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2013 and earlier Jeep Grand Cherokee Lease Questions

CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
edited February 2014 in Jeep
Hi everyone. Please use the following discussion to post any questions that you have about leasing a Jeep Grand Cherokee. Thanks.

Car_man
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Comments

  • fxsportfxsport Member Posts: 13
    Hey,
    Can you tell me the curretn lease rates on the Jeep Overland with DVD? The dealer is quoting no money down (inceptions roughly 2k) $41,200 price at $577 month 12k miles 39 months. MF .00214 and residual 55%

    Thanks!
  • chiefbiggchiefbigg Member Posts: 4
    Local dealer has following offer.

    05 Jeep GC Laredo with MSRP of $29,195. Sales price after rebates of just under $23K I think. I have not negotiated a final price or even talked to the dealer.

    The offer is 39 months for $289/mo. 12K mi/year. 1st month and security deposit due at signing.

    For assumptions sake, let's say I could negotiate so that I paid no security deposit. Is this a good deal?
  • asd302asd302 Member Posts: 65
    can you tell me if this is a good deal based on the current chrysler financial numbers.
    27mo, 12k/yr
    MSRP: $40160
    NEG Price: $35500
    Rebates : -$ 6500
    NetCapCost:$29000 55% residual ($22088), .00063 MF
    PA State Tax 9% on leases, they are quoting $349/Mo + Tax
    which makes it roughly $377, is this right, it seems to me it should be a bit lower, maybe $300-$320, any help would be appreciated as they only have two left!! Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you are looking for, fxsport. If you were to lease a 2006 Jeep Grand Cherokee Overland 4WD through Chrysler Financial right now for 39 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00206 and 53%, respectively. When negotiating your lease on this truck, make sure to take the $2,000 lease cash and $1,000 bonus cash, $3,000 total, into account.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    This is a very good selling price for this truck, chiefbigg. According to my calculations though, a 2006 Jeep Grand Cherokee Laredo with an MSRP of $29,195 and a selling price of $23,000 leased through Chrysler Financial right now for 39 months with 12,000 miles per year should have a zero down, pre-tax monthly payment of around $268.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi asd302. I'm not sure where you got the $6,500 in incentives from. According to the information that I have seen, DaimlerChrysler is currently providing $4,500 lease cash plus an additional $1,000 bonus cash, $5,500 total on the 2005 Jeep Grand Cherokee Limited right now. Perhaps you are a returning lessee who is taking advantage of the $1,000 lease loyalty cash. However you arrived at it, $29,000 is a heck of a selling price for a $40,000 truck :surprise: . The money factor that you were quoted is much lower than any I have seen being offered by Chrysler Financial right now. According to my calculations, if you were to lease this truck through CFC for 24 months with 12,000 miles per year, its zero down, pre-tax monthly payment should be around $354. As you can see, the payment that they quoted you is pretty close to the one that I came up with using Chrysler Financial's actual current lease program.

    Car_man
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  • andurilanduril Member Posts: 56
    So the dealer has not one, but TWO left! There's no need to hurry; business is almost certainly very slowwww...and the dealer has TWO!!!

    Using your figures and Edmunds' lease calculator I compute a monthly lease payment of $288 + tax. The calculator at LeaseGuide.com yields the same result.

    So why the discrepancy between this figure and the dealer's $349? I suspect the dealer is including assorted fees in the payment, like documentation, registration, license, acquisition, disposal, and heaven knows what else (possibly at inflated prices). The reg and license fees are likely state mandated, but the others are negotiable - or should be. I suggest you ask that they be waived! In my opinion that's a reasonable request on an '05 left-over, particularly in today's slow bus environment. A doc fee of, say, $250 is a rip-off, since it probably costs no more than $10-$20 for a dealership to prepare paperwork on the sale or lease of a vehicle. Refuse to pay it.

    Car_man is correct about the $29,000 reduced cap cost. I estimate that your negotiated lease price of $35,500 before rebates is ~$1100 below Edmunds' invoice. Has the manufacturer discounted the invoice price to your dealer? A 5% (of MSRP) discount wouldn't surprise me and that wouldn't include any holdbacks, either, which the dealer would still get. (In your case, 5% of MSRP = $2000, approximately, which would reduce the invoice cost to about $34,600. So your negotiated price leaves the dealer with about $900 profit, less advertising and assorted incidental costs, but not including holdbacks. That $900 is about 2.5% of the adjusted dealer invoice - a reasonable profit in my opinion).

