2015 Jeep Grand Cherokee Lease Questions

gcg0315

Hi Michaell,

I am curious as to your thoughts on why leasing a vehicle with 20k per year may not be a good idea? I was always under the assumption that you lease things that depreciate and buy things that appreciate.

Given the number of miles I drive per year I figured purchasing a new vehicle made even less sense than taking a high mileage lease.

Michaell

gcg0315 said:

Hi Michaell, I am curious as to your thoughts on why leasing a vehicle with 20k per year may not be a good idea? I was always under the assumption that you lease things that depreciate and buy things that appreciate. Given the number of miles I drive per year I figured purchasing a new vehicle made even less sense than taking a high mileage lease.

In general I agree with your statement about leasing versus buying. But at 20,000 miles per year the depreciation would be really massive. Might almost be better to buy and hold. And maybe a nearly new used car where some of the depreciation has been taken by the previous owner. 

bryankloos

Need Lease Advice:

2015 Jeep GC Overland
MSRP 47290
3000 at inception
52% Residual
3year/15K
$511/month including tax

I'm told there is 4250 in rebates for a non Chrysler lease...

Is this a good deal?

dallas79malibu

Hi - Looking for current money factor and residual for 2015 Limited and Altitude 4x4 Grand Cherokees. 36 month 15k mile lease in St. Louis, MO. How often do these rates change?Thank you in advance! Any tips on lease negotiation is much appreciated!! - Dallas

kyfdx

dallas79malibu said:

Hi - Looking for current money factor and residual for 2015 Limited and Altitude 4x4 Grand Cherokees. 36 month 15k mile lease in St. Louis, MO. How often do these rates change?Thank you in advance! Any tips on lease negotiation is much appreciated!! - Dallas

Limited: .00012 MF and 54% residual
Altitude: .00018 MF and 55% residual

Chrysler Capital comes out with a new program on a monthly basis. That doesn't mean the numbers always change, though.

dennisnyc40

Here are the 2 lease deals I received from Dealer. Undecided whether to go for the 12K or 15k. Which one seems like the better deal.

Michaell

dennisnyc40 said:

Here are the 2 lease deals I received from Dealer. Undecided whether to go for the 12K or 15k. Which one seems like the better deal.

Same cap cost, same MF - it's really a question of how many miles you think you'll need each year.

dennisnyc40

Thanks Michaell that's what I need to decide. I Think I made a pretty good deal 1500 under invoice and another 1500 in rebates. ? Should be picking up Saturday:) Thanks very much for your help.

dallas79malibu

kyfdx said:

dallas79malibu said:

Hi - Looking for current money factor and residual for 2015 Limited and Altitude 4x4 Grand Cherokees. 36 month 15k mile lease in St. Louis, MO. How often do these rates change?Thank you in advance! Any tips on lease negotiation is much appreciated!! - Dallas

Limited: .00012 MF and 54% residual
Altitude: .00018 MF and 55% residual

Chrysler Capital comes out with a new program on a monthly basis. That doesn't mean the numbers always change, though.

Thanks so much! How do those numbers compare historically, now a good time to move forward?

nrk84

kyfdx said:

muffinman21 said:

kydfx or Michaell

2014 4x4 MF and % for 36/15m:
Altitude
Limited
Overland

Thanks great info here!

Altitude: .00018 MF and 55% residual
Limited: .00012 MF and 54% residual
Overland: .00017 MF and 53% residual

Could you confirm that this is for 2014? I've been to several dealership that keep saying that can't lease 2014's anymore

kyfdx

dallas79malibu said:

kyfdx said:

dallas79malibu said:

Hi - Looking for current money factor and residual for 2015 Limited and Altitude 4x4 Grand Cherokees. 36 month 15k mile lease in St. Louis, MO. How often do these rates change?Thank you in advance! Any tips on lease negotiation is much appreciated!! - Dallas

Limited: .00012 MF and 54% residual
Altitude: .00018 MF and 55% residual

Chrysler Capital comes out with a new program on a monthly basis. That doesn't mean the numbers always change, though.

