Here are the stats.
MSRP 54k
Lease Terms 12k/3 years or 12k/4 years
**Monthly Payment 689/month or 650/month **
Drive off 1000 including first months payment
I know I need to find more information like the residual and MF. Also need to get the negotiated vehicle price. From what I’ve put out, I’m trying to figure out if this deal is worth pursuing. Any help is appreciated.
Edmunds says standard MF and residual 66%/61%.
No incentives. Thoughts?
In order to give you any proper feedback you will have to get a breakdown of pricing. We have no idea what is going into this deal.
What other information do I need besides the negotiated price?
For starters, bits of info you need:
I’ve been shopping Wranglers for the past year. Most of the time they lease better using US Bank vs. Chrysler Capital.
If they’re already using US Bank, then the MF/RV will not match Edmunds, they only have access to CCAP numbers, not US Bank. If they’re using CCAP, then ask them to re-run the numbers using US Bank, and compare.
As to the discount, there are a number of dealers that will order you a brand new one to your exact spec for 5-8% below invoice, which is usually 12-14% below MSRP.
IME, most first pass quotes from FCA dealers range from full sticker to 5% discount or so from MSRP, depending on how much crack they smoked that morning, which is pathetic.
Negotiated price: $50,385
Allied Bank was better than US Bank
MF = .00338
Residual=73%
Out the Door: $1000(first month, doc fees, etc.)
Payment for 48/12k month Lease = 649(includes taxes $34/month)
Finance guy says the MF is high because Allied Bank uses high residual vs. low MF? My credit is great. Should I shop this thing around?
Here is the calculator.
I don’t know anything about Allied Bank but that MF looks really high given current interest rates. I’m guessing the dealer is marking it up significantly.
Can the dealer mark up the MF independently from the bank?
Ally Bank / Wranglers have high MFs
I would never touch a 48 month least. Spend the extra $40/Month and go 36.
The extra year out of warranty, those tires, brakes, etc…
A year shorter of a term for an extra $40/Month is well worth it.
Now back to the deal, an aggressive deal outside of your market is about 550 w 550 DAS on a 36/12 assuming you may have GM conquest in the household.
Good grief man, that MF is atrocious.
As a point of comparison, I received a Wrangler quote about 2 weeks ago where the US Bank MF was .00170, and the CCAP MF has typically been around .00200 lately.
Using your calculator and changing the MF/RV to CCAP values (61% RV and estimated .00200 MF) your payment alone drops over $50/mo, so I’m not buying that this Allied Bank is a better lease, if that’s what the dealer is saying. And US Bank typically comes in slightly cheaper than that.
And as mentioned, your 7% discount is roughly half of what can be expected with a little effort, so yes, I’d say you should certainly shop this thing around.
You can probably do better on the nego price with 2021’s landing in lots. That sale price seems ok for 2021 but imo not for 2020. Of all Wranglers Sahara’s drop the most in value and will usually be the first to get MFR trunk money.