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2014 Jeep Grand Cherokee Lease Questions

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Comments

  • lepialepia Posts: 45
    edited October 2013
    All,
    I just want to share with you a lease deal I signed tonight. Hoping that those of you who are looking, are able to get a good deal. Before I let everyone know my findings, please know this website rocks!!!. It is an essential tool to negotiate intelligently the lease of a vehicle. -Thank you!!!

    Grand Cherokee Summit 2014
    MSRP:52,585

    Monthly lease: $655.00 a month. taxes included
    paid 1st month + 395.00 bank fee + DMV.
  • lepialepia Posts: 45
    thank you Xul,

    you helped me decide on my lease.
  • Wanted to get peoples' thoughts on the latest offer I received...

    2014 Jeep GC Overland Hemi 4x2 (MSRP 47,480):

    39 months, 15,000 miles/yr, $1,000 total out of pocket = $580/Month with tax

    They did not give me the residual/MF or cap cost on this latest deal, but it is a lot better. What does everyone think? Thanks!!
  • Thats a good deal. I would maybe try to save 1,000 on whats dues at signing. which dealership?
  • pfrancpfranc Posts: 1
    Xul can you PM me regarding this deal. I spoke to the dealership today and just had a question regarding the deal.
  • Can the residuals and money factors kindly be provided. 36 month lease, 10k miles. Thank you in advance.
  • kyfdxkyfdx Posts: 131,225
    .00017 MF and 57% residual..

    regards,
    kyfdx

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • jassiefreshjassiefresh Posts: 2
    edited October 2013
    limited 4x4

    3yr/15k per year

    lux package
    offroad adventure II
    nav
    added on side steps
    MSRP44,985
    Sale 45735
    cap red 1240.20

    wanted me to put down 3-4k for $632. Talked about maybe $550.

    MF .00017 res 54%
  • Thanks kyfdx. I was mistaken. It is actually a 39 month lease. Can you please provide.

    Thank you
  • Good deal?

    I'm currently getting offered the 2014 overland with navigation for $450 a month $5000 down.

    NYC, manhattan.

    Taxes and fees included
  • MichaellMichaell ColoradoPosts: 125,077
    MSRP? Selling price? Residual? Money factor? Length of lease?

    Many people will say that any cash down is a bad idea in a lease. $5000 over 36 months adds about $139 each month to your payment.

    If your car is stolen or totaled you are out that money.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • eddie8620eddie8620 Posts: 15
    edited October 2013
    39 months 10,000 miles a year

    The rest of the info I can call tomorrow and find out.

    This is the first time I'll be leasing, I don't want to get screwed
  • kyfdxkyfdx Posts: 131,225
    Subtract 2% from the residual for 39 months...

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • The sales man told me to check online for the information requested... P
  • MichaellMichaell ColoradoPosts: 125,077
    The only number I should think is available online is the MSRP. The residual and money factor you would have to get from the dealer .. or my partner, kyfdx.

    The negotiated sales price is something you'll have to get from the dealer.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • 52% residual / .00009 money factor

    The sale price I have to call tomorrow, the sales manager was gone for the day who wrote the deal up
  • Negotiated price of $46,428
  • jpw612jpw612 Posts: 6
    I'm looking to lease the following:

    2014 Jeep Grand Cherokee Limited
    Sunroof, Navigation, 20" wheels

    MSRP: $42,175, cap cost: $38,240
    $1,000 lease loyalty incentive
    10k/39mos
    .0017 money factor, $23,618 residual

    $449/mo including MA taxes (0 down + tax, reg fee, & 1st month at signing)

    Good deal?

    I get a monthly payment of $417/mo when I plug in the numbers in the Edmunds lease calculator. Not sure what is making up the difference.
  • kyfdxkyfdx Posts: 131,225
    When I subtract the $1000 loyalty cash from the CAP cost, I come up with about $452.mo.. so, it seems they are right there...

    regards,
    kyfdx

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • Thx kyfdx. What are the Mf's and Residuals on 36 and 39 with 12k miles?
    I cannot make my #'s and the dealers close. The residual % is taken off the MSRP only correct? Bank Fee and any incentives or agreed price are not considered?
  • kyfdxkyfdx Posts: 131,225
    2014 GC Laredo 4x4 36mo, 12K/yr lease
    .00017 MF and 56% residual.. Subtract 2% for 39 month lease

    Yes, residual is taken as a percentage of the bottom line on the Monroney sticker... no additions or subtractions...

    regards,
    kyfdx

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • andymsnandymsn Posts: 22
    kyfdx - I am a recent lurker on this forum and I want to thank you for all of the time you expend here to help us understand these issues.

