For about a month I’ve been doing my homework trying to nail the best deal on a Sport S - each time, even if the MSRP goes from 39-41k, and even with $2000-3000 out of pocket at signing, the dealers have not gone lower than $430-460/month. I never took the conversation beyond that point.
Now I’m being offered 3000 due at signing and $365 a month on $44,675 Altitude Package!? The vehicle just got MORE expensive re: MSRP, but it’s the cheapest lease to date?
Running boards will be extra, taking it to $389/month but still – what the heck did I miss here?
Even a lease BROKER told me this vehicle is never going below $450/month even with 2-3k out of pocket.
**NOTE - the dealer shockingly told me they used an 81% RV - !? I’m waiting for them to send the paperwork. Don’t know the money factor yet .
I have only a couple days to figure this mess out. Window sticker attached.
New York State tax is I think 8.875%.
Advance thanks for anyone’s time in schooling me.
You need to get the exact details of each lease to understand why the numbers are what they are, mainly MF, residual, and which bank they’re using.
I’m guessing the first quotes you received were leases through Chrysler and the last was through US Bank. IME with Wranglers US Bank typically has the more aggressive MF/RV compared to Chrysler’s, which is often crap.
thanks. In your experience are bank fees on TOP of the MF or interest rate on the monthly? I cannot tell how many bank fees they’ll be adding.
Thanks. I’ll get the exact details of the lease.
Bank fees are essentially no different than any other dealer/doc fees, they are added onto the “final” price of the vehicle. Generally speaking bank fees don’t have anything to do with MF or RV, except in some cases you can have the acquisition fee waived by accepting a higher MF.
Some people choose to pay these up front and others roll them into the monthly payment, i.e. do you want $2000 due at signing with a $500 payment or $500 due at signing with a $545 payment. That choice is up to the individual.
I’d highly recommend that you take some time to read through the forum, especially the Leasing 101 articles, to get a better idea of how leases are calculated.
Thank you much.
I have been through these forums so many times. In practice, the minute the dealers hear you asking about MF, and confirming whether they’re using the 77% RV for Jeep Wrangler 2020 (36 mo/10k yr) - nobody is relenting on any document fees; bank fees; acquisition or administrative fees. They just keep reverting to the same question “look what do you want to pay per month?”
Bc of this forum I’ve walked away happily from many bad deals – but getting someone to send you an actual proposed lease is driving me crazy. I’ve spent literally about 40 hours on the phone with diff people. Happy to fill out your credit report - but in all the forums I’ve read here they all give one impt piece of wisdom: drive the SALES price down as low as possible to get to your lowest lease price. But ALL of the incentives; Employee Pricing “for All” (all except leases!); these all disappear the minute you say you’re not financing, but leasing.
It’s frustrating as hell, I keep asking please send me a breakdown of how you got to the monthly pmt. But - Pandemic means no in person discussions, all over phone and text.
Oh almost forgot – all the forums and YouTube vids telling me which fees never to pay - not a single dealership has been willing to waive or reduce them. I am being courteous and thanking them for their time; being straightforward. I just ask for line-item transparency – “Of course we pride ourselves on transparency!” But the deal is never good and nobody wants to prepare final lease paperwork unless I agree to the deal in principle. I keep saying – well I need to get to the lowest SALES price on this before I agree to the lease. That shuts people down.
Sounds to me like a CDJR dealer in a nutshell. We really can’t be of help until you get a full breakdown.
This sounds like a credit union deal.
Probably Bethpage or FCU, right?
I’m yet to see one of those YouTube videos or forums touting that have any idea what they’re talking about.
You’re not getting around paying the fees, unless your discount is so poor they can just roll it in there. The fees are happening. Now, in some markets, the dealer doc fee is super inflated, so you should keep that in mind when comparing discount amounts, but if you see someone saying “refuse to pay the acquisition fee!”, What they’re actually saying is “I have no clue how a lease actually works.” (Exception being in cases where you can waive the acquisition fee for a higher MF, which occasionally works out in shorter period leases).
If you find yourself talking to a dealer and the incentives are disappearing when you tell them you’re leasing, you’re doing it wrong. You need to know exactly what incentives apply before you talk to the dealer. Talking to the dealer is for finding someone to do the deal you want, not for determining how much the vehicle should lease for.
So that’s where things hit a wall. I see the sale price and work the calculator math wrong. I get alerts from edmunds: “your vehicle just dropped $3000 in price!” I see the website for the dealer; I call them up and say okay, that 40.1k car is now 36.7 I see on the site. Do you have this stock #? Yes, yes we do – okay, I want to lease that vehicle.
“Then the MSRP is 40.1k…” And I’m like, wait, no, stop. The sales price just dropped to 36.7k why are you using a MSRP of 40.1? “Oh, that’s just for financing.”
