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2013 and earlier Jeep Grand Cherokee Lease Questions

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  • ronaldcronaldc Posts: 50
    Hi Evedder:

    With the total miles you need, it would be wiser to simply to buy the GC. In my area, Chrysler is offering $7500 in rebates on the limited or $2000 in rebates with % financing for 72 months. With the dealer discount included, you should be able to purchase this vehicle for under $35000 with the % financing., which will bring your payments under the lease payments.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi evedder. The best way to evaluate your deal is to find out the selling price that you are being charged for the Grand Cherokee that you want and compare it to the truck's dealer invoice price minus any available incentives.

    You can look up the exact invoice price of the truck that you are interested in over in the New Vehicle Pricing section of Edmunds.com.

    In most regions, Chrysler is providing $4,500 customer cash on the '08 Grand Cherokee right now. So shoot for invoice minus the cash as a cap cost for your lease and see what happens.

    As the previous poster suggested, a better option than leasing through an independent bank would probably be to finance this truck through Chrysler Financial at 0% for 6 years and take advantage of $2,000 bonus cash.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • I was just at the dealer in NJ. Here is the lease deal is was offered.
    2008 JGC Laredo 4X4 with the E package 31,330.00 - affiliates pricing and discounts brings price to 19,995.00.
    39 month lease
    10,000 miles a year
    2200.00 down this includes tax and tags
    payments of 275.00 a month.
    Seem like a good deal?
  • It would be a good deal only if that $2200 down included ONLY tax, title, license fees. If any of that is going towards cap cost I would say no. But even so, I would never put any money down on a lease.

    FYI, if you get this vehicle and it is stolen and never recovered, the insurance company WILL NOT reimburse you for the $2200. Likewise if you are broad sided driving out of the dealer lot and the car is totalled you will not be compensated for your down payment. This is why most people don't put money down on leases.
  • will41will41 Posts: 2
    Went to 2 dealers in Northern NJ.

    Here are the numbers:
    Orig. MSRP: 37,880
    Adjusted msrp:35,000
    Cash/Rebate: 12,250 (lease)
    Inception Fees: (2,408) they subtracted this from the cash rebate) to come with a...
    Excess rebate: 9,841.17 (looks like tax to me)

    Also; Supposedly a dealer cost of $35,379
    Selling Price of 31,741
    Down payment: 9,197.36 (apparently this is calced by subtracting 643.81 from the excess rebate)

    Total Cap cost : 23,331.60

    Residual value - 9,800

    39 month lease @ $426

    Does this make any sense?

    Thanks
  • i'm in central NJ. i've been researching this truck, know prices, residuals, etc. MSRP about $44,000. i can get for 42990 - $7500 in rebates. so $35,490. figure $35,000. i didnt even talk in person yet. just by phone. narrowed down to 2 dealers. other was $40,000 + incentives, so i can get that also for about $35,000, possibly lower. most dealers only offered $4000-5000 on incentives. i am trading in a 07 mazda truck which they will give about $13000 for. i owe about 6,000 more than its worth :( so that $6000 will have to be worked into lease. so with price of $35,000 + the $6,000, i'm lookin at final price of $41,000. i know not smart but i want this beast! the incentives end march 3 so i want to order 1 by end of february. they said about a month to come in. there are NO 09 SRT8s on lots anywhere. here's info:
    price-$41000. $1650 in fees. i'm willing to put another $1500 cash down so like $3150 due at signing. i will not get truck if they need more than this. the residual on 36 month lease with 12000 miles is 36% or $15,840. interest rate about 7-8%. what will payments be? i figured on a few lease calculators which seemed accurate and i get anywhere from $489 to $530 a month. my limit is $500 but i would prob take if i could get for $525. talked to a few idiot dealers and they were talking crazy prices. if we are in a recession, which we currently are, and chrysler is in deep trouble, begging for $4 billion as we speak, they should want to move anything. i'm not getting sucked into paying 600-800/mo just because its an SRT8. what do u guys think? i know chrysler doesn't lease. it would be through another bank. u would think right NOW is perfect time to try to get a deal on this truck....
  • My lease on my 07 Grand Cherokee limited is up in 65 days (May 09). My residual is 22275. I called Chrysler Financial today and they told me they will not reduce the purchase price on any 07 grand cherokee leases. Is this true?
  • 70wash70wash Posts: 9
    Not true at all.

