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2014 Jeep Grand Cherokee Lease Questions

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Comments

  • MichaellMichaell ColoradoPosts: 94,226
    Carcar987 said:

    Yes, 0 out of pocket signing. I would pay up front first month of lease and then 35 more payments of $440.

    my guess is that the cap cost of $37,500 isn't the "net" cap cost. Ask the dealer what that number is, and have them explain in detail how they got to that number.

    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

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • beatriceflybeatricefly Posts: 2
    edited February 2015
    Greetings

    I have a quote here. It seems high to me. I'm in New York.

    2015 Jeep Grand Cherokee Limited 4X4 with sunroof

    10k miles 
    MSRP 42,030
    selling price 37,500 roughly
    residual 57%
    interest is 2.75% (but they didn't run my credit yet)

    I'm getting quoted $531/month with taxes i believe

    Meanwhile my BMW coupe was 42000 selling price and I paid 550/month 

    thanks





  • MichaellMichaell ColoradoPosts: 94,226

    Greetings

    I have a quote here. It seems high to me. I'm in New York.

    2015 Jeep Grand Cherokee Limited 4X4 with sunroof

    10k miles 
    MSRP 42,030
    selling price 37,500 roughly
    residual 57%
    interest is 2.75% (but they didn't run my credit yet)

    I'm getting quoted $531/month with taxes i believe

    Meanwhile my BMW coupe was 42000 selling price and I paid 550/month 

    thanks





    Using the numbers provided, I'm showing $446.87/mo pre-tax.

    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

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Thanks Michaell

    They actually called me back with a 495$/month deal with tax
  • ucjjgucjjg Posts: 28
    Do you have the latest residual value and APR/money factor for a Jeep Cherokee Overland at 36mo./15,000 miles. Thanks!
  • MichaellMichaell ColoradoPosts: 94,226
    ucjjg said:

    Do you have the latest residual value and APR/money factor for a Jeep Cherokee Overland at 36mo./15,000 miles. Thanks!

    4x4?

    .00017 and 53%

    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

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Would you mind sharing the latest MF/residual on a Grand Cherokee Overland 4x4 at 36/10k?
  • kyfdxkyfdx Posts: 104,425
    edited February 2015
    hypemnd1 said:

    Would you mind sharing the latest MF/residual on a Grand Cherokee Overland 4x4 at 36/10k?

    2015 model?
    .00017 MF and 56% residual

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

    Edmunds Moderator

  • ajb79ajb79 Posts: 1
    thank you in advance for all the help you give.

    I need some info on the following please.

    2015 grand cherokee limited 4x4 with lux 2
    44,340 msrp
    36/12k lease 
    looking for mf and residual so I can figure out the rest for my deal.

  • kyfdxkyfdx Posts: 104,425
    ajb79 said:

    thank you in advance for all the help you give.

    I need some info on the following please.

    2015 grand cherokee limited 4x4 with lux 2
    44,340 msrp
    36/12k lease 
    looking for mf and residual so I can figure out the rest for my deal.


    .00012 MF and 56% residual

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

    Edmunds Moderator

  • twinlabstwinlabs Posts: 34
    lease/money factor for 2014 Grand Cherokee Limited 4 X 4?

    36 month
    15k miles
  • twinlabstwinlabs Posts: 34
    i meant to say residual/money factor....sorry
  • MichaellMichaell ColoradoPosts: 94,226
    twinlabs said:

    lease/money factor for 2014 Grand Cherokee Limited 4 X 4?

    36 month
    15k miles

    .00012 and 54%

    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

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • twinlabstwinlabs Posts: 34
    for a 2014?
  • MichaellMichaell ColoradoPosts: 94,226
    twinlabs said:

    for a 2014?

    Oops .. didn't see that part.

    :blush:

    Take two - standard MF (around .00200 or so) and 43%

    You're better off with a 2015 ....

