Contract review
Does this look kopesthetic?
Thanks!
JEEP LEASE
63,050 MSRP
59,392 INVOICE
3,563.52 DISCOUNT (5+1% off inv)
1,000.00 MFR INCENTIVES (500x2)
54,828 VEHICLE PRICE
6.5% ORLANDO FL SALES TX
394 DEALER FEE
595 CCAP ACQ FEE
Looks good to me. 1% sign and drive in this market is pretty good. What kind of Jeep was it?
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Diesel Gladiator Rubicon
The Leasehackr calculator comes out at $611. Where is the $3mo. discrepancy?
Did you check the MF on Edmunds?
Rounding error
Yes. MF 48mo .00109
Though on the calculator . 00112 gets $614mo.
Your calculator does not reflect your contract. Selling price is different, incentives are different, etc. If you match the contract, it’s within pennies.
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Thank you. This is what I was looking for.
Instead of making the sale price to reflect the 6% below invoice price, the dealer made it a taxed incentive. Why do it this way instead of deducting the discount from the sale price?
None of the contract numbers made sense but the bottom line was very close doing it both ways.
Even with that, shouldn’t the 6% (3563.52) plus MFR incentives (500+500) come out to $4562.52 taxed incentive?
Edit: I see they divided the mfr incentives; One to the taxed incentives and one off the sale price.
Does doing it this way affect the back end of the lease?
It’s unclear to me what the incentives are that are being applied here.
There’s the discount, which is reflected in the sales price. In this case, your sales price is $58873. This is actually more than the $3563.52 discount you listed.
In addition, there is $3956.15 in incentives being shown.
I don’t know where you’re getting a $54828 vehicle price from. Are you trying to say that you’re getting 6% below invoice before a $1000 incentive?
What did edmunds give you for rv/mf/incentives?
I have to give you credit for the most creative spelling of that word I’ve ever seen.
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I just assumed a lisp.
Don’t be penny wise and pound foolish. Don’t drive a product from an unreliable manufacturer for 24,000 miles outside its warranty.
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Edmunds wouldn’t quote incentives
36 59% .00139
48 53% .00109
These are the available manufacturer incentives. From my understanding the $1000 is loan financing.
This is a copy of the factory invoice
The sale price is 500 less which I take to be one of the mfr incentives, and the cap cost reduction is the 6% off invoice with the other 500 mfr incentive. I don’t know why they were applied that way and one comes a few dollars short.
Lol in a hurry to spellcheck. Must’ve landed in the urban dictionary.
The difference between 36 and 48 was around 80-90 mo.
I could take the 3000 I saved and roll it into an extended bumper to bumper warranty. 
So how does that save you money?
Don’t forget consumables like brakes, tires, etc.
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It doesn’t. I was being facetious hence the lol and the face. But it is a calculated risk. Something may go wrong in which case I have 3,000 Plus before I break even with the rate on a 36 month lease, or if nothing goes wrong I’m 3,000 Plus ahead of a 36 month lease.
Please understand the whole concept of leasing a vehicle is new to me. The last vehicle I purchased was 15 years ago and I’ve driven it 281,000 MI. After doing a monthly cost analysis over the whole time I’ve owned it, it came out to about $240 a month over 168 months. So now realistically I’m paying $200 something dollars a month for a vehicle that’s going to continue to break down that I’m responsible for and that is very aged with a lot of miles. When I saw that it made the concept of leasing a vehicle not as irresponsible after all.
So from your position me taking a 48 month lease maybe foolhardy and irresponsible, but from my position it’s a quantum leap from making a long-term purchase, and perhaps the next one will be entirely within the bumper to bumper warranty parameters.
As far as routine maintenance costs are concerned the only real variable we’re talking about here are breaks which the parts cost negligible and I do them myself, and tires. Nobody buys a Jeep and doesn’t upgrade the tires so that is my first purchase and the factory tires will sit in the corner of my garage until the end of lease in which case they’ll get put back on the wheels.
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So why don’t you just buy it?
Why pay so much to lease a vehicle, risk depreciation etc? Especially during the worse time to lease?
It’s a work truck so I don’t have to depreciate the business expense.
Because I’m leasing instead of purchasing, 4 years from now I’ll have 20,000 less into it then had I made a down payment, paid taxes on the full purchase price and financed a lot more.
After adding up all the numbers of maintenance and what I put into it over the years it doesn’t necessarily make sense for what I do. I’m in a region where customers place a high premium on their trades showing up in nice vehicles or at least newer vehicles. Not to mention is an added bonus I’ll be more than doubling my current fuel mileage which is not insignificant.
Agreed but at 6% under invoice, this car is excluded from that.
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And there’s that. Without the 7300 below MSRP I would have bought a used vehicle resembling the current design (2015+) to replace this one with, but thank God for volume discounters.
How are you doing Boston? Wondering where you’ve been. Does the deal meet with your approval?
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That’s only the dealer discount part, which would be the same on purchase, correct?
It’s pretty obvious the lease programs are pretty bad when the lessee has to go to 48m to make the payments remotely palatable.
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