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2014 Jeep Grand Cherokee Lease Questions

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  • kyfdxkyfdx Posts: 28,733
    2014 GC Laredo 4x4 36mo, 12K/yr lease
    .00017 MF and 56% residual.. Subtract 2% for 39 month lease

    Yes, residual is taken as a percentage of the bottom line on the Monroney sticker... no additions or subtractions...

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • andymsnandymsn Posts: 14
    kyfdx - I am a recent lurker on this forum and I want to thank you for all of the time you expend here to help us understand these issues.

    What is a "Monroney" sticker? Are you referring to MSRP?

    Might you have a brief thought on the following deal? Is Ally really offering a better deal than Chrysler Financial? It seems that Chrysler may be better at their promotional lease rates, but perhaps the dealer doesn't want to "sell" the car for a figure that makes that work?

    I have been negotiating on a 2014 GC Laredo 23E package, 18 in wheel/8.4 in Radio Group that has a sticker of $35,285 (including $995 destination charge).

    Here's an excerpt of an email from the dealership for the numbers I've been quoted:

    Ally leasing is the better program at this time. They use a rate instead of a money factor, and have a 2750 rebate available that is not otherwise available. It offsets the rate, and gives us lower payments than Chrysler Capital.

    MSRP 35,285.00

    Selling price 32,473.00
    Ally Lease rebate -2,750.00

    = 29,723.00 + tax, tags and processing

    Your Lease numbers with 0 down and 1st payment due at signing....

    24 months x 12k miles = 476 / month
    24 months x 15k miles = 489 / month

    36 months x 12k miles = 405 / month
    36 months x 15k miles = 423 / month

    The rate used for 24 months is 8.2. And the rate for 36 months is 6.55

    Residuals...

    24 mo x 12k = .69 x 35,285 = 24,346.65
    24 mo x 15k = .68 x 35,285 = 23,993.80

    36 mo x 12k = .62 x 35,285 = 21,876.70
    36 mo x 15k = .60 x 35,285 = 21,171.00
  • kyfdxkyfdx Posts: 28,733
    What is a "Monroney" sticker? Are you referring to MSRP?

    Yes..

    I don't have Ally rates.. In the end, all that matters is your money upfront and your payment, all other variables being equal..

    It's not unusual for other banks to be competitive on lease rates with either GM or Chrysler.... the bankruptcy caused a lot of changes with their captive finance companies, and the resulting structure has introduced some competition.

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Hi guys, first time leasing so looking for some guidance. I got this quote today in LA, they said there is a little room to negotiate (was there for 15 minutes only)

    Any thoughts/insights are appreciated!

    Thanks!

    Cash sale price 43190

    Acquisition fee 505

    Vehicle total 43785

    Cap reduction 2214

    Adj cap cost 41570

    Term 39

    MF 0.00054 (told them I have excellent credit)

    Res factor 49%

    Driveoff 3500

    Monthly base 544.83
    Tax 49.03
    Monthly payment 593.66
  • kyfdxkyfdx Posts: 28,733
    Well.. we need the MSRP of the vehicle to really get down to details, but I can tell you right off that they are marking up the money factor the maximum allowed... The base MF for a RWD Overland is .00012, and it looks like they are taking the maximum .00042 markup...

    Is that a 39 month, 12K/yr lease? (guessing from the residual).. That's around $675 month, factoring in your upfront money... That's pretty rich territory for a Jeep lease.... I'm sure you could beat it by shopping around..

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Thanks, good to know about the MF mark up. That's a huge difference! You can only lease through Chrysler financial, right?

    It seems that the MSRP is 44190, $3500 down at signing so there payments come to 593.86.

    Yes, 39 month, 12k ;ease.

    Thanks again!
  • kyfdxkyfdx Posts: 28,733
    Ally might have a lease program, but I doubt it's better than Chrysler Finance. Plus, the dealer would use it, if it gave a cheaper payment...

    I really have no idea what the market is like for the 2014 Grand Cherokee, but a $1000 discount and maximum money factor mark-up doesn't sound like a very good deal... Of course, if you were just in there for 15 minutes, they may have just been throwing out the top price, to see if it would fly..

    If you get a price that is $2000 lower, and the base money factor, that would knock an easy $80-$85/month off of your total payment... But, I don't know if that is a good deal.. Check out the Prices Paid discussion for the Grand Cherokee and see what people are paying....