    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

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • usnausna Posts: 10
    Hi All,
    On a Lease Quote I received the interest is quoted as below
    TermI 36 Ratek 0.00056
    What the person told me is this relates to just 3 times interest. i.e. 1.68%.
    But based on the Monthly numbers I received the interest comes much higher. Can someone help me how this "Ratek 0.00056" translates to interest or APR?
    Thanks
  • MichaellMichaell ColoradoPosts: 94,226
    usna said:

    Hi All,
    On a Lease Quote I received the interest is quoted as below
    TermI 36 Ratek 0.00056
    What the person told me is this relates to just 3 times interest. i.e. 1.68%.
    But based on the Monthly numbers I received the interest comes much higher. Can someone help me how this "Ratek 0.00056" translates to interest or APR?
    Thanks

    .00056 is the money factor; to convert to an (approximate) interest rate, multiply by 2400 - 1.344%

    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

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • usnausna Posts: 10
    Thank you for the quick response.

    Then looks like there are some other fees rolled into which I am not able to understand. Sale Price 35254, MSRP 38655. In CA.
    5K Down. Residual 55% (21260.35). Monthly Base 327.22, Monthly Tax 26.18, Monthly Payment 353.46.

    Out of about 14000 cost for 3 years I am already making 5000 down. So the rest amount financed is only 9000. But the total payments (base without tax) comes to 35 * 327.22 = 11452.7. Could you please help me what else could be included in this. The difference is approximately 2450. Interest amount for 3 years at 1.344% should come only close to $300.
  • MichaellMichaell ColoradoPosts: 94,226
    usna said:

    Thank you for the quick response.

    Then looks like there are some other fees rolled into which I am not able to understand. Sale Price 35254, MSRP 38655. In CA.
    5K Down. Residual 55% (21260.35). Monthly Base 327.22, Monthly Tax 26.18, Monthly Payment 353.46.

    Out of about 14000 cost for 3 years I am already making 5000 down. So the rest amount financed is only 9000. But the total payments (base without tax) comes to 35 * 327.22 = 11452.7. Could you please help me what else could be included in this. The difference is approximately 2450. Interest amount for 3 years at 1.344% should come only close to $300.

    Your interest calculations are incorrect. Lease interest is the money factor multiplied by the sum of the cap cost and the residual factor, charged monthly. The tax amount of $26.18 is multiplied by the number of payments (36) for a total "rent charge" of $942.48.

    And yes, there may be other fees being added to the cost - ask the dealer what the "net cap cost" is and, if it is different than the sale price, ask the dealer what has been added.

    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

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • flightnurseflightnurse Valley of HellPosts: 2,172
    usna said:

    Thank you for the quick response.

    Then looks like there are some other fees rolled into which I am not able to understand. Sale Price 35254, MSRP 38655. In CA.
    5K Down. Residual 55% (21260.35). Monthly Base 327.22, Monthly Tax 26.18, Monthly Payment 353.46.

    Out of about 14000 cost for 3 years I am already making 5000 down. So the rest amount financed is only 9000. But the total payments (base without tax) comes to 35 * 327.22 = 11452.7. Could you please help me what else could be included in this. The difference is approximately 2450. Interest amount for 3 years at 1.344% should come only close to $300.

    NEVER put money down on a lease, NEVER... IF you are putting that kind of money down to lower the payments, it's not the best use of your money..
  • usnausna Posts: 10
    Thank you for the help.

    So in lease interest even if we put money down that will not reduce the interest? Since "Lease interest is the money factor multiplied by the sum of the cap cost and the residual factor, charged monthly". I understand from this forum help now that it is not good to put money down for lease because of the risk.

    If you could clarify on if the money down will not have any effect on interest. Thanks.
  • kyfdxkyfdx Posts: 104,425
    usna said:

    Thank you for the help.

    So in lease interest even if we put money down that will not reduce the interest? Since "Lease interest is the money factor multiplied by the sum of the cap cost and the residual factor, charged monthly". I understand from this forum help now that it is not good to put money down for lease because of the risk.

