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2013 and earlier Jeep Grand Cherokee Lease Questions

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  • Hey everyone!

    I had a quick question that maybe someone can help with.

    My wife and I are returning a 2006 Liberty lease for a 2008 Overland lease. It's being built right now... but I was trying to find out what the "New Day" special is on the Overland model... the Jeep website shows MyGIG for the Limited, but according to all the books, it's supposed to be standard on the Overland. When I (mistakenly) e-mailed Chrysler from the link, I was told to ask the dealer (lots of help there, huh?) and the dealer said it's too new for them.

    Anyone have any ideas?

    Thanks,
    Kurt
  • According to Jeep web the offer is good for both the Limited and Overland models.
  • Thanks. I noted that on the Jeep.com website. My only question is - what actually is the Overland offer? If the MyGig Infonav is already standard on the Overland (it has been since the start of MY2008), what is the offer?

    I think it is a credit of $900 (the value of the offer in the Limited) but no one can tell me. That's why I was asking. Jeep was of no help.

    - K
  • ronaldcronaldc Posts: 50
    It does not appear that a credit is being offered as part of the My GiG offer for the Overland. If you go to the build site, the $900 appears in the options list and then is credited along with the other discounts for the Limited. For the Overland it shows as standard equipment with no credit of any kind. The question still remains what, if anything, is being offered for the Overland as part of the New Day program. I called my local dealer where I leased my last three Jeeps and he did not have a answer.
  • ksmith76ksmith76 Posts: 4
    ronaldc:

    thanks for making me feel a little less crazy. My car is to be ready on 3/6/08, so I'll see what "NewDay" has in store then. The internet rep from the dealer says it was ordered with the "New Day Package" but I don't think they know what that means, either. I was quoted a "special" MSRP that happened to be $900 less than the usual... coupled with supplier discount, military, returning lessee, and the cash back (which looks to have been upped for March) it seems that I should be getting over $10500 off MSRP!

    I wonder what the residual is... and does anyone know if it's based on MSRP or what you pay after discounts?

    Thanks,
    Kurt

    - K
  • turbanskiturbanski Posts: 85
    It's based on MSRP and the lease term in months and built into the computer program the dealer uses to calculate your lease payments. See Post #383 for an example.
  • Since the MyGig was standard on the Overland model, they reduced the msrp by $900.

    I have a JGC Overland on order as well. It's scheduled to ship from the factory on 3/7. This will be my first Jeep and will replace a 2001 Infiniti QX4 with 180,000 miles on it and which I have owned since new, It was an excellent vehicle and I would buy another but they discontinued the QX4 model and I don't like the styling of the FX45. Hope the Jeep turns out to be as good and last as long.
  • Looking to lease another Jeep Grand Cherokee Laredo 4x4 as my lease runs out in a few weeks. Want the base 4x4 with Customer Preferred Package 26X, Trailer Tow Hitch (Class III or IV), and Sirius Satellite radio. 10,500 miles per year 36 month lease, dealer quoted $369 with $1895 down. Said another ~$50/month to have $0 down. Currently see a $4000 cash allowance, $1000 returning lease, and $500 region cash. Is that rate good or can the dealer do better?
  • mwagmwag Posts: 6
    for the exact same jeep wth the same mileage and term we are paying $315.43 a month. 0 down. lease started in late December. we did not have the leasel loyalty.
  • Wow that is quite the difference. Your MSRP was ~$35,000? Do you know your money factor (interest) and residual? The dealer said $428 per month for us. I know there is probably some room for negotiation but not over $100 per month!
  • 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.
This discussion has been closed.