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2013 and earlier Jeep Grand Cherokee Lease Questions

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Comments

  • ucla56ucla56 Posts: 5
    I'm confused about lease rate. What money factor does a lease rate of 0.4 equate to?
  • jeepgc12jeepgc12 Posts: 3
    I believe a 0.4% interest rate equates to .000167 MF, and a 0.55% interest rate (mine) equates to a .000229 MF.

    Apparently Allied no longer uses MF and instead uses interest rates because MF just confuses everyone!
  • jmza2jmza2 Posts: 2
    This is my first time leasing and I want to make sure I am getting a good deal on the car. Here are the particulars:

    2012 Jeep GC Overland
    MSRP: $47,585
    Negotiated Price: $41,985
    Terms: 36 Month w/ 15k miles @ .55 interest through Ally (I don't think they do money factor)
    The sales reps also told me he factored in the $1,500 lease incentive.
    Monthly cost $559 + $36 in tax = $595 total

    I'm negotiating on the phone right now as I don't believe in going to the dealer unless the price is firm.
  • jmza2jmza2 Posts: 2
    also tossing $2,000 at it as a down payment.
  • jordanhojojordanhojo Posts: 2
    In Chicago, on top of the 10.25% tax (which is charged on the ENTIRE price of the car, not just the portion for the lease), there is an 8% "use" tax that is charged on each lease payment. Very expensive to lease in Chicago.
  • chiguy5chiguy5 Posts: 1
    Just leased an Overland for 610/mo 12K/year, 0 down, all in including tax. I am in Chicago Northern burbs.
  • jordanhojojordanhojo Posts: 2
    Chiguy - The city of Chicago charges an extra 8% - not applicable in Burbs. Where did you get your lease from? I'm looking to lease shortly and my leases for $0 down were coming out to be $650 for a Laredo X with 20s.
  • slu2012slu2012 Posts: 1
    Hello I am new to this forum, On April 26 I leased a 2012 Jeep GC basic model for $363 a month. All I had to put down was first month. It has been a month and Ally has no record of the lease being finalized, so I can not make a payment. I called Jeep yesterday and they said Ally needs proof a residency. Hear is the problem, I leased the jeep in a state I will be moving to in one month, so at this time I do not have proof of residency to give Ally. Jeep knew this when we made the deal, but now they are saying Alley needs proof a residency which I can not give. Does anyone have any idea what can be done or what might happen? Thanks for your help.
  • ucla56ucla56 Posts: 5
    What is MF and residual for Grand Cherokee Laredo X 2wd for 12000 miles and 36months?
    Any way to lease through someone other than ally?
  • rackermanrackerman Posts: 8
    I'm new here so i apologize in adavance for any stupid quesitons. I am looking to lease a new 12' JGC Overlander - 3 yrs 39 months and i want see if anyone knows the current interest rate (or MF) and the residual value on the car. If you do respond can you confirm which bank provided you with those figures.

    Thank you.
  • kcjr81kcjr81 Posts: 3
    Hi. What is the current residual and money factor for a Grand Cherokee Limited V8 on a 36 month 12k miles a year lease?
  • kkcar2kkcar2 Posts: 1
    Car man

    I was quoted for JGC Laredo with X and E package a 38625 msrp with selling cost 36285. They quoted a money factor of .0012 that I think equates to 2.88%. They didn't mention the bank but seems fairly high. Residual was 55% for 12k and 39month lease. Any thoughts on what money factor is this month?
  • stevernstevern Posts: 40
    Hi Car_Man,

    Can you please list the MF & Residual for a 2012 JGC 4x4 Laredo E Package for 12k/36 months? You have been so helpful for all my leases in the past and I appreciate any info you can give.