    Before the days of customer rebates a 5% discount by auto makers was common practice at the end of the model year and may still be, even when manufacturers are offering direct customer incentives. If so, that should tell you how slow business really is.

    My own experience with the purchase of an '05 Laredo at the end of October was similar; my dealer offered to sell me my JGC, before rebates, nearly $700 below Edmunds' invoice (leaving him by my estimate with about 3.7% profit after a 5% invoice discount, not including holdbacks). In fact, I didn't even ask. See my post #282 on the Prices Paid & Buying Experience discussion board in this forum.

    It's my understanding that most auto manufacturers grant Edmunds access to internal company Web sites, not available for public access, where manufacturer-to-dealer incentives and marketing support are listed. Edmunds then consolidates this information and posts it.

    But other incentives that not even Edmunds has access to can also exist.
  • asd302asd302 Member Posts: 65
    This price of $29000 does include the $1000 lease loyalty, I know that is a great deal cap cost wise, but I too calculated around $290+Tax and am wondering where the extra $60 is coming from! Thats roughly $2000!! They also did say that the new lease is through chrysler financial. Is there a way to find out if Chrysler has given a dealer the 5% invoice discount you talk about, and if so should I keep going for an even better deal? Oh, and they have two in the COLOR I want, about 7 on the lot with the same deal!
  • andurilanduril Member Posts: 56
    <<...Is there a way to find out if Chrysler has given a dealer the 5% invoice discount you talk about, and if so should I keep going for an even better deal?>>

    I suggest you ask your salesman, but, beware, he may not know, or may inadvertently give you incorrect information. In fact, getting accurate information from a car dealership is often like pulling TEETH. Asking your salesman's manager may not help, either, although he will know.

    If you feel so inspired and have lots of time and energy to run around town between dealerships, query the sales staff at more than one store. (And not over the phone or by email. No....face to face in a showroom....and be sure the store knows you are a serious buyer.) However, don't be surprised if some dealerships won't offer or negotiate an end-of-model-year discount that exists, particularly in today's world of direct and often confusing customer rebates, which constantly change.

    But that doesn't appear to be the case in your deal, so I think it's moot to ask your dealer about the discount. What your store offered is consistent with my premise of one, based on my own experience (and now yours).

    No, I don't think you will be able to do much better than what's offered, unless there's a discount greater than 5% or the store is willing to work even closer to invoice. Of course, it certainly doesn't hurt to ask (your decision). You won't embarrass yourself if you do!

    Regardless of what you decide, ask (insist!) that the non-mandated lease fees be waived and be prepared to negotiate hard. By that I mean standing your ground and budging only reluctantly if you need to, and only by a small amount.

    During my transaction last week I asked my salesman, "Do auto makers still discount left-over vehicles 5% at the end of a model year?" He said, "Yes." That answer was enough for me and I didn't question him further. Later, however, I phrased the question a little differently to one of the store's finance managers. He said there was no discount to the invoice. If that was the case, then the store dug deep into its holdbacks to close my sale.

    Fat chance of that (or I'm missing something).
  • stevernstevern Member Posts: 41
    Hi Car_Man. Can you post the numbers for a 39 month 12k & 15k miles/year lease on a 06 Jeep Grand Cherokee Laredo? Thanks so much! Steve
  • stevernstevern Member Posts: 41
    Car_man, In addition to my original inquiry on the JGC lease, do you know if there is any sort of "pull-ahead" type program going on now through Chrysler Financial? My current JGC lease runs through March 2006, but I know at times they have these such programs that "forgive" the last 3 - 4 payments if you lease another vehicle through them. Thanks so much! Steve
  • stevernstevern Member Posts: 41
    Car_Man, Are you out there?!?! Would much appreciate the information on the 06 Jeep Grand Cherokee. Steve
  • stevernstevern Member Posts: 41
    Hi Car_man, Sorry to bother you again, but I am trying to gather as much infomation as I could before I go to the dreaded dealer.

    Can you please post the money factor and residual for both the 2005 Grand Cherokee Limited with Hemi 12k/39 months and for the 2006 Grand Cherokee Laredo (V6) & Limited? My current lease is drawing near and I'd like to complete this as soon as possible. Thanks in advance, Steve
  • njdealguynjdealguy Member Posts: 13
    Hello,

    I am very interested in leasing a 2005 Cherokee Limited with a Hemi and the DVD in the rear for the kids. Bottom line loaded. I am seeing sticker prices for such models at about $42,500. I am willing to put about $2500.00 down. The current incentives appear to be $4500.00 plus an additional $1000.00 back. Should I be applying those incentives to the sticker price or the invoice price? Once I do how do I determine a fair and reasonable lease price? My goal is to be in the $500.00 a month range on my payment. Is that reasonable or not? any help will be greatly appreciated.

