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2013 and earlier Jeep Grand Cherokee Lease Questions

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  • 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 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??
  • 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
  • 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?
  • 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.
  • 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.

    Car_man
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  • 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.

    Car_man
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  • 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.

    Car_man
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  • 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.

    Car_man
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  • 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.

    Car_man
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  • 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
  • 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.
  • 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.
  • 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
  • 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
  • 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!
  • 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!
  • Still hoping to find out the December lease info please, if you're around this month. Thanks!
  • 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.

    Car_man
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  • 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.

    Car_man
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  • alexv2alexv2 Posts: 3
    Car Man, still would love to get your analysis of my lease situation. thanks in advance.
  • I am inquiring about leasing info for an 05 Grand Cherokee 4WD with leather and a moonroof. Am I correct in assuming that 05's are serving up better deals now that the new year has arrived? Or are 06's comparable? What would I expect to pay in Massachusetts for a montly lease payment for this vehicle and what should I watch out for. I currently have an 00 grand cherokee with 46k, should I trade it or sell it outright, though there seems to be a ton of these on the used market right now.....any help is appreciated...
  • Any word on what the lease deals are now for a left over 05 Jeep Grand Cherokee Limited?

    Thanks in advance.
  • I am strongly considering leasing a 2006 JGC. I have found all the posts to be very imformative, however, I need a claraification:

    To compute the residual value, do you take the % times the MSRP or the final selling price ( before rebates )?

    Thanks for your help!
  • kyfdxkyfdx Posts: 29,370
    Residual percentage is multiplied by the MSRP..

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Thanks for the quick reply, kyfdx.

    I can now go into battle armed to the teeth with all the lease facts and figures to make the dealers squeal!

    Knowledge is Power!!!!!
  • I have been offered a Chrysler Financial lease deal and had some questions. I live near Dayton, Ohio:

    Here are the facts:

    2006 JGC Limited
    MSRP - 36,955.00
    Invoice - 34,277.00 ( WITHIN this invoice price is 460.00 worth of " advertising " from the Cincinnati region according to the salesman )
    3,500.00 in buyer incentives
    700.00 - Acquisition Fee
    27 months
    59 % residual
    15,000 Miles / year
    Money factor - .00126
    Tax - 6.5 %
    Doc / title fee - 42.00
    Turn-in fee - 450.00
    Monthly Payment - 462.72

    Dealer is offering to sell for invoice ( including the so-called " advertising " costs),

    I am OK with all of the numbers, except the following:

    Acquisition fee of 700.00, the " advertising fee " of 460.00 within the invoice price and the 450.00 turn in fee.
    Are these 3 fees " normal" or is the dealer trying to gouge me?

    If there is any more info you need to give me some sound advice, let me know.

    Thanks!
  • Alexv2, are you asking me what I think your lease payment should be like for this truck? Let's say that you were able to lease the 2006 Jeep Laredo 4WD that you are interested in for $500 over invoice. That would mean that its MSRP is $29,135 and its selling price would be $23,745
    (invoice of $26,745 minus $3,500 in incentives + $500). Using these numbers, I estimate that your 36 month, 15,000 miles per year, zero down, pre-tax monthly payment for this truck should be around $315.

    Car_man
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  • Hello newjeepma. Well, you are sort of correct. Yes, you definitely will be able to negotiate a lower selling price on a 2005 Jeep Grand Cherokee than you will be able to on a 2006 model right now. However, this late in the model year it will actually be more expensive to lease an '05 model than it will be to lease an '06 model. I don't believe that DaimlerChrysler is providing any sort of lease support on '05 Grand Cherokees any longer. If you want to lease one, you would have to do so through an independent bank. The bottom line is, the 2005 model will be the better deal if you want to pay cash or finance and the '06 model will probably be the better deal if you want to lease.

    You never mentioned the selling price or MSRP of the 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 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.

    As far as your trade goes, consumers are usually able to get the most money for their used vehicles by selling them on their own. If you don't want to deal with the hassle that is associated with doing so, you can always trade your truck in. Just have the dealer cut you a check for it rather than use the proceeds from your trade as a down payment on your lease.

    Car_man
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  • Hi njdealguy. You definitely will be able to negotiate a lower selling price on a 2005 Jeep Grand Cherokee than you will be able to on a 2006 model right now. However, this late in the model year it will actually be more expensive to lease an '05 model than it will be to lease an '06 model. I don't believe that DaimlerChrysler is providing any sort of lease support on '05 Grand Cherokees any longer. If you want to lease one, you would have to do so through an independent bank. The bottom line is, the 2005 model will be the better deal if you want to pay cash or finance and the '06 model will probably be the better deal if you want to lease.

    Car_man
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