Putting your trade aside, you definitely weren’t getting a Summit Reserve for low to mid 500’s. With the trade, maybe? You would have to build the deal using the Leasehackr calculator with the correct rebates and incentives for a Chrysler Capital lease. Trade ins complicate things a bit. Its possible that the dealer went lighter on the discount and heavier on the trade (or vice versa) looking for a payment that would get you to sign. Did you tell them a particular payment that you were looking to be at?
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Alright, thank you.
If you stick around this forum you’ll learn a lot. One thing you’ll learn is that you’re not even asking the right questions.
A. Choose the right vehicle if you want the best deal. JGC 4xe doesn’t have good programs for Summit or SR. Target the vehicle and trim with the best programs (MF, RV and rebates).
B. Make offers. Know what discount to ask for, using the forum as a source. Know what rebates stack and how to maximize them. Next time you do your research you’ll know things like Jeep Affiliates and TDM codes.
C. Know what to ask for your trade, when applicable, using the forum as a source.
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Without a calculator, this comment is not very useful.
That was using their “rebate” numbers ie MSRP discount and $13k in rebates. Along with the 5k from trade.
No I went in discussing numbers. Told them 10-12% discount with the applicable rebates and then what another dealer offered me on trade.
Push comes to shove, I was ignorant in what I should have expected as a payment. I think I fudged my calculations when I multiplied the 705*39, thinking I was paying less than half the value, but in all actuality I should have compared it to the adjusted capitalized cost which would have told me I was paying more than half the vehicle.
You keep asking “why would they do this if they have such a good reputation etc”
When they had you there you felt like you had a good deal and took it. So do many others, then they just keep moving through life feeling like they got a good deal, so they say that to other people.
You found out afterwards, now you’re upset about it.
You’ve already signed, enjoy the car, come here first next time before you sign.
I’ve been in your shoes, it hurts, I’ve listened to these folks for years, haven’t screwed up again!
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Apples to apples, comparing a Chrysler Capital lease to what you got, same discount, same trade value, assuming you have the private offer coupon and don’t qualify for returning lessee (Is your Ram leased? When did it expire?) Then it’s not THAT bad. The higher trims just don’t lease all that well. If you did get the returning lessee rebate and private offer then this could have been a little better.
If you did qualify for returning lessee and had the private offer coupon then you’re about 100/mo higher going through Ally.
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The numbers on this vehicle unfortunately differ per CCAP market
Thank you for doing those, I appreciate the input.
Here is my hang up with it all that I see reviewing the contract, that I should have paid closer attention, admittedly.
On calculator it provides a higher depreciation payment and lower rental charge. It is reversed on my contract. My total depreciation over 39 months is listed as $8,375. Meanwhile, my rental charge is listed as $17,434.
After all rebates and incentives/trade, total amount was 53,899 which I believe would have been the amount I was leasing from so to speak. Or that the discount/rebate was helping with the depreciation.
My understanding of it, from an uninformed perspective, now is that the dealer absorbed all of that profit, I am paying it over the next 39 months, and at the end of the lease the supposed value is 45524, which puts the total value of the vehicle of a $75k vehicle just shy of $100k.
You’re paying $27,495 to lease this vehicle for 3 and 1/4 years. $32,861 if you include the amount of your trade equity. The rebates came from the manufacturer, not your pocket. And the dealer DID discount the vehicle by almost 6%. We’ve definitely seen better discounts on this forum for a 4xe, although to be fair I don’t recall a Summit Reserve being posted here recently. If you believe that Ally is accurate in forecasting the residual value of this vehicle then you will have essentially just paid for the depreciation of the car over those 39 months ($78,490-$32,861=$45,629). There’s people out there paying $900 a month for a Base 4xe so don’t feel too bad about this deal. Enjoy that really nice leather interior and some of the goodies that I didn’t get in my Trailhawk.
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Dude just buy it out after the first payment. Your discount and rebates are good. It’s just the rate that is costing you. You have a get out of jail free card.
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Get better financing, buy it out (there are lots of threads on how to do this), and make sure you plug it in every time you can so you’re not wasting money on gas.
This is the result of doing the standard rate ally lease with the larger incentive stack with the higher mf.
Honestly all car dealerships are like that. Putting them in your blacklist won’t do anything better, but instead you should use your knowledge to negotiate a better deal in future if you ever have to deal with that business again. Alot of customers just love to see bigger discount on paper without realizing that they are adding an extra markup to cover up. I agree that dealership should be transparent about their dealings, unfortunately this whole car business is just like that. Some people do get frustrated so they end up going to one price stores like CarMax, Carvana and Any One Price dealer. One Price car dealerships are straight forward and they dont play any games. They give one price for trade, one price for the car, one price for the APR. Even when people do shop at transparent one price stores like CarMax/Carvana, etc, they also end up paying alot higher price too.
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I think youre trying to look at the net lease cost and apply that to the rv as if the only cost on a lease is depreciation, and since thr number is higher, youre making the dealer out to have done something questionable.
This is a mediocre deal, but that comes down to a reflection of your compressed timeline and not fully understanding what goes into a lease. Its a negotiation and to get the best deal, you need to come prepared.
Take this as a learning experience to work out what you could have done better and go in stronger next time.
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Dude you basically got boned out of $3k by the dealer by financing through Ally instead of Chrysler. Your APR is literally 10.5% making any discount essentially worthless.
Here’s your Ally deal as close as I can replicate it
Here’s the deal if you’d used Chrysler Capital
Anybody know if these CDJR dealers get kickbacks from shitty lenders like US Bank or Ally or are they just ignorant? They must right?
Theres a different incentive stack with ally than ccap due to the additional idl cash. Thats why the posted contract shows $18100 in incentives instead of $12500
Edit - looks like his APR is more like 10.75% to get the same rent charge with those incentives, but still can’t get it to work out right. Either Ohio doesn’t tax incentives and there’s more fees, or the APY is slightly off
You are double counting the trade equity by listing it individually and in the due at sale amount. If you list trade equity in the calculator, the due at sale only should be the cash due.
This is much closer to the actual contract.
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By “dealer site tool” are you referring to the Morgan BuyPass tool? That usually double dips the rebates with the discount and is just a bait and switch. Some of the dealers in that group will also start out with CCAP and then switch to Ally hoping you don’t notice.