So we have a leased 2019 Jeep (fully paid lease), looking to turn in, she went back to the same dealership and got this, can someone explain this? I dont see things like RV, ect. I also know its not best scenerio to turn in a car for a new lease, but she wanted to check.
First, you can ask for the money factor and residual. Not every dealer will print it without you asking. Check edmunds to see what the programs are from the lender.
Are they cutting you a check back for the trade? It looks like they are giving you about $8k in equity, but taking $800 for a cap cost reduction and $444.51 further due at signing. So I am asking, are they giving you a check back for about $7200?
Where are the rebates too? There’s $5,300 in Stellantis lease loyalty bonus cash, $500 returning lessee, $2,500 in IDL cash. Not sure what stacks but there should be some kind of rebates listed on that quote.
@ElectricEliminator whaat is IDL?
I didnt see any rebates either, and was wondering the same since I saw online about loyalty rebates, is that Stallantis, never heard about that.
@wam22 I didnt go to the dealership, so not sure how that is all broken down, but I doubt that there is any 8k in a check. Where does the 7200 come from that you are using?
She has a Jeep and just trying to turn it in or make some equity torwards a new car. Seems very painful.
IDL is essentially a different lease incentive that Stellantis/FCA/Jeep provide to customers that are leasing through a third party bank (Ally, US Bank, etc). Depending on the Chrysler Capital programs it might or might not end up being a better deal.
If they aren’t cutting you back a check for $8k, then this is a terrible deal. $30k to lease a $36k car if you add up the equity in your Jeep plus the total of the payments.
Based off the zero down (599$) that would be 21.5k? Just guessing based off the limited information here. 21.5/36= 597
Yea just could not understand that trade allowance, trade differance, and trade payoff in the above which makes it more convoluted.
The equity in the jeep (delta between trade allowance and trade payoff) here is only $800.
The trade difference is the delta between the sales price of the new car and the purchase price of the trade and is only listed because this dealer form is also used in some states where tax is only due on the difference.
So equity going into w/ this lease to another is 800$.
Not withstanding the horibble looking deal. I did find on thier website that MSRP is including the rebates asked by others.
I just saw the trade difference and allowance.
With 17,000 miles on the jeep after 3 years just buy it out and keep it. Don’t even waste time figuring out a new lease deal. Everything is being market up severely. Cheapest and most financial savvy decision is to stay out of the market and buy your lease out. It will be cheaper and headache free. Why give a brand new car with 17k in miles back to the dealer and why lease if you are only driving half of the allotted miles signed for than you actually need.