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Prices Paid: Buying & Leasing Experiences Jeep Liberty Lease Questions
102 messages, Last post on Aug 27, 2008 at 3:20 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: Car_man (Jan 16, 2007 8:53 am) First was this a good deal in todays market? Second is the buyout at the end a fair price? Thanks for your responses, Dave
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Replying to: fletcher3 (Feb 22, 2007 2:57 pm) 38 monthly payments of 279.00 total monthly payments of 10881 Other Charges: 425 (vehicle turn in fee if I don't purchase) 16806 total payments 5492.51 due at lease signing 4500.00 total rebates and non-cash credits 1279.01 cash due at signing Gross Capitalized cost: 23156.92 (agreed upon cost of vehicle) 25401.89 (any items payed over lease term) adjusted capitalized cost 19909.38 residual value 10649.10 depriciation and amortized amounts: 9260.28 rent charge 1620.72 total of base monthly payments: 10881.00 lease payments: 39 (one paid in down payment) total monthly payment= 279 Excessive wear and use: .15 per mile over 48750 Estimated official fees and taxes: 2158.77 NJ DISCLOSURE: MSRP= 25355.00 Total cost of lease if you do not defualt and exercise the puchase offer at the end of the lease term 27455.11 Well sorry If I put in a lot of data you didn't neeed but I have never leased a vehicle before and I was curious to if we got a good deal and if not I want to know what to look for if I choose to lease in the future. Thank you all for your time and consideration.
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Replying to: fletcher3 (Feb 22, 2007 8:26 pm) 5492.51 due at lease signing should be 5779.01 total due at lease signing (5492.51 +279 1st month + 7.50 misc.) Here is a mistake I believe the dealership made on the contract: I noticed that if I added up box 1 5779.01 due at lease signing box 2 10881.00 monthly payments over life of lease box 3 turn in fee not applicable unless turned in box 4 total payments is 16806.01 but shouldn't it be 16660 by adding box 1 & 2???? does the 146 dollar discrepency mean anything? I pulled the paperwork from her old lease and box 1 & 2 added up to equal box 4. Anyways just wanted to know if it was a clerical mistake or if I am missing something. Thanks Again, Dave |
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Hi, I am new to the forum and I mistakenly started my own thread under jakpenn's thread about lease to buy ratio. If anyone could please give me some info on the lease I talked about above I would greatly appriciate it. (if a moderator could move my questions into this thread it would be great too!!) Thanks, Dave
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Replying to: fletcher3 (Feb 23, 2007 7:41 pm) Anyways, if anyone can check my math and my numbers please let me know how we did on this lease. It appears that my residual is low but I still don't know how to factor it. Do you go off the agreed purchase price, the MSRP or do you take the Gross Cap Cost minus the incentives you didn't pay for? Thanks Again, Dave |
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here are the formulas I used: Monthly Finance Fee = Lease Charge ÷ Term Finance Fee = ( Net Cap Cost + Residual ) × Money Factor Depreciation Fee = ( Net Cap Cost – Residual ) ÷ Term $ fac = Lease Charge ÷ ( (Net Cap Cost + Residual) x Term ) Interest Rate = Money Factor x 2400 Total Monthly Payment = Depreciation Fee + Finance Fee
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Replying to: fletcher3 (Feb 25, 2007 2:11 am) I came up with 42% on a 39 month 15k a year lease ( I think) seems low but .. . I guess that is the least of all evils becuase from what I understand if you have equity at the end you can re-coup it with a trade-in or buyout/sell at the end of your lease. Give me your thougts: Dave
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man is anyone out there with some info? I should mention the liberty was leased in nothern new jersey (nj) |
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