Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





2013 and earlier Jeep Grand Cherokee Lease Questions

15253545557

Comments

  • kwteng2kwteng2 Posts: 7
    Hello Car Man

    I was just quoted $610 a month for a zero down 36 month lease at 10,000 per year. The MSRP is $41,750. I am also paying taxes and fees up front. This seems very high and the dealership wasnt very willing to go over actual numbers or discounts. What should the numbers be for this lease.

    KWT
  • Hello!

    Does anyone know the May 2013 lease rates (money factor and residual value) for a 2014 Jeep Grand Cherokee Limited 2WD V6? I am considering both a 24 month and 36 month lease at 15,000 miles per year. Also what kind of sales prices are people getting?

    I am looking at vehicle with an MSRP of $38,680.

    Thank you!!

    Mike
  • twins12709twins12709 Posts: 8
    my dealer is quoting me 53% residual and .00085 mf on a jeep overland. msrp 44k selling price 42k.
    are these numbers off? is the mf or residual a "secret" .
    can u post current residual and mf rates amd what payment would be (10k miles / yr 36 mths...little to 0 money down)
    i have 781 credit score.

    thx
  • yandryandr Posts: 2
    edited May 2013
    Hi Carman,

    I’m looking to lease a 2014 Jeep Grand Cherokee Limited 4x2 with a V6 engine in Los Angeles. I would like the Luxury II and Advanced Technology Packages. The MSRP is $43,980. The Lease term will be 36 months with 12,000 miles. I was quoted a money factor of .00075 and a residual of 55%. The net cap cost was $41,949. Monthly payment with zero down was $589. Do you think I can do better? If so, what part is open to negotiation?

    Thanks so much for your help. I really appreciate it.
  • dewarsandsodadewarsandsoda Posts: 120
    Hi vandr,
    My apologies in advance if i sound pedantic, but a lease is only based on three variables: Negotiated sales price; Residual Value (RV); and Money Factor (MF).

    RV is a fixed percentage set by the bank that's doing the lease (non-negotiable). There is a base rate MF that is suggested by the bank as well but dealers have the latitude to mark it up as another source of profit, so this variable is negotiable if it has been marked up. Also make sure the acquisition fee is the standard $795 and not marked up.

    As an aside, based on your numbers, I calculated a monthly pre-tax payment of $543.

    Cheers!
  • twins12709twins12709 Posts: 8
    my dealer is quoting me 53% residual and .00085 mf on a jeep overland. msrp 44k selling price 42k.
    are these numbers off? is the mf or residual a "secret" .
    can u post current residual and mf rates amd what payment would be (10k miles / yr 36 mths...little to 0 money down)
    i have 781 credit score.
  • twins12709twins12709 Posts: 8
    my dealer is quoting me 53% residual and .00085 mf on a jeep overland. msrp 44k selling price 42k.
    are these numbers off? is the mf or residual a "secret" .
    can u post current residual and mf rates amd what payment would be (10k miles / yr 36 mths...little to 0 money down)
    i have 781 credit score.
  • dewarsandsodadewarsandsoda Posts: 120
    Hi twins12709,
    Please ask Carman on this forum to give you the RV and MF for your 3 year/10K lease on the Overland and then you can validate against the dealer's numbers.

    The calculations of a lease payment would be as follows,
    Monthly Depreciation = (Cap Cost - (RV*MSRP))/Lease Term
    Monthly Interest Charges = (Cap Cost + RV*MSRP)*MF
    Monthly Lease (pre tax) = Monthly Depreciation + Monthly Interest Charges
    *N.B.: Cap Cost assumes Negotiated Sales Price + Acquisition fee only (i.e., no cap cost reduction or $0 down)

    Cheers!
  • yandryandr Posts: 2
    Dewarsandsoda,

    Thank you for your response. If I understand correctly, the two variables that are negotiable in a lease are the MF and the NSP (along with the acquisition fee if it exceeds $795). How do I confirm what the appropriate MF should be and what a fair NSP is?

    Thanks.
  • twins12709twins12709 Posts: 8
    my dealer is quoting me 53% residual and .00085 mf on a jeep overland. msrp 44k selling price 42k.
    are these numbers off? is the mf or residual a "secret" .
    can u post current residual and mf rates amd what payment would be (10k miles / yr 36 mths...little to 0 money down)
    i have 781 credit score.
  • jbowzjbowz Posts: 1
    All,

    This may or not be the proper place to pose this question, but from reading through the posts many of you seem very knowledgeable about Jeep/Chrysler related finance issues.

