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2013 and earlier Jeep Grand Cherokee Lease Questions
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I'm looking to lease an 08 Grand Cherokee Limited. Could you please provide November residuals and money factor for a 39 month 15k mi/yr lease? Thanks.
Also, jeep.com is only showing a $500 rebate for a lease on an 08 limited gas engine, with no lease loyalty incentives. But, when I build one, their car configuration program is showing $3500 off. Do you have any insight into what the actual rebates are for november?
The site lists 2 incentives:
Grand Cherokee Limited/Overland (Gas engine) $500
Grand Cherokee w/gas engine (excl. SRT8) $3000 lease cash $1000 lease loyalty
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
This truck's lease program varies by term and mileage allowance. You never mentioned how long you want to lease it for or what mileage allowance you need, so for now I will assume that you are interested in a 36 month lease with 12,000 miles per year. Let me know if you want something different. Chrysler Financial's current 36 months buy rate lease money factor and residual value for a 2008 Jeep Grand Cherokee Limited 4WD with 12,000 miles per year are .00001 and 45%, respectively. The numbers for an otherwise identical lease of a 2008 Grand Cherokee Overland 4WD would be .00017 and 45%.
When negotiating your lease on these trucks, make sure to take the $3,000 lease cash and up to an additional $750 in regional bonus cash into account. The cash incentives will help you to negotiate an attractive capitalized cost for your lease.
You never mentioned the selling price or MSRP of the exact truck that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing what this vehicle's selling price is in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to work up a sample lease payment on the Grand Cherokee that you are interested in for you if you let me know what these numbers are.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
As far as the cash incentives that are available on this truck go, Chrysler is currently providing $3,000 lease cash plus up to an additional $750 regional bonus cash on the '08 Grand Cherokee. Make sure to take this cash into account when negotiating your lease.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Talked to my salesperson last night, this is the final deal, which I'll be taking:
2008 Grand Cherokee 4x4 Limited with 5.7L Hemi
36 month lease / 15k miles/yr
MSRP: $42,600
Residual: 45%
Cap Cost: $36,100 (includes $3500 in rebates)
Money Factor: 0.00021 (0.5%)
Additional Fees: $700 (I forget what this was, doc / dealer fee)
Total out of pocket: $1000
Monthly payment: $507
This includes 7.25% sales tax.
It seems like a good deal to me. They started at 37,200 which made the payment 536/mo. I pressed them for 495/mo but they would not budge. I wasn't going to kill the deal over $12/mo.
Thanks to everyone for their experiences, it was a great help going into the negotiations.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
2008 GC Overland 4WD, only option white letter tires
MSRP: $44,325
Sale Price: $36,903
Net Cap Cost: $32,342 (liscense, acq, fees, taxes, rebates, 1st payment)
36 mos, 10,500 miles = 46% residual
Rebates total: $6,000 (we're eligible for everything including Employee price/bonus)
Monthly payment: $395 even including 6% tax
Money factor: .00077 (a little high, but I know why and still 1.8%!)
$0 due at signing "Sign and Drive"
I pushed the price down some, but didn't have too much to push. Detroit region by the way. If you can get all the rebates and the EP pricing, this is hard to pass for a $44k SUV.
Can you let me know what the current money factor and residual should be for a 2008 Laredo lease for 36 mths and 15k miles in New York ?
Thanks
Since Chrysler Financial is offering such big incentives on the JGC right now, I am looking into a lease on one....so, if you wouldn't mind, please give me figures for
2008 2WD Jeep Grand Cherokee Ltd
15K/yr
36 or 39 months
w/Hemi and Nav
Also, what is the difference in residuals/money factor if I go with the Laredo, 2WD. Does the engine choice (V6 vs V8) impact the figures at all?
The GC Ltd I am looking at has an MSRP of 38,485....Incentives for me would be $4500, plus whatever I can negotiate. I am hoping to get them close to invoice, which, if I've estimated correctly, would put me in the low 400's for a payment (425-435), if I calculate the sales tax on the negotiated final price (which is what I've always had done in the past).
Thanks,
ChiGirl
196 per month 27 months (payment includes the all taxes -high for NY)
I paid in total drive out the door money of $3450
10k miles per year
The car was automatic but with nothing else other then sirius satellite.
I really had to fight for this deal, so I don't think its common. MSRP was 28.5K think it was 8K off of MSRP and then the residual 15,500 after 27 months.
Did I get a good deal? Love the car, I've had other trucks before but I like this ones authetic feel.