    Thanks
  • andurilanduril Member Posts: 56
    Please read my post #286 in the Prices Paid and Buying Experience message board of this forum.

    I won't comment on lease terms, other than to suggest that a $500 monthly lease payment is grossly out-of-line. You might be able to get a lease payment in the $350 range without putting much money down. Read recent posts on this board.

    To get that kind of a payment you will need to compute a fair and reasonable cap cost (lease price) carefully. I suggest that you do so according to the following formula, which assumes a 5% reduction in the invoice price of leftover 2005 models and a 3% (of invoice) profit to the store:

    adjusted invoice price = Edmunds invoice - 5% of MSRP

    Include the destination charge in the MSRP figure.

    (reduced) cap cost = adjusted invoice price x 1.03 - direct manufacturer-to-customer rebates

    Lets take an example: suppose the MSRP is $42,000 and Edmunds invoice price is $38,000 for your vehicle. (These are my approximate figures; use the manufacturer's window sticker and Edmunds invoice pricing - but NOT Edmunds TMV - to get the actual numbers.) According to Edmunds, the manufacturer-to-customer rebate on '05 JGC Limiteds is $5,500, so

    5% x MSRP = $2,100
    adjusted invoice cost = $38,000 - $2,100 = $35,900
    3% x $35,900 = $1,077 (profit to the store)
    reduced cap cost = $35,900 + $1,077 - $5,500 = $31,477

    The store still gets the usual holdbacks (as well as nearly $1,100 in profit!) and you get all of the direct manufacturer-to-customer rebates. Of course, you may feel that a 3% profit is more than you are willing to spend on a leftover 2005. If so, reduce the 1.03 factor. You won't embarrass yourself in the store if you do.

    Bottom line: by using this approach at your dealership you should be able to get a lease deal with a cap cost at least $10K below MSRP on your vehicle.

    And insist that the store waive its typical documentation fee, which was as high as $250 at stores I visited when I was shopping last month, and some or all of the usual junk lease fees. Be prepared to negotiate hard on this point, i.e., be firm and, if you need to, yield only grudgingly.
  • stevernstevern Member Posts: 41
    I just completed a lease deal on an 05 Limited (non-Hemi) on Wednesday. I went back and forth to a few different dealers and played the game. I was able to get mine at invoice minus $200 dollars for those doc fees, etc. I don't think anyone at this point is going 4 or even 5 % under invoice.

    The $5500 incentive gets subtracted at the invoice price (or negotiated price.) As most people will tell you, putting money down is usually not a good idea to simply lower your payment. The reason is, if the car gets totalled or stolen, that money is gone (the ins. company pays off the leasing company and you are out the $2500).

    Having said all that, the important numbers to know are for a 12k mile/yr/39 month lease through Chrysler Financial the residual is 49% and the money factor is .00129 (you can use the edmunds lease calculator to get a close estimate.) I think that you could be in the $500/month range with no money down. (And please don't tell them up front how much you want to pay per month, negotiate the price of the truck first and then work from there.)

    Good luck! I'm picking mine up today here in NY.
  • misterepmisterep Member Posts: 52
    I am buying a 2006 JGC Ltd. MSRP is 41,400. I am a EP(employee price)buyer. Yes, I am a real employee of Chrysler....

    I am interested in a 36 month lease, 12,000 mi per year.

    Thanks to this board...very informative.

