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2015 Jeep Grand Cherokee Lease Questions

kyfdxkyfdx Posts: 30,476
edited August 14 in Jeep

Ask your 2015 Jeep Grand Cherokee lease questions, here!

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  • chasmochasmo Posts: 6
    edited August 15

    kyfdx, you are the best. Do you have the money factors and residuals for a 4x4 Altitude, 12K miles / 24 mos. and 36 mos.?

  • kyfdxkyfdx Posts: 30,476

    @chasmo said: kyfdx, you are the best. Do you have the money factors and residuals for a 4x4 Altitude, 12K miles / 24 mos. and 36 mos.?

    36: .00021 MF and 57% residual

    24: .00018 MF and 68% residual

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  • chasmochasmo Posts: 6

    @ kyfdx. Those resids look low - just making sure they are for the 2015?

  • MichaellMichaell ColoradoPosts: 7,253

    @chasmo said: @ kyfdx. Those resids look low - just making sure they are for the 2015?

    Ha - those are for the 2014.

    2015 numbers.

    24/12 - 63%

    36/12 - 57%

    Standard MF for both ... probably around .00200.

    So ... 2014's are more desirable as a lease this month.

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  • chasmochasmo Posts: 6

    Great and thank you for the quick replies. Interesting numbers. Don't know how anyone can generalize leasing when there are so many wide variables between manufacturers, years, rates, models and geographies. Thanks for being here.

  • MichaellMichaell ColoradoPosts: 7,253

    @chasmo said: Great and thank you for the quick replies. Interesting numbers. Don't know how anyone can generalize leasing when there are so many wide variables between manufacturers, years, rates, models and geographies. Thanks for being here.

    Agreed - and, the numbers can change every month.

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  • seanhelmesseanhelmes Posts: 12

    Looking for MF and residual value for 2015 Altitude 4x4 36 mo 12k miles. Connecticut area. Also, do you think there will be any deals on the 2015's for labor day weekend?

  • MichaellMichaell ColoradoPosts: 7,253

    @seanhelmes said: Looking for MF and residual value for 2015 Altitude 4x4 36 mo 12k miles. Connecticut area. Also, do you think there will be any deals on the 2015's for labor day weekend?

    Standard MF (around .00200) and 57% RV.

    No idea if there will be any specials on the 2015's for the holiday weekend. I suspect the dealers will be more interested in clearing out the 2014 stock they have on the lots.

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  • seanhelmesseanhelmes Posts: 12

    @Michaell said: Standard MF (around .00200) and 57% RV.

    I think you mean around .00020) and 57% RV. Having it at .00200 would make it roughly a 4.5% interest rate which is what you'd expect on a car loan, not a car lease, correct?

  • MichaellMichaell ColoradoPosts: 7,253

    @seanhelmes said: I think you mean around .00020) and 57% RV. Having it at .00200 would make it roughly a 4.5% interest rate which is what you'd expect on a car loan, not a car lease, correct?

    No, I meant .00200 as the 'standard' MF for Chrysler leases (which is really just a guess on my part). Most leases are subvented, or supported by the manufacturer, which is why they are so low.

    I see lots of money factors above .00100 - BMW, MB, Porsche, Lexus - but they also offer multiple security deposits which allow the customer to 'buy down' the MF. Most of the non-luxury brands do not have this option as the promotional MF is so low to begin with.

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  • seanhelmesseanhelmes Posts: 12

    @Michaell said: I see lots of money factors above .00100 - BMW, MB, Porsche, Lexus - but they also offer multiple security deposits which allow the customer to 'buy down' the MF. Most of the non-luxury brands do not have this option as the promotional MF is so low to begin with.

    Thanks for clarifying. Much appreciated and very helpful.

  • How do they configure the lease payment? 1. Start with total cap cost, (after any dealer discounts) incl. lease acquisition fee, title tax lic. Total cap cost. $32000.00. then subtract the R.V. Let's say 3 year 12k = 54%. Is the residual Value figured from the standard MSRP? Let's say yes. MSRP was. $35000.00. X 54% . RV = $18900.00. Then take the total cap cost $32000.00 less RV $18900 leaves $13100 in depreciation. Then take $13100.00 and divide by 36 = $363.88 monthly payment. Right so far? How is the money factor/Apr figured into this equation ? Money factor x $13100 ? Thank you

  • MichaellMichaell ColoradoPosts: 7,253

    @pklostermen said: How do they configure the lease payment? 1. Start with total cap cost, (after any dealer discounts) incl. lease acquisition fee, title tax lic. Total cap cost. $32000.00. then subtract the R.V. Let's say 3 year 12k = 54%. Is the residual Value figured from the standard MSRP? Let's say yes. MSRP was. $35000.00. X 54% . RV = $18900.00. Then take the total cap cost $32000.00 less RV $18900 leaves $13100 in depreciation. Then take $13100.00 and divide by 36 = $363.88 monthly payment. Right so far? How is the money factor/Apr figured into this equation ? Money factor x $13100 ? Thank you

    The depreciation part of the payment is right.

