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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: jen_b (May 31, 2008 10:36 pm) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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We are going to turn in our jeep liberty lease tomorrow and hopefully sign the contract to lease a 2008 liberty, but some things are not lining up as far as the payment is concerned. If I plug in the EXACT numbers the dealer gave me into the edmunds.com lease calculator, it gives me a payment of $30 less per month. I'm concerned that there are some hidden fees being added into the dealers calculations. For them to be $30 higher per month is quite a difference. Any thoughts??? Also, I was looking over my current contract and I dont fully understand the RENT CHARGE, it is an amount on top of the depreciation that my monthly payments are based on. Could someone please explain what that amount all includes, Im assuming the interest is included in that figure, anything else? Thanks!!
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Replying to: jen_b (Jun 13, 2008 12:41 pm) Depreciation + finance charge + tax = Payment.. regards, kyfdx
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Replying to: kyfdx (Jun 13, 2008 12:53 pm) The depreciation amount on my current lease is $9758.40 and the rent charge is $4331.52, that seems outrageous to me, I'm wondering if that also includes the extra miles we purchased, we paid for 15,000 miles/year? How would I figure what the interest rate is, based on these figures?
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Replying to: jen_b (Jun 13, 2008 1:01 pm) |
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Replying to: jen_b (Jun 13, 2008 1:04 pm) Divide by the term.. 48 months. Result: $90.23/month Add your net cap cost and your residual amount. Just as an example.. $20K + $11K = $31,000 Divide $90.23 by $31,000 = .0029.. This is your money factor Multiply .0029 X 2400 = approx. 6.96%.. This is the equivalent APR of your lease, assuming your CAP and residual are the same as above.. regards, kyfdx |
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Replying to: kyfdx (Jun 13, 2008 1:12 pm) We are currently being quoted a money factor of .00259/6.2% for an 08 Liberty Limited, I think that seems high based on the fact that we qualify at their top tier level. Do you think this seems high? We could probably find a better rate, but then we would have to give up some of the incentives, so... Thanks for all your help.  )
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Replying to: jen_b (Jun 13, 2008 1:49 pm) He will roll through here periodically to answer money factor and residual questions.. regards, kyfdx Host-Prices Paid Forums |
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I have three payments left on my 06 Liberty, I want to come out of the lease now. Will I just have to pay the 3 months payments, plus the $300 early lease termination fee or will I have other penalties? Thank you
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Replying to: cbam (Aug 10, 2008 1:19 pm) Car_man Host Prices Paid: Buying & Leasing Experiences Forumv |
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