    Thanks!
    Steve
  • stevernstevern Posts: 40
    Hi Car_Man,

    Can you please post the residual and MF for a 2012 JGC Laredo 4x4 for 3yrs/36k? Many thanks,

    Steve
  • cnote2cnote2 Posts: 63
    MF and residual for a Altitude 4x2 for 36m 12k miles in the northeast. any cash incentives as well?

    thanks in advance.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello stevern. Ally's current base lease rate and residual value for a 36-month lease of a 2012 Jeep Grand Cherokee Laredo 4WD with 12,000 miles per year are 0.02% and 51%, respectively.

    When negotiating your deal on this truck, make sure to take advantage of the $1,500 cash incentive that is currently available on leases of it.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi cnote2. I haven't seen any numbers for the Grand Cherokee Attitude. Is this new trim level considered to be a variant of the Limited or Overland models? If not, then Chrysler has not published a lease program for it yet.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • danimal77danimal77 Posts: 17
    32,330 MSRP base 4x4 Grand Cherokee Laredo

    Can someone tell me what's the absolute best lease deal on this vehicle with 12k/36 or 39 mo lease? I've been offered $360 per month payment (includes tax of 6.75) and that is with 2,000 cash due at signing.

    I don't know what the actual sale price is but it's probably around 30,000. Dealer said there is 1,500 insentive and then they can deduct additional $500 but not more.

    Thoughts? Thank you so much!
  • cnote2cnote2 Posts: 63
    Hello Car man, i think its it own trim level but i am not sure how jeep is handling it with regards to leases. it runs around 38k-40k, i think the limited trim runs similary. maybe give me the numbers on that trim and that will give me the general idea of the cost.
  • danimal77danimal77 Posts: 17
    Jeep dealer in Ohio showed us lease specials on Grand Cherokee Laredo and X with leather and sunroof plus other equipment. All prices were under $400 including taxes with $2000 total due at signing that includes 1st payment. "base" 4x4 was like $339mo plus tax on 39mo with 12k. I think X (or whatever model has leather and sunroof) was $369 plus tax same terms as above.

    Can someone share their REAL LIFE experience with 2012 Grand Cherokee, particularly gas mileage. What is the average you get in the city and freeway? I know what EPA estimates are but what's your real life experience? Thanks for sharing.
  • ledeenledeen Posts: 1
    I owned a 2001 Jeep Grand Cherokee Limited for about 6 years, and it was my best car...... loved it . It was so solid and stayed that way through to when I sold it at 125K Miles.

    The gas mileage wasn't great. About 17 -20 average. Also service prices were very very high. However that wasn't until I hot about 70K miles..

    After trying a supposedly less expensive car (VW Passat) turns out it cost me just as much as a new Laredo would cost me on a lease, and there is a world of difference. I loved my Jeep! Great great automobile.
  • amznamzn Posts: 6
    edited July 2012
    hi Car_man,

    I leased a 2012 Grand Cherokee Laredo Altitude 4x4 5.7L from Lithia about 10 days ago. The price is great: MSRP ~$42K. The price before TTL is ~$36K which is used to calculate the down payment and monthly payments.

    However, there's a serious problem that I identified after I drove it a couple days. The RPM would go up to 4k+ while the car was not gaining much speed (40-50 miles per hour), each time after I drove the car for 30-60 minutes. The only thing I did was turning on the air conditioning, before or while I was accelerating on the ramp to get onto the highway - then there's noticeable increase with the RPM to 4K+ while other parameters remained about the same. Typically the RPM stays in 1K to 2K range. The typically toggling "ECO" indicator disappeared. It seemed that the 8 cylinder mode is running. There must be something wrong with the transmission, or some sensors.

