- #42 of 102
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Re: Liberty Lease Evaluation, Help Please [fletcher3]
by fletcher3
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Feb 25, 2007 (2:01 am)
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Replying to: fletcher3 (Feb 23, 2007 7:41 pm)
Alright, I could have m ade a mistake but given the formula I found on the web I think I calculated the money factor on the deal above to be .001359 (if I take that and multiply it by 2400 I get equivelant 3.2% interest rate) Right now they are giving out a 3.9 60 month interest rate on the Liberty so. . . it I think I did alright???
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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- #43 of 102
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Formulas I used in attempting to figure out my lease
by fletcher3
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Feb 25, 2007 (2:11 am)
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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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- #44 of 102
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Re: Formulas I used in attempting to figure out my lease [fletcher3]
by fletcher3
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Feb 25, 2007 (2:27 am)
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Replying to: fletcher3 (Feb 25, 2007 2:11 am)
Ok last post till I get a response (just kidding) After doing some reading it appears I should use the MSRP in computing the residual so:
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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- #46 of 102
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Re: Formulas I used in attempting to figure out my lease [fletcher3]
by fletcher3
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Mar 07, 2007 (3:13 am)
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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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- #48 of 102
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Re: Current lease buy rate [fletcher3]
by Car_man HOST
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Mar 12, 2007 (2:55 am)
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Replying to: fletcher3 (Feb 22, 2007 2:57 pm)
Hi Dave. The selling price that she was able to negotiate looks good to me. The truck's lease-end purchase option price is set by the bank that she leased it through, which is most likely Chrysler Financial. Individual dealers do not have the authority to alter vehicles' lease-end purchase prices. In fact, the higher your truck's end of term purchase option price is, the better it is for you as a lessee. That is because the higher a vehicle's purchase option price is, the less depreciation you have to pay for over the life of your lease and the lower your monthly payment will be. As long as the dealer used Chrysler Financial's current buy rate lease money factor to calculate her monthly payment, and they probably did because Jeep dealers seem to rarely mark up money factors, this looks like a good deal to me.
Car_man
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- #49 of 102
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Re: Liberty Lease Evaluation, Help Please [fletcher3]
by Car_man HOST
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Mar 12, 2007 (2:56 am)
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Replying to: fletcher3 (Feb 25, 2007 2:01 am)
Hey Dave. Chrysler Financial's current 39 month buy rate lease money factor and residual value for a 2007 Jeep Liberty Sport 4WD with 15,000 miles per year are .00136 and 42%, respectively. Vehicles' residual values are based upon a percentage of their full MSRPs, including the destination charge and the MSRPs of any options that can be residualized.
Car_man
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- #50 of 102
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Re: Liberty Lease Evaluation, Help Please [Car_man]
by fletcher3
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Mar 12, 2007 (1:10 pm)
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Replying to: Car_man (Mar 12, 2007 2:56 am)
So, in your opinion based on the numbers I provided I got a good deal correct?
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- #51 of 102
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Re: Liberty Lease Evaluation, Help Please [Car_man]
by 4jeeps
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Mar 15, 2007 (7:01 am)
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Replying to: Car_man (Mar 12, 2007 2:56 am)
Car man, Do you also have the current 39 lease money factor and residual value for an 07 Liberty Limited 4x4 with 12k miles? Thank you very much!
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