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2013 and earlier Jeep Grand Cherokee Lease Questions

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  • Hi CarMan,

    Can you let me know the current money factor and residual for a 2007 4x4 Grand Cherokee Laredo with x package and navigation for 39 months(or 36 if the numbers are better)and 12,000 miles. Thanks
  • Hi Car man,
    If possible can you give me the same info regarding post #338 for the same terms and vehicle for the 2008 model as well.
  • Hi! I'm not exactly sure where I should be posting, but I am in a difficult situation and I was wondering if anyone could help me! :) I had a 2001 Jeep Grand Cherokee that I actually totaled last Monday. I loved my car and it's the only car I really want. I'm kind of tight on money right now, but I'm desperate. I have a good paying job, but I'm looking to pick up another one, so I can afford something on my own. I am 17 years old and still attend high school, so my accident was an inconvenience for me. I'm trying to work through this stressful state of mind and I think I'm pretty much looking for a miracle. I'm not exactly sure if I can get someone to co-sign a loan for me, but I don't have very many options. If anyone could message me back or give me advice that would be greatly appreciated. :)

    Thank you,
    Candy
  • Hi CarMan,

    Can you let me know the current money factor and residual for a 2008 (October) 4x4 Grand Cherokee Laredo with x package and navigation for 39 months(or 36 if the numbers are better)and 12,000 miles. Thanks
  • Ahhhh, a fellow coffee lover. Some mornings when I need a little extra jolt, I just open up the bag and eat the grounds with a spoon ;) . Here's the information that you're looking for, coffeeman2. Chrysler Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Jeep Grand Cherokee Laredo 4WD with 12,000 miles per year are .00101 and 42%, respectively. When negotiating your lease on this truck, make sure to take the $4,000 cash incentive that is currently available on leases of it into account. If the specific model that you are interested in has been on the dealer's lot since March 1st or earlier, it is eligible for an additional $1,000 incentive.

    Car_man
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  • Hey coffeeman2. Here's the information for the '08 model. Chrysler Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Jeep Grand Cherokee Laredo 4WD with 12,000 miles per year are .00002 and 46%, respectively. Chrysler is only offering $1,000 lease cash on the 2008 model.

    Car_man
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  • Hi Candy. I'm sorry to hear about your recent accident. At least it sounds like you are OK. While losing your vehicle is certainly inconvenient, your health is by far the most important thing. Unfortunately, given your young age and your lack of full-time employment you may have a difficult time financing or leasing a new Grand Cherokee without someone to co-sign your loan. If you cannot find a co-signer, you may want to consider just picking up a less expensive vehicle for now. You should be able to buy a low mileage used domestic car for a very reasonable price.

    Car_man
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  • Hey coffeeman2. I posted this information for you a couple of messages back. let me know if you have any other questions.

    Car_man
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  • Hi CarMan,

    Please let me know the residual & money factors for a

    GC Laredo E Package 36 & 39 month lease - 12,000 miles/year

    GC Laredo Rocky Mountain Package 36 & 39 month lease - 12,000 miles/year

    Thanks in advance as this is my first lease and the GC look to have attractive incentives right now.

    Sorry if this double posts as I'm a newbie on the board.
  • Welcome douglasny. Don't worry about the double posts. I deleted the other one. Since you have never leased before, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    Here is the specific information that you're looking for. Chrysler Financial's current buy rate lease money factor and residual value for a 36 month lease of any 2008 Jeep Grand Cherokee Laredo 4WD with 12,000 miles per year are .00002 and 46%, respectively. The numbers for an otherwise identical 39 month lease are .00028 and 45%. Make sure to take the $1,000 lease cash that is currently available on this model into account when negotiating the capitalized cost for your lease.

    Car_man
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  • apologies but I was actually looking for the 2007 model #'s.

    Please post when you have a chance.

    Thanks a lot
  • Hello Car_Man,

    I have been looking at a 2008 Grand Cherokee Limited.

    Here is what I have been offered so far...

    - MSRP = $40,650

    - Offer is $34,647

    Discount includes:
    - $4,211 off MSRP
    - $792 Dealer Cash for MyGIG (available to dealerships, but not advertised)
    - $1,000 Lease Incentive

    - Residual = 46% (36 month / 10,500 miles per year)

    - MF = 0.00001 (yes, Four zeros. Supposedly there is a "top tier" lease program available by Jeep)

    Am I a fool if I do not take this or do you think there will be better offers by the end of the year? We don't need a new car until Dec/Jan when our current lease is up, but I am afraid I may "miss the boat".