    I have a couple of questions:
    1) the lease is with the Ally bank. Should Ally, Chrysler, or the Lithia dealer be taking care of the problem?
    2) This is a brand new Jeep. When I leased it, the mileage is less than 50. Is this considered a lemon car such that the lease should be invalidated?
    3) I called the dealer. they were hesitating that I use the 24-hour assistance/towing service. they said they will have the service department to pick up the Jeep tomorrow. Do you think I should actually insist on using the Jeep 24-towing service, and/or tow the car to a different dealer (5 miles away) so that they can independently check the Jeep?

    thanks for your help.
  • mikeyp53mikeyp53 Posts: 55
    Real life experience with GC Laredo 4X4 with 4.7 liter engine is 14 city and 21 highway on a good day. I love the car and it tows nicely but its thirsty versus other cars but it will tow 6500 lbs. Try that with your Honda Accord!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi amzn. Both Chrysler and Ally are going to tell you to take your vehicle back to the dealership to get it checked out. If there is a transmission problem, perhaps it is a known issue that the dealer can fix relatively easily. Let's hope. If you are uncomfortable driving it to the dealer, you probably can have them tow it in.

    You won't be able to have your truck declared a lemon until this probably persists for quite some time with several unsuccessful attempts by the dealer to repair it.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi Car_Man,

    Can you please post residuals and money factors for a 2012 Jeep Cherokee Altitude 4X2 and 4X4 for 39 months 15k/yr. Is there a residual change for a V8 or V6 as well. The availability of these cars are light so I have to be pretty open.

    Also do you know of the lease incentives or rebates.

    Thanks for all your help Car_Man you are a life saver!
  • amznamzn Posts: 6
    edited August 2012
    Thanks very much Car_man for your note. I had the dealer looked at the car, and they couldn't replicate the problem. I picked up the car this afternoon and drove it for 3 hours and didn't see the issue that I had several days ago. I'll just assume that the problem is gone. Plus I can always manually shift up the gear levels if the problem happens again. Before the Jeep, I had a two-year lease of a Ford Fusion, which at one time locked itself and couldn't move on the highway. I took it to the dealer but they never figured out what happened. The problem never happened again. I'll just assume that this Jeep issue is a one-off thing. Other than that, I like the Jeep very much and have been enjoying driving it.
  • mook12mook12 Posts: 60
    Hi guys, I need some feedback on whether it is a good price to buy at the end of the lease. I leased a 11 grand Cherokee limited with just about everything. Msrp was $44500 $1700 out of pocket includes all costs, tax, ect and my monthly is $509 36 months 12000miles yearly, so the buyout is $19700 after the lease the negotiated price was around $34000 minus the lease payments equaling the buyout price. Would anybody buy it for that price of $19700. Thanks
  • kafrankkafrank Posts: 1
    Hi danimal77, I am shopping for a GC Laredo with the E package in Ohio and I think that dealer's lease prices are very good . Could you please let me know which dealer you were working with? Many thanks!
  • karrphkarrph Posts: 2
    i've never leased a car before so I'm looking for some guidance here. i came across several lease agencies offering a 2012 jeep laredo for about 350 for 36 mo including all fees/taxes and nothing down. i'm responsible for my 1st months payment. does this sound like a good deal? has anyone had any experience with lease agencies before? how are they able to offer a better deal than the dealers?
  • rscogsrscogs Posts: 4
    Just an FYI. I wasn't as knowledgable as I am now but I noticed that Ally is sort of hiding an expense and I'd like everyone to know. This happened to me with the 2011 JGC. To sum it up with whole numbers to make it understandable. My JGCLX was 36000. The residual ( How much worth afar 39 months ) is 19000. Between the adjusted cost and taxes and interest you can figure out the payment. The issue here is that they lower the residual to around 54%. You pay 17 out of 36k and they claim the vehicle is only worth 19k after 39 months which is low so you do more principle paying than you should. Then after that, on the bottom of the agreement is that at the end of the lease, the purchase price is 21,500k. That's not the price of the residual. If you buy it you will pay 2500 more than what it's worth and what you should owe. Who will do that? So YOU pay 2500 extra than what is probably the REAL residual. The bank sells it to the dealership for more than 1900. They make money, then the dealership sells it. Total scam. If you want my JGCLX for the next 27 months. 409 per mnth. Take it from me not them. NYC. I wonder if the dealership pays taxes on the purchase from the bank? I bet not!
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