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2013 and earlier Jeep Grand Cherokee Lease Questions

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Comments

  • pm22pm22 Posts: 2
    I have never leased a car before, only bought, so this was going to be a new experience. I did some research on this site and thought that I had an idea of what to expect and was really frustrated with the dealer. I couldn't resolve the number they were giving with what I read hear so I walked out and now think that I need to regroup. Also, they wouldn't print anything out for me so I had to actually take a picture with my phone of the numbers. Anyway, the lease proposal is below and I assume this is awful but I would really like some feedback.

    Grand Cherokee Laredo X / 4x4 / Nav / Dual pane sunroof
    MSRP: $39,305
    Negotiated price: $34,885

    36 months - 12,000 miles/year
    Residual: 52%
    Rate: 1.4% (he wouldn't let me see the "money factor")
    Down payment: $2,800
    Monthly: $529

    I am in Chicago so there is an additional 7% use tax, and in Illinois I think you pay taxes on the whole purchase price at 10.25%. I still couldn't get the number to make sense.

    Any feedback would be really helpful and if someone could post the Ally April rates for the above that would be wonderful. Thanks.
  • miquelny1miquelny1 Posts: 3
    edited April 2012
    The monthly payment is too high. I got a quote for similar car in Paramus, NJ: 2K out of pocket and $460 per month. Despite some extra taxes in your state, the numbers you got do not make sense... You have to really watch out, this dealer was trying to make some serious profits...:) Same thing happened to me at Warnock/Nielsen in East Hanover, NJ, they robbed me blind. They actually managed to do that, because they tricked me, so I am out of money and no way to complain...

    Good luck!
  • ucla56ucla56 Posts: 5
    What are the current terms for Grand Cherokee Laredo for 36 months and 12k miles?
    Thanks
  • First time posting on the forum so any help would be greatly appreciated! I have agreed to lease a 2012 JGC Laredo X , 4x4, 5.7 v8, 430n media center, sunroof , power lift gate, offroad adventure 1 package, leather seats, select terrain etc. msrp on vehicle is at $41255 with ep bought down to $36525. Tax and tags brings it to $37320. leasing for $335/month $3800/down 12k/36 months. Getting a lot of horror stories from friends about leasing and how at end dealer got the best of them (don't want to be one of those guys with buyers remorse) love the truck just need a little reassurance first time lessee. Signing paperwork in two days.
  • ucla56,

    Lease a 2012 JEEP GRAND CHEROKEE LAREDO 4X4 for $249 per month for 36 months. Total due at signing: $1,876. No security deposit required.

    You may want to visit, www.Jeep.com for more information.

    Lisa
    Customer Care
    Chrysler Group LLC
  • its2loudits2loud Posts: 8
    edited April 2012
    Any money down on a lease is a lose, lose situation. You might as well be throwing that money in the garbage. Negotiate the purchase price of the vehicle first, then tell the dealer you want to lease it. Check every term of the lease and do not put any money down to reduce the CAP cost. Taxes, Title, and Acquisition fees are the only items you should pay for when taking deliver of the vehicle.. This is what I've been told and what I've been reading on here and other forums time and time again.
  • Thank's 2loud, had negotiated the price down to 36 from close to 42. so the only thing added to it was the tax and title. which bought it up by a grand. Wife was actually deciding factor she doesnt want to pay more than $340 a month hence the $3800 down. Happy wife happy life!!
  • mom2addimom2addi Posts: 3
    edited April 2012
    I haven't leased since 1993.Anyway, the lease proposal is below and I would love to know what everyone thinks before I go for it. Need help fast please!

    Grand Cherokee Laredo X / 4x4 / Nav / sunroof
    MSRP: $38,485.00
    Negotiated price: $34,500

    36 months - 15,000 miles/year
    Down payment: $3000 includes1st payment,start up,taxes &tags & cap reduction
    Monthly: 419
    purchase at end of lease19,242

    Not sure of important questions to ask. please help. Valerie



    Any feedback would be really helpful.
  • nyccarguynyccarguy Stamford, CTPosts: 7,413
    Valerie

    What does the $3000 "down payment include?"

