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2015 Jeep Grand Cherokee Lease Questions

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    calvinjccalvinjc Member Posts: 15
    edited July 2015
    Hi, I am looking at getting a lease on a 2015 Jeep Grand Cherokee (4 x 2) in Atlanta, GA where the sales tax is approx. 4%. Zipcode: 30318

    Not sure what residual is. But Negotiated price is 35,432. My credit score is in the 700s, so i think i should get a pretty good rate/MF (whatever that may be). I would love for my payment to be under or as close to $400 as possible. I could put $2,000 down, but i'd rather not...so if I did/didn't, what do you think?

    I've been using MF of .0002, residual at 55% & 57%. Can you tell me what my payment would be and some advice to get it lower or closer to $400. Also, is this already a good deal? Any help is greatly appreciated! Thanks.

    LASTLY, DOES CHRYSLER CAPITOL HAVE ANY INCENTIVES THIS MONTH? THANKS.
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    kyfdxkyfdx Moderator Posts: 241,674
    calvinjc said:

    Hi, I am looking at getting a lease on a 2015 Jeep Grand Cherokee (4 x 2) in Atlanta, GA where the sales tax is approx. 4%. Zipcode: 30318

    Not sure what residual is. But Negotiated price is 35,432. My credit score is in the 700s, so i think i should get a pretty good rate/MF (whatever that may be). I would love for my payment to be under or as close to $400 as possible. I could put $2,000 down, but i'd rather not...so if I did/didn't, what do you think?

    I've been using MF of .0002, residual at 55% & 57%. Can you tell me what my payment would be and some advice to get it lower or closer to $400. Also, is this already a good deal? Any help is greatly appreciated! Thanks.

    LASTLY, DOES CHRYSLER CAPITOL HAVE ANY INCENTIVES THIS MONTH? THANKS.

    .00035 MF and 47% residual for 36mo, 15K/yr.

    We don't have the CCAP incentive information.

    I'm pretty sure sales tax is a lot higher than 4% in Atlanta.. Also, in GA, you pay tax on the full selling price of the vehicle, not the lease payment (that's a lot of tax).

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    MichaellMichaell Moderator Posts: 244,268
    kyfdx said:
    Hi, I am looking at getting a lease on a 2015 Jeep Grand Cherokee (4 x 2) in Atlanta, GA where the sales tax is approx. 4%. Zipcode: 30318 Not sure what residual is. But Negotiated price is 35,432. My credit score is in the 700s, so i think i should get a pretty good rate/MF (whatever that may be). I would love for my payment to be under or as close to $400 as possible. I could put $2,000 down, but i'd rather not...so if I did/didn't, what do you think? I've been using MF of .0002, residual at 55% & 57%. Can you tell me what my payment would be and some advice to get it lower or closer to $400. Also, is this already a good deal? Any help is greatly appreciated! Thanks. LASTLY, DOES CHRYSLER CAPITOL HAVE ANY INCENTIVES THIS MONTH? THANKS.
    .00035 MF and 47% residual for 36mo, 15K/yr. We don't have the CCAP incentive information. I'm pretty sure sales tax is a lot higher than 4% in Atlanta.. Also, in GA, you pay tax on the full selling price of the vehicle, not the lease payment (that's a lot of tax).
     I believe the tax on the lease in Georgia is 6.25% 

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    calvinjccalvinjc Member Posts: 15
    edited July 2015
    Michaell said:


    kyfdx said:

    calvinjc said:

    Hi, I am looking at getting a lease on a 2015 Jeep Grand Cherokee (4 x 2) in Atlanta, GA where the sales tax is approx. 4%. Zipcode: 30318

    Not sure what residual is. But Negotiated price is 35,432. My credit score is in the 700s, so i think i should get a pretty good rate/MF (whatever that may be). I would love for my payment to be under or as close to $400 as possible. I could put $2,000 down, but i'd rather not...so if I did/didn't, what do you think?

    I've been using MF of .0002, residual at 55% & 57%. Can you tell me what my payment would be and some advice to get it lower or closer to $400. Also, is this already a good deal? Any help is greatly appreciated! Thanks.

    LASTLY, DOES CHRYSLER CAPITOL HAVE ANY INCENTIVES THIS MONTH? THANKS.

    .00035 MF and 47% residual for 36mo, 15K/yr.

    We don't have the CCAP incentive information.

    I'm pretty sure sales tax is a lot higher than 4% in Atlanta.. Also, in GA, you pay tax on the full selling price of the vehicle, not the lease payment (that's a lot of tax).

     

    Hey thanks a bunch for the reply. Okay, so I went back to the dealer today.

