[Process212]

Hey guys, I’m looking for a little advice on a deal I just received from a dealer. It’s my first time leasing so any help is appreciated. I’m going to trade in my current vehicle since it hasn’t felt right since an accident and no one can figure out what is wrong with it.

Is this a decent deal or is there something else that I should push for?

 

[Sheepish Lord]

As a veteran leasee, do NOT put anything down on a lease unless you’re 110% sure you’re keeping it. If it’s totaled or you give it back to the dealer then it’s money gone.

Additionally, work the deals separately. Work your trade in then work the lease deal or else they’ll start rolling in your trade in into the vehicle as rebates or other BS which it’s not. Dealers love to treat your net cash as money down on the next purchase making you believe it’s cheaper…with your money ha.

 

[Joemama]

That doesn't seem like a good deal IMO And I don't know what the guy above is talking about you have to put down some type of Down payment. He clearly has never leased BMW of benz.

 

[BXFXJeep]

Hey guys, I’m looking for a little advice on a deal I just received from a dealer. It’s my first time leasing so any help is appreciated. I’m going to trade in my current vehicle since it hasn’t felt right since an accident and no one can figure out what is wrong with it. View attachment 9619
Is this a decent deal or is there something else that I should push for?

what is the VIN number?

 

[Mllcb42]

And I don't know what the guy above is talking about you have to put down some type of Down payment. He clearly has never leased BMW of benz

You certainly do not. Hell, you can do a sign and drive with ccap where not only do you not have to put anything down, ccap will pay your first month's payment in exchange for bump to the mf.

Even on bmw or mb leases, you can almost always do just first month's payment due at sale. Dealers just love to push big downpayments as a psychological tool to make the payment look more palatable. People balk a lot more at an extra $100/mo than $4k das.


I will disagree with using if you're planning on keeping it long term as being a reason to put money down on a lease though.

 

[DarenB68]

Well I'll just give you our exact lease terms because we got ours last week, albeit in Oregon so no sales tax. MSRP $61 ish, Discount $12500 and that included a $7500 gov. rebate. We put just shy of $6k down but that included all DMV fees, first payment etc. 10k miles per year 36 month lease. Monthly payment $398.

 

[BXFXJeep]

You need to determine if the MSRP is really the true MSRP, look at the thread link below. This is easy using the link in the thread.

That thread is a case where the dealer "MSRP" is $5,000 more than the actual Jeep MSRP. Dealer installed after market equipment should also be a red flag on markups.

https://www.jlwranglerforums.com/forum/threads/help-with-rubicon-4xe-purchase-that-has-lift-installed.110002/

 

[Process212]

what is the VIN number?

1C4JJXP69PW579730
MSRP is 64,715 according to window sticker, which is what is in the proposal.
This does include taxes, fees and first months payment so $0 out the door.

 

[DarenB68]

1C4JJXP69PW579730
MSRP is 64,715 according to window sticker, which is what is in the proposal.
This does include taxes, fees and first months payment so $0 out the door.

But $18k down correct?

 

[Mllcb42]

so $0 out the door.

Just to be clear, this is not $0 out the door. This is $6366 out the door, you're just paying for it in trade equity.

 

[Mllcb42]

But $18k down correct?

That value they're showing is inclusive of the incentives.

 

[DarenB68]

1C4JJXP69PW579730
MSRP is 64,715 according to window sticker, which is what is in the proposal.
This does include taxes, fees and first months payment so $0 out the door.

So actually you are effectively putting $6300 down as thats your trade in value?

 

[Mllcb42]

The quality of the deal comes down to a couple things here:

You have a pre-incentive discount of 3.4%. That's fairly low compared to what you can get with some dealers. Wranglers can be had with much bigger discounts than that.

Have you comparison shopped your trade vehicle to establish if that's a reasonable offer or not? Be sure to get quotes from several different buyers.

Are they marking up the rate at all? That 3.4% discount may be a good bit lower if they're making up for it on the back end up a marked up mf.

 

[Joemama]

You certainly do not. Hell, you can do a sign and drive with ccap where not only do you not have to put anything down, ccap will pay your first month's payment in exchange for bump to the mf.

Even on bmw or mb leases, you can almost always do just first month's payment due at sale. Dealers just love to push big downpayments as a psychological tool to make the payment look more palatable. People balk a lot more at an extra $100/mo than $4k das.


I will disagree with using if you're planning on keeping it long term as being a reason to put money down on a lease though.

I put the Down payment down to keep the monthly payment low. I will have the car 39 months no longer. If I didn't put anything down you are looking at a 700 a month payment.

 

[Joemama]

Well I'll just give you our exact lease terms because we got ours last week, albeit in Oregon so no sales tax. MSRP $61 ish, Discount $12500 and that included a $7500 gov. rebate. We put just shy of $6k down but that included all DMV fees, first payment etc. 10k miles per year 36 month lease. Monthly payment $398.

Wish we got the State rebate as well SC does not offer anything.

 

[Mllcb42]

If I didn't put anything down you are looking at a 700 a month payment.

You're essentially trading off the risk of the loss of money for the reduction in rent charge on that down payment value. The effective monthly payment doesn't change all that much. With a higher mf lease, some thought should go into the cost of risk mitigation.

For the most part, you're paying the cost either way... if $700/mo with no money down seems unaffordable but $600/mo with $4000 down seems fine, you're fooling yourself.

 

[Joemama]

You're essentially trading off the risk of the loss of money for the reduction in rent charge on that down payment value. The effective monthly payment doesn't change all that much. With a higher mf lease, some thought should go into the cost of risk mitigation.

For the most part, you're paying the cost either way... if $700/mo with no money down seems unaffordable but $600/mo with $4000 down seems fine, you're fooling yourself.

I would not lose money as I'd be going to court if someone totaled my vehicle. Family of attorneys and also work at a Huge corp law firm. I never put more than 2k down on a lease. But if I was not at fault I promise you I'd make up the down payment plus some.

 

[Mllcb42]

I would not lose money as I'd be going to court if someone totaled my vehicle. Family of attorneys and also work at a Huge corp law firm. I never put more than 2k down on a lease. But if I was not at fault I promise you I'd make up the down payment plus some.

And if you were at fault?

 

[Joemama]

And if you were at fault?

Then that would be a problem I would have to live with. Insurance has to make you whole. If I am worried about a few thousands I shouldn't be purchasing a 60k plus car.

 

[Joemama]

You're essentially trading off the risk of the loss of money for the reduction in rent charge on that down payment value. The effective monthly payment doesn't change all that much. With a higher mf lease, some thought should go into the cost of risk mitigation.

For the most part, you're paying the cost either way... if $700/mo with no money down seems unaffordable but $600/mo with $4000 down seems fine, you're fooling yourself.

Also If I financed the car I'd have to fight for diminished value which is extremely hard in this state. I know from experience.