But the site says “employee pricing FOR ALL” what gives?
“Sorry, we can’t honor that. The MSRP is 40.1k.”
click<
The MSRP doesn’t change… The selling price, sure, but the MSRP that is the basis for pricing doesn’t change because of incentives, etc
It sounds like you may have a fundamental misunderstanding of the structure of leases and the components that go into them. It would be wise for you to step back and do some more research. Have you read through the leasing 101 section here, particularly on how to read a contract and calculate a lease by hand?
Some rebates/incentives are only for purchase, not lease…and vice versa. You need to know what incentives are available to you in your area. Go to Edmunds Forums and ask for MF, Residual, Incentives in your zip. That way you know what applies to you. Then negotiate the discount off MSRP - Incentives. Those ads your seeing muddy the waters because it throws all of the incentives in…whether they apply to lease or not.
We do need to differentiate here especially for the the new members that Edmunds will give the RV and MF for the captive and that they do not usually have or give out the info for US Bank, Ally, or Credit Unions.
For the OP: One well known broker on here frequently mentions to just get the running boards off Amazon or Ebay for $200, No reason to pay $576 or more for something that simple.
Also we have seen a number of people on here including pretty experienced leasers have the goal posts moved at the last second by CDJR dealers. It’s literally as if CDJR dealers / employees take a class on how to make car buying / leasing the hardest and most frustrating it can be. It’s a tactic that works on a good number of people and eventually they give in and just buy.
A recent forum member was negotiating for weeks on a Wrangler that was out of state only to get to the last day and the dealer then included a $3000 Protection Package that they wouldn’t remove which will sink the deal for anybody on this forum.
When the Altitude first came out last May (new enough that a salesman at my closest dealer didn’t know what it was and said I must have been thinking about a JK) we called a dealer in Anderson SC, and literally zero drive off we have a $385 payment on a 48 month/12k lease and they threw in a Set mopar rock rails, a lift kit, and speedo correction module . Ours was only about $41k on the sticker IIRC but that wasn’t with any real hard back and forth negotiation
Thanks much. Yes I have read and the 101. Been to so many sites on these topics. Learned gross cap cost to invoice and so many new things. I get that the MSRP doesn’t change, I’m saying each dealership feigns like “well, my hands are tied, the MSRP is…” and every time they are willing to drop that, it’s only for purchase. But from what I have read, and every lease calculator seems to support this, is that the sales price of the vehicle coupled with the RV and the MF (and tax) is essentially how your’e getting to your lease cost.
I thought the conventional wisdom is, negotiate the lowest sales price reduction from MSRP find out the money factor the RV the yearly miles the amt of months and the math will at some point make sense once it’s line-item’d out and fees, tax all are clear.
The best guess seems to be that if you pay 1% of the MSRP monthly with nothing down, that’s a good deal. But at the outset of every call, every dealership says they will line item everything out – instead they quote a monthly cost with ___ down, and when I ask for a breakdown of the figured (assuming the 36 mon. RV of 77% on this car) - nobody wants to give me that stuff.
Nevermind their reluctance though, every dealer was consistently way high. Suddenly this is the most expensive Jeep I encounter, and the price drops by $100 a month?
Thanks much. I checked all this out, was getting MF’s of .00175 or so - RV was 77%. Incentives were barely anything. Just seemed nobody would come away from the MSRP for the lease! Every time they quoted me a monthly lease price I’m like okay cool, thank you how did you get there" and they all started with “Well the MSRP is ____” and I’m like why are you going off the MSRP? Don’t you want to lease this car?
I sort of feel like you can really delve deep into it and insist on the MF buy rate, etc etc but at the end of it you have to feel good about the total outlay over the lease period assuming it fits your time/mileage needs. Some dealers get really turned off by people who get super intense about those specifics but are still the cheapest guys around.
Yep. I totally get it. I am super nice and just super calm and listening to these guys. They all talk talk talk talk around what they will do. Then I say okay cool, so just want to confirm, the MF; you’re using the RV; I ask about waiving doc fees (which are bull from what I have seen) etc. I just tell them what sounds good, I go okay cool, can you send me the figures? Nope. Nobody wants to explain how they got to their numbers. Also a lot of what I have learned is, you have to be able to walk away from a deal – have walked away from like 6 dealerships so far.
Not sure yet.
he just sent me the specifics:
1296.31 Tax
297.50 Gov Fee
275 DMV
365 1st month
75 Doc Fee
10 Inspection
2318.81 total
I am putting $3000 down so the rest goes to the $365 monthly.
Just recently tried to pick one up, with the jeep website offering under 400 with no money down, only to have the dealership quote me 550. Needless to say I didn’t get it. Had lousy luck finding these “great deals” everyone’s talking about. GMC was also quoting Sierra elevations at under 400 as well. Also ended up being 550 at the dealer.