    Regards, Riley
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Steve. Here's the information that you are looking for. If you were to lease a 2006 Jeep Grand Cherokee Laredo 4WD through Chrysler Financial right now for 39 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00175 and 50%, respectively. Its 12,000 miles per year residual value would be 2% higher.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey Steve. The the best of my knowledge, DaimlerChrysler is not currently running any sort of lease pull ahead program on the 2006 Jeep Grand Cherokee. It might now hurt to ask a dealer or two just to make sure though.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Steve, if you were to lease a 2005 Jeep Grand Cherokee Limited 4WD through Chrysler Financial right now for 39 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00129 and 49%, respectively. I already mentioned what the program for the 2006 Laredo 4WD is like in my previous post. The numbers for an otherwise identical lease of a 2006 Grand Cherokee Limited 4WD should be .00195 and 54%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're right, njdealguy. DaimlerChrysler is currently providing $4,500 customer cash plus $1,000 bonus cash ($5,500 total) or the Miles of Freedom plan on the 2005 Jeep Grand Cherokee. This cash is good on it regardless of whether you pay cash for it or lease it. The cash incentives are a much better deal than the silly Miles of Freedom plan is. The selling prices of leased vehicles definitely is negotiable, so you should not be applying these incentives to the MSRP of the vehicle that you are interested in, but a more attractive price that you have to negotiate. I don't know if you can get a dealer in your area all the way down to dealer invoice before the deduction of incentives on an '05 Grand Cherokee right now, but I bet than you can come fairly close, say $500 over or so. The monthly payment that you are trying to achieve may be attainable. I can tell you for sure if you provide me with the exact MSRP (including the destination charge) and selling price for the model that you want.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'm glad that you find this discussion so informative, Riley. I'd be happy to tell you what your lease payment on this truck should be like if you tell me the exact selling price that you are able to get it for through DaimlerChrysler's employee purchase program.

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  • mad55mad55 Member Posts: 1
    Hi, I just leased a Jeep Grand Cherokee Limited with Hemi today. The MSRP was $40,100. This car is for my son who just graduated from college. My goal was to get the monthly lease payments down to $320. The dealer started out at $395 and then with some resistance on my part came back with a $350. offer. I stood fast on my $320 number and he said it was not possible. That he would have to give the car away. I said I would check other dealers as there are many leftover 2005 Jeeps in my area( upstae NY ). We went outside and were discussing what dealer to try next and the sales person came out and said they were willing to go to $330. I decided that this was very resonable and made the deal. We basically bought a $40,100 vehicle for $30,000. The vehicle invoice was about $37,400 plus the $5500 rebate plus part of the "hold back". So I would try much harder to get a better deal. This deal was with no money down except for State tax and DMV fees. It was a 39 mo. lease with 12,000 miles. I belioeve the lease deal ends 11/30/05
  • misterepmisterep Member Posts: 52
    Car_man ,

    Thanks....yes. I enjoy the board! The shared experiences have been very informative and useful.
    As per my upcoming purchase....

    MRSP - $ 41,400
    Employee Price(Chrysler - 'Green Slip') 36,811
    The Model is a 2006 JGC Ltd.-most options
    My credit is excellent.
  • misterepmisterep Member Posts: 52
    Car_man,

    One additional point.

    I am eligible for rebates.

    Thanks in advance....
  • njdealguynjdealguy Member Posts: 13
    First I would like to thank everyone for posting responses to my first post. So the wife and I are going to a local jeep dealer tomorrow. They have 17 JGC with Hemi's in stock. The sticker / MSRP on the loaded models is 42K to 43K.

    Based on everyones feedback I will push for a lease payment of $350 a month with 15k miles per year with very little down. Any thoughts on how little the little down should be? $0, $250, $500, $1000 ????

    Also please let me know if anyone feels my numbers here are off? I dont want to embarres myself.

    Any help would be greatly appreciated.
  • stevernstevern Member Posts: 41
    Good luck tomorrow. I don't think that the $350/month range is likely. The incentives for December aren't as good as they were last month and I'm sure the residuals have gone down further.

    For a 42k - 45k truck, I think you'd easily be in the $450/month range. The little to put down? Usually first month's payment & DMV fees are standard.

    The thing on your side is the fact that they have so many leftovers and we are into December. It all depends on how desperate the dealer is to move them. Unfortuantely, the factory incentives are down to $4500 now, down from $5500 ($6500 if you were a returning leasee) last month.

    Good luck and keep us posted.
  • njdealguynjdealguy Member Posts: 13
    ok so $450.00 a month plus the first months payment. Along with their Miles deal where I get free gas for two years and free service, I guess its not a bad deal?

    I will let everyone know how I do.
  • njdealguynjdealguy Member Posts: 13
    Ok so we went to the dealer.

    First off as you know the incentive currently is $4500.00. Additionally if you finance thru Chrysler financial you get another $1000.00 off.

    They ended up offering a lease of $1500 down and $425 a month. Which was in my opinion high. Then I tried to throw my trade in into the mix. They low balled me by $2000.oo on that.

    So they then came back with $575.00. Needless to say we left the dealer

    Maybe they will call me back at the end of the month???

    Guess it depends how many they still have left.

