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2013 and earlier Jeep Grand Cherokee Lease Questions

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  • mwagmwag Posts: 6
    It is a Grand Cherokee V8, Tow Groups IV and 28W package. MSRP $34,340. Cap cost $26454. The car was less than invoice and had $3,500 of additional incentives. Money factor in December was almost 0. 36mos 10.5k. residual $16,483
  • turbanskiturbanski Posts: 85
    Very interesting. I also leased a 2008 JGC 4.7 V8 in December. Here are the specifics.

    MSRP: $34,195 (28E package)
    Dealer Selling Price: $32,675.81
    Residual Value: $16,071.65 (47%)
    Annual Miles: 10,500
    Money Factor: .00062
    Total Rebates: $5,000
    Cash Down: $3,000
    Adj. Cap Cost after all fees, sales tax, title, first payment, etc.: $27,435.
    Monthly PMT: $340 (36 months)

    My adj. cap cost includes NYS & local sales tax @ 8.75% or over $2,800. The sales tax alone amounts to almost $80/month. Ouch!, I felt better before I figured that out.
  • ksmith76ksmith76 Posts: 4
    hytek -

    be careful on the $4K incentive... in some regions, it's only $3500 if you lease... (check out the website).

    - K
  • Does anyone know what the MFs and residuals are for 24 and 36 month leases with 15K miles? Also, can anyone confirm if the $3,500 customer cash and $400 marketing support can be combined?

    Thanks
  • naft2717naft2717 Posts: 3
    Can someone let me know what lease numbers I should be expecting for a 2008 JGC Lardedo 4x4 w/ the 26x package and uconnect in NJ? Please price with nothing out of pocket. Thanks much.
  • gonzoegonzoe Posts: 5
    I still have 1 year left on my 2006 Overland lease but I'm wondering if anyone knows if Jep will rengotiate my buy out? My current Buy Out price on the contract is for $28,000 on my 36 month lease. Edmunds my book Value is currently at $18,000. In 1 Year, I estimate it will be closer to $15k. I have to believe that Jeep would rather negotiate with than sit with my car in inventory. Any thoughts or experiences is appreciated.
  • f1freakf1freak Posts: 4
    Car Man,
    I am in the process of negotiating for a 2008 GC Overland for 10K, 36 month lease. Do you have the money factor and residual for April?

    Thank you
  • My lease is up on my wrangler the end of this month and i'm looking to get a GC laredo 4x4 E package. also looking at 10k miles for 36months. between all the cash jeep is giving me, it's going to be 5k off. if msrp is 31,220, can you help me figure out what kind of payments i should be seeing. i'm not sure what the money factor is or the residual. thank you in advance. i'm in NJ.
  • turbanskiturbanski Posts: 85
    Without knowing the money factor, residual amount, dealer discount, down payment amount, etc. no one can really give you a number. For a ballpark number go to the Jeep webbsite or a dealer website, find a vehicle similar to what you want to lease and then use the payment calculator to obtain an approximate monthly payment for your zip code. Please note that the lease payment calculator assumes a 10% down payment an reflects the applicable incentives and discounts from Jeep. Any dealer discounts are not included and are negotiated separately by you. My guess is that you could receive an additional 5% off MSRP just for walking in the door. You might get more if you are good at haggling. Most dealerships have sales targets (quotas) for each month and it affects their flexibility. Good Luck.
  • Hi, I got some more info, thank you for the help.
    MSRP - 32250
    cap - 25945
    residual - 14835
    money factor - .00030
    NJ tax - 7%

    i only want to pay the first month out of pocket.
  • turbanskiturbanski Posts: 85
    I have a similar lease (36 mo. 10.5K mi. per year) and a ACC of $27,400. Lease payments are $340 per month. With the information you already have, you probably have a firm quote by now. Your ACC and MF are lower than mine.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi nolealum05. Here's the information that you're looking for. Chrysler Financial's current buy rate lease money factor and residual value for a 24 month lease of a 2008 Jeep Grand Cherokee Laredo 4WD with 15,000 miles per year are .00011 and 48%, respectively. The numbers for an otherwise identical 36 month lease are .00030 and 43%. Chrysler is currently providing a $3,500 cash incentive on leases of this truck in most areas (a little more than this in select regions). Make sure to take advantage of this cash when negotiating the capitalized cost for your lease.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi naft2717. This truck's lease payment will depend upon a number of variables, including its MSRP, selling price, how long you want to lease it for, what mileage allowance you need. I will have to make a number of assumptions to estimate a payment for you. For now I will assume that you are interested in a 36 month lease of a 2008 Jeep Grand Cherokee Laredo 4WD that has an MSRP of $35,415 and a selling price of $29,418 ($500 over invoice - $3,500 lease cash + $500) with 15,000 miles per year. Let me know if you want something different. According to my calculations, the zero down, pre-tax monthly payment for this lease would be around $408.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi gonzoe. while some banks will occasionally negotiate the end-of-term purchase prices of leased vehicles, it seems that they are becoming increasingly less interested in lowering vehicles prices. the main reason behind this trend is that many banks insure their leased vehicles to protect them from residual value exposure. With the insurance in place, they do not have any need to lower vehicles' prices. I don't know what Chrysler Financial's specific policy is on this matter. If you are considering purchasing your Jeep at lease-end definitely give them a call. You don't have anything to lose by trying to negotiate. If you wouldn't mind, I would love it if you report back on what they tell you when you call.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello f1freak. 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 Overland 4WD with 10,000 miles per year are .00024 and 43%, respectively. When negotiating your lease on this truck, make sure to take the $3,500 lease cash that is currently available on it into account.