Never mind.....I drove home in a new (2008) 2WD Grand Cherokee Overland on Saturday night....will post my figures soon. I got a great deal, love the vehicle, thanks to Edmunds for arming me with good info prior to negotiating!
ChiGirl
2008 Jeep Grand Cherokee Laredo
28 W package
4.7 L V8
Trailer Tow Class IV
P245 tires
msrp $34,530
sell to leasing company $30,550
3500 lease cash
I turned last lease in 6 months ago so no loyaly?
36 months
10,500 miles a year
money factor .00041
residual 52%
Payment $326.00
plus $600 out of pocket to me.
is the $750 dealer cash good in Michigan?
Is this an ok deal?
Thanks,
Mark Wagner
2008 Jeep Grand Cherokee Overland 2WD
MSRP: $40,890 (OWL tires the only added option)
Net Cap Cost: $31101
Sales Tax: $1944 (6.25% in Texas)
Total Cap Cost: $33045
Residual: $17,173 (42%)
Miles per year: 15K
Money factor: .00135
Monthly payment: $474.74/39 months
Paid first payment and registration down. We think we got a great deal and love the vehicle! Hope this is helpful to anyone considering a Grand Cherokee.
My question is this. Monthly lease payments with $2,500 down would be $325+/- for a V6 model vs $350 +/- for a V8 (4.7). I am leaning toward the V8. as the 210 HP V6 seems under powered for a 4,500 lb vehicle. Dealer currently has about 20 V6s in his inventory, but only two 4.7 V8s and two Hemi's at $40,000+. Can anyone out there convince me to spend the extra $25/ month for the 4.7 V8. Thanks in advance for your input.
1) Do you haul (with trailer) things on a regular basis? If yes, go with the V-8.
2) Do you like to hit the gas and feel the response? Get on expressways frequently? If yes, go with the V-8.
I had a V6 JGC rental for a week, and it really wasn't bad in terms of response, but after driving the V8, I knew my "need for speed" would require the larger engine. We also occasionally have to haul things, and since I don't have a long commute, gas mileage is not as big a factor for me (please no bashing, environmentalists!).
I personally would opt for the bigger engine for the extra $25 since the gas mileage really isn't that much worse, but I'm one of those who likes to feel the response when I am getting on the expressway. I didn't plan on ending up with the Hemi, but to get a vehicle with navigation, the only one in the area was an Overland, so now I am loving the growl of this big boy, and watching the fuel gauge drop almost before my very eyes....
Either way, I think you'll enjoy the vehicle. Good luck with your decision!
I felt a little cramped in the Saturn (I'm 5'11, hubby is 6'3") and l prefer being higher up for visibility. The Saturn is smooth, no doubt, but I personally liked the trim/finish in the Jeep better. The wood trim in the Outlook looked fake and cheap, IMO, and I just couldn't get excited about it. I am loving the Jeep--the higher ride, the V8 power, the interior look....what can I say? I looked with an open mind, but just couldn't find anything I liked as much as the Jeep for the $$$.
Let us know what you end up doing, and good luck!
MSRP: $34,195 (28E package)
Annual Miles: 10,500
Residual Value: $16,071.65 (47%)
Lease Rate: .00062 (1.488%
Selling Price: $32, 675.81
Rebates: $5,000
Cash Down: $3,000
Adjusted Cap Cost after all fees, tax title, 1st. pmt. etc.: $27,435
Monthly PMT. $340 (36 months)
I don't think I could do much better than this. I was at the dealership over 4 hours between test driving various vehicles and haggeling with the sales manager. I think they glad to see me go.
Merry Christmas to you and all forum posters/lurkers!
I recently leased a JGC via Chrysler Leasing.... They are using a $425.00 disposition fee... ? Is this standard across all Chrysler Leases ... ? is it negotiable... ? I am fully aware they will waive the fee if you purchase another Chrysler / Jeep product and curious how to avoid it all together... My current JGC lease is expiring from 2005 and it has a $300 disposition.
Thanks in advance....
Below is the deal I have been offered.
08 Limited
package 25H
MSRP $42,585
36 mo term
12,000 per year
0 dollars down
507 a month
MF .00038
Opinions?
Also will these deals go away in 2008?
You might be able to get a bit more off, if you're a patient and firm negotiator. We were ready to walk a couple of times, but got the deal we wanted by holding firm on what we wanted to pay. I don't think these SUVs with large engines (ie not great gas mileage) are not selling that great, so hold your resolve....you might be surprised!