    Anyway I hope this info helps others.
  • 6month6month Member Posts: 10
    I went to trade my 2002 GC at a local Ford Dealer on a new SUV. The salesman told me I was better off holding on the Jeep until the lease ends in Mar06 since it's diffucult to end a lease on a Jeep early. Is this true. I have some interested in purchasing the SUV what should I do now. Am I stuck with 2 SUV's until March ?
  • stevernstevern Member Posts: 41
    6month, I had a similar situation. My 03 JGC lease was set to expire in March 06. Chrysler financial has a "pull-ahead" type program where if you have 4 or less remaining payments, they will waive them assuming you lease another Jeep/Chrysler product. There is no penalty and you do not owe anything other than excess wear & tear.

    Also note, that you usually cannot combine this type of program with the usual $1000 lease loyalty that is typically offered. (My 4 remaining payments easily exceeded $1000 so I really lucked out on the deal.)

    If you want to pay off the lease early and then turn around and sell it, that is also an option. But, you will probably have to pay the remaining 4 months plus the buy-out unless, you can make a deal with Chrysler financial (assuming this is your leasing company. If Chrylser financial is not, than all bets are off for the "pull-ahead" program too).

    I am enjoying my 05 JGC Limited now (although some minor issues aside.) Thanks to Car_Man's information, I was able to negotiate an awesome deal on a left-over and get out of my 03 early without penalty especially since I would've been without the warranty for the last 4 remaining months (39 month lease, 36 month warranty.)

    Good luck.
  • dff22dff22 Member Posts: 1
    What are the best deals folks are getting on the 2006 Grand Cherokee Overland? The model i'm looking for has an msrp of $43325 and a dealer invoice of $39449. Car Man, can you confirm the incentives good through 1/3/06? I'm told that it's 2000 cash plus another $1500 if you finance/lease through Chrysler Financial. The best deal i've gotten has been $300 under invoice through a dealer who advertises and sells on ebay. Will probably cost me $500 to ship to me (NYC area). What deals are available in metro NY??
  • kronald3kronald3 Member Posts: 1
    I am considering doing the pull ahead into a new 06. The deal I have been offered for an 06 Cherokee with the 26X package and its a 4x4:
    MSRP: $33555
    Invoice: $30427
    Rebate $3500
    Residual: 52% 17448
    Money Factor: .00175

    Lease:$384/mo.
    Term: 39 months
    12,000 year.

    Good? How willing would they be to eat the 249 doc fee and 179 VIN etch fee. By the way, in state of CT
  • alexv2alexv2 Member Posts: 3
    hello, all. Here's my situation: I have a Jeep Grand Cherokee Laredo lease on a 2003 model that has 3 months to go and I am about 8,000 miles over my limit (and counting). Remaining monthly payments are 315 per. The dealer is offering me a 2006 Jeep Grand Cherokee (basic 26 package i have now) for 449 per month on a 39 month lease at 20,000 miles a year (i have 17k now) with no money down and they will assume the remaining payments on the lease and the overage on the miles. Does this sound reasonable?
  • ronald15ronald15 Member Posts: 21
    Just leased a 2006 Jeep Grand Cherokee Laredo 4x4 for $269.00 a month for 39 months with 12k miles per year. Total out of pocket was $557 which included 1st payment, doc fee, registration and title. Price did not include lease loyalty or military rebate. This dealership is in the Boston Area.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks for the additional information, Riley. OK, according to my calculations if you were to lease a 2006 Jeep Grand Cherokee Limited 4WD with an MSRP of $41,400 and a selling price of $36,811 through Chrysler Financial right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $553.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey misterep. If the price that you mentioned did not already take the available cash incentives into account, make sure to subtract the $2,000 lease cash and $1,500 Chrysler Financial bonus ($3,500) total that are currently available on the '06 Grand Cherokee from the price that you mentioned.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi dff22. The information that you were provided on this truck's cash incentives is correct. DaimlerChrysler is currently providing $2,000 lease cash plus a $1,500 Chrysler Financial bonus on the '06 Jeep Grand Cherokee.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi kronald3. If you are able to lease this truck at invoice minus the $3,500 in cash incentives that is available on it like I think you are saying that you can, you are getting a very good deal. I always advise consumers to look at all of the little fees that dealers try to pass on to them as part of their vehicle's total price, so in reality you are paying $249 over invoice for it once the doc fee is added in. This is still a good deal. I personally would refuse to pay the $179 VIN etch fee though. It can be done for much less money on your own if you really want to have it done. The lease money factor that you were quoted for this truck looks good as well. Having said this, I estimate that this truck should have a zero down, pre-tax monthly payment of around $321 if you were to get it at invoice minus the $3,500, so something doesn't add up here. Perhaps you are not really paying invoice for this truck afterall.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi alexv2. You never mentioned the selling price or MSRP of the new truck that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this truck's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion on the deal that you were quoted if you let me know what these numbers are.

