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2013 and earlier Jeep Grand Cherokee Lease Questions

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  • Hi all
    I am new to the site as I have been happy with my 02 GC sport for a long time. I am looking to sell it now and use the cash for other purposes. So now that I live in a city I dont drive nearly as much and think a lease would work for me.

    I was scoping the model and extras below and if anyone out there can help me with targeting a good deal (cap cost/mf factor and lease payment) I would appreciate. The whole lease calculations I see here are great but no matter how many times I tried I cannot figure it out. I am in downtown st louis

    08 GC limited
    Green color upgrade
    5.7 hemi
    quarda drive 2 package
    trailer tow class 4

    thanks alot for your help!!
  • There are too many variables in the lease calculations to give you a resonably close estimate, such as local incentives, dealer cash,dealer discounts, down payment amount, credit rating, lease term,local and state sales taxes, etc. Try to find a similar vehicle in local dealer inventory and then use the payment calculator (lease option) to estimate a monthly payment for the lease term in months that you prefer. This will give you a high end estimate for your location. Any reduction below the estimate amount largely depends on your negotiating skills. Hope this helps.
  • Turbanski is right. Payment amounts are very specific to the car you want (trim level), your interest rate, and how much your get off the MSRP. If your credit rating is poor, you may not qualify for the best "money factor" (interest rate), which will raise your payment. Also, you have to to have the chops to negotiate yourself a great deal.

    I think the Jeep (Chrysler-Dodge) dealerships in general are negotiating fairly well on the models with larger, gas-consuming engines. We were surprised at how much we were able to get off the MSRP of our JGC Overland, but of course, we had no trade to deal with (we sold it separately to CarMax, making it easier to negotiate our deal).

    The way the lease works is this: Find out what interest rate you think you qualify for (within what the manufacturer is offering) and the residual value of the vehicle you are looking at. Factors that impact this value are specifically the car trim level (ie Laredo vs Limited vs Overland vs SRT) as well as 2WD vs 4WD and the number of miles you will drive it over the lease (15K per year, 12K per year. etc).

    If you ask car_man for specific figures on the vehicle you are considering, he should be able to give them to you. He will know the current lease money factor (interest rate) and residual value percentage for the vehicle you want--they come from the manufacturer. You have to tell him how many miles you expect to drive, how many months your lease will be for and which trim level of your car you expect to buy. Figure the residual from the MSRP (sticker), but your capitalized cost should be what you negotiate the price down to (usually plus tax, title, license),,,,then you should be able to calculate your payment. As stated by others, you can put money down to reduce your payment. But remember that if, by chance, you car gets totatled or stolen, that money is gone forever. So most forum experts recommend putting as close to zero down as possible when leasing.

    Some cars have better lease support (ie lower interest rates and rebates) than others. I got my Jeep GC last month, and they were offering a decent money factor/interest rate and lots of incentives ($4500 plus what we negotiated off of MSRP). It all works toward a much lower lease payment. In fact, we were able to get the JGC at a lower lease payment than the Liberty, whose sticker was $10,000 lower but had no incentives, either rebate-wise or lease/money-factor.

    By the way, my credit score was only around 700, and I was still able to qualify for Chrysler's lowest money factor/interest rate available for my vehicle. Don't know if it's because we were existing Chrysler Financial customers or not....

    I hope this info is helpful. Good Luck, and let us know how it works out!
  • Does anyone have the current money factors and residuals for the Grand Cherokee Overland & Limited for a 36 month, 10.5K/year lease?
    Also, is the MyGig discount still available?

    Thanks!
  • thanks alot for your help. I will get the information you mentioned above and post it for carman. Thanks again
  • jeep if you are looking to lease a JEEP GC please test drive it 60-80 MPH if it vibrates DO NOT LEASE OR BUYT IT they have a major problem with vibration at this speed
  • Major vibrations with GC 2007 DO NOT BUY OR LEASE
  • DOVER DODGE. rockaway NJ
    I can't get the problem of vibration on my new 2007 GC limited
    The service manager said he placed a call to Chrysler factory District manager about the major Vibration and the shifting into over drive @ 60+ MPH
    If you live in NEW JERSEY and are looking to BUY a new jeep...............
    make sure you drive it on rt#80 60-80 mph, If its vibrates at the speed........
    DON'T BUY OR LEASE IT. I HAVE BEE WAITING 3 WEEKS for the Chrysler district manager to set an appointment to see why my NEW JEEP GC 5.7 Hemi
    VIBRATES 60-85 MPH
  • Are you referring to all JGC'S or just the 5.7 Hemi V8? I just leased an 08 with the 4.7 V8 and it seems OK so far. (Under 500 miles).
  • i was hoping I could get some numbers ran for me

    I am looking at an 08 JGC 5.7L with an MSRP of 42,070.
    i am looking for a 24mth lease with 12k a year and $0 down.
    the dealer quoted me the below information, can you tell me if this is a good deal and what areas can i look to achieve an even better rate. This was the dealer's first quote so I obviously think there should be alot of room....but please tell me where to go with it.