    Car_man
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  • sspanosspano Posts: 1
    Hi Carman,

    I am negotiating a lease on a JGC Limited with a MSRP of $40,280.

    The deal is as follows:

    $0 down
    Taxes rolled in
    12k per year
    they are paying my last 2 payments on my current vehicle which equals $980.

    Lease Payment is $469 per month

    Does this seem to good to be true? I am also allowing them to take my current GMC lease and turn it in. Is there anything I need to watch out for?

    Thanks.
  • Can someone please tell me the DCX employee discount?

    Some people have told me it's a dollar amount under invoice.. some people said it's 3% under invoice... some 6% under invoice...

    Is the reason I've heard differeng stories is because it changes with time? Changes depending on make//model?

    The last person I believed said it was 6% below invoice across the board for any chrysler product....

    What is right?

    Thanks!
  • gonzoegonzoe Posts: 5
    Thanks I have several months left on my lease and I will certainly report back when I have more details. Its interesting because I checked Chrysler Financial's Owners page and requested a buy out price. They came back with $100 under the buyout on the lease contract which is $28k. The book on my 06 Overland is closer to $19k right now with 10 mos. left. We shall what happens. I'll check back.
  • jf7227jf7227 Posts: 13
    Just leased a 2008 Jeep Grand Cherokee 4X4 Limited:

    4.7L
    HID Headlamps
    My Gig Navi.
    18" Chrome Wheels
    M.S.R.P. $41, 680.00

    36months/15,000 miles a year
    $499.00 a month/ $0 down, Sign and Drive (includes NJ 7% sales tax and various fees)

    Thought I made a pretty good deal. Hope this helps.
    BTW, had a '06 limited, the '08 has a much better interior and the HID lights are a must have! Beautiful car for the money!
  • jeepman7jeepman7 Posts: 1
    Do anyone know the new lease numbers (Residual rate, MF, incentives) for May?

    I was shopping today and was offered '08 Overland 4WD with VES for $569 month, 0 down and pull ahead of 2 payments ($1100 total). Would like to know if this is good deal.
  • lfranco1lfranco1 Posts: 3
    jf7227,

    You got an amazing deal I think. I am trying to get a base model Overland with no additional options and I cant get any dealers out of the mid 500s on a sign and drive lease. From what I have been told, the money factor right now is .00127 and the residual on 10,500 is 45% 12,000 44%. Does anyone have any information to confirm these numbers? How much should I be paying on a sign and drive lease on a base model overland that has MSRP of $39,835 and an invoice price of $36,358? Any help would be greatly appreciated.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi sspano. You never mentioned the selling price of the Grand Cherokee that you are interested in leasing. This is an important number 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 the price of the truck that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of the vehicle that they want to lease is that it is necessary to calculate its lease payment. I am sure that either myself or another community member will be more than happy to give you our opinion of this deal if you let us know what its selling price is.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Congratulations on getting your new Grand Cherokee, jf7227. Thanks for taking the time to stop in and share the details of your lease with everyone. Real world examples like this are always helpful to other community members who are in the market for similar vehicles. Make sure to stop by the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience with others as well. Enjoy your new ride.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi jeepman7. Here's the information that you're looking for. Chrysler's lease program for this truck varies by term and mileage allowance. You never mentioned what either of these variables are, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Chrysler Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Jeep Grand Cherokee Overland 4WD with 15,000 miles per year are .00087 and 42%, respectively. In certain regions, this truck's money factor is lower than this.

    Car_man
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  • merekmerek Posts: 1
    I would like to get out of my loaded 2008 Jeep Grand Cherokee. I have 34 months remaining on the lease. I'm open to suggestions on a good exit strategy.
    thanks,
    Meredith
  • avmbaavmba Posts: 24
    Hi Meredith,

    Unfortunately, the only way to get out without taking a credit hit (by not paying and having it reposessed) is to find someone to take over the lease.

    Your best bet is to post it on a web site like swapalease and offer an incentive (cover transfer fee, offer some cash down to reduce the monthly payment, etc.)

    Note that in many states you will still be liable for the condition of the car at return - be sure to review your lease terms and ensure you can pass it off to someone else without maintaining liability.
  • jcf4jcf4 Posts: 9
    Jeep Ch Laredo w/15k per year for 27 months
    MSRP $38,850
    dealer discount down to $35,100
    less $4000 in rebates $31,100
    less$1000 cash down =

    $475 Good Deal???
    incl NYS 8.25%
  • 03qx03qx Posts: 19
    Car Man, could you please post the Rates/Residuals for a 2008 Grand Cherokee 4WD Diesel Overland & Limited Model. 24 & 36 Mos with 15,000 Miles.
  • liebeliebe Posts: 1
    My 36 month lease is up in Sept 08, will have 50,000 miles; a little over the 15k/year estimate. How do I negotiate a better buy-out than the 16,500 in my 2005 lease? Given price of fuel and SUVs not hot/not selling as previous, I called Chrysler Financial and the told we "We don't negotiate" ... take it or leave it! They will simply sell it at auction. I think a win-win price would be $2,000 less!? Any ideas/ help out there?

    Many thanx.
  • turbanskiturbanski Posts: 85
    You are correct, they will not negotiate the end of lease residual because your lease payments for the past three years have been based in part, on that value. It would appear that you have two choices, 1.turn in the vehicle and pay for excess milage (not recommended) or 2. lease a new 2008 JGC. Chrysler is currently offering huge incentives, $5,250 for returning lessees in my zip code, on top of generous dealer discounts. You might even ask about a lease pull-ahead program at this time and lower your lease payment at the same time. Good luck. Let me know how it works out.
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