    To figure the monthly finance charge, you add the cap cost and the residual value together, then multiply by the money factor. (32000 + 18900) * .00014 = $5.73/mo.

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  • colt311colt311 Posts: 17

    Could I please get the RV & MF for 36 months on a 2015 JGC Overland Diesel 10K, 12K, 15K Thank you!

  • chrisj7845chrisj7845 Posts: 11
    Do you have the residuals and mf's for a 2015 summit and 2015 overland on a 24 month lease and 10k miles? Thanks
  • MichaellMichaell ColoradoPosts: 7,253

    @colt311 said: Could I please get the RV & MF for 36 months on a 2015 JGC Overland Diesel 10K, 12K, 15K Thank you!

    4x2 - standard MF (.00200 or so) and 53%

    Add 2% for 2k and 3% for 10k.

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  • kyfdxkyfdx Posts: 30,476

    @chrisj7845 said: Do you have the residuals and mf's for a 2015 summit and 2015 overland on a 24 month lease and 10k miles? Thanks

    4X4?

    Standard money factor. Summit: 60%, Overland: 64%

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  • cakellicakelli Posts: 5

    Is the MF on the 2015's expected to reduce over time? That is really high and I can't imagine leasing with that rate. Is this MR similar to the 2014's when they were first released?

  • MichaellMichaell ColoradoPosts: 7,253

    @cakelli said: Is the MF on the 2015's expected to reduce over time? That is really high and I can't imagine leasing with that rate. Is this MR similar to the 2014's when they were first released?

    After the 2014's are gone, I would expect the 2015's to have a more reasonable MF.

    I don't have any historical information, so cannot comment on whether the 2014 MF were the same at this time last year as Chrysler was trying to get rid of the 2013's.

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  • seanhelmesseanhelmes Posts: 12

    Looking for current MF and residual value for 2015 Altitude 4x4 36 mo 12k miles. Connecticut area. Also looking for the same on a 2014 so I can see the difference.

  • seanhelmesseanhelmes Posts: 12

    Looking for current MF and residual value for 2015 Laredo E 4x4 36 mo 12k miles. Connecticut area. Also looking for the same on a 2014 so I can see the difference.

  • MichaellMichaell ColoradoPosts: 7,253

    @seanhelmes said:

    Looking for current MF and residual value for 2015 Altitude 4x4 36 mo 12k miles. Connecticut area. Also looking for the same on a 2014 so I can see the difference.

    Looking for current MF and residual value for 2015 Laredo E 4x4 36 mo 12k miles. Connecticut area. Also looking for the same on a 2014 so I can see the difference.

    2015 MF is standard for all Grand Cherokees this month ... don't know the exact figure, but probably around .00200 or so.

    RV for 2015 Altitude - 57%

    RV for 2015 Laredo - 57%

    2014 Altitude and Laredo - .00021 and 57%

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  • seanhelmesseanhelmes Posts: 12

    @Michaell said: 2014 Altitude and Laredo - .00021 and 57%

    Thank you!

  • seanhelmesseanhelmes Posts: 12

    Should I lease a 2015 jeep grand cherokee or a 2014 for 3 years / 12k miles? What's the better decision from a cost perspective at this time of the year?

  • MichaellMichaell ColoradoPosts: 7,253

    @seanhelmes said: Should I lease a 2015 jeep grand cherokee or a 2014 for 3 years / 12k miles? What's the better decision from a cost perspective at this time of the year?

    Right now better deals are to be had on the 2014's.

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  • Hi I was looking for RV and Mf for a 2014 GC SRT and 2015 GC SRT for 10k. Thanks

  • kyfdxkyfdx Posts: 30,476

    @jacksoncm3 said: Hi I was looking for RV and Mf for a 2014 GC SRT and 2015 GC SRT for 10k. Thanks

    36 months?

    2014: .00020 MF and 50% residual

    2015: Standard MF and 48% residual

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  • Great and what is the residual and money factor on SRT 36/MO 10k if I did the IDL lease

  • kyfdxkyfdx Posts: 30,476

    @jacksoncm3 said: Great and what is the residual and money factor on SRT 36/MO 10k if I did the IDL lease

    We don't have independent bank lease numbers (like Ally), which you would have to use to get the IDL lease bonus.

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