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2013 and earlier Jeep Grand Cherokee Lease Questions

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Comments

  • kefalonian1kefalonian1 Posts: 1
    edited March 2012
    2012 JEEP GRAND CHEROKEE LAREDO 4X4Base Price: $ 28,995
    Customer Preferred Package 24X $5300
    5.7-Liter V8 VVT Engine with Fuel Saver $1695
    Laredo E group $2000
    Power Single-Pane Sunroof $ 850
    Media Center 430N SAT/CD/DVD/MP3 $395
    DESTINATION CHARGE $ 825
    TOTAL PRICE:* $ MRSP 40,060

    Quote dealer gave me was
    $7500 down payment (using trade in car)
    300 per month for 36 months

    Is this good deal? To me seems like high down payment. I tried to start off talking about coming up with an agreed purchase price of car and then figure out the rest but dealer just talked about down payment and monthly payment numbers only.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi webicons. The lease rate that you were quoted looks good. The truck that you are interested in has a spread of around $2,200 between its full MSRP and its dealer invoice price. There's a $1,500 cash incentive available on it on top of that, giving you a total of around $3,700 to play with in your negotiations. From the looks of it, you're probably at around $1,000 over invoice. If you're in an area that has a decent level of competition, I would not be surprised if you were able to do better than that, but it's not like this is a horrendous deal.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I certainly can bgchar. Ally's March buy rate lease money factor and residual value for a 36-month lease of a 2012 Jeep Grand Cherokee Limited 4WD with 15,000 miles per year are 0.55% and 47%, respectively.

    The numbers for an otherwise identical lease of a 2012 Grand Cherokee Laredo X 4WD are 0.4% and 50%.

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

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here you go dman123. Ally's March base lease rate and residual value for a 36-month lease of a 2012 Jeep Grand Cherokee Laredo X 2WD with 15,000 miles per year are 0.6% and 49%.

    Jeep is currently providing a $1,500 cash incentive on leases of this truck.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Car_man,
    I'm a first time lease guy, don't know much about leases. Could you please help run the numbers form me so I can have an educated idea of what to look for when i visit the dealer.

    MSRP $31,900.00
    Lease term 36 months
    up front money $2500.00 plus TTR
    do not know what my buy out is..... can you figure that out?

    Again any help you can give to a newbie would be great. Thank you... Jerry
  • Car_man,

    In your opinion, how would a FICO score of 670 affect getting a lease for a 2012 JGC ?

    I'm assumming it is easier to get approved for a lease vs a bank loan for a new or used car.

    Your thoughts ?
  • simikesimike Posts: 1
    Hey All,

    Been looking at the Grand Laredo X package with nav dual sunroof and leather,

    I got a quote today in NJ for

    2500 due at sign covering fees etc,
    12k 36 months at 350 + tax per mon
    residual is 52 mf is 0001

    Thoughts? I think its ok
    Also any input on if the ride control selector is worthwhile, i plan on occasionally running on the beach with it.
  • rad484rad484 Posts: 17
    I think that's a good deal and about the same as the one I secured in November. One consideration to make. The MF being .0001 essentially means you're at 0% interest. You're better off rolling the 2500 into the payments. Yes the payments will be higher but there's no reason to hand them 2500 upfront. You'd probably be looking at around 420+tax instead.
  • teddyboyteddyboy Posts: 1
    edited April 2012
    2012 Jeep GC Laredo 4x4 Base: $28,995
    Customer Preferred package 26x: $5,300
    Laredo E Group: $2,000
    Panoramic SR: $1,195
    Nav: $395
    Dest charge: $925

    MSRP: $38,810

    Lease Deal offered:
    $429/ month
    36 months
    20K residual value
    12K miles/year
    $2800 due at signing (includes tax, title, etc)

    Any feedback would be appreciated! Making the move this weekend.
  • pm22pm22 Posts: 2
    You noted that th3 $2800 includes tax, title, etc. If you don't mind my asking, where are you located and what is the tax. I ask because I think that is a decent deal, but where I am (Illinois) the the lease includes taxes on the full negotiated price of the vehicle.
  • 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: 7,468
    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: 7,468
    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: 7,468
    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.