    MSRP: $38,830
    Negotiated Price:$34,830
    Residual: $19,026
    MF: .00077
    Term: 36 months/12,000 per year
    Taxes: 7% ($2,439)

    The dealer came up with a monthly price of $574 if I finance my taxes. If I pay the $2,439 in taxes, my monthly price is $517.


    Does this sound like a good deal and do these numbers make sense? Negotiated price sounds good (I think). I'd really like to get my payment as close to $400 as possible. Any recommendations?
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    MichaellMichaell Moderator Posts: 244,268
    calvinjc said:

    Michaell said:


    kyfdx said:

    calvinjc said:

    Hi, I am looking at getting a lease on a 2015 Jeep Grand Cherokee (4 x 2) in Atlanta, GA where the sales tax is approx. 4%. Zipcode: 30318

    Not sure what residual is. But Negotiated price is 35,432. My credit score is in the 700s, so i think i should get a pretty good rate/MF (whatever that may be). I would love for my payment to be under or as close to $400 as possible. I could put $2,000 down, but i'd rather not...so if I did/didn't, what do you think?

    I've been using MF of .0002, residual at 55% & 57%. Can you tell me what my payment would be and some advice to get it lower or closer to $400. Also, is this already a good deal? Any help is greatly appreciated! Thanks.

    LASTLY, DOES CHRYSLER CAPITOL HAVE ANY INCENTIVES THIS MONTH? THANKS.

    .00035 MF and 47% residual for 36mo, 15K/yr.

    We don't have the CCAP incentive information.

    I'm pretty sure sales tax is a lot higher than 4% in Atlanta.. Also, in GA, you pay tax on the full selling price of the vehicle, not the lease payment (that's a lot of tax).

     
    Hey thanks a bunch for the reply. Okay, so I went back to the dealer today.

    MSRP: $38,830
    Negotiated Price:$34,830
    Residual: $19,026
    MF: .00077
    Term: 36 months/12,000 per year
    Taxes: 7% ($2,439)

    The dealer came up with a monthly price of $574 if I finance my taxes. If I pay the $2,439 in taxes, my monthly price is $517.


    Does this sound like a good deal and do these numbers make sense? Negotiated price sounds good (I think). I'd really like to get my payment as close to $400 as possible. Any recommendations?

    With your numbers, I get $480.45/mo before tax.

    In order to get your payments to $400/mo, in Georgia, you'll want to lease a car with a much better residual than the Cherokee ... and, perhaps one that isn't as expensive, given the need to pay tax on the entire selling price.

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    calvinjccalvinjc Member Posts: 15
    Thanks for your reply. I was just looking for something in the 400's. So stupid question: If I pay the taxes on the entire vehicle upfront (the 7% = $2,491), do I have to pay 7% again on my monthly payments? I noticed you said "before tax", but I thought i was already paying the taxes upfront. I got $480 as well, but if i multiply the $480 by the 7% (tax) again, I get the $514-ish. Just trying to see where that number came from. Thanks again.
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    MichaellMichaell Moderator Posts: 244,268
    calvinjc said:

    Thanks for your reply. I was just looking for something in the 400's. So stupid question: If I pay the taxes on the entire vehicle upfront (the 7% = $2,491), do I have to pay 7% again on my monthly payments? I noticed you said "before tax", but I thought i was already paying the taxes upfront. I got $480 as well, but if i multiply the $480 by the 7% (tax) again, I get the $514-ish. Just trying to see where that number came from. Thanks again.

    Sorry, I wasn't clear about that. If you pay the taxes up front, the monthly payment is not taxed again.

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    drunuggetdrunugget Member Posts: 2
    I'm trying to determine if I have room to negotiate on this lease:
    Net cap $36,858
    MF .00013
    Residual 50%
    WI sales tax 5.6%
    Due on delivery $1080.39 (incl 1st mo payment)
    Monthly payment $478.59 with tax

    Thoughts?
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    kyfdxkyfdx Moderator Posts: 241,674
    drunugget said:

    I'm trying to determine if I have room to negotiate on this lease:
    Net cap $36,858
    MF .00013
    Residual 50%
    WI sales tax 5.6%
    Due on delivery $1080.39 (incl 1st mo payment)
    Monthly payment $478.59 with tax

    Thoughts?

    What is the MSRP?

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    drunuggetdrunugget Member Posts: 2
    $41625

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    kyfdxkyfdx Moderator Posts: 241,674
    drunugget said:

    $41625

    I get $453/mo.+tax.. so, the only way to get less, is to negotiate a lower selling price, to bring the CAP cost down.