    Thanks in advance for your feeback!
  • Hi Carhawk,

    Sounds like a great deal. I thought the cash was for MyGig with navigation which has an MSRP is $1650. I'm wondering if they should be giving you more than $792
  • Thanks Coffeeman2. According to Edmunds, the 2008 MyGig has an MSRP of $900 and an invoice cost of $792. This was consistent with what the dealership also informed me. It would be hard to pass on that one, but I am pushing to see if I can get another $500 off...
  • themisnthemisn Posts: 13
    Isnt there now $3k cash allowance on the 08 limited grand cherokee? I was curious to see how those leases worked out.
  • Hi,

    I am considering leasing a 2007 Grand Cherokee 4x4. V8 or Hemi. Limited for Overland.

    What should I be paying per month, what are the current money factors? How much should they be discounting the 07 now? Would getting an 08 make any sense? The mileage I think wouldn't much matter--the only reason I am considering leasing a new grand cherokee is because of the lifetime warranty and I am in Law School right now so low payments are key. I am toying between buying a used 01-04 vs. leasing, but I love that new warranty program having spent 3500 on a differential on my old grand cherokee.

    Also, does anyone have any thoughts on the differences between limited/overland or whether I should get a hemi?

    ps. anybody have experience getting out of Honda leases? I made a mistake and leased an accord 6 months ago and I hate it!
  • We went with the 2008 Limited (Hemi, MyGIG Navigation and 18" Chrome Rims) for my wife.

    Money factor is 0.00001
    Residual = 46%

    MSRP = $41,790
    Sales Price = $35,451 + Tax/Title/License
    (There is a $1,000 rebate and also an incentive to dealers on MyGig Navigation)

    We put quite a bit down, $5,000, and our payments are $378/mo for 36 months (10,500 miles/yr)

    I drive a 2007 Grand Cherokee Overland (Yes, we love Jeeps). The 2008 Limited is very much the equal, here are some of the upgrades they made to the 2008 Limited since 2007:

    - Standard V8 has much higher output, over 300hp (We only took Hemi on our 2008 as they could not locate one with preferred options without)
    - Rear seats are heated (not available in 2007)
    - Mirrors on Limited or Color coded with body (2007's only had this for Overland)
    - Front Fascia much improved and fully matches body color (lower air dam on 2007 was black on Limiteds)
    - Interior upgraded, nicer control layout.
    - Dash display is totally new, very nice white digital look
    - Navigation system is upgraded with touch screen (MyGIG)

    If you buy, a 2007 might make sense. If you lease, then the 2007 would have a worse residual...might even have a lower lease payment with the newer 2008 in a lease.

    Payments are typically less with a lease than a new vehicle, but it is very important you maintain the vehicle and are careful not to exceed your mileage limits.

    Hope this helps!
  • Hello Carman, hope all is well.
    I was hoping you could provide me with the residual and money factor for a 2008 Jeep Grand Cherokee Laredo 4x4. I want to do a 15K mile lease for 36 or 39 months.
    Thanks a lot.
  • themisnthemisn Posts: 13
    Was that 5000 down or 5000 out of pocket? Did that payment include tax?
  • Not sure what difference is between down and out of pocket. We gave them a check for $5,000 as down payment. This included tax, title, license and also reduced the capital cost. The monthly payment is final payment that we will incur - including taxes, interest, etc.
  • Hello Car_man,

    I'm looking to lease an 08 Grand Cherokee Limited. Could you please provide November residuals and money factor for a 39 month 15k mi/yr lease? Thanks.

    Also, jeep.com is only showing a $500 rebate for a lease on an 08 limited gas engine, with no lease loyalty incentives. But, when I build one, their car configuration program is showing $3500 off. Do you have any insight into what the actual rebates are for november?

    The site lists 2 incentives:

    Grand Cherokee Limited/Overland (Gas engine) $500
    Grand Cherokee w/gas engine (excl. SRT8) $3000 lease cash $1000 lease loyalty
  • Figured out the incentives, but still looking for November residuals/MF on a 36/39 month lease, 15k miles a year for a 2008 Grand Cherokee Limited 4x4 w/ 5.7L. Thanks.
  • Ahhh, you were interested in info on the 2007 Grand Cherokee. Unfortunately, Chrysler is no longer providing lease support on 2007 models. You can still lease one through Chrysler Financial, but if you do you will have to use its standard lease program. You would probably be better off going with a 2008 model at this point if you want to lease.

