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2013 and earlier Jeep Grand Cherokee Lease Questions



  • mf15mf15 Posts: 158
    If you look back when this forum starting back in 05 the residuals were about 55% now they are 43-44%. This I guess is why the lease payments are now so high. The residuals back then were probably inflated now they more reflect what the truck is worth in 3 years. Old Mike
  • delson1delson1 Posts: 2
    Does anyone have the residual values and money factors on 2 or 3 year leases of GC Limited 4X4's with 10,000 miles/year?
  • avmbaavmba Posts: 23
    I don't have the exact #s, but the JGC Overland 2WD I leased in February had the following terms for a 27 mo lease 10500 miles/yr:

    money factor of 0.00097
    residual of 52%

    JGC Limited 2WD at that time for 36 months and 15,000 miles/yr was:

    money factor .00194
    residual of 45%

    These have probably changed a bit since then but you can use them with a lease calc to get a ballpark figure going...
  • Hi: Wondering why payments are so much higher this time around with most factors being the same? Currently Im in an 04 Grand Lease. 39/12K year. Its up in Sept 07, so Im shopping around. Incentives are good, pull ahead program, etc. Im being quoted higher monthly payments to the tune of $100/month more than where Im at now. The only thing that is different this time around is that I am requesting different mileage. I am requesting 19K a year. I am aware that this request would make the payments a bit higher, but $100 more a month? This is what I am asking the dealers.

    MSRP 30425(Basic Grand 07)(Which is about what I picked up the 04 for)
    Incentives give:4500
    Asking to go $100 over Invoice
    Requesting 19K/39
    $500 down
    Quotes are in the $400-$430 range!
    Is the increase in price here strictly b/c of the mileage request or does this monthly payment amount sound right for this package? My incentive back in in 04 were $5500 and not $4500, but I have heard that a $1000 (in terms of Rebates, money down etc) will only move a payment $20 or so? Considering I have read the board and have seen others who are paying this price getting a lot more vehicle I am really curious about these quotes. These are dealers in Rutland, VT, Middlebury VT and Burlington, VT. Looking to lease again soon so any advice will surely help!
  • Any one know the invoice price on Grand Cherokee laredo, 26x and the NAV system.

    Any help would be appreciated.

  • mf15mf15 Posts: 158
    I think the residuals are a lot lower now than they were in 04,and or lease support is less. My 04 lease is 281 month for a basic 4x4 GC. Old Mike
  • crepituscrepitus Posts: 5
    we went to the dealer the other day looking into a lease since my wifes will be up in a month. they quoted 100 more a month. for a jeep? i dont think so. plus i didnt know they are all wheel drive now. i dont think it drove as nice as her 04. i think we will be going hoonda pilot. its actually cheaper with the same equipment. and its a honda.
  • sondra3sondra3 Posts: 33
    I have an unfortunate situation. I leased my '04 JGC Columbia Edition and ended up going way over mileage because of a job situation. The mileage penalty will be around $4500 (I'm at 70K miles). I could purchase the car for $15,500 but that is more than what it's worth with 70,000 miles. If I were to purchase it, I'm sure I couldn't recover the same amount if I then went to sell it privately...

    So I'm trying to figure out what to do: lease or buy a new one. Frankly I'd like a car with better mileage but I'm screwed on the $$$ numbers no matter what I do so I figure I'll just get another JGC.

    The dealer in Norwalk, CT offered me an '07 JGC Laredo "X" edition, MSRP of $34,730, with $1000 lease loyalty reduction, $3500 regular lease cash, and $500 bonus cash, for $455/month with $1200 down and 18K miles per year (totaling 58,000 for 3 years). Buyout is $12,750.

    I *do* have the ability to buy instead of leasing again. As for my mileage usage for the next few years, hard to predict - it could go up or down :( If I buy the '07, I'm not sure what kind of payments I should expect or be going for. In any case, I'm not really sure if I should buy or lease. Whether I lease a new car or buy a new one I have the mileage penalty. If I buy mine, I'm stuck paying $15,500 for an '04 Jeep with 70,000 miles! (I do love the car). I'm so confused.

    Any help on any of this is really appreciated!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    You're right, Old Mike. The Grand Cherokee's residual values are not nearly as attractive today as they were several years ago. On a related note, I just read that DCX finally sold off the Chrysler Group. I personally wouldn't want to buy a domestic automaker, but a number of the aspects of the deal that Cerberus got look surprisingly attractive to me.

    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Here you go, delson1. Chrysler Financial's current buy rate lease money factor and residual value for a 24 month lease of a 2007 Jeep Grand Cherokee Limited 4WD with 10,500 miles per year are .00097 and 56%, respectively. The numbers for an otherwise identical 36 month lease are .00172 and 49%. When negotiating your lease on this truck, make sure to take the $3,500 lease cash and $1,000 bonus cash that DaimlerChrysler is currently providing on it into account.

    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi reddog522. You can look up the exact dealer invoice price of the truck that you want by visiting the following section of this site: - New Vehicle Pricing.

    Prices Paid Forum
  • pbs0626pbs0626 Posts: 18
    Hi Car_man,

    Could you please provide the money factor and residual for 07 Jeep Grand Cherokee and current rebates with the following:

    Package 26x
    MSRP $32,725
    36 or 39 months
    12K miles
    Dealer said they would sell at invoice which is $30,423 less any rebates.