    These are huge payments for a $44K vehicle... If you drop down to the RWD Limited, the residuals are 4% higher...

    MODERATOR
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  • cmyk32cmyk32 Posts: 1
    Here's what I've been offered, I know I can get more off this price but don't know how much is reasonable/a good deal.

    3 years/36k miles
    MSRP - 48,380
    Price - 45,021
    Rebate - 1,000
    MF - .00009
    Residual - .52
    Acq fee - 595
    Gov't fee - 145
    Taxes in IL - 3,293
    Doc fee - 164.30

    Lease price - $646/month with all taxes and fees included w/ zero down, only 1st month's payment due at signing
  • Hi Carman,
    After driving the outlandish SRT, I'm strongly considering a lease since I love the gas mileage. :)

    Can you please let me know the RV and MF for a 24/10K lease?

    Cheers!
  • kyfdxkyfdx Posts: 28,733
    2014 JGC SRT8 24mo, 10K/yr lease
    .00046 MF and 56% residual

    Looks like you'll have a payment that will match your fuel bill.... ;-)

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • I am looking at the 2014 GC Limited to wrap up at the end of this month. Can you let me know what the money factor and residual are for 36 months / 15k miles per year?

    Thanks in advance.
  • kyfdxkyfdx Posts: 28,733
    2014 GC Limited 4WD (?) 36mth/15k
    .00017 MF and 54% residual.

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • mbl10mbl10 Posts: 2
    Hello All,

    I am new to this forum and would like to share a lease offer I received on a 2014 GC Limited 4x4 w/ the sunroof & 8.4N Radio/NAV option packages included. This lease is in New Jersey. Do you think this is a good deal?

    39 month / 15,000 per year w/ $0 down. No lease loyalty or rebates included.
    MSRP: $40,880
    Cap Cost: $39,163.00
    Sales Tax: $1,339.69 (7% in NJ)
    Gross Cap Cost: $40,502.69
    Residual: $21,257.60
    MF: .00039
    Monthly Payment: $517.55 includes tax
    Total due at signing: $1210.05
    Includes: 1st months pymt, Doc Fee ($289), DMV reg, title/lien fees ($396) & NJ tire tax (7.50).
  • insidecarbuyinsidecarbuy NYCPosts: 95
    Keep shopping…. With $1,210.05 total due at signing you should be at $457.00. You have another $60 per month you should be saving at least, if not $65-$70.
  • nyccarguynyccarguy Stamford, CTPosts: 7,591
    You get much more than a $1717 discont off sticker.

    2001 Honda Prelude Type SH/ 2011 BMW 328xi / 2011 Honda Pilot EX-L w/ Navigation

  • mbl10mbl10 Posts: 2
    Insidecarbuy,

    Thanks for your reply. How did you come up with $457.00? Are you calculating using a lower cap cost that can be negotiated?
  • ljnaumljnaum Posts: 3
    Im shopping for a GC Limited with lux group ii/Nav.
    24 month lease 12k miles per year
    MSRP $44,785

    $3000 down/ $395 per month

    I apologize I do not have more details to provide, it was a quick quote from the dealer and I will be going back to discuss more soon. Based off the info given, can I get a better deal?
  • insidecarbuyinsidecarbuy NYCPosts: 95
    Yes - lesser selling price, lesser fees and different bank. When leasing a Jeep you have the option on using 1 of 5 banks to hold the lease. They are all pretty competitive. But there is always 1 that is usually $12-$18 better per month than the rest.
  • jgavjgav Posts: 12
    I am considering a lease deal on a 2014 Grand Cherokee Overland Hemi and could use some opinions or suggestions from the community.
    My current lease, a Range Rover sport has 2 remaining payments of $889.00 before lease end. I am considering the Jeep and was offered this deal from a dealership in N.Y.. I am curious to hear what people think, Is it Good, Bad or Ugly?
    A 2014 Overland Without the tech package. 36 mos, 15K miles per year. I would pay tax, title and fees upfront totaling aprox $4,000. I believe the Msrp of the vehicle was $50,800. With this lease the dealership would pay the remaining two payments of the range rover totaling aprox $1800. I would still be responsible to turn in the RR to the dealership myself to incur any damages overage in miles etc. The monthly payment quoted was $635.00. per mos.
    I should note that the reason I am considering this is because the Range Rover is aprox 1200 miles past the alloted mileage for the lease term and although there are only 2 payments left on the truck I am not scheduled to return it until the end of January. I am also concerned that I would be unlucky for the brakes or some other unforseen item to go on the truck requiring a hefty cost right before i return it.
    Any help or suggestions would be greatly appreciated. Thank you in advance.
  • Again kyfdx, thank you! Always appreciated. I need clarification. I see others on this forum including the destination charge in the MSRP when figuring the residuals. I may have confused Bank Fee and Destination Fee in my initial question and did not word properly. I will include the destination fee in my residual calculations…..right?