    Payments $597.83 per month
    this has a 0.00050 money factor and a residual value of 53%
    it does not include license or sales usage tax.
  • My 2008 Hemi (5.7L) is fine so far (about 750 miles)....is the vibration problem pertinent only to the 2007 models?

    Thanks for the heads-up (although it's too late for me, if there is a problem!)
  • Hi , Does anyone know the residual value of a 2008 Jeep Laredo x package with the navagation package added in?

    Im also adding in 3 end payments from the current lease to the new lease totaling $1126. The dealer is quoting me $500 per month for 36 months and 12,000 miles. Do you think this is a good deal?

    Also if they are adding in 3 payments from my current lease should these payments include the interest per month that I have been paying or should these remaining 3 payments be reduced?
  • joejeepjoejeep Posts: 12
    Recently leased 3/36 08 GC Laredo V6 26X, Nav MSRP 36,910 Res. = 16,978
  • ok heres the breakdown.

    His offer is $30,650 for the 08 Jeep, 3.7, 26x package. This is already reduced by a 4,000 rebate. I do not qualify for the loyalty 1,000 because i am ending my current lease early. Also add on $1,125 for my remaining 3 payments of my current lease to his offer.

    Hes giving me $500 per month at .09 percent, 36 months, 12,000 miles. $0 down, only first payment

    the MSRP is $36,720 and the invoice price is $33,562
  • joejeepjoejeep Posts: 12
    My numbers were as follows:
    08 Jeep GC V6, 26X, Nav
    MSRP 36,910
    Inv: 33,729
    GCC: 32,972
    CCR: 5,000 (3K, 1K, 1K)
    ACC: 27,972
    Res Val: 16,978
    3yr. / 36K
    $325/mo (not incl tax)
    $100 toop

    Unfortunately, I am not very good at the lease calculations etc... At the time I qualified for all of the rebates etc... To be honest it sounds a bit high.
    I just came out of a lease on an 05 Hemi Ltd and was only at 460/mo. w/ tax..
    The 1200 in remaining payments should translate to $30 - $40 additional per month max.... I would try hitting a couple other dealers to keep them honest.
  • So basically im paying $465 per month for my lease taking away my final 3 payments added into it. Your 460 per month lease, did you put down a down payment or trade in?
  • rkoz1rkoz1 Posts: 14
    I have a 07 Rocky Mountain with the 4.7 that I purchased new in August. They still have not resolved my vibration problems. I was told that it is a characteristic of the Quadra-trac II system
  • joejeepjoejeep Posts: 12
    I don't have the details on my old lease. It was 460/mo. including 5% tax. not sure how much was put down. New Lease is 340/mo including 5% tax.
  • Thank you for the response. Did the vibration problem show up when you first purchased the vehicle or did it take awhile? As stated I have less than 500 miles and it seems fine so far. I have driven in the 65-70 MPH range briefly on the local interstate and it seems rock steady. Perhaps the problem has been corrected for the 08 model.
  • I have posted a possible source for the high speed vibration problem in the Jeep owners Care and Maintenance Forum. You might want to check it out.
  • Wait for three months....get your loyalty rebate. Screw them...
  • My understanding is that you can get the lease pull ahead (up to three months) or the bonus cash, but not both. The dealer should recommend the option that is most advantages to the purchaser/lessee. This is based on the December, 07 program which I believe continued in January.
  • I have 8 months left. They are paying 5 I am paying 3 of them put into the new lease. They are also giving me the rebates expect for the loyality
  • Every lease situation is a little different making a direct comparison difficult. The bottom line is the ACC or adjusted cap cost, which includes all taxes, fees, title,etc. after down payments and rebates. The ACC is what determines what the monthly payments will be. If you are happy with this amount, then its a good deal. Enjoy your new Jeep.
  • Thanks. My ACC is 30,121 for a 08 Laredo 26X package with Nav. $447 per month, 36 months, 12,000. I believe its a good deal.
  • CarMan or anyone else with the info,
    Can you please provide the current rate and residual Chrysler Financial is providing on the 2008 Grand Cherokee Laredo for a 36 month lease with 12K miles per year?
    Thank you.
  • Jeep just told me yesterday the residual is 45% for a 2008 laredo, 36 month, 12k
  • Just checked a local dealership and they are offering a 08 JGC Limited with options of Hemi, uconnect, and Tow package IV for 32670 (internet price) includes 3500 cash and 500 bonus cash.

    For a 36mo/15K lease they are offering a residual of 44% and MF of 0.00083. Is that right? Is there a listing of the residuals and money factors somewhere like other captive banks or does Chrysler only tell the dealerships?

    I will still negotiate the cap cost, but it looks like a bum MF from other MF's I have seen on the forum.

    Thanks!

    Mike
  • My residual was 47% based on a 36 mo. 10.5K miles per year lease. I think the extra milage is hurting your residual value. My MF was .00062.
  • Thanks turbanski.

    He quoted me 46% for a 12K mile per year 36mo lease. So I see your point. I'd like to get down to your MF of .00062. I have great credit, so I don't see why I'm getting a bad MF. Did you negotiate the MF or was it just the time of year etc.?

    Thanks, Mike
This discussion has been closed.