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  • misterepmisterep Member Posts: 52
    Car_Man,

    Thank you very much! My price did not include the incentives so I will factor that in. My rough math tells me that $3,500 of incentives applied to the selling price should reduce the monthly (36 month) lease payment by about $100.

    BTW -- Chrysler employees get about 11 - 11.7% off Jeep MRSP depending on option levels. You tell them your 'green slip' number (old term) and the dealer shows you the EP price and off you go. Easy and a decent deal. You also are eligible for all incentives

    Car_Man - you run a nice board here. I appreciate your work and willingness to help us Jeepiphiles!

    Regards, Riley
  • gonzoegonzoe Member Posts: 5
    I'm looking to lease an Overland maybe this week or next and this board has been very helpful. THANKS. Although I have seen a lot of questions about what to expect to pay, I still haven't seen any answers... I'd like to have some expectations before talking to my dealer. I will post what I'm getting for others to see. Thanks for your help.
  • alexv2alexv2 Member Posts: 3
    Car Man: thanks for your response. Here's what I've gathered from Edmonds. The MSRP is $29,135; the invoice price is $26, 745; what people are paying in my area (Ct.) is 27,939 (without the 2,000 rebate) and the destination charge is $695. Again, I have leased 2003 Jeep with 3 months to go (315 per) and I am about 8,000 miles over my limit (17k per). I am being offered the 2006 Jeep Laredo (basic 26e package) for 39 months at 449 with 20k miles and they will take over my remaining lease payments and overage. Thanks again for the help.
  • misterepmisterep Member Posts: 52
    I noticed Chrysler Financial is not offering lease terms for the new Jeep SRT. That seems a bit odd. anybody have any idea what is going on? thanks..

    Riley
  • jeepuserjeepuser Member Posts: 1
    Car man need some help. Looking at an 05 4WD all the bells and whistles. When we went to look at the Jeep, the Dealer offered it at 30k to buy. How much more can I get them to drop the price to consider as purchase and what would be reasonable price for a lease. If do this it would be on the 30th or 31st.
    Thanks for help
  • jtpathfindjtpathfind Member Posts: 4
    Hi Car Man----thank you for a terrific resource. Could you post the December money factors and residuals for 2005 Grand Cherokee models? If it makes a difference, I am particularly interested in the Grand Cherokee Laredo or Limited, 4x4. Also, it appears that the total amount of incentives right now for these is $4500, but in some posts I have seen people reference an additional $1000 for going through Chrysler financial? Which is correct? Thanks again for all of your time and help!
  • jtpathfindjtpathfind Member Posts: 4
    Sorry---forgot to mention----I would be interested in the 39 month term (unless it isn't being "supported" like it was in Nov, and then I'd prefer 36 month), and 12,000 miles a year. Thanks again!
  • jtpathfindjtpathfind Member Posts: 4
    Still hoping to find out the December lease info please, if you're around this month. Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jeepuser. I suspect that you will be able to lease a 2006 Jeep Grand Cherokee for fairly close to dealer invoice right now, say a few hundred over, plus have the $2,000 lease cash and $1,500 Chrysler Financial bonus )$3,500 total) subtracted from its price. You can find the invoice price of the exact model that you want, as you want it equipped by looking it up in the following section of this site: Edmunds.com - New vehicle Pricing.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome, jtpathfind. Sorry for the delay in my response. I was away on vacation earlier this week. Let's take a look at the lease program for the truck that you are interested in. If you were to lease a 2005 Jeep Grand Cherokee Laredo 4WD through Chrysler Financial right now for 39 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00137 and 47%, respectively. The numbers for an otherwise identical lease of an '05 Limited 4WD should be .00129 and 49%. DaimlerChrysler is providing an additional $1,000 cash incentive for '05 Grand Cherokees that are leased through Chrysler Financial right now. This incentive is in addition to the $3,500 lease cash that is available on the 2005 Jeep Grand Cherokee Laredo and $4,500 that's available on the Limited.

    This lease program is only scheduled to run through January 3rd though. I should have an idea of what its new January lease program is like later on this week. Please feel free to check back with me than and I will tell you want the new program is like.

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