Thanks so much! How do those numbers compare historically, now a good time to move forward?

There really is no historical trend..

kyfdx

nrk84 said:

kyfdx said:

muffinman21 said:

kydfx or Michaell

2014 4x4 MF and % for 36/15m:
Altitude
Limited
Overland

Thanks great info here!

Altitude: .00018 MF and 55% residual
Limited: .00012 MF and 54% residual
Overland: .00017 MF and 53% residual

Could you confirm that this is for 2014? I've been to several dealership that keep saying that can't lease 2014's anymore

I'm sorry, those are 2015 model numbers (ergo, the title of this discussion).

Your dealer is correct.. no more 2014 model leases

bryankloos

Hi guys,
I just heard back from my dealer with this lease offer:

3year/15K
2015 Jeep GC Overland with V6 and no Advanced Tech Group
MSRP - $47290
Selling Price - $44522
MF - 00105
Residual - 51%
$3000 at inception
Comes out to $511/month including tax.

Does this seem right? Two other dealers in the area are telling me its a bunch of BS.
My guy says he farms out the lease to a non Chrysler Bank and gets $4250 in rebates.
The other dealers have me coming in at $580-600/month...

Michaell

bryankloos said:

Hi guys,
I just heard back from my dealer with this lease offer:

3year/15K
2015 Jeep GC Overland with V6 and no Advanced Tech Group
MSRP - $47290
Selling Price - $44522
MF - 00105
Residual - 51%
$3000 at inception
Comes out to $511/month including tax.

Does this seem right? Two other dealers in the area are telling me its a bunch of BS.
My guy says he farms out the lease to a non Chrysler Bank and gets $4250 in rebates.
The other dealers have me coming in at $580-600/month...

I get $638.85/mo before tax with your numbers - how much of the $3K is going to cap cost reduction?

The MF seems high as well ... base MF for the Overland is .00017. You sure this is through Chrysler Financial?

bryankloos

Its not through Chrysler Financial... From what I'm told.
Here are the specs from the tentative lease agreement:
36m, 15K
MSRP 47290
MF 00105
Res 51% - 24117.9
Selling Price 44305.5
Cash Cap Reduction 1658.03
Rebates 4250
Total Cap Reduction 5908.03
Adjusted cap cost 39090.47
Capped Fees 695
Total tax 1504.4
Lic/Reg - 95
Up Front fees - 332
Cash Collected - 3000 at inception
Base Monthly - 482.27
Monthly Payment - 512

Michaell

bryankloos said:

Its not through Chrysler Financial... From what I'm told.
Here are the specs from the tentative lease agreement:
36m, 15K
MSRP 47290
MF 00105
Res 51% - 24117.9
Selling Price 44305.5
Cash Cap Reduction 1658.03
Rebates 4250
Total Cap Reduction 5908.03
Adjusted cap cost 39090.47
Capped Fees 695
Total tax 1504.4
Lic/Reg - 95
Up Front fees - 332
Cash Collected - 3000 at inception
Base Monthly - 482.27
Monthly Payment - 512

With that information, my numbers work out the same as yours.

bryankloos

Seems like a good deal, right. All other local offers had me paying $100 more/month with a higher residual.  I think it's the extra rebates and reduction in cap that helps me here. I wonder why the other dealers wouldn't extend the same or similar offer???

mofsta

mofsta said:

Michaell said:

mofsta said:

Michaell said:

mofsta said:

Hello Michaell, great blog ! lots of helpful info. Was wondering if you could evaluate this offer for me. I originally negotiated a purchase price of $36,400, but have now decided to look at my lease options. Here is what they came back with.
2015 Jeep GC Altitude 23z
R.I.
Cap Cost - $36,605 / $1,000 rebate for having a lease
12k miles per year 36 months
residual value 57% $22,293
money factor .0006
No acq. fee
$339 mo incudes tax ,
$4,734 due at signing

Thanks for your help !
AJ

I agree with the 57% residual, but the base MF is .00018. Jeep dealers can mark up the MF by .00042 - do the math.

