Signed 2023 Jeep Compass Latitude Lux

Signed Deals & Tips
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Now I will give you that this is a somewhat decent point, but you also only shopped your car around to wholesalers, had you shopped it around to Jeep dealers, you may have found someone who would have given you equity, many dealers aggressively want trades to retail.

That being said, the point in listing your true DAS and effective monthly is that other people understand the true price, no one else here could potentially replicate this without a trade-in, and if they could, that means you overpaid.

I mean, same thing, by that logic, you say they did it to justify the discount, but does that mean they applied the equity to the discount, or they applied the equity as a down payment? Those are two majorly different things. If they applied that as equity and still gave you $4,065 off, which seems impossible to me, that would mean they did actually give you that equity.

Two questions:
What banks was this thru, CCAP or SFS? What is the breakdown of the MSRP discount? How much of it is rebates and how much is discount?

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wholesalers, had you shopped it around to Jeep dealers, you may have found someone who would have given you equity, many dealers aggressively want trades to retail.

I could also pay cash, buy my car off, pay tax, title and registration fees myself in MD on it, then pay for reconditioning and put it for cash sale as private party. That would be nothing comparable to trading it in at wholesale, which is what this transaction was. And , by the time I paid all taxes, fees , with my monthly insurance premium, I would still probably be sitting on this car if I wanted to retail it as private party for top dollar possible I could get. Someone with $17K cash in their pocket have better options to buy retail out there than get a used Jeep Compass from me.

That being said, the point in listing your true DAS and effective monthly is that other people understand the true price, no one else here could potentially replicate this without a trade-in, and if they could, that means you overpaid.

But people who leased their cars before chip crunch in 2021 can. And there are a lot of those, who leased cars before prices went crazy and would like to get rid of their 2021 leases to get newer cars, if they could get a good deal on a newer car.

I mean, same thing, by that logic, you say they did it to justify the discount, but does that mean they applied the equity to the discount, or they applied the equity as a down payment? Those are two majorly different things. If they applied that as equity and still gave you $4,065 off, which seems impossible to me, that would mean they did actually give you that equity.

Total Credits (see OP) was $9008.14, which included the trade equity. Discount on car was in the amount of $4065, separate from my trade.

Two questions:
What banks was this thru, CCAP or SFS?

It was via US Bank, which sucks, I know. But I don’t plan to trade this car for the next 3 years, so I am ok with driving it and dropping it off when my current lease is over.

What is the breakdown of the MSRP discount? How much of it is rebates and how much is discount?

Don’t have itemization anymore, it’s not itemized in purchase order or lease contract, but I recall it was Chrysler rebate and cash rebate from dealer at the time.

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If they discounted it $4,065 and also gave you $3,425 in trade equity on top of that, how was the trade equity used to justify the discount?

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I don’t think they could give (on paper) $9000 off on $38K MSRP new Compass, I believe they had to justify their discounts with rebates available at the time and can’t just throw cars around at the price they wish. And there was only so much they could give in rebates/discounts. Buying my car for above wholesale was a back-door option for them to effectively sell their car for $9000 less than MSRP, while on the paper it looks like they gave only half of that as a discount, because they “appraised” my car’s wholesale value close to retail.

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I think the point here is there is no reason why they would ever give someone $9,000 off a Compass. The spread from MSRP to invoice on a Compass is around $400, maybe $1,400 total profit between invoice and holdback. There is no margin in these cars. There is no world in which they gave you $9,000 off and justified it with trade equity. For all we know, 3k of your dealer discount was rebates. They gave you $20.5k for your trade, that’s it, you don’t seem to want to accept it, but they valued your trade at that and gave it to you, just becasue the money didn’t come to you as a check, doesn’t mean it isnt’t real.

Did you look on their website to see what they were asking for your car a few days after you traded it in? There are dealers in MD asking way more than 20.5k for used 2021 Compass Lat’s.

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I did. They kept discounting it on their website since I traded it in August and just sold it this week (and they are one of the top volume dealers in the region, with ton of foot traffic, not a John Doe living in Joppa Town, MD). They put 4 brand new tires on it, changed front rotors and all break pads (aside from regular maintenance stuff like alignment correction, oil and filter change, deep detailing the car and etc.) before they put it for sale in August.
I sold leased car myself years back (I told the story about my Honda Accord which had extra miles, so I had to sell it on my own). I don’t want to sell another car as private party, that I can tell you for sure, with people calling and asking if you can give it at half the wholesale cost, with all the tire kickers that have no money or intention to buy, with all the calls you get from people who just call to see if the car exists and how much it goes for and etc.

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If they did all that they likely sold for more then they offered you and also could have made money on products as well as interest rates. All that factors into their profit on the deal as a whole.

Unless you can get the new Jeep for 333 down 333/mo without a trade then it’s relevant to the deal and should be posted as such.

We have these data points so people can base their deals off of, not to just brag about the deal. So someone asking for 333/mo will be wasting their time, brokers time and dealers time with an unrealistic data point.

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Look, forget it, congrats on the deal 428/mo with 428 DAS is great.

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I agree to disagree.

I disagree to agree.

That’s ok with me :smile:

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I disagree to agree.

One day you’ll come to accpet that those of us who are definitely wasting our time here are trying to educate and help you so you can fully understand your deal and do better in the future, but there really is no point when you won’t listen to people who do this on a daily basis. I would hate to be your doctor.

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“If I take 7 pills once a week that’s the same as taking one a day”

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You could say that if I didn’t provide all the details to the T and only posted a false information, without giving all the information on the entire structure of the deal. If someone is so stupid as to read the title without reading the OP and then goes on wasting everyone’s time, then that’s on them. But anyone with current 2021 Jeep Compass lease can read and benefit from it, knowing how could they get a new, upgraded Compass with more powerful engine and $10000 higher MSRP for $333/mo and $333/DAS.

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That’s assuming any dealer is willing to supposedly massively overpay for the car, per your assertion that that is what happened.

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The exact same deal at the same dealer can be structured with equity going into your pocket via a check, and an equivalent higher monthly.

You chose to use that cash-equivalent equity towards DAS/CCR and have a lower monthly.

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Lol max, James, and Scott are spending so much energy trying to convince a financially ignorant person about how “equity” and “cash” work.

You three are the most positive intent stubborn SOB’s on LH. But just give up already… Eric wins by having dragged you down to his level.

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So there are no more assumptions…

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Lol while I agree with you 100%, just remember the person you’re trying to educate will not be able to comprehend what you’re saying.

Eric thinks equity is just some fictional thing that is worthless because he doesn’t understand how he could have extracted that equity as cash. And if he doesn’t know how to get the cash, he concludes that nobody will know how to get the cash in a similar deal.

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Except I didn’t have a desire to get cash, I wanted to lease a new car with $10000 higher MSRP and pay only what I ended up paying. I guess there is no educating as to buyer’s true intent.

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Lol this thread is insane. Eric, it was $3758 DAS. You could have had the cash in your pocket, you made a down payment with it instead.

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Yeah, good luck selling your 2021 Jeep Compass to local dealers for $3400 above Carmax, Edmunds TMV and payoff amount.