    Car_man
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  • Hi carhawk1. You definitely will not miss the boat by waiting until November or December to lease your new Grand Cherokee. The $4,200 dealer discount that you were quoted looks very attractive to me, but Chrysler has dramatically increased its cash incentives on the 2008 Grand Cherokee since you made your post. It is now providing $3,000 lease cash plus up to an additional $750 regional bonus cash on this model. The MyGIG bonus is still there as well. Make sure to take these higher cash allowances into account when negotiating your lease. By waiting to lease, you are now closer to the scheduled end of your current lease plus the incentives that are available on the truck that you want actually increased.

    Car_man
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  • Greetings joshmmm. Chrysler pulled the plug on its lease support on 2007 models. If you really want to lease, you would probably be better off going with a 2008 model at this point.

    This truck's lease program varies by term and mileage allowance. You never mentioned how long you want to lease it for or what mileage allowance you need, so for now I will assume that you are interested in a 36 month lease with 12,000 miles per year. Let me know if you want something different. Chrysler Financial's current 36 months buy rate lease money factor and residual value for a 2008 Jeep Grand Cherokee Limited 4WD with 12,000 miles per year are .00001 and 45%, respectively. The numbers for an otherwise identical lease of a 2008 Grand Cherokee Overland 4WD would be .00017 and 45%.

    When negotiating your lease on these trucks, make sure to take the $3,000 lease cash and up to an additional $750 in regional bonus cash into account. The cash incentives will help you to negotiate an attractive capitalized cost for your lease.

    You never mentioned the selling price or MSRP of the exact 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 what this vehicle's selling price is 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 work up a sample lease payment on the Grand Cherokee that you are interested in for you if you let me know what these numbers are.

    Car_man
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  • Things are going very well, deejay2099. Thanks. Here's the info that you're looking for. Chrysler Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Jeep Grand Cherokee Laredo 4WD with 15,000 miles per year are .00041 and 44%, respectively. The numbers for an otherwise identical 39 month lease are .00091 and 43%. Don't forget to take the lease cash that I mentioned in previous posts into account when negotiating the cap cost for your lease.

    Car_man
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  • Hello rpenna. Here's the information that you're looking for. Chrysler Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Jeep Grand Cherokee Limited 4WD with 15,000 miles per year are .00068 and 45%, respectively. The numbers for an otherwise identical 39 month lease are .00120 and 44%.

    As far as the cash incentives that are available on this truck go, Chrysler is currently providing $3,000 lease cash plus up to an additional $750 regional bonus cash on the '08 Grand Cherokee. Make sure to take this cash into account when negotiating your lease.

    Car_man
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  • Hi everyone,

    Talked to my salesperson last night, this is the final deal, which I'll be taking:

    2008 Grand Cherokee 4x4 Limited with 5.7L Hemi

    36 month lease / 15k miles/yr

    MSRP: $42,600
    Residual: 45%
    Cap Cost: $36,100 (includes $3500 in rebates)
    Money Factor: 0.00021 (0.5%)
    Additional Fees: $700 (I forget what this was, doc / dealer fee)
    Total out of pocket: $1000

    Monthly payment: $507

    This includes 7.25% sales tax.

    It seems like a good deal to me. They started at 37,200 which made the payment 536/mo. I pressed them for 495/mo but they would not budge. I wasn't going to kill the deal over $12/mo.

    Thanks to everyone for their experiences, it was a great help going into the negotiations.
  • Hi rpenna. Congratulations on arriving at a deal that you are happy with on the Grand Cherokee that you are interested in. Thanks for taking the time to share the details with everyone. Make sure to stop by the new Dealer Ratings & Reviews discussion to share your thoughts on your recent dealer experience. Thanks again and enjoy your new ride :shades: .

    Car_man
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  • We were going to get a Chrylser 300C loaded, but decided to stick with what we've had for years: a Jeep. People can slam gas mileage and everything else, but when we go "up north" in Michigan the capability is incredible. Anyway, this is our 5th new Jeep (Commanders and GCs) and this has to be by far the best deal we've made.

    2008 GC Overland 4WD, only option white letter tires
    MSRP: $44,325
    Sale Price: $36,903
    Net Cap Cost: $32,342 (liscense, acq, fees, taxes, rebates, 1st payment)

    36 mos, 10,500 miles = 46% residual
    Rebates total: $6,000 (we're eligible for everything including Employee price/bonus)
    Monthly payment: $395 even including 6% tax
    Money factor: .00077 (a little high, but I know why and still 1.8%!)

    $0 due at signing "Sign and Drive"

    I pushed the price down some, but didn't have too much to push. Detroit region by the way. If you can get all the rebates and the EP pricing, this is hard to pass for a $44k SUV.
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