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    aliciasbaliciasb Member Posts: 2
    edited November 2015
    I need some help with my numbers as well. I am shopping in southern ca for a 2015 Jeep Grand Cherokee altitude. Here is one dealers quote: MSRP 38830.00
    money factor  0.00068
    Selling price 35495.00
    residual .47
    2500.00 rebate
    2500 cash down

    448.02 a month.
    monthly payment includes tax.

    is this a reasonable deal? What is the current money factor and residual for southern ca from banks on jeep altitudes. I have had dealers say they use alley banks as well but believe this dealer uses Chrysler. They try and say because it's an "altitude model" they can't negotiate msrp beyond factory rebates. Also my credit score is in the mid 700's.

    I need advice :-) 
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    kyfdxkyfdx Moderator Posts: 241,674
    aliciasb said:

    I need some help with my numbers as well. I am shopping in southern ca for a 2015 Jeep Grand Cherokee altitude. Here is one dealers quote: MSRP 38830.00
    money factor  0.00068
    Selling price 35495.00
    residual .47
    2500.00 rebate
    2500 cash down

    448.02 a month.
    monthly payment includes tax.

    is this a reasonable deal? What is the current money factor and residual for southern ca from banks on jeep altitudes. I have had dealers say they use alley banks as well but believe this dealer uses Chrysler. They try and say because it's an "altitude model" they can't negotiate msrp beyond factory rebates. Also my credit score is in the mid 700's.

    I need advice :-) 

    What is the term/mileage of the lease?

    Either way, the thing about not negotiating price is BS.

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    aliciasbaliciasb Member Posts: 2
    36 months, 12,000 mike per year 
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    kyfdxkyfdx Moderator Posts: 241,674
    aliciasb said:

    I need some help with my numbers as well. I am shopping in southern ca for a 2015 Jeep Grand Cherokee altitude. Here is one dealers quote: MSRP 38830.00
    money factor  0.00068
    Selling price 35495.00
    residual .47
    2500.00 rebate
    2500 cash down

    448.02 a month.
    monthly payment includes tax.

    is this a reasonable deal? What is the current money factor and residual for southern ca from banks on jeep altitudes. I have had dealers say they use alley banks as well but believe this dealer uses Chrysler. They try and say because it's an "altitude model" they can't negotiate msrp beyond factory rebates. Also my credit score is in the mid 700's.

    I need advice :-) 

    aliciasb said:

    36 months, 12,000 mike per year 

    .00028 MF and 47% residual. Acquisition fee waived.

    So.. the MF is marked up.

    If $3500 of the rebate and money down go to CAP cost reduction, I get a payment of $416/mo.+tax, which is pretty close (using your money factor).

    Using the base MF, the payment drops by $20/mo.+tax.

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    markm217markm217 Member Posts: 6
    In nj msrp are about 39-40, true car has them selling for 34-35. Real interested in a lease but not sure about the numbers and what to aim for. Any help o appreciate. Thanks.
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    kyfdxkyfdx Moderator Posts: 241,674
    markm217 said:

    In nj msrp are about 39-40, true car has them selling for 34-35. Real interested in a lease but not sure about the numbers and what to aim for. Any help o appreciate. Thanks.

    Term and mileage? 4X4?

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    markm217markm217 Member Posts: 6
     Term would be 36 months, and don't need many miles. My car I'm in now has 18000 over three years
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    markm217markm217 Member Posts: 6
    4x4
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    kyfdxkyfdx Moderator Posts: 241,674
    markm217 said:

    In nj msrp are about 39-40, true car has them selling for 34-35. Real interested in a lease but not sure about the numbers and what to aim for. Any help o appreciate. Thanks.

    markm217 said:

     Term would be 36 months, and don't need many miles. My car I'm in now has 18000 over three years

    markm217 said:

    4x4

    2015 Altitude

    .00002 MF and 49% residual for 36/10.

    $40K MSRP, $35K CAP cost would result in a payment of $429/mo.+tax

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    markm217markm217 Member Posts: 6
    Kyfdx, have about 6 grand in equity o. My vehicle, one dealer offers 410 a month with 3 grand down and a check for 3 back and 325 payments with my full 6 grand down. The other offers 499 with nothing down and ended up getting him to 410 with 3 grand down...
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    mfankhausermfankhauser Member Posts: 2
    Need some help. Looking at a 2105 altitude in SLC Utah. Here's what I'm currently being quoted by dealer through US bank. Seems high from some of the lease calculators out there but just wanted to check the numbers. ( whats the current MF and residual? ) Any help is greatly appreciated.

