grayspeckledgoose wrote:
muah wrote:I'm confused too.
Even if they only valued the Jeep at $10K, your payments should be $192, not $390!I'm confused.
$10K? It wasn't $10,000 when I got it. It was $23,500....with around $6,000 down....which would bring it to $17,500.
I know they have a set "value" that you can continue to make payments on, once the lease term is up. I just don't know what that particular number is. It's on my paperwork, which is in my glove box, and I don't want to go outside because it's raining.
I think this is how it works - The car was worth $23,500 when you bought it, and Jeep will tell the dealership what they think the car will be valued at, at the end of the leasing term (after 39 months). If Jeep said the car should be worth $10,000 after the 39 months, then you should be paying the difference ($13,500) over the term of the lease. So I took $13,500, subtracted $6K that you put down, and then divided it by 39 to get the monthly payments. I came up with $192. I would add SOME to include taxes and things, but not much. Maybe I have the whole leasing thing wrong, but I was under the impression that that was how it worked.
It sounds more to me like you bought the car. Are you sure you didn't?