    I don't advise "putting money down" as a capitalized cost reduction or paying sales tax up front. If your car is stolen or totaled at any point during the lease, that money is lost.

    What is the money factor or lease rate they are charging you?

    2001 Honda Prelude Type SH/ 2011 BMW 328xi / 2011 Honda Pilot EX-L w/ Navigation

  • mom2addimom2addi Posts: 3
    the money factor is .40, and 50% residual.

    They also said how about just putting 1500 down and my payment would be 465.
  • nyccarguynyccarguy Stamford, CTPosts: 7,413
    The only upfront costs you should be paying are:

    1st month's payment
    Security Deposit (they should waive this if you have excellent credit)
    Bank Fee

    2001 Honda Prelude Type SH/ 2011 BMW 328xi / 2011 Honda Pilot EX-L w/ Navigation

  • mom2addimom2addi Posts: 3
    Ok thanks for your help. Do you think it's a good lease assuming I work the last part out?
  • Currently leasing a 2010 VW CC Sport with 18K miles that is in mint condition. Stopped off at my local Jeep dealership to trade it in on a 2012 Jeep Grand Cherokee Laredo 4x4 with Bluetooth (Convenience Package), Moonroof, Push Button start and Chrome Running Bars. MSRP on the truck was just over $34K. He was trying to sell me the car for just over $30K (about $3K off MSRP). Buyout on the VW was $17,986 and he offered me $18,500 (positive equity) but it seems im trying to get taken on the lease end, as the payments came out to $369 a month with 10K miles on a 36 month lease. Thats only with first month and DMV out of pocket (about $550 or so.

    I told him I wanted to be at $350 a month with 12K miles, with only first month ($350) and DMV (approx $200) out of pocket. Thats with tax and everything included, and them taking me out of my VW lease and buying out my current car outright. Still waiting to hear back from dealer to see if they even want to do the deal, but if they do I will prob jump on it.

    Oh residual was 52% (aweful) and MF was 0.0014 (i think)
  • Lisa, nowhere on the website does it give this offer?
  • nyccarguynyccarguy Stamford, CTPosts: 7,413
    Using the MSRP, residual, & selling price you provided me + the .0014 (3.36%) money factor provided by another poster (it can't be .4 as you stated), I plugged the numbers into leaseguide.com's calculator & got a pre tax lease payment of $499/month with a $0 cap cost reduction.

    Where did you get your selling price from? You should plug your Jeep's options into edmunds.com here & make sure you are buying the Jeep for at least invoice, maybe less if there are incentives out there.

    Good luck & let us know what you come back with.

    2001 Honda Prelude Type SH/ 2011 BMW 328xi / 2011 Honda Pilot EX-L w/ Navigation

  • ucla56ucla56 Posts: 5
    Hey Lisa, Sounds good but I don't see the info. Any more help please?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Wow 10.25% tax, pm22. I'll never get used to seeing that. Ouch.

    Ally's April base lease rate and residual value for a 36-month lease of a 2012 Jeep Grand Cherokee X 4WD with 12,000 miles per year are 0.4% and 52%, respectively.

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

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello ucla56. Ally's April 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 0.4% and 52%, respectively.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • jeepgc12jeepgc12 Posts: 3
    Hi,

    This is my first time leasing and I need to make sure the deal is OK. This is for a 2012 GC Limited 4x4 3.6L V6 with Luxury Group II and 20" wheels.

    MSRP $42,510
    Negotiated Price $38,300
    $2,452 due at start including first payment, plates, doc, and title
    Monthly payments $456 + tax ($485 including tax)
    10k miles per year / 36 month term
    Money factor is .0055
    Residual is 51%
    Buy out at end of lease is $24,180

    I have a 782 credit score, so paying 13.2% APR (.0055 MF) seems really high. How does that residual value compare? Per Truevalue.com, $38,300 is a great price for the car, but are these payments fair? What should I negotiate for?

    Thank you!
    Jim
  • jeepgc12jeepgc12 Posts: 3
    To clarify, the interest rate used in the lease is 0.55%, not a .0055 money factor--the dealership misquoted me originally.

    Thanks for your help!
This discussion has been closed.