    What is a "Monroney" sticker? Are you referring to MSRP?

    Might you have a brief thought on the following deal? Is Ally really offering a better deal than Chrysler Financial? It seems that Chrysler may be better at their promotional lease rates, but perhaps the dealer doesn't want to "sell" the car for a figure that makes that work?

    I have been negotiating on a 2014 GC Laredo 23E package, 18 in wheel/8.4 in Radio Group that has a sticker of $35,285 (including $995 destination charge).

    Here's an excerpt of an email from the dealership for the numbers I've been quoted:

    Ally leasing is the better program at this time. They use a rate instead of a money factor, and have a 2750 rebate available that is not otherwise available. It offsets the rate, and gives us lower payments than Chrysler Capital.

    MSRP 35,285.00

    Selling price 32,473.00
    Ally Lease rebate -2,750.00

    = 29,723.00 + tax, tags and processing

    Your Lease numbers with 0 down and 1st payment due at signing....

    24 months x 12k miles = 476 / month
    24 months x 15k miles = 489 / month

    36 months x 12k miles = 405 / month
    36 months x 15k miles = 423 / month

    The rate used for 24 months is 8.2. And the rate for 36 months is 6.55

    Residuals...

    24 mo x 12k = .69 x 35,285 = 24,346.65
    24 mo x 15k = .68 x 35,285 = 23,993.80

    36 mo x 12k = .62 x 35,285 = 21,876.70
    36 mo x 15k = .60 x 35,285 = 21,171.00
  • kyfdxkyfdx Posts: 131,225
    What is a "Monroney" sticker? Are you referring to MSRP?

    Yes..

    I don't have Ally rates.. In the end, all that matters is your money upfront and your payment, all other variables being equal..

    It's not unusual for other banks to be competitive on lease rates with either GM or Chrysler.... the bankruptcy caused a lot of changes with their captive finance companies, and the resulting structure has introduced some competition.

    regards,
    kyfdx

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • Hi guys, first time leasing so looking for some guidance. I got this quote today in LA, they said there is a little room to negotiate (was there for 15 minutes only)

    Any thoughts/insights are appreciated!

    Thanks!

    Cash sale price 43190

    Acquisition fee 505

    Vehicle total 43785

    Cap reduction 2214

    Adj cap cost 41570

    Term 39

    MF 0.00054 (told them I have excellent credit)

    Res factor 49%

    Driveoff 3500

    Monthly base 544.83
    Tax 49.03
    Monthly payment 593.66
  • kyfdxkyfdx Posts: 131,225
    Well.. we need the MSRP of the vehicle to really get down to details, but I can tell you right off that they are marking up the money factor the maximum allowed... The base MF for a RWD Overland is .00012, and it looks like they are taking the maximum .00042 markup...

    Is that a 39 month, 12K/yr lease? (guessing from the residual).. That's around $675 month, factoring in your upfront money... That's pretty rich territory for a Jeep lease.... I'm sure you could beat it by shopping around..

    regards,
    kyfdx

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • Thanks, good to know about the MF mark up. That's a huge difference! You can only lease through Chrysler financial, right?

    It seems that the MSRP is 44190, $3500 down at signing so there payments come to 593.86.

    Yes, 39 month, 12k ;ease.

    Thanks again!
  • kyfdxkyfdx Posts: 131,225
    Ally might have a lease program, but I doubt it's better than Chrysler Finance. Plus, the dealer would use it, if it gave a cheaper payment...

    I really have no idea what the market is like for the 2014 Grand Cherokee, but a $1000 discount and maximum money factor mark-up doesn't sound like a very good deal... Of course, if you were just in there for 15 minutes, they may have just been throwing out the top price, to see if it would fly..

    If you get a price that is $2000 lower, and the base money factor, that would knock an easy $80-$85/month off of your total payment... But, I don't know if that is a good deal.. Check out the Prices Paid discussion for the Grand Cherokee and see what people are paying....