    My 07 GC limited lease is up on May 12th. My residual was the same (22275) and I was immediately offered 2k off w/o any negotiations. And then I was told as it nears expiration, they will offer even more of a discount to get you to buy it.

    Question for Car Man:
    Dealer said they now do leases out of "US Bank" (the fed?), whatever that means. But do you know what the money rate / residual they would offer for an 09 GC limited with:
    27 / 36 months
    10.5k / 12k miles
  • kyfdx%40Edmundskyfdx%40Edmunds Posts: 25,872
    US Bank is an independent commercial bank based in Minneapolis.... Just like Chase or Citi or PNC, etc...

    They've always been big into car leasing...

    Moderator - Prices Paid, Lease Questions, SUVs

  • "My lease on my 07 Grand Cherokee limited is up in 65 days (May 09). My residual is 22275. I called Chrysler Financial today and they told me they will not reduce the purchase price on any 07 grand cherokee leases. Is this true? "

    They were offering discounts on lease end purchases, but they stopped. I spoke with someone there several times, and I was told "well, we stopped offering the discounts but since you already spoke to us about it, we will honor the original discount"

    So, if you logged in to your Chrysler Financial account and actually looked at your lease end options, if the discount was ever there, you could probably get them to honor it. I don't know how they could prove whether or not you actually looked at this page, but if you call and tell them that you thought you saw a discount on the site, and why isn't it there any more, maybe they will go "ask a supervisor" and see if they can re-instate the discount for you.

    In my case, I did not request anything. The girl I was talking to on the phone somehow knew that I already knew, so maybe they either track where you click online, or there were notes on my account from when I had called in previously to ask about the discount?

    Good luck.
  • jdoriajdoria Posts: 7
    $20,000 is still too much for an 07 Limited. Im in a similar situation with my 07 Limted, except my lease is over in November.

    After looking online for used prices, checking Galves and Manheim / Adessa auction reports, I think I can get the car $14,000 - $14,500 in November with no problem.

    The 2011 has been introduced which hopefully crushed the resale the 07, and in August the 2010 is released.

    I also hope the auction lots are FULL of these things further driving the prices down where they belong. I am only paying $353 per month on a $40,000 sticker vehicle for 27 months. ($2,000 down) The rates were dirt cheap and the residuals were sky high when I leased. I just it 11,000 miles and the car is in top shape. Its worth $10,000 to $14,000 to me all day for what I need. Any higher, Ill go get another make of car.
  • 70wash70wash Posts: 9
    Car Man,

    Could you provide the money rate and residual on a 09 GC w/ 24H package for 10k miles?

    Thanks in advance
  • Live in NY Metro Area - currently have a lease that expires in Aug. I was quoted 419 a month for 39 mths w/ 10k miles per year. I would factory order now and get delivery sometime in June. Id lock in this price or get the better one upon delivery. What should i do order now or wait till July and hope that i can get a better deal with the 2010 coming out in Aug.
  • 70wash70wash Posts: 9
    Is this $419 payment with 0 down? Taxes not included?
  • 0 down w/ Tax 1st Month & other Fees upfront
  • ejv207ejv207 Posts: 12
    Does sound like you could do a little better than that. So if you take delivery in June you will have to pay 2 car payments for June through August? I don't think Chrysler Financial will take it back early, unless you buy from them, since they are not offering leases anymore. I say wait. Payments total $16,341 + $1,150~1250 taxes + tag,registration fees, etc.. With the state of the economy, they are most likely going to keep incentives going for a while.

    Whats the residual and MF that the finance company is offering you?
  • ejv207ejv207 Posts: 12
    Hey did you end up getting this truck? I love the SRT, but I'm happy with the Limited with Hemi.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi 70wash. Unfortunately, Chrysler's financial problems has forced it to pull the plug on its lease program. As a result, if you really want to lease a Jeep Grand Cherokee right now you are going to have to do so through an independent bank. Chances are you will be able to find a better deal on a different SUV if you are really set on leasing.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Holy Toledo, donnyjeffcoat, a 29% residual value on a low mileage 39 month lease? Ouch. I personally would never lease any vehicle that had residuals that are that bad. If you really want a Grand Cherokee right now, you would be better off financing it through Chrysler Financial at 0% for 4 years.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
This discussion has been closed.