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2013 and earlier Jeep Grand Cherokee Lease Questions

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  • Hi osuwk. This truck's lease payment looks pretty good, but you really should find out what its selling price is before you finalize your deal. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without knowing this truck's price, you don't know if there is any room left to negotiate.

    Car_man
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  • Hi jewell06. What the dealer told you about this truck's high money factor is correct. Unfortunately, DaimlerChrysler is no longer providing lease support on 2006 models. As a result, if you were to lease one through Chrysler Financial right now, you would have to use its standard lease money factor. Its current buy rate standard lease money factor for 36 month leases is .00332 for consumers who qualify for its top credit tier. If you want to lease this truck through Chrysler Financial right now, this is as good as its month factor is going to get. When negotiating your lease on any 2006 Jeep Grand Cherokee, make sure to take the $6,000 dealer cash that is currently available on it into account. This cash, along with a large dealer discount will help you to negotiate an attractive capitalized cost for your lease.

    Car_man
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  • Congratulations on your new truck, melram. Thanks for taking the time to share the details of your deal with everyone. Enjoy :shades: .

    Car_man
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    Prices Paid Forum
  • The selling price of your truck through this program should be a set, attractive price. It never hurts to know what the dealer invoice price and available incentives are on the vehicle that you want are prior to finalizing your deal, just to make sure the price that you're getting looks right. All of that information is available right here at Edmunds.com. You also should make sure that the money factor that is being used to calculate your truck's monthly payment looks reasonable. I have not seen, Chrysler Financial's current buy rate for a 27 month lease of this truck, but if Chrysler Financial's current buy rate lease money factor for a 24 month month lease of a 2007 Jeep Grand Cherokee Laredo 4WD is .00120.

    Car_man
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    Prices Paid Forum
  • I have two choices a overland with a selling price of 43575 and a SRT8 with a selling price of 45340 both will have a down payment of 5000. I currently have a 04 WJ with 5 months left on my lease. Do you think it is possible that I can exit this lease early? Thanks CarMan
  • In Northern California

    Grand Cherokee Overland
    MSRP - $44,775.00
    Selling Price - $41,422
    Money Factor - .00186
    Residual - 48%
    10.5k annual miles

    $532/month + tax

    Is there room to negotiate this selling price lower? I didn't get the rebate coupon and don't qualify for the loyalty cash.

    Thanks much.
  • my wife is going to be leasing another grand cherokee. i am good with negoeatating purchase price but am lost with leasing. can you give me some insight into this? for example if i got a purchase price of the following:

    MSRP: 35650
    Selling Price: 28426

    Now how would i figure out the lease price for a 27 month lease? how do you figure down payment? This will be leased in NJ.
  • I am currently leasing a 2005 Jeep GCL, my 39 month lease will expire in June or July of 2008. This is the first time I have leased a vehicle and I have some questions about what will happen as the lease ends. I have heard that Chrysler/Jeep run programs to entice current lessee's to lease a new vehicle from them. At what point should I start looking for such offers? How are they usually communicated? Will it matter if I purchase or lease the next vehicle? Will I be able to choose between any of the lines with in the Jeep/Chrysler family of vehicles? I have read that 3 months is pretty standard for pulling ahead your lease, is it ever lengthened from this 3 months?

    Finally, how is the mileage handled during these pull ahead months. If with three months to go, I have under the end of lease mileage, but I'm over where I should be at with 3 months to go will there be any additional charges? Is there a cost or benefit to have less/more miles than what is planned?

    Thanks for your help, our lives have changed a little since we started this lease. We are now looking for a vehicle with better fuel mileage.
  • Hello,

    Just got out of a dealer, He quoted me 489 a month on a 27 month lease with 15,000 miles, my out of pocket was around $ 2700 which covered tax,1st payment, bank fee, not dmv. they said msrp is 43,800 and the selling price to me after rebate is 37,700. They want $ 500 deposit and said the car that I order will be in between 6- 8 weeks. They said the residual may change be the time the car come in and may change my payment, after I heard that I walked out.

    Can someone tell me how I should handle this dealer and how I can lock in a payment?

    Tks
  • Hey crookster. DaimlerChrysler is currently running an early lease termination program on the 2007 Jeep Grand Cherokee. This program will waive three remaining lease payments for returning Chrysler Financial lessees. You have four payments remaining on your truck, so you will either have to wait a month to get something new or make the fourth payment on your own.

