Rate my deal: 2018 Jeep Compass ALTITUDE 4X4 update

2018 Jeep Compass ALTITUDE 4X4
36/15k
MSRP 30,225
residual= 15,717
selling price= 27,129
$1700 for my trade in
told me MF was $11,412?

Payment= $260 a month

Using objective measures.
Fails the 0 down test
Fails the 1% test
We don’t know the sales price or residual.
So your grade is: incomplete…

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That’s not zero DAS.

DAS: my old car

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Sorry I’m new to the site, what is the 1% test?

Payment is 1% or less of MSRP, the leaserhackr test

this is the info I was able to gather from one visit to the dealer then some back and forth texting. Going in tomorrow to get a better look at the numbers. Any tips or things I should be looking out for when talking numbers? Any and all advice would help

Don’t talk numbers in person is probably the #1 tip that people will share on this website. Continue negotiation via email/phone.

would it be realistic to try and talk them down below 260 a month?

Without knowing all of the information (selling price, residual, MF, rebates, location, etc.), it’s hard to judge the deal and determine where the wiggle room is. If you divide your $2,000 down into your monthly payments, you’re looking at an effective payment of $316 a month.

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Also, while you are gathering that info from the dealership, Google “2018 Jeep Compass Altitude 4x4 MF” and one of the first links should be to an Edmunds forum. Over there, you can post your exact car specifications, lease terms, and location, and they will be able to provide you with the residual value and tier 1 credit MF, so you can verify those numbers once you receive them from the dealer.

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Thank you! thats a huge help

Except that’s not the leasehackr test at all

2 Likes

Effective payment with true $0 DAS is $316…more than 1%.

What do you like about the Compass anyway? Most Jeep products outside the GC and Wrangler are mediocre

mostly aesthetic things, interior and exterior design. I’m open to suggestions for other makes and models though. Specifically something that leases well.

Nissan Rogue and Buick Envision are leasing well according to posts here

Equinox and Rav4 also do well from time to time.

2018 Jeep Compass ALTITUDE 4X4
36/15k
MSRP 30,225
residual= 15,717
selling price= 27,129
$1700 for my trade in
told me MF was $11,412?

Payment= $260 a month

MF is a percentage that represents the interest rate on the deal, .00015 MF and 53% residual, 2500 cash incentive; those are what edumnds say it should be, for 15k I would assume it goes down to 52% residual which it is

from what you’ve given me I get this leasehackr.com/calculator?make=Jeep&msrp=30225&sales_price=27129&months=36&mf=.00015&dp=1700&doc_fee=80&acq_fee=795&taxed_inc=0&untaxed_inc=0&rebate=0&resP=52&reg_fee=400&sales_tax=9&memo=&monthlyTax_radio=true&miles=12000&msd=0 so I’m still missing numbers to be able to tell you, for the monthly their talking about it is a good deal? still can’t say if your putting money down besides the trade

Taking a wild guess at the MF they told you, its just a little above what edumnds says it should be

so the 260 would represent a 0 down payment and 0 DAS (not including the trade in of course)

Do you have an offer sheet? It sounds like they are giving some incentives you aren’t talk about or they are lying to you

Monthly payment would be : (selling price - residual) / 36 + (selling price + residual) * MF as is I can’t get those numbers to match up 11412/36 = 317 + 6.42 = just about 323.42

If they are applying incentive after the selling price it would be 262.72 + 6.42 a month, I guess the most important number you should ask for is the final cap cost of the vehicle

Now if this is exactly as they describe I think its a great deal but be skeptical!