    These are huge payments for a $44K vehicle... If you drop down to the RWD Limited, the residuals are 4% higher...

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • cmyk32cmyk32 Posts: 9
    Here's what I've been offered, I know I can get more off this price but don't know how much is reasonable/a good deal.

    3 years/36k miles
    MSRP - 48,380
    Price - 45,021
    Rebate - 1,000
    MF - .00009
    Residual - .52
    Acq fee - 595
    Gov't fee - 145
    Taxes in IL - 3,293
    Doc fee - 164.30

    Lease price - $646/month with all taxes and fees included w/ zero down, only 1st month's payment due at signing
  • Hi Carman,
    After driving the outlandish SRT, I'm strongly considering a lease since I love the gas mileage. :)

    Can you please let me know the RV and MF for a 24/10K lease?

    Cheers!
  • kyfdxkyfdx Posts: 131,225
    2014 JGC SRT8 24mo, 10K/yr lease
    .00046 MF and 56% residual

    Looks like you'll have a payment that will match your fuel bill.... ;-)

    regards,
    kyfdx

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • I am looking at the 2014 GC Limited to wrap up at the end of this month. Can you let me know what the money factor and residual are for 36 months / 15k miles per year?

    Thanks in advance.
  • kyfdxkyfdx Posts: 131,225
    2014 GC Limited 4WD (?) 36mth/15k
    .00017 MF and 54% residual.

    regards,
    kyfdx

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • mbl10mbl10 Posts: 2
    Hello All,

    I am new to this forum and would like to share a lease offer I received on a 2014 GC Limited 4x4 w/ the sunroof & 8.4N Radio/NAV option packages included. This lease is in New Jersey. Do you think this is a good deal?

    39 month / 15,000 per year w/ $0 down. No lease loyalty or rebates included.
    MSRP: $40,880
    Cap Cost: $39,163.00
    Sales Tax: $1,339.69 (7% in NJ)
    Gross Cap Cost: $40,502.69
    Residual: $21,257.60
    MF: .00039
    Monthly Payment: $517.55 includes tax
    Total due at signing: $1210.05
    Includes: 1st months pymt, Doc Fee ($289), DMV reg, title/lien fees ($396) & NJ tire tax (7.50).
  • insidecarbuyinsidecarbuy NYCPosts: 95
    Keep shopping…. With $1,210.05 total due at signing you should be at $457.00. You have another $60 per month you should be saving at least, if not $65-$70.
  • nyccarguynyccarguy Stamford, CTPosts: 13,475
    You get much more than a $1717 discont off sticker.

    2001 Prelude Type SH, 2017 Pilot Touring AWD, 2019 Tacoma TRD Sport 4WD

  • mbl10mbl10 Posts: 2
    Insidecarbuy,

    Thanks for your reply. How did you come up with $457.00? Are you calculating using a lower cap cost that can be negotiated?
  • ljnaumljnaum Posts: 3
    Im shopping for a GC Limited with lux group ii/Nav.
    24 month lease 12k miles per year
    MSRP $44,785

    $3000 down/ $395 per month

    I apologize I do not have more details to provide, it was a quick quote from the dealer and I will be going back to discuss more soon. Based off the info given, can I get a better deal?
  • insidecarbuyinsidecarbuy NYCPosts: 95
    Yes - lesser selling price, lesser fees and different bank. When leasing a Jeep you have the option on using 1 of 5 banks to hold the lease. They are all pretty competitive. But there is always 1 that is usually $12-$18 better per month than the rest.
  • jgavjgav Posts: 12
    I am considering a lease deal on a 2014 Grand Cherokee Overland Hemi and could use some opinions or suggestions from the community.
    My current lease, a Range Rover sport has 2 remaining payments of $889.00 before lease end. I am considering the Jeep and was offered this deal from a dealership in N.Y.. I am curious to hear what people think, Is it Good, Bad or Ugly?
    A 2014 Overland Without the tech package. 36 mos, 15K miles per year. I would pay tax, title and fees upfront totaling aprox $4,000. I believe the Msrp of the vehicle was $50,800. With this lease the dealership would pay the remaining two payments of the range rover totaling aprox $1800. I would still be responsible to turn in the RR to the dealership myself to incur any damages overage in miles etc. The monthly payment quoted was $635.00. per mos.
    I should note that the reason I am considering this is because the Range Rover is aprox 1200 miles past the alloted mileage for the lease term and although there are only 2 payments left on the truck I am not scheduled to return it until the end of January. I am also concerned that I would be unlucky for the brakes or some other unforseen item to go on the truck requiring a hefty cost right before i return it.
    Any help or suggestions would be greatly appreciated. Thank you in advance.
  • Again kyfdx, thank you! Always appreciated. I need clarification. I see others on this forum including the destination charge in the MSRP when figuring the residuals. I may have confused Bank Fee and Destination Fee in my initial question and did not word properly. I will include the destination fee in my residual calculations…..right?

