Monthly Payments - Jeep Compass Forum
 
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post #1 of 5 Old 06-20-2011, 03:29 AM Thread Starter
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Monthly Payments

Hey all,
I am looking to lease my wife a 11 Compass Limited. I was wondering what payment everyone is paying for theirs. Whether it's a limited or lat I would like to get a rough idea of how much it would be. Thanks for time and help, John.
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post #2 of 5 Old 06-20-2011, 03:29 PM
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setting aside for the moment that this is a very personal question, your payment could be anything you need it to be, really. a payment is simply a reflection of paying back the amount of money your borrow over a certain period of time. the less money you borrow, the less your payment. the larger the amount of time you pay it back, the less your payment. so many things go into affecting your payment that it can be anything. a fully loaded limited could have a $1,000 payment if you financed it for 36 months. or a sport could have a $250 car payment at 84 months. have a trade and money down? that will affect it even more. money down? another effect in the final payment.

short answer: there is no gold standard to what the payment "should" be. it can be anything, it's different for each situation. a general rule of thumb for a 60 month (5 year) standard loan is that for every $1,000 you borrow, add $20 to your payment. IE a $20,000 loan should be roughly $400 a month. a $25,000 loan should be roughly $500 a month, and so on.
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post #3 of 5 Old 06-20-2011, 03:57 PM Thread Starter
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Hey Smart,
I understand how loans work, I've bought several cars past couple years but thank you for info. I am just trying to get a rough idea of what people are paying. This way I don't have to deal with a dealership and all that. I can just find payment people are paying here. This may be personal to you but
In the other owner clubs I am part of I've seen threads of people talking about what they paid and what's their payment to help others make sure they get a fair deal. That is what I am trying here. Thank you though for the info.
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post #4 of 5 Old 06-20-2011, 06:44 PM
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but the payment has little to do with what they paid. i can understand asking what everyone paid for a jeep, but some people may have put down $10,000k and got a $500 payment. a payment is a poor judge of what a fair asking price is.

if you're looking for a fair no haggle deal, you could drive a little ways and come see me. we have 18 compasses on the lot at the moment. i'd love to sell a forum member a car
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post #5 of 5 Old 06-21-2011, 07:14 AM
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I know its probably not that relevant to you but this is pretty much the route I took in the UK...

Jeep Compass 2.4 CVT Limited 4x4

On the Road Price 21,695
Customer Deposit 5,259
Amount of Credit 16,436
36 Monthly Payments of 269
Optional Final Payment (includes 295 Option Fee) 7,877
Total Amount Payable 22,820
Duration of Contract 37 Months
Rate of Interest (Fixed) 2.26%
Representative 3.0% APR
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