    I live in NC, if that makes a difference.

  • pbs0626pbs0626 Posts: 18

    Sorry, this is for a 2WD.

    Jen from NC
  • joabjoab Posts: 2
    Hi Car_man,

    Can you please let me know whether the lease number that I get from my dealer is reasonable? I am interested in leasing with 15,000 mileages per year and I am told that the best deal is 39-month lease, with residual of 45% and money cost of 0.00183.

    The car I am interested in is a Grand Cherokee Limited 4WD with 25H Package (Hemi engine), Navigation / Rear back up Camera

    MSRP 42,195
    Affiliate rewards price: 38,667 (1% below invoice)
    Cap Cost: 34,167 (include 4,500 cash rebate)

    I am quoted 423.88 monthly lease payments with 5,500 due at signing, which include all the fees and 1st month payment.

    I am in CT with 6% sales tax, unless I miss some fees, my cap cost reduction should be around 3,628 with the following calculation:

    Amount due at signing: 5,500
    1st month lease payment: 423.88 * 1.06 = 449.31
    Affiliate rewards administration fee: 75
    Conveyance Fee: 247
    Registration Fee: 183
    Bank Fee: 700
    Amount due minus all the fees above is 3,845.69 after tax and that correspond to 3,628 pre tax.

    My monthly lease should be:
    Depreciation fee: (cap cost 34,167 – cap cost reduction 3,628 – (msrp 42,195 * 45%)) / term 39 = 296
    Monthly Finance Fee: (cap cost 34,167 – cap cost reduction 3,628 + (msrp 42,195 * 45%)) * money cost 0.00183 = 91
    Monthly Lease payment = 296 + 91 = 387 + 23 (6% tax) = 410

    Can you please tell me whether I am completely off?

    Thanks a lot for your help
  • Is this a good deal?
    MSRP $32,405
    27 Mos 12000 MI/YR
    $315 a Mo w/2000 out of pocket including all fees and taxes and rebates.

    Should I go for more?
    I also have supplier pricing which according to the sales man is figured in.

  • mss1mss1 Posts: 3
    Hi car man.

    I was wondering if you could give me the residuals and money factors on a 2007 Grand Cherokee Overland 4x4 for a 24, 30 and 36 month lease all with 15k miles per year. Also, could you give me the same info on a 2007 Grand Cherokee SRT8?

    Any insight as to whether Chrysler will continue incentives past July 2? Thanks in advance.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi Jen. Chrysler Financial's lease program for the Jeep Grand Cherokee varies by trim level. You never mentioned which exact model you are interested in, so for now I will assume that you want an '07 Grand Cherokee Laredo 4WD. Let me know if you want something different. Its current buy rate lease money factor and residual value for a 36 month lease of an '07 Grand Cherokee Laredo 4WD with 12,000 miles per year are .00102 and 43%, respectively. DaimlerChrysler is currently providing $3,500 lease cash plus an additional $500 bonus cash, $4,000 total on leases of this model. Make sure to use this cash to help you negotiate an attractive capitalized cost for your lease.

    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Greetings joab. The money factor that you were quoted for this truck is right in line with Chrysler Financial's buy rate for it. This is a good thing. Furthermore, a selling price of 1% below dealer invoice is very attractive. I see that you are considering making a $3,600 capitalized cost reduction on your truck. I personally always advise consumers against making large cap cost reductions on leases. Those how make them risk losing all or part of the money that they put down if their vehicle is totaled in an accident or stolen and never recovered. You would be better off going with no cap cost reduction and having a slightly higher monthly payment. In case you are interested, I estimate that this truck's zero down, pre-tax monthly payment is around $519.

    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi rmalloy1976. The fact that you qualify for DaimlerChrysler's supplier purchase program almost assures that you of getting a good deal on this lease. The $315 per month looks like a very attractive monthly payment for this truck to me.

    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi mss1. I believe that DaimlerChrysler's lease program varies by region. For now I will give you what I believe it its most widely available program. If you let me know what state you are in I can confirm that it is available in your area. Chrysler Financial's current buy rate lease money factor and residual value for a 24 month lease of a 2007 Jeep Grand Cherokee Overland 4WD with 15,000 miles per year are .00167 and 49%, respectively. The numbers for an otherwise identical 30 month lease are .00238 and 45%. Its 36 month numbers are .00238 and 42%.

    Chrysler Financial's current buy rate lease money factor and residual value for a 24 month lease of a 2007 Jeep Grand Cherokee SRT-8 4WD with 15,000 miles per year are .00294 and 53%, respectively. The numbers for an otherwise identical 30 month lease are .00319 and 49%. Its 36 month numbers are .00319 and 46%.

    I highly doubt that DaimlerChrysler will extend its July lease program past 7/2. If it does extend it, it will probably only be for a few days. I suspect that Chrysler Financial will publish new lower residual values for most vehicles that it leases for the third quarter. DaimlerChrysler will then have to decide if it wants to increase its lease support to maintain the lease payments that it is currently featuring on its vehicles.

    Prices Paid Forum
This discussion has been closed.