    I see that you are considering making a $5,000 down payment on your new lease. I always advise community members against making down payments on leased vehicles. The main reason why I do so is if your leased vehicle is totaled in an accident or stolen and never recovered your down payment will essentially disappear.

    Car_man
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    Prices Paid Forum
  • Hi groundhog6. A base 2007 Jeep Grand Cherokee Overland has a spread of around $3,500 between its full MSRP and its dealer invoice price. On top of that, DaimlerChrysler is providing $3,500 lease cash. That means there is a total of $7,000 to play with. You were quoted a discount of $3,350 on the truck that you are interested in. If this price is after the lease cash is taken into account it is too high. If you are able to have the lease cash subtracted from this number, you're in good shape. Make sure that the dealer uses Chrysler Financial's current .00172 36 month money factor to calculate your truck's monthly payment.

    Car_man
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    Prices Paid Forum
  • Greetings crepitus. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    I can give you an idea of what this truck's lease payment would be like, but in order for me to do so I need you to tell me exactly what model you want, i.e. a Laredo 4WD, a Limited 2WD, etc..., and what mileage allowance you need.

    Car_man
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    Prices Paid Forum
  • Hi minn55441. If you are interested in getting out of your lease early, DaimlerChrysler frequently runs early lease termination programs that allow Chrysler Financial lessees out of their deals up to three months early at no charge. You may or may not receive an offer in the mail describing this program to you, but it usually exists. It does not batter whether you finance or lease your new DaimlerChrysler vehicle, but you have to do one of the two through Chrysler Financial to qualify for it. I am not sure if Chrysler Financial still allows you your vehicle's full mileage limit or an adjusted one for the three months that you are not paying for if you take advantage of this program. You will have to check with them or your dealer to find out for certain. Unfortunately, consumers who are significantly under their vehicles' mileage allowances do not receive any credit for unused miles.

    Car_man
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    Prices Paid Forum
  • We test drove the CGL w/Hemi today. My dealer, who I tend to trust priced out the truck with nav and dvd as follows (rough):

    42k msrp
    said invoice was about 3.5 k off msrp
    gave me 4k incentive off
    1.5 k i have to pay for my current lease
    so selling aroun 39.5
    he told me out the door for about 550 a month. Is this in the ballpark?

    also, is the hemi worth the extra 1k?

    thanks,
    frank
  • Car man, do you know the current money factor, residual #s, and incentives for a 2007 Laredo with either a:

    27 / 36 months lease
    12k / 15k miles

    Thanks
  • Does anyone know when the March lease deals get released?

    -Frank
  • Frank,
    I dont think you are getting that great of a deal. I leased a Limited with Hemi a month ago. Car was fully loaded including Nav, DVD, U connect everything possible except the tow package. MSRP was 44,000. I paid $800 at signing total and my lease is $499 a month 27 months with 15k per year in miles.

    Hope this helps
  • kindzcar,

    what dealership did you go to if you don't mind me asking? also what was you factor and rebates
  • mf15mf15 Posts: 158
    I have leased 4 GC's since 1996.
    I am currently driving a 04 base 4wd GC, the lease is up in August. Anyhow what I want to say is that on my 02 they had a 6 month pull ahead program and I got the 04, nothing down,no bank fee 0 out of pocket, 289 a month plus 9%pa tax.
    They must have been even more desperate to move these back then.
    To me some of these lease payments look high, but of course I have the base model 4wd no extras. They will have to give me an even better deal to lease another, 13 MPG going to work on back roads does not cut it with these gas prices, and when it was over 3.25 a gallon I was really not happy. That being said I love driving it. Old Mike
  • Thanks for the info Mike. I'm interested in your 6 month pull ahead from a few years ago. How did they treat your mileage at the time? Where you about where you needed to be with 6 months left on your lease? After 24 months on a 39 month lease, I'm about 1,500 miles (one month)over where I should be. It won't be hard to cut back and drive our other vehicle, I'm just wonder how hard I should work at cutting back the miles if they are just going to forgive the excess miles at the time of trade-in anyway.
  • mf15mf15 Posts: 158
    Minn: I was way under my miless only had about 22000 on it and the dealer bought it. I do not believe that they will forgive excess mileage, if you would go the full lease term.
    But if you pulled ahead 3 months then you may be under the allowed miles, just dont go over what you are allowed or you will be charged. This is a guess. Old Mike
  • I am looking into leasing a Jeep Grand Cherokee, Limited 4WD. I need only 10,500 or 12,000 miles per year, with a 24,27 or 36 month lease term. I am interested in getting an idea of what the monthly payment will be as well as, how this varies with the lease term, considering that it is half way through the model year.