    If you could clarify on if the money down will not have any effect on interest. Thanks.

    Money down will result in less interest... but, it's minimal. Especially with Chrysler Capital leases, since the money factor is so low.. An extra $1000 down might save you 15 cents/month in interest..

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

    Edmunds Moderator

  • apiakaapiaka Posts: 1
    Hello there,

    I am looking to lease a 2015 GC limited 4x4 with luxury II package in WI.

    Actual Price : $45255
    Sale Price : $40000

    What would be the monthly lease payment with $0 down for 12k/36 or 39 months?
  • kyfdxkyfdx Posts: 104,425
    apiaka said:

    Hello there,

    I am looking to lease a 2015 GC limited 4x4 with luxury II package in WI.

    Actual Price : $45255
    Sale Price : $40000

    What would be the monthly lease payment with $0 down for 12k/36 or 39 months?


    .00012 MF and 56% for 36mo, 12K/yr

    $415.mo.+tax.

    Due at signing: 1st payment, acquisition fee, title/license/doc fees

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

    Edmunds Moderator

  • I have a Truecar quote for a 2015 Jeep Grand Cherokee limited w/ a Lux II package. 
    I'm new to leasing a car and trying to do my due diligence.  
    I wanted to know if I can use this quote to negotiate a lease. I am guessing yes but do know it's for a purchase. 
    I am looking for a 36 month 12k/month lease $0 down 

    MSRP: $44,160 
    Truecar price with admin and doc fees: $39,420
    NJ tax is 7% 

    - what should I expect my monthly lease price be
    - is Truecar useful ?
    - can I use a quote off Truecar to negotiate this
    - when going in the dealer with the Truecar quote should i negotiate more as a purchase first and then say I want to lease

    Thank you for all the help and hopefully I am not asking questions too dumb.
  • MichaellMichaell ColoradoPosts: 94,226
    robmack07 said:

    I have a Truecar quote for a 2015 Jeep Grand Cherokee limited w/ a Lux II package. 
    I'm new to leasing a car and trying to do my due diligence.  
    I wanted to know if I can use this quote to negotiate a lease. I am guessing yes but do know it's for a purchase. 
    I am looking for a 36 month 12k/month lease $0 down 

    MSRP: $44,160 
    Truecar price with admin and doc fees: $39,420
    NJ tax is 7% 

    - what should I expect my monthly lease price be
    - is Truecar useful ?
    - can I use a quote off Truecar to negotiate this
    - when going in the dealer with the Truecar quote should i negotiate more as a purchase first and then say I want to lease

    Thank you for all the help and hopefully I am not asking questions too dumb.

    The lease numbers for the Limited 4x4 are .00012 and 56% for 36/12.

    With your MSRP and selling price, I get a pre-tax payment of $384.37.

    Can't help you with any of the Truecar based questions, but when leasing you want to negotiate the best price possible as if you were purchasing.

    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

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Michaell. You are awesome thank you. 

    And the .00012 # is the interest according to Chrysler financial so I should make sure they are using them to compare apples to apples. 
    And
    The residual of 56% is Standard across the board or can that number differ based on if Chrysler financial is used or other some  circumstances ?

    teying to understand the whole process. Thanks! 

  • MichaellMichaell ColoradoPosts: 94,226
    robmack07 said:

    Michaell. You are awesome thank you. 

    And the .00012 # is the interest according to Chrysler financial so I should make sure they are using them to compare apples to apples. 
    And
    The residual of 56% is Standard across the board or can that number differ based on if Chrysler financial is used or other some  circumstances ?

    teying to understand the whole process. Thanks! 

    The .00012 is the base MF, which is what you should politely insist the dealer use.

    The residual is set by the bank and cannot be modified by the dealer. Different banks, however, have different numbers.

    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

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

This discussion has been closed.