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2014 Jeep Grand Cherokee Lease Questions

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  • kyfdxkyfdx Posts: 72,502

    2014 GC Overland 4WD 36mo, 10K/yr lease
    .00013 MF and 50% residual... The 39 month residual is also 50%
    I don't show that engine choice or options make any difference, other than 4WD/RWD and trim line.

    regards,
    kyfdx

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  • smetzlersmetzler Posts: 23
    edited December 2013

    I'm looking at leasing a 2014 Grande Cherokee Limited and was looking for feedback on the deal. Any guidance would be greatly appreciated.

    • MSRP - $38,790 (includes destination charge of $995)
    • Capitalized Cost Reduction (what they took off the MSRP and they really don't want to budge) - $1,461
    • Adjusted capitalized cost - $37,329
    • Lease inception amount ($1,200 that includes first payment, taxes, etc.)
    • 39 months (I know I'll be paying more)
    • Residual Value - $20,559
    • Money Factor - .00070 (or 1.68%)
    • 12,000 miles per year
    • Cost after 12,000 miles - .25 cent
    • I live in Columbus, OH so sales tax is 7%
    • Gap Insurance Included
    • No Disposal (Disposition) fee
    • Close End Lease
    • Monthly payment with tax - $497
    • I am not trading any car in
    • The are providing free oil change and tire rotation for the three years. My concern here is what other normal maintenance needs to be done in three years / 36,000 that I need to pay for.
    • I am think about putting $2,000 down but no sure if that is a good idea or not.

    Thank you for any assistance and your time.

    Shawn

  • amirjamirj Posts: 8

    Hello,
    I am shopping for Summit 4x4 with the DVD player….I am getting run arounds from the dealers in my area (DC/MD/VA) can you please confirm the MF, residual and rebates on the GC summit. I am looking to lease for the following terms: 10K/yr miles 27/36/39 months residuals and MF. Dealers are playing games showing me different finance companies information and jacking up mark up on MF…..I believe that Chrysler capital is the best way to lease this truck but dealers seems to be claiming that Chrysler Capital have better rates but they are not combinable with the lease rebates. Can you please confirm if that's the case…Thanks for your help in advance.

    AJ

  • amirjamirj Posts: 8

    In my area (DC/MD/VA) there are two rebates conquest $1000 & lease bonus cash $3250…..Good Luck!

  • kyfdxkyfdx Posts: 72,502

    @amirj said:
    Hello,
    I am shopping for Summit 4x4 with the DVD player….I am getting run arounds from the dealers in my area (DC/MD/VA) can you please confirm the MF, residual and rebates on the GC summit. I am looking to lease for the following terms: 10K/yr miles 27/36/39 months residuals and MF. Dealers are playing games showing me different finance companies information and jacking up mark up on MF…..I believe that Chrysler capital is the best way to lease this truck but dealers seems to be claiming that Chrysler Capital have better rates but they are not combinable with the lease rebates. Can you please confirm if that's the case…Thanks for your help in advance.

    AJ

    2014 GC Summit 4WD 39mo, 10K/yr lease

    .00024 MF and 46% residual. 36mo residual is 48%.

    27 month: .00043 MF and 58% residual.

    I'm sorry, but I don't have the answer to your rebate question.

    regards,
    kyfdx

    MODERATOR

    Prices Paid, Lease Questions, SUVs

  • smetzlersmetzler Posts: 23
    edited December 2013

    I'm looking at leasing a 2014 Grande Cherokee Limited and was looking for feedback on the deal. Any guidance would be greatly appreciated.

    • MSRP - $38,790 (includes destination charge of $995)
    • Capitalized Cost Reduction (what they took off the MSRP) - $1,461
    • Adjusted capitalized cost - $37,329 (they said this is $95 over invoice)
    • Lease inception amount ($1,200 that includes first payment, taxes, etc.)
    • 39 months
    • Residual Value - $20,559
    • Money Factor - .00070 (or 1.68%)
    • 12,000 miles per year (cost after 12,000 miles - .25 cent)
    • Sales tax is 7%
    • Gap Insurance Included
    • Disposal (Disposition) fee of $395
    • Close End Lease
    • Monthly payment with tax - $504
    • I am not trading any car in
    • They are providing free oil change and tire rotation for the two years, theft protection (entire lease) and dent repair (entire lease)
    • I am think about putting $2,000 down but no probably wont since the total after 39 months is going to be about the same with either option.

    Thank you.

    Shawn

  • amirjamirj Posts: 8

    Thank You…..Much appreciated.

    Happy Holidays!

  • pb007pb007 Posts: 15

    Hi KYFDX & everyone else....

    I am looking to lease a 2014 Jeep GC Limited 4x4 for 36 months & 12k miles.

    Options: Luxury Package II & 20" wheels.

    Can you provide me with the current residual for this vehicle & money factor for top tier credit?

    Looking to pull the trigger this week so if anyone can help, I would be very appreciative...

    Also, I have a MSRP of $44,585 / Invoice of $42,377 / TrueCar price of $39,877.

    Do those numbers look correct?

