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Dodge Journey and Jeep Cherokee Leasing Questions/Offers

kat127kat127 Posts: 1
edited August 2014 in Dodge

Hello,

So I am in need of a reliable vehicle and I have opted to lease at this time. I am interested in the 2014 Jeep Cherokee and 2014 Dodge Journey. I have visited several dealerships in my area and really want to be sure to get the best deal. I do have the employee discount through my sister and have received the following offers, please tell me what you think...

Dodge Journey R/T
MSRP - $28,995 (according to label)
Invoice Amount - $27200

36M Lease
Money Factor - .00010
Residual Value - 51%
12,000 miles annually
$0 Down
Monthly Payment - $251

24M Lease
Money Factor - .00040
Residual Value - 60%
12,000 miles annually
$0 Down
Monthly Payment - $270

*There is a column next to the invoice cost on my sheet they gave me that lists amount financed and it states $23950. I have an email out to the sales person but does anyone know what this is comprised of? They list the Vehicle price as 27200 but then amount financed states $23950?

2014 Jeep Cherokee
MSRP - 24,495
Invoice Amount $26319.00
Amount Financed - $25319.00

36M Lease
Money Factor - .00023
Residual Value - 52%
12,000 miles annually
$0 Down
Monthly Payment - $307

24M Lease
Money Factor - .00025
Residual Value - 62%
12,000 Miles Annually
$0 Down
Monthly Payment - $332

Thank you for any help you can offer? Does anything seem out of sorts? I have never leased before and I have been trying to educate myself.

Comments

  • kyfdxkyfdx Everywhere, USAPosts: 126,124

    @kat127 said:
    Hello,

    So I am in need of a reliable vehicle and I have opted to lease at this time. I am interested in the 2014 Jeep Cherokee and 2014 Dodge Journey. I have visited several dealerships in my area and really want to be sure to get the best deal. I do have the employee discount through my sister and have received the following offers, please tell me what you think...

    Dodge Journey R/T
    MSRP - $28,995 (according to label)
    Invoice Amount - $27200

    36M Lease
    Money Factor - .00010
    Residual Value - 51%
    12,000 miles annually
    $0 Down
    Monthly Payment - $251

    24M Lease
    Money Factor - .00040
    Residual Value - 60%
    12,000 miles annually
    $0 Down
    Monthly Payment - $270

    Those look like solid offers.

    *There is a column next to the invoice cost on my sheet they gave me that lists amount financed and it states $23950. I have an email out to the sales person but does anyone know what this is comprised of? They list the Vehicle price as 27200 but then amount financed states $23950?

    According to what you wrote above, $27,200 isn't the vehicle price, but the invoice price. This is nominally what the dealer pays Chrysler for the car. $23,950 amount financed is what you are actually paying for the car (including fees, etc)

    2014 Jeep Cherokee
    MSRP - 24,495
    Invoice Amount $26319.00
    Amount Financed - $25319.00

    Looks like a typo on your MSRP? Invoice shouldn't be higher than MSRP.

    36M Lease
    Money Factor - .00023
    Residual Value - 52%
    12,000 miles annually
    $0 Down
    Monthly Payment - $307

    24M Lease
    Money Factor - .00025
    Residual Value - 62%
    12,000 Miles Annually
    $0 Down
    Monthly Payment - $332

    Decent deals, but the Journey is obviously a lot cheaper.

    Thank you for any help you can offer? Does anything seem out of sorts? I have never leased before and I have been trying to educate myself.

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

    Edmunds Moderator

  • dknyc1dknyc1 Posts: 6
    I have lurked on here for years every time I go for a new car & just wanted to post what I think is a great deal I just got on a Journey:
    2015 Crossroad
    Quite loaded.
    Leather
    Nav
    Sunroof
    $0 down
    Only 1st month & DMV due at signing & tax in ea monthly payment - this is how I do all of my leases...
    $385 / month
    36 months
    12k miles / year
    So, on delivery I paid $750 total which was my $385 first month + DMV fees. When I went back a few weeks later to p/u my plates they gave me back DMV refund of $99.
  • MichaellMichaell ColoradoPosts: 117,604
    dknyc1 said:

    I have lurked on here for years every time I go for a new car & just wanted to post what I think is a great deal I just got on a Journey:
    2015 Crossroad
    Quite loaded.
    Leather
    Nav
    Sunroof
    $0 down
    Only 1st month & DMV due at signing & tax in ea monthly payment - this is how I do all of my leases...
    $385 / month
    36 months
    12k miles / year
    So, on delivery I paid $750 total which was my $385 first month + DMV fees. When I went back a few weeks later to p/u my plates they gave me back DMV refund of $99.

    congratulations - enjoy your new Journey!

    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

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