What is the breakdown of the $4700 due at signing? If any of it is for cap cost reduction, we don't recommend that. If the car is stolen or totaled, you are out that money.

Thanks ! Ok the $4734 is a $4k down payment ($3k trade +$1k cash) , $220 doc fee, $175 registration , and first months payment.

So I can push back on the .0006 ?

Yes push back on the MF. 

We do not recommend using trade equity or cash as a down payment. If the car is stolen or totaled you lose that money. 

great thanks for the info !!

Hi Michaell, I pushed back on the .0006 MF. I was told that those are the numbers based on them using 3 different lease sources, Ally financial, Hann, and Chrysler, and that they all have different money factors and incentives.I could get a better money factor but less incentives. Does this sound correct ? Thanks, AJ

mofsta

mofsta said:

Michaell said:

mofsta said:

Michaell said:

mofsta said:

Hello Michaell, great blog ! lots of helpful info. Was wondering if you could evaluate this offer for me. I originally negotiated a purchase price of $36,400, but have now decided to look at my lease options. Here is what they came back with.
2015 Jeep GC Altitude 23z
R.I.
Cap Cost - $36,605 / $1,000 rebate for having a lease
12k miles per year 36 months
residual value 57% $22,293
money factor .0006
No acq. fee
$339 mo incudes tax ,
$4,734 due at signing

Thanks for your help !
AJ

I agree with the 57% residual, but the base MF is .00018. Jeep dealers can mark up the MF by .00042 - do the math.

What is the breakdown of the $4700 due at signing? If any of it is for cap cost reduction, we don't recommend that. If the car is stolen or totaled, you are out that money.

Thanks ! Ok the $4734 is a $4k down payment ($3k trade +$1k cash) , $220 doc fee, $175 registration , and first months payment.

So I can push back on the .0006 ?

Yes push back on the MF. 

We do not recommend using trade equity or cash as a down payment. If the car is stolen or totaled you lose that money. 

great thanks for the info !!

Hi Michaell, I pushed back on the .0006 MF. I was told that those are the numbers based on them using 3 different lease sources, Ally financial, Hann, and Chrysler, and that they all have different money factors and incentives.I could get a better money factor but less incentives. Does this sound correct ? Thanks, AJ

njspartan

HI! Great Forum, just joined as there is so much info available!

Couple of questions.

Anyone have the res and MF for the following at 36/10 in NJ

Limited w/ V8 & Diesel
Overland w/V8 & Diesel
Summit w/ V8 & Diesel

It appears that there is no lease rates available online for any version with V8, not sure if it is the same as the V6.

TIA!

Michaell

bryankloos said:

Seems like a good deal, right. All other local offers had me paying $100 more/month with a higher residual.  I think it's the extra rebates and reduction in cap that helps me here. I wonder why the other dealers wouldn't extend the same or similar offer???

If you're comfortable with the selling price, no reason not to pull the trigger.

Michaell

mofsta said:

mofsta said:

Michaell said:

mofsta said:

Michaell said:

mofsta said:

Hello Michaell, great blog ! lots of helpful info. Was wondering if you could evaluate this offer for me. I originally negotiated a purchase price of $36,400, but have now decided to look at my lease options. Here is what they came back with.
2015 Jeep GC Altitude 23z
R.I.
Cap Cost - $36,605 / $1,000 rebate for having a lease
12k miles per year 36 months
residual value 57% $22,293
money factor .0006
No acq. fee
$339 mo incudes tax ,
$4,734 due at signing

Thanks for your help !
AJ

I agree with the 57% residual, but the base MF is .00018. Jeep dealers can mark up the MF by .00042 - do the math.

What is the breakdown of the $4700 due at signing? If any of it is for cap cost reduction, we don't recommend that. If the car is stolen or totaled, you are out that money.

Thanks ! Ok the $4734 is a $4k down payment ($3k trade +$1k cash) , $220 doc fee, $175 registration , and first months payment.