    What confused me is that when negotiating with the dealer I was told of a $995 bank fee which coincidently is the same as the $995 destination charge. I checked my current Jeep lease documents with Hann Financial and my BMW lease with BMWFS and neither have any up front bank fees. Is this charge legit? According to the dealer my proposed GC lease is with Chrysler Financial.
  • kyfdxkyfdx Posts: 131,225
    Right.. the destination is part of the total MSRP, and that is what the residual is based on....

    I'm sure your other leases had bank fees, they were just rolled into the payment....

    $995 bank fee is either marked up a lot for extra profit, or it's being run through a bank like Hann or USBank, instead of Chrysler Finance... That seems excessive...

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • kyfdxkyfdx Posts: 131,225
    Part of the benefit of trading out of a lease early, is to not have to deal with those lease-end issues... All this dealer is doing is giving you cash to cover your last two payments, which surely is raising the cost of the new lease.. And, you still have to worry about what charges you might incur.

    Plus, even if you pay off a lease early, they may not accept your early turn-in. If they won't, you'll have to keep it insured, etc..

    I understand the trepidation of having a high-maintenance vehicle nearing it's lease end... but, I think you are giving away more money by jumping into a new vehicle that you could possibly save by ending your lease early.

    regards,
    kyfdx

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • jgavjgav Posts: 12
    seems like a great deal. can i ask where you are located?
  • bja104bja104 Posts: 26
    Kyfdx, do you have November lease rates and money factor for the following?

    2014 Grand Cherokee Limited 4x4, 36 (and 39) month lease, 15k miles per year, Chicago metropolitan area.

    Thank you.
  • kyfdxkyfdx Posts: 131,225
    2014 Grand Cherokee Limited 4x4 39mo, 15K/yr lease
    .00028 MF and 51% residual

    The 36 month residual is also 51%, interestingly enough..

    The Grand Cherokee acquisition fee is only $295, this month.

    regards,
    kyfdx

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • elliemaejelliemaej Posts: 58
    edited November 2013
    Hi,
    Can I get the MF and Residual for a 2014 GC Limited with 10k/12k miles for 24 and 36 months in New Haven County, Connecticut. It has been many years since I have leased with Chrysler, anything I need to know? I see on this forum that there are other "banks" that the dealers can work with?
    Also, I am used to leasing with Ford, any differences I need to know? Taxes, ets?

    Thanks in advance.

    Ellen
  • kyfdxkyfdx Posts: 131,225
    2014 Grand Cherokee Limited 4x4 39mo, 12K/yr lease
    .00028 MF and 53% residual

    The 36 month residual is also 53%, interestingly enough.. 24 month programs are not that good.

    The Grand Cherokee acquisition fee is only $295, this month.

    The dealer will use whatever bank gives the lowest payment for given parameters.... This program is pretty aggressive.. I'd be surprised if any other bank would come close to the 39 month program.

    As far as differences between leasing Chrysler or Ford? None that I know of..

    regards,
    kyfdx

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • deevedeeve Posts: 87
    edited November 2013
    Hello kyfdx
    I am trying to figure the MF and Residual on a 36/39 month lease comparing 15k/12 year on a 2014 Grand Cherokee 4x4 Limited with the 3.6, tow package and LuxuryGroup II and 20" Wheels. The deal will be in Oregon. Incidentally, the salesman told me a lease will be 700-800 a month today, so I think he may have been confused.

    Thanks!
    Dave
  • deevedeeve Posts: 87
    Would those numbers change for an Overland?
  • kyfdxkyfdx Posts: 131,225
    The numbers you asked for are in the post just above yours.... Subtract 2% from the residuals to go from 12K/yr to 15K/yr..

    regards,
    kyfdx

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

This discussion has been closed.