Good luck!
Chigirl
MSRP 36,910
Inv: 33,729
GCC: 32,972
CCR: 5,000 (3K, 1K, 1K)
ACC: 27,972
Res Val: 16,978
3yr. / 36K
$325/mo (not incl tax)
$100 toop
Any thoughts... ?
Thank You.
Can someone give me the current money factor and residual for a 2008 Grand Cherokee Laredo 2x4, 10k miles, 36 months?
Also, a question about that money factor. Is that the absolute lowest possible at a given time, or something else? One of my credit scores is 705 (I just found out there's a mistake on this one), and the other two are in the high 760's. I know what kind of loan rates I can get approved for, but the leasing money factor is still kind of confusing to me. Should I assume the lowest money factor when negotiating?
I see the $3500 lease cash & $500 bonus cash on the Jeep site, are there any other offers to be aware of in the Los Angeles area?
Thanks.
I am new to the site as I have been happy with my 02 GC sport for a long time. I am looking to sell it now and use the cash for other purposes. So now that I live in a city I dont drive nearly as much and think a lease would work for me.
I was scoping the model and extras below and if anyone out there can help me with targeting a good deal (cap cost/mf factor and lease payment) I would appreciate. The whole lease calculations I see here are great but no matter how many times I tried I cannot figure it out. I am in downtown st louis
08 GC limited
Green color upgrade
5.7 hemi
quarda drive 2 package
trailer tow class 4
thanks alot for your help!!
I think the Jeep (Chrysler-Dodge) dealerships in general are negotiating fairly well on the models with larger, gas-consuming engines. We were surprised at how much we were able to get off the MSRP of our JGC Overland, but of course, we had no trade to deal with (we sold it separately to CarMax, making it easier to negotiate our deal).
The way the lease works is this: Find out what interest rate you think you qualify for (within what the manufacturer is offering) and the residual value of the vehicle you are looking at. Factors that impact this value are specifically the car trim level (ie Laredo vs Limited vs Overland vs SRT) as well as 2WD vs 4WD and the number of miles you will drive it over the lease (15K per year, 12K per year. etc).
If you ask car_man for specific figures on the vehicle you are considering, he should be able to give them to you. He will know the current lease money factor (interest rate) and residual value percentage for the vehicle you want--they come from the manufacturer. You have to tell him how many miles you expect to drive, how many months your lease will be for and which trim level of your car you expect to buy. Figure the residual from the MSRP (sticker), but your capitalized cost should be what you negotiate the price down to (usually plus tax, title, license),,,,then you should be able to calculate your payment. As stated by others, you can put money down to reduce your payment. But remember that if, by chance, you car gets totatled or stolen, that money is gone forever. So most forum experts recommend putting as close to zero down as possible when leasing.
Some cars have better lease support (ie lower interest rates and rebates) than others. I got my Jeep GC last month, and they were offering a decent money factor/interest rate and lots of incentives ($4500 plus what we negotiated off of MSRP). It all works toward a much lower lease payment. In fact, we were able to get the JGC at a lower lease payment than the Liberty, whose sticker was $10,000 lower but had no incentives, either rebate-wise or lease/money-factor.
By the way, my credit score was only around 700, and I was still able to qualify for Chrysler's lowest money factor/interest rate available for my vehicle. Don't know if it's because we were existing Chrysler Financial customers or not....
I hope this info is helpful. Good Luck, and let us know how it works out!
Also, is the MyGig discount still available?
Thanks!
I can't get the problem of vibration on my new 2007 GC limited
The service manager said he placed a call to Chrysler factory District manager about the major Vibration and the shifting into over drive @ 60+ MPH
If you live in NEW JERSEY and are looking to BUY a new jeep...............
make sure you drive it on rt#80 60-80 mph, If its vibrates at the speed........
DON'T BUY OR LEASE IT. I HAVE BEE WAITING 3 WEEKS for the Chrysler district manager to set an appointment to see why my NEW JEEP GC 5.7 Hemi
VIBRATES 60-85 MPH
I am looking at an 08 JGC 5.7L with an MSRP of 42,070.
i am looking for a 24mth lease with 12k a year and $0 down.
the dealer quoted me the below information, can you tell me if this is a good deal and what areas can i look to achieve an even better rate. This was the dealer's first quote so I obviously think there should be alot of room....but please tell me where to go with it.
Payments $597.83 per month
this has a 0.00050 money factor and a residual value of 53%
it does not include license or sales usage tax.