    I also have a vehicle for trade-in, that I own outright, that I will get approximately $2,000 per KBB. Is it worth trading in to the dealer and applying it to MSRP of the new lease? Or would I do better selling individually and putting the cash to use to pay my monthly payments?

    I am a first timer, so any advice or recomendations would be very helpful. Thanks all.
  • i looking to lease a GC laredo 4wd base with 12k miles for 24/27mos.. i am currently leasing a wrangler, so with the incentives, how much do you think i am looking at paying per month? thank you
  • avmbaavmba Posts: 24
    Car_Man, I would appreciate your advice.

    I am considering leasing a JGC Limited 2WD with Hemi, Nav, wheels, etc. Details Below:

    OPTIONAL EQUIPMENT
    Customer Preferred Package 25H
    Navigation/Rear Back-Up Camera Group $ 1,890
    ParkView(TM) Rear Back-Up Camera
    DVD-based GPS Navigation System with 6-CD/MP3 Chngr
    ParkSense(TM)Rear Park Assist System
    5.7-Liter HEMI(R) Multi Displacement Engine $ 845
    Dana 44/226MM Rear Axle
    SIRIUS(R) Satellite Digital Radio
    UConnect(R) Hands-Free Communication $ 275
    P245/65R17 OWL All Terrain Tires $ 190
    17" x 7.5" Aluminum Chrome Clad Wheels $ 820


    DESTINATION CHARGE $ 695


    TOTAL PRICE:* $ 39,445



    I want to lease for 36 months. I can get employee pricing on this vehicle (don't have the exact figure for this one as I haveh't seen the invoice, but it should be about $30500.

    Can you confirm what the money factor and residual would be for this vehicle (though 2/28) and the rough payment?

    Thank you!
  • avmbaavmba Posts: 24
    I am also interested in the 27 month #s. Looks like purchase price would be $30384 and payments would be $403 plus the tax (it's 8.1% here in Phoenix). Rough drive off costs are being quoted as $1400.
  • dpeck1dpeck1 Posts: 51
    What dealer? I am in NY
  • dpeck1dpeck1 Posts: 51
    I am looking at a grand cherokke limited:
    MSRP: 38,435
    Buy: 31,935

    I am looking to do a 27 month lease, 15K per year. I am in the NY area.

    What should the payments be with the correct residual and money factor? THanks.
  • rp1rp1 Posts: 1
    I live in Southern California and I'm looking at leasing a 2007 Grand Cherokee Laredo 4x2 w/Sun and Sound package

    MSRP is $29,385 The dealer said they'd give me the car for $23,200(after rebates and incentives)

    36mon/12k per with 2,200 out of pocket covers all fees(1st payment etc.) for $358 a month. Just wondering if this is a good price. 358.00(tax included) a month seems a little high for that car.

    I really need help asap!

    Thanks in advance,

    RP1
  • avmbaavmba Posts: 24
    That sounds high to me.

    I just leased a JGC Overland with a negotiated price of $30400 (I had employee pricing, $3500 in rebates, $500 in dealer coupons, and some other negotiating).

    For a 27 month lease with a money factor of 0.00097 and residual of 52% and about $1400 in cash (to cover first pymt, acquisition, and license) I was at $430 a month.

    Have you used a lease calculator to make sure you know exactly how much you are paying?

    I would use one (here is the one I like: LeaseGuide Calculator. Make sure you ask them what the money factor is and how it compares to the Chrysler one. You should be able to get something close to my MF (it may have changed a bit since February) and then run all the calculations yourself. If everything doesn't match up, go to another dealer. I bet the dealership you first used will call you with new #s.

    I bet you can get that payment lower with a little investigation (or possibly shorten the lease term if it improves the residual).

    Good luck!
  • dpeck1dpeck1 Posts: 51
    What was the MSRP of the overland you leased? thanks
This discussion has been closed.