So I can push back on the .0006 ?

Yes push back on the MF. 

We do not recommend using trade equity or cash as a down payment. If the car is stolen or totaled you lose that money. 

great thanks for the info !!

Hi Michaell, I pushed back on the .0006 MF. I was told that those are the numbers based on them using 3 different lease sources, Ally financial, Hann, and Chrysler, and that they all have different money factors and incentives.I could get a better money factor but less incentives. Does this sound correct ? Thanks, AJ

We only have numbers for Chrysler. Yes, different banks have different residuals, MF and incentives.

Michaell

njspartan said:

HI! Great Forum, just joined as there is so much info available!

Couple of questions.

Anyone have the res and MF for the following at 36/10 in NJ

Limited w/ V8 & Diesel
Overland w/V8 & Diesel
Summit w/ V8 & Diesel

It appears that there is no lease rates available online for any version with V8, not sure if it is the same as the V6.

TIA!

V6 and V8 numbers are the same for each trim level; diesel numbers are different. I assume 4x4?

Limited Gas - .00012 and 57%
Limited Diesel - .00012 and 59%

Overland Gas - .00017 and 56%
Overland Diesel - .00017 and 58%

Summit Gas - .00058 and 54%
Summiet Diesel - .00058 and 56%

persik1

Hi,
could you list MF / RV for GC Limited 4x2 in California (Los Angeles) for
36m x 12000 and 36m x 15000 miles

Thank you!

Michaell

persik1 said:

Hi,
could you list MF / RV for GC Limited 4x2 in California (Los Angeles) for
36m x 12000 and 36m x 15000 miles

Thank you!

36/15 - .00017 and 53%

Add 2% for 12K

ajpbf7

Hello. Could you post rate and residual for altitude and limited;4x2 & 4x4? 10k per year, 24 and 36 month term please. As always, thanks very much for your help.

kyfdx

ajpbf7 said:

Hello. Could you post rate and residual for altitude and limited;4x2 & 4x4? 10k per year, 24 and 36 month term please. As always, thanks very much for your help.

Altitude 4X4: .00014 MF and 67%, .00018 MF and 58%
Altitude 4X2: .00033 MF and 66%. .00011 MF and 56%
Limited 4X4: .00031 MF and 67%. .00012 MF and 57%
Limited 4X2: .00009 MF and 66%. .00017 MF and 56%

davewolfs

Picked up a 4x2 overland for 41k. Made first month payment and that was it.

I worked out the MF and it seems like they charged us around 0.0003 above the standard 0.00017 MF. Is this reasonable considering no other fees were involved?

davewolfs

So taking a another look. The doc fees were added to cap cost (600) plus the additional MF which adds up to being an extra $700. 

Thoughts?

Michaell

davewolfs said:

So taking a another look. The doc fees were added to cap cost (600) plus the additional MF which adds up to being an extra $700. 

Thoughts?

davewolfs said:

Picked up a 4x2 overland for 41k. Made first month payment and that was it. I worked out the MF and it seems like they charged us around 0.0003 above the standard 0.00017 MF. Is this reasonable considering no other fees were involved?

It's an OK deal ... generally, we want folks to get the base MF with no inflation.

Adding the fees to the cap cost is a matter of personal preference.

davewolfs

The only part that bothers me is that I specifically asked if the money factor and residual were set by them or CF and was told its all CF which is obviously not true.

andymsn

Hi - Can you please post the MF and residual for a somewhat unusual JGC: 2015 GC Laredo E 4x4 w All-Weather, 18 inch wheel & 8.4 inch radio group, trailer tow group IV, security/convenience & power sunroof. According to the sticker, it MSRPs for $41,520.00.

I'm considering asking for either a 2yr/24k or 3/yr 45k, if that matters?

There is just a wealth of information here, thanks to you! Thank you very much!

Michaell

davewolfs said:

The only part that bothers me is that I specifically asked if the money factor and residual were set by them or CF and was told its all CF which is obviously not true.

