- #5 of 12
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Lease question
by jessicat
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Feb 11, 2007 (9:40 pm)
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Thanks for the reply Car_Man. I just noticed the the info you gave me previously was for a Sport 4WD are the numbers different for a 2WD? That is more what I am interested in. Sorry I didn't mention it before.
And I have another question for you. I see in ads that dealers sometimes offer a discount on a vehicle in addition to a factory rebate.. do the dealer discounts only apply to purchasing or do they offer them to lessees as well?
Thanks in advance.
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- #6 of 12
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Re: Lease info [Car_man]
by mich2226
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Feb 17, 2007 (7:12 am)
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Replying to: Car_man (Feb 09, 2007 4:40 am)
I have a quick question if anyone can help me. I'm trying to get rid of my 2003 Jeep liberty which is financed and I still owe some money on it. Can I go to a dealership and turns this car in for something else? What are my options so the throw what I owe on the new note? Help?? Thanks
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- #7 of 12
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Re: Lease info [mich2226]
by farout
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Feb 19, 2007 (3:19 pm)
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Replying to: mich2226 (Feb 17, 2007 7:12 am)
Mich2226: Depending on your credit, most dealers can get the amount you are upside down financed into a loan with the purchase of a new vehicle. Be aware you most likely w3ill have no equity until you have about 6 months left on the new contract. Unless there is something seriously wrong with your present vehicle, the vehicle your in will be the cheapest to drive. Being upside down is not good business on a consumers part.
Farout
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- #8 of 12
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Lease rate.
by acurabuyer
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Mar 02, 2007 (11:29 pm)
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Hi Car Man,
Can you please tell me what is the money factor and residual for copass limited 4 wheel drive. Thanks in advance.
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- #9 of 12
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Re: Lease question [jessicat]
by Car_man HOST
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Mar 12, 2007 (2:03 am)
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Replying to: jessicat (Feb 11, 2007 9:40 pm)
No problem, jessicat. The lease program for the 2WD model is a little different than the program on the 4WD model. Chrysler Financial's current buy rate lease money factor and residual value for a 24 month lease of a 2007 Jeep Compass Sport 2WD with 12,000 miles per year are .00173 and 59%, respectively. The numbers for an otherwise identical 30 month lease are .00222 and 55%. The numbers for an otherwise identical 36 month lease are .00222 and 51%. This truck still has $750 lease cash on it.
You absolutely should negotiate a discount on any vehicle that you lease. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Shop around and negotiate the lowest selling price that you can on the Compass that you want, making sure to take the aforementioned $750 lease cash into account. Once you have arrived at a price that you are comfortable with have the dealer use the lease program that I just provided you with to calculate your truck's monthly payment.
Car_man
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Prices Paid Forum
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- #10 of 12
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Re: Lease info [mich2226]
by Car_man HOST
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Mar 12, 2007 (2:11 am)
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Replying to: mich2226 (Feb 17, 2007 7:12 am)
Hi mich2226. You are what is known as "upside down" on your Jeep Liberty, meaning that you owe more on your loan for it than it is currently worth on the open market. Your best option would be to wait until you are less upside down to get a new vehicle. If you are unwilling or unable to wait to get something new, you can either trade your current truck in or sell it on your own. Consumers are usually able to get a little more money for their vehicles by selling them privately, but it is a hassle. If you opt to go the convenient route and trade your Liberty in, you are either going to have to pay the amount that you are upside down on it out of your pocket at lease signing or roll it into your next loan or lease. Rolling your negative equity into your next deal will just make you even more upside down on your next vehicle, so if you can you are probably better off just paying off your negative equity and starting with a clean slate.
Car_man
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Prices Paid Forum
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- #11 of 12
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Re: Lease rate. [acurabuyer]
by Car_man HOST
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Mar 12, 2007 (2:15 am)
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Replying to: acurabuyer (Mar 02, 2007 11:29 pm)
Hi acurabuyer. This truck's lease program varies by term and mileage allowance. For now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Chrysler Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Jeep Compass Limited 4WD with 15,000 miles per year are .00192 and 51%, respectively. When negotiating your lease on this truck, make sure to take advantage of the $750 lease cash that is currently available on it.
Car_man
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Prices Paid Forum
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- #12 of 12
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Press Request
by KarenS HOST
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Apr 24, 2007 (2:29 pm)
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A reporter is hoping to talk to consumers who have purchased or considered a Jeep Compass and have never before owned a Chrysler. Please reply to ctalati edmunds.com no later than Thursday, April 26, 2007 with your daytime contact info and a few words about your interest in the Compass.
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