    What confused me is that when negotiating with the dealer I was told of a $995 bank fee which coincidently is the same as the $995 destination charge. I checked my current Jeep lease documents with Hann Financial and my BMW lease with BMWFS and neither have any up front bank fees. Is this charge legit? According to the dealer my proposed GC lease is with Chrysler Financial.
  • kyfdxkyfdx Posts: 28,733
    Right.. the destination is part of the total MSRP, and that is what the residual is based on....

    I'm sure your other leases had bank fees, they were just rolled into the payment....

    $995 bank fee is either marked up a lot for extra profit, or it's being run through a bank like Hann or USBank, instead of Chrysler Finance... That seems excessive...

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  • kyfdxkyfdx Posts: 28,733
    Part of the benefit of trading out of a lease early, is to not have to deal with those lease-end issues... All this dealer is doing is giving you cash to cover your last two payments, which surely is raising the cost of the new lease.. And, you still have to worry about what charges you might incur.

    Plus, even if you pay off a lease early, they may not accept your early turn-in. If they won't, you'll have to keep it insured, etc..

    I understand the trepidation of having a high-maintenance vehicle nearing it's lease end... but, I think you are giving away more money by jumping into a new vehicle that you could possibly save by ending your lease early.

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • jgavjgav Posts: 12
    seems like a great deal. can i ask where you are located?
  • bja104bja104 Posts: 26
    Kyfdx, do you have November lease rates and money factor for the following?

    2014 Grand Cherokee Limited 4x4, 36 (and 39) month lease, 15k miles per year, Chicago metropolitan area.

    Thank you.
  • kyfdxkyfdx Posts: 28,733
    2014 Grand Cherokee Limited 4x4 39mo, 15K/yr lease
    .00028 MF and 51% residual

    The 36 month residual is also 51%, interestingly enough..

    The Grand Cherokee acquisition fee is only $295, this month.

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • elliemaejelliemaej Posts: 46
    edited November 2013
    Hi,
    Can I get the MF and Residual for a 2014 GC Limited with 10k/12k miles for 24 and 36 months in New Haven County, Connecticut. It has been many years since I have leased with Chrysler, anything I need to know? I see on this forum that there are other "banks" that the dealers can work with?
    Also, I am used to leasing with Ford, any differences I need to know? Taxes, ets?

    Thanks in advance.

    Ellen
  • kyfdxkyfdx Posts: 28,733
    2014 Grand Cherokee Limited 4x4 39mo, 12K/yr lease
    .00028 MF and 53% residual

    The 36 month residual is also 53%, interestingly enough.. 24 month programs are not that good.

    The Grand Cherokee acquisition fee is only $295, this month.

    The dealer will use whatever bank gives the lowest payment for given parameters.... This program is pretty aggressive.. I'd be surprised if any other bank would come close to the 39 month program.

    As far as differences between leasing Chrysler or Ford? None that I know of..

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • deevedeeve Posts: 10
    edited November 2013
    Hello kyfdx
    I am trying to figure the MF and Residual on a 36/39 month lease comparing 15k/12 year on a 2014 Grand Cherokee 4x4 Limited with the 3.6, tow package and LuxuryGroup II and 20" Wheels. The deal will be in Oregon. Incidentally, the salesman told me a lease will be 700-800 a month today, so I think he may have been confused.

    Thanks!
    Dave
  • deevedeeve Posts: 10
    Would those numbers change for an Overland?
  • kyfdxkyfdx Posts: 28,733
    The numbers you asked for are in the post just above yours.... Subtract 2% from the residuals to go from 12K/yr to 15K/yr..

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

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