The base MF is set by CF; the dealer chose to inflate it. So, I suppose a partial truth.

Michaell

andymsn said:

Hi - Can you please post the MF and residual for a somewhat unusual JGC: 2015 GC Laredo E 4x4 w All-Weather, 18 inch wheel & 8.4 inch radio group, trailer tow group IV, security/convenience & power sunroof. According to the sticker, it MSRPs for $41,520.00.

I'm considering asking for either a 2yr/24k or 3/yr 45k, if that matters?

There is just a wealth of information here, thanks to you! Thank you very much!

24/12 - .00014 and 66%

36/15 - .00018 and 55%

divisionbell77

Ok, so locked down on price for an Altitude with the options I want.

MSRP is 40,480
Negotiate price is 36,900

I want to make sure my math is not all messed up before I walk in there to test drive and possibly sign.

Look at 0 down, pay taxes, title, and doc fee(got all other fees removed) up front, plus the $595 acquisition fee.

What should monthly and buy out look like for 10k, 36 month lease?

Michaell

divisionbell77 said:

Ok, so locked down on price for an Altitude with the options I want.

MSRP is 40,480
Negotiate price is 36,900

I want to make sure my math is not all messed up before I walk in there to test drive and possibly sign.

Look at 0 down, pay taxes, title, and doc fee(got all other fees removed) up front, plus the $595 acquisition fee.

What should monthly and buy out look like for 10k, 36 month lease?

36/10 numbers on the Altitude 4x4 are .00018 and 58%. With your MSRP and negotiated selling price, I get a pre-tax payment of $383.69.

dallas79malibu

What are the numbers for a 24/15k lease on a 4x4 limited? Thank you in advance!

kyfdx

dallas79malibu said:

What are the numbers for a 24/15k lease on a 4x4 limited? Thank you in advance!

.00031 MF and 65% residual

aserpik

Can I get the numbers for a 2015 Laredo 2x4 for 36/15k and 24/15k (in los angeles). What would be considered a good price I can lease this for with the 23E and 8.5 inch/ display options

kyfdx

aserpik said:

Can I get the numbers for a 2015 Laredo 2x4 for 36/15k and 24/15k (in los angeles). What would be considered a good price I can lease this for with the 23E and 8.5 inch/ display options

.00011 MF and 53% residual
.00033 MF and 64% residual

smartin104

Michaell said:

njspartan said:

HI! Great Forum, just joined as there is so much info available!

Couple of questions.

Anyone have the res and MF for the following at 36/10 in NJ

Limited w/ V8 & Diesel
Overland w/V8 & Diesel
Summit w/ V8 & Diesel

It appears that there is no lease rates available online for any version with V8, not sure if it is the same as the V6.

TIA!

V6 and V8 numbers are the same for each trim level; diesel numbers are different. I assume 4x4?

Limited Gas - .00012 and 57%
Limited Diesel - .00012 and 59%

Overland Gas - .00017 and 56%
Overland Diesel - .00017 and 58%

Summit Gas - .00058 and 54%
Summiet Diesel - .00058 and 56%

this is helpful..but could you add the Laredo 4x4 for 36/12 and 36/15?

kyfdx

smartin104 said:

Michaell said:

njspartan said:

HI! Great Forum, just joined as there is so much info available!

Couple of questions.

Anyone have the res and MF for the following at 36/10 in NJ

Limited w/ V8 & Diesel
Overland w/V8 & Diesel
Summit w/ V8 & Diesel

It appears that there is no lease rates available online for any version with V8, not sure if it is the same as the V6.

TIA!

V6 and V8 numbers are the same for each trim level; diesel numbers are different. I assume 4x4?

Limited Gas - .00012 and 57%
Limited Diesel - .00012 and 59%

Overland Gas - .00017 and 56%
Overland Diesel - .00017 and 58%

Summit Gas - .00058 and 54%
Summiet Diesel - .00058 and 56%

this is helpful..but could you add the Laredo 4x4 for 36/12 and 36/15?