    Merry Christmas!

  • jaakejaake Posts: 1

    2014 Jeep GC Summit 4x4 for 36 months & 12K miles
    current residual & money factor?

  • kyfdxkyfdx Posts: 72,502

    @pb007 said:
    Hi KYFDX & everyone else....

    I am looking to lease a 2014 Jeep GC Limited 4x4 for 36 months & 12k miles.

    Options: Luxury Package II & 20" wheels.

    Can you provide me with the current residual for this vehicle & money factor for top tier credit?

    Looking to pull the trigger this week so if anyone can help, I would be very appreciative...

    Also, I have a MSRP of $44,585 / Invoice of $42,377 / TrueCar price of $39,877.

    Do those numbers look correct?

    Merry Christmas!

    2014 GC Limited 4WD 36mo, 12K/yr lease
    .00028 MF and 53% residual.

    The 39 month term has the same residual, so that is the way I would go..

    kyfdx

    MODERATOR

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  • kyfdxkyfdx Posts: 72,502

    @jaake said:
    2014 Jeep GC Summit 4x4 for 36 months & 12K miles
    current residual & money factor?

    .00024 MF and 47% residual

    kyfdx

    MODERATOR

    Prices Paid, Lease Questions, SUVs

  • @kyfdx@Edmunds said:
    2014 Jeep Cherokee Limited FWD 39mo, 15K/yr lease
    .00037 MF and 50% residual
    $ZERO acquisition fee on this model and term for this month through Chrysler Capital.

    regards,
    kyfdx

    Hi Kyfdx,

    Is this true only for the model & term? I'm curious if there's something similar or some other incentive available for the Overland 4x4.

    Thanks!

  • kyfdxkyfdx Posts: 72,502

    The Overland and Summit residuals are much lower... resulting in a much higher payment.. The Laredo and Limited trims are the better deals.

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  • I was given a lease price of 2,500 down, $469 a month for 39 months for a 2014 Jeep Grand Cherokee Limited with sunroof and premium NAV. Sticker price of 41,080. I am in NJ, can someone tell me if this is a good deal. I have gone to two dealers and this is the best price I got, not sure if I should keep trying or take the deal. The car is in stock.

  • Is this a decent deal? (Charlotte, NC region). Thanks in advance:

    Year Make Model Style
    2014 Jeep Grand Cherokee 2WD 4d Wagon Limited

    MSRP from inventory screen = 40975.00
    Amount that can be residualized = 40975.00
    Enhanced Residual = 50.00
    Anticipated Mileage = 12000
    Low Mileage Adjustment = 2.00
    Residual % = 52.00
    Adjusted Residual = 21307.00

    Capitalized Costs:
    Selling Price = 37923.16

    Tax on Cap Cost Red = 0.00

    Title and Registration = 69.00
    License Fee = 0.00
    Doc Fee = 699.99
    Acquisition Fee = 595.00
    Total = 39287.15

    Due on Signing:
    Cap Cost Reduction:
    Cash Down = 0.00
    Net Trade = 0.00

    Lease Cash / Rebate = 0.00

    Fees:
    Payment X 1 = 497.33
    Security Deposit X 1 = 0.00

    Total = 497.33

    Payment Calculation
    Adjusted Cap Cost Residual = 39287.15
    Plus Residual = 21307.00
    = 60594.15
    X Money Factor = 0.000360
    Monthly Rent Charge = 21.81

    Adjusted Cap Cost Residual = 39287.15
    Less Residual = 21307.00
    = 17980.15
    / Term = 39
    Monthly Depreciation Charge = 461.03
    Base Payment = 482.84
    Sales Tax on Payment = 14.49

    Max Adj. Cap Cost
    MSRP = 40975.00
    X = 115%
    + Doc Fee = 699.99
    + Acquisition Fee = 595.00
    + Title & Reg. = 69.00
    Max Adjusted Cap Cost = 48485.24

    Lease End High Mileage Charge = 0.25

  • @kem5882 said:

    Got them to get the price down to $471 per month on the above, taking another $1,000 off.

  • @kyfdx@Edmunds said:
    The Overland and Summit residuals are much lower... resulting in a much higher payment.. The Laredo and Limited trims are the better deals.

    Sorry, I was referring specifically to this part:

    $ZERO acquisition fee on this model and term for this month through Chrysler Capital.

    Does that exist on Overland? Or is that $595 still there.

  • kyfdxkyfdx Posts: 72,502

    The $ZERO acquisition fee was on Cherokees, not Grand Cherokees... The $595 is still there.

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  • pb007pb007 Posts: 15

    Thanks kyfdx. Your information & timely responses are invaluable...

    Any comment on the $400 UConnect fee that I see on the sticker for a car equipped with the UConnect 8.4 system? My understanding is this was included in the Luxury II package?

    I have a MSRP of $44585 but all the vehicle inventory I see at local dealers list it at $44985 because of this extra $400.

    Last question - I know there will be a documentation fee, but should I expect an acquisition fee as well?