    I currently have an '11 BMW 335i XDrive Coupe, and the lease ends September 2013. I'm already getting the auto emails from BMW of Manhattan to trade it for a new model, and they'll waive fees, waive my remaining payments, waive the first two payments on a new model.

    I really want out of the car and back into an SUV (X5 is not an option)... Up unto October/Nov 2012, I had a credit rating of 735 (TU) 740 (Ex) 710(Eq); Hurricane Sandy wiped out my family in Long Beach, NY which is along the coastline, and the end of October 2012. I poured all of my money into getting them housed, fed, clothed with hopes of reimbursement from FEMA/Insurance - no such luck as of yet. I missed 3 payments on my BMW lease, and remained in complete contact with BMW Financial about my family circumstances (they verified my addresses as being in the affected area) - the basic customer service agent even waived my November payment, so technically I was only 2 payments behind, I gave them an exact date (Feb 1) that I would make the account current, and they told me it was absolutely no problem. BMW repossessed my vehicle on January 27, 2013 because it was two payments behind. I paid BMW through a ridiculous process via Western Union, and they released my car to me the next morning even though they had an option to auction it. The man on the phone told me that they would never auction it off for two payments being missed, yet he didn't have an answer as to why they would repossess after two missed payments. I digress. Nonetheless, as I near the end of my BMW lease, I absolutely will not lease from BMW again even though they are already qualified me a week ago during a run-flat replacement...

    Given I have an excellent history of credit up until November 2012 (I now have a f$%@! repossession on my credit reports) will Jeep qualify me for a '14 GC lease as I'm probably going to be considered high risk? Will they look at my credit reports as a whole.

    Thanks for any respectful replies in advance.
  • dewarsandsodadewarsandsoda Posts: 120
    Hi yandr,
    Carman would be your most accurate source for the base rate MF and a target sales price. Two other alternatives on MF could be as follows,
    1. Call several other Jeep dealerships and ask them for the MF's for top tier credit. Hopefully, you will get equivalent MF's, so you will be able to triangulate.
    2. Check ridewithg.com as sometimes he posts the MF

    Fortunately, American car companies have lower interest charges than their European counterparts. From the postings I've seen on here the MF's translate to <2% (i.e., MF x 2400).

    Cheers!
  • dewarsandsodadewarsandsoda Posts: 120
    I'm very sorry to hear about your misfortune, jbowz. To my knowledge, all potential leases require that the dealer runs a credit report as that will dictate your credit tier and subsequent MF. That said, you should probably call Chrysler Financial, explain your situation, and ask them directly as to how it would be handled (i.e., would they only look at the current credit report or credit score history).

    Cheers!
  • jgcdriverjgcdriver Posts: 1
    Hello

    What are the June numbers (MF and RV) for a 2014 4x4 Overland V6 with 12k miles year/36 months? MSRP just under 47k. What should be an expected NSP? Is 10% under unreasonable? I am a returning jeep customer as well. Thanks to all in advance for any help. I've been a reader for some time now and finally an official user of the site.
  • kwteng2kwteng2 Posts: 7
    what are some lease deals that people are getting?
  • listratslistrats Posts: 1
    I currently have an offer on the table for $559 a month for a 36 month lease with 12,000 miles per year with 0 down besides the fees and first months payment..taxes are rolled into the monthly payment..

    Realistically how much farther down can I go. Its the Overland 4x4, WITHOUT the technology package. I would love to get it closer to 500 per month if its possible.

    Thanks in advance!
  • franknussfranknuss Posts: 3
    edited June 2013
    Live in NYC so expect to pay a bit of a premium, along with higher tax rate. For a 2014 GC Limited w/ Luxury & Tow IV Packages and 20" wheels ($45,080 MSRP) at 36 months/10,000 miles, I'm paying $515/month with a total of $1,415 down (this covered $900 fees + $515 first month). These are my all-in costs for the lease though I stupidly forgot to try to negotiate away the 'disposition' fee of $395 so I guess add that back in.
  • Hi
    Did you ever get that lease? I am interested in a similar deal please let me know how it turned out.
    Thanks
  • sodapop3sodapop3 Posts: 5
    I am in Northern California. I a looking to lease a 4x4 Grand Cherokee Overland V6 with the Advanced Technolgy Package, I have received the following offer and would like your feedback. MSRP $46,685, invoice $46,288, selling price $44,488. Lease 36 months, 12k miles, 0 drive off $599 a month, or $5000 down $485 month. Any call outs would be appreciated. This would be my first lease. Thanks.
  • kwteng2kwteng2 Posts: 7
    I would never put money down on a lease.
This discussion has been closed.