.00018 MF and 57%/55% residual

dallas79malibu

Just left the Jeep dealership and had a question I hope you can help me with. We are looking at a 2015 Limited 4x4 for a 3yr 15k lease. I brought in the #'s quoted on the forum for Chrysler Capital (.00012 and a residual of 54%) but they said that it was one or the other, but not both. Does that sound right??

Michaell

dallas79malibu said:

Just left the Jeep dealership and had a question I hope you can help me with. We are looking at a 2015 Limited 4x4 for a 3yr 15k lease. I brought in the #'s quoted on the forum for Chrysler Capital (.00012 and a residual of 54%) but they said that it was one or the other, but not both. Does that sound right??

Nope. Dealer cannot modify the residual - that is set by the bank. They can, however, mark up the MF for extra profit. Explain to them, politely but firmly, that you won't sign any deal with an inflated MF.

If they refuse to cooperate, find another dealer. It only takes one to make the deal you are looking for.

dallas79malibu

Michaell said:

dallas79malibu said:

Just left the Jeep dealership and had a question I hope you can help me with. We are looking at a 2015 Limited 4x4 for a 3yr 15k lease. I brought in the #'s quoted on the forum for Chrysler Capital (.00012 and a residual of 54%) but they said that it was one or the other, but not both. Does that sound right??

Nope. Dealer cannot modify the residual - that is set by the bank. They can, however, mark up the MF for extra profit. Explain to them, politely but firmly, that you won't sign any deal with an inflated MF.

If they refuse to cooperate, find another dealer. It only takes one to make the deal you are looking for.

Thanks so much! That's what I thought as well but wanted to double check. The dealer was really pushing an Ally Bank offer instead of Chrysler Cap. The Ally deal had a $3k discount but the #'s just didn't work out, the MF must have been really high. Negotiated price of $34,995 with discount and residual of 60% but the monthly payments were $520 for 36 months. Seemed high to me.

Michaell

dallas79malibu said:

Michaell said:

dallas79malibu said:

Just left the Jeep dealership and had a question I hope you can help me with. We are looking at a 2015 Limited 4x4 for a 3yr 15k lease. I brought in the #'s quoted on the forum for Chrysler Capital (.00012 and a residual of 54%) but they said that it was one or the other, but not both. Does that sound right??

Nope. Dealer cannot modify the residual - that is set by the bank. They can, however, mark up the MF for extra profit. Explain to them, politely but firmly, that you won't sign any deal with an inflated MF.

If they refuse to cooperate, find another dealer. It only takes one to make the deal you are looking for.

Thanks so much! That's what I thought as well but wanted to double check. The dealer was really pushing an Ally Bank offer instead of Chrysler Cap. The Ally deal had a $3k discount but the #'s just didn't work out, the MF must have been really high. Negotiated price of $34,995 with discount and residual of 60% but the monthly payments were $520 for 36 months. Seemed high to me.

I don't have the Ally numbers to confirm, but that sounds about right - higher MF but offset by some sort of rebate or incentive. Remember to negotiate your best selling price before applying that incentive.

davewolfs

Marking up the MF does it really matter? I mean if you get the car for a crappy price but don't pay a marked up MF what's the difference?

Michaell

davewolfs said:

Marking up the MF does it really matter? I mean if you get the car for a crappy price but don't pay a marked up MF what's the difference?

Nobody should pay for an inflated MF ... it's the same thing as qualifying for 1.9% financing but the dealer is charging you 2.5% because ... they can.

kidcurty

Can I get the MF and residual on 2015 Altitude 4x2 and 4x4 15k lease 36 months in Orange County CA. Does anyone know how far below invoice people are going on this car? thank you

kyfdx

kidcurty said:

Can I get the MF and residual on 2015 Altitude 4x2 and 4x4 15k lease 36 months in Orange County CA. Does anyone know how far below invoice people are going on this car? thank you

4X2: .00011 MF and 53% residual
4X4: .00018 MF and 55% residual