More “old-fashioned” in-stock deal making (without a pre-order) led me to settle on this Jeep Wrangler Willys 2-door. I know I could have done a bit better if I ordered, and waited, but I needed a car, now, and this decent optioned Willys works for my basic needs. Found this at a smaller, but well known, Maryland CDJR dealer, after getting frustrated with ADM and financing restrictions at NJ dealers.
2022 Jeep Wrangler Willys 4WD
MSRP : $44,205
Discount: $2,103 (FCA Affiliate Discount)
Incentive: $500 Penfed TDM
Purchase Price: $41,722 (5.89%)
DMV Fees: $100
Dealer Fees: $600 ($99 wheel locks - sigh)
NJ Tax: $2764
Price OTD: $45,186
Effective Payment:$430/mo
I intend to keep this vehicle for a maximum of 24 months, below I am comparing 84mo financing at 3.24% with a 72mo balloon loan at 3.99%. I am leaning towards the balloon option because total interest is around the same and I’d rather have the lower payments and equity in my pocket. Some one who has more time, and can order one of these at a bigger discount, could do even better with the balloon loan payment. I will note, Ally has a good lease program on this model – but who wants to deal with Ally.
Balloon Loan
72 mo balloon at $440/mo with $0K DAS
Keep it until 12/23 you will pay $440x18 and buyout for $39,820 (Interest paid: $2,553)
Based on Manheim results, you sell it for $40K.
Total cost of ownership is $7920, sale returns $180 in positive equity
Effective payment is $430/mo.
Financing
84 mo financing at $602/mo with $0K DAS
Keep it for 2 years you will pay $602x24 and buyout for $33,302 (Interest paid: $2,562)
Based on Manheim results, you sell it for $38K.
Total cost of ownership is $14448, sale returns $4,698 in positive equity
Effective payment is $406/mo.
