Dodge Journey and Jeep Cherokee Leasing Questions/Offers

kat127

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.

kyfdx

@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.

dknyc1

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.

Michaell

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!