As requested.
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Hereās what Iāve been trying to figure out as someone who lives in CA, maybe you guys can help me solve this riddle. Is it true that for a lease of a Jeep wrangler hybrid, or even a toyota Rav4 plugin hybrid, the dealer takes the $7500 fed tax credit as your down payment, and then the other 2 CA incentives as well. And then at the end of the lease, if you decide to purchase, wellā¦ what happens? Are you basically getting a vehicle with an additional $7500 + the other hybrid tax incentives off when all is said and done?
$7500 is used as a downpayment on the lease. If you buy it at the end of the lease you get it for the residual value, you wonāt get to use the tax incentive again
There is also a Clean fuel $1500 rebate that is used by partifcipating dealers on either a lease or purchase.
Toyota doesnāt let you use the $7500 rebate towards the lease on a Rav4 Prime.
Thanks for the reply. Leasing is a new thing to me. So I could basically use the incentive program to get a Jeep wrangler hybrid and instead of waiting until next year to get the tax incentive back, I could lease the vehicle with $9000 down of gov money, and then in 3 years Iāll do the option to purchase and Iāll jump into a finance option around 66% residual of $48k? This almost seems like a no-brainer.
Do you know if Toyota accepts the incentives on leasing the regular hybrid Rav4?
Thats mostly right, the main negative that you need to account for when making your decision is that the money factor is high on the 4XE (Chysler Capital charges close to an effective 5% APR on the lease this month on Tier 1 credit)
Regular non-plugin hybrids (Such as the Rav4 Hybrid) do not qualify for the $7500 rebate or the $1500 Clean Fuel. This month the Rav4 Hybrid has no rebates or incentives in Socal
wow. Iām assuming you canāt lease a vehicle using bank financing?
Leases are only done through a few banks, Chrysler Capital has the best lease this month on the 4XE for those who plan on buying it out at the end.
You canāt walk into your local bank and apply their low rates towards whichever lease you want.
gotcha. Last question probably, if at the end of the lease I decide to finance the remainder of the vehicle, can I use my own bank at that point?
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Yes you can finance the remaining balance on the lease through any bank
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Iām new to leasing, thinking hard about this deal especially living in CA. What does all of this mean: .00159 @ 39 but I see .00205 for CCAP.
Heās saying that hes seeing lease sheets listing a .00159 money factor for a 39 month lease, but is confused by that as buy rate (the minimum money factor set by the bank) for Chrysler Capital is .00205. That would suggest the lease sheet is either incorrect (as the dealer canāt lower the mf below buy rate) or a bank other than Chrysler capital is being used.
0.00159 is the correct CCAP money factor for 39 months for a non-hybrid Wrangler. The hybrid PHEV 4xe is 0.00205.
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How are you liking the car so far?
Is that dark saddle interior?
Really like it so far. Much more than I expected.
Yep!
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Also, FYI to those who ordered through my original dealer. I saw this posted over on 5th Gen RAMs dated yesterday.
āAs of today Phillip Olson is no longer with Bud Clary. All current orders should be honored. I would like to thank him for all the amazing deals he provided to many of us on this forum. Philip is focusing on his other work of building houses. If you are in Washington state give him a call.ā
CCAP is .00203 for 36 months
No cars to sellā¦plenty of houses to build!
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awesome , congrats !
Anyone find a dealer in Florida offering something like this?