  • Hi, kyfdx
    Happy holiday

    May I know the numbers for

    2014 GC Laredo 4x4 + 23E
    24MTH, 10k/y

    thanks

    @kyfdx@Edmunds said:
    2014 Jeep Grand Cherokee Laredo 4x2 36mo, 12K/yr lease
    .00024 MF and 54% residual
    Add 1% for 10K/yr

    regards,
    kyfdx

  • kyfdxkyfdx Posts: 72,502

    @pb007 said:
    Thanks kyfdx. Your information & timely responses are invaluable...

    Any comment on the $400 UConnect fee that I see on the sticker for a car equipped with the UConnect 8.4 system? My understanding is this was included in the Luxury II package?

    I have a MSRP of $44585 but all the vehicle inventory I see at local dealers list it at $44985 because of this extra $400.

    Last question - I know there will be a documentation fee, but should I expect an acquisition fee as well?

    Sorry.. I'm not familiar with UConnect.

    All leases have an acquisition fee from the bank, unless their is some special program to waive it. Document fees are garbage fees added by dealers. Sometimes, the maximum amount is regulated by the state, and in other places they are just obscenely high. I always find out the fee before negotiating, so that I can subtract it from whatever offer I might consider making.

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  • kyfdxkyfdx Posts: 72,502

    @simeonyu said:
    Hi, kyfdx
    Happy holiday

    May I know the numbers for

    2014 GC Laredo 4x4 + 23E
    24MTH, 10k/y

    thanks

    2014 GC Laredo 4WD 27mo, 10K/yr lease

    .00033 MF and 65% residual.

    Quoted the 27 month lease, as the 24 month lease isn't subsidized for this model.

    kyfdx

    MODERATOR

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  • Hi. I've never leased a vehicle before but am interested in leasing the 2014 Jeep Cherokee Limited. I'm in the process of finding a dealer who had the specifications/color I'd like.

    What are the current residuals and money factors for a 36/39 month lease at both 12k and 15k miles?

    Do you know the Chrysler credit cutoffs for Tier 1 credit? I applied online and it showed approved for up to $79k but didn't give me a Tier or rating.

    Also, are there any special incentives, rebates, etc. that I should know to ask for?

    Thanks in advance for your help!

  • maxlevmaxlev Posts: 63

    Hey guys-

    Just wanted to report back on my lease experience. I did this for my relative so I don't have the final papers in front of me.

    I got a '14 Grand Cherokee Limited 4x4 with sunroof and the 8.4" screen + CD player. MSRP was $41075 give or take a few bucks.

    Residual and money factor were as reported above on the contract.

    Acquisition fee was $0 (savings of $595). Conquest credit (competitive lease) was $1000.

    Not sure if my dealer was aggressive or they saw that I wasn't messing around but their initial offer was $470 +tax for 39 month /15k per year lease. This represented a $37,000ish "selling price" which was below TrueCar.com pricing so I knew I was in a good range.

    With a bit more negotiation (there's many competitive dealers in my area and it was end of month end of year) I was able to push them to $450+ tax. This equates to a selling price below $36000.

    I was very happy with this deal and I think that if anyone pounces on it before year end, you should be able to do similar.

    Also, I was extremely impressed with the Grand Cherokee. Knew nothing about it going into it but WOWOWOWOWOW! Beautiful look. Amazing drive. Go get one while they are cheap!

  • kyfdxkyfdx Posts: 72,502

    @tsmith870 said:
    Hi. I've never leased a vehicle before but am interested in leasing the 2014 Jeep Cherokee Limited. I'm in the process of finding a dealer who had the specifications/color I'd like.

    What are the current residuals and money factors for a 36/39 month lease at both 12k and 15k miles?

    Do you know the Chrysler credit cutoffs for Tier 1 credit? I applied online and it showed approved for up to $79k but didn't give me a Tier or rating.

    Also, are there any special incentives, rebates, etc. that I should know to ask for?

    Thanks in advance for your help!

    2014 Jeep Cherokee (not Grand, right?) 4WD Limited 39mo, 15K/yr lease

    .00023 MF and 51% residual. 36mo residual is 52%. Add 2% for 12K/yr lease

    $ZERO acquisition fee on this model.

    I don't know the cutoffs for Tier 1, but you have to drop to Tier 3 before it makes a difference on the lease numbers.

    kyfdx

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  • Thank you so much kyfdx! So the only change in moving term from 39 to 36 or moving mileage from 15000 to 12000 is in residual value? No change in money factor? This information is extremely helpful!

  • kyfdxkyfdx Posts: 72,502

    That's correct. Chrysler Finance has the same money factor for 36 and 39 month leases.

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  • One last question - do the residual value and/or money factor change if leasing a 4x2 instead of 4x4?

  • kyfdxkyfdx Posts: 72,502

    Generally, yes.. .the numbers are different... Usually worse for RWD..

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  • msp5msp5 Posts: 4

    Hi everyone. I have a 39 month lease deal on the table and need some help in determining if it's a good deal. 2014 JGC limited 4x4 with sunroof and nav. 389 including tax with 2500 down. Thoughts?

This discussion has been closed.