    MSRP 3900
    Cap cost 32750
    0 down
    Residual - 17292 ( I believe it's .528 )
    36 months
    15,000 miles
    MF - .00105
    State tax 6.8

    Monthly payment with tax and license $577 a month


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    MichaellMichaell Moderator Posts: 244,268

    Need some help. Looking at a 2105 altitude in SLC Utah. Here's what I'm currently being quoted by dealer through US bank. Seems high from some of the lease calculators out there but just wanted to check the numbers. ( whats the current MF and residual? ) Any help is greatly appreciated.

    MSRP 3900
    Cap cost 32750
    0 down
    Residual - 17292 ( I believe it's .528 )
    36 months
    15,000 miles
    MF - .00105
    State tax 6.8

    Monthly payment with tax and license $577 a month

    We don't have the US Bank lease numbers to confirm.

    The Chrysler Capital numbers for the 2015 JGC Altitude 4x4 for 36/15 are .00002 and 46%.

    I suspect the US Bank lease has larger incentives to offset the higher MF.

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    mfankhausermfankhauser Member Posts: 2
    Michaell said:

    Need some help. Looking at a 2105 altitude in SLC Utah. Here's what I'm currently being quoted by dealer through US bank. Seems high from some of the lease calculators out there but just wanted to check the numbers. ( whats the current MF and residual? ) Any help is greatly appreciated.

    MSRP 3900
    Cap cost 32750
    0 down
    Residual - 17292 ( I believe it's .528 )
    36 months
    15,000 miles
    MF - .00105
    State tax 6.8

    Monthly payment with tax and license $577 a month

    We don't have the US Bank lease numbers to confirm.

    The Chrysler Capital numbers for the 2015 JGC Altitude 4x4 for 36/15 are .00002 and 46%.

    I suspect the US Bank lease has larger incentives to offset the higher MF.
    I didn't get the jeep #s but he quoted me a monthly of 581 through them so about the same. Per the average does this seem high? Thanks!
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    MichaellMichaell Moderator Posts: 244,268

    Michaell said:

    Need some help. Looking at a 2105 altitude in SLC Utah. Here's what I'm currently being quoted by dealer through US bank. Seems high from some of the lease calculators out there but just wanted to check the numbers. ( whats the current MF and residual? ) Any help is greatly appreciated.

    MSRP 3900
    Cap cost 32750
    0 down
    Residual - 17292 ( I believe it's .528 )
    36 months
    15,000 miles
    MF - .00105
    State tax 6.8

    Monthly payment with tax and license $577 a month

    We don't have the US Bank lease numbers to confirm.

    The Chrysler Capital numbers for the 2015 JGC Altitude 4x4 for 36/15 are .00002 and 46%.

    I suspect the US Bank lease has larger incentives to offset the higher MF.
    I didn't get the jeep #s but he quoted me a monthly of 581 through them so about the same. Per the average does this seem high? Thanks!
    I don't chart the deals that I read about - you can read back through this thread (or other JGC lease discussions) to see what others have negotiated.

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    edwerdcedwerdc Member Posts: 14
    Hi just received a quote from a dealership in SoCal for a 2015 GC Altitude 4x4:

    MSRP: $41,625
    Your Price after discounts and rebates): $35,028
    36 Months Lease
    12,000 miles/yr.
    Money factor: 0.00028
    Residual: 0.47
    Drive off: $1,200
    $443/mo. plus tax OR $479/mo. (OC tax included)
    Residual value (at the end of lease): $19,563

    How does this seem? I feel like I can get even lower, although $6K off MSRP seems pretty good? I want to get my monthly closer to $400.
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    kyfdxkyfdx Moderator Posts: 241,674
    edwerdc said:

    Hi just received a quote from a dealership in SoCal for a 2015 GC Altitude 4x4:

    MSRP: $41,625
    Your Price after discounts and rebates): $35,028
    36 Months Lease
    12,000 miles/yr.
    Money factor: 0.00028
    Residual: 0.47
    Drive off: $1,200
    $443/mo. plus tax OR $479/mo. (OC tax included)
    Residual value (at the end of lease): $19,563

    How does this seem? I feel like I can get even lower, although $6K off MSRP seems pretty good? I want to get my monthly closer to $400.

    Are you sure its a 4X4? Because all of your lease variables match up to the 4X2 program.

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    aus10sntxaus10sntx Member Posts: 30
    What is the current MF and residual on JGC altitude '15 4x2 36/10 24 or 27/10?
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    MichaellMichaell Moderator Posts: 244,268
    aus10sntx said:

    What is the current MF and residual on JGC altitude '15 4x2 36/10 24 or 27/10?

    36/10 - .00028 and 48%.

    24/27 month numbers not competitive

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    aus10sntxaus10sntx Member Posts: 30
    What about for the overland 4x2 and overland high altitude 4x2? Is it also 36/10 .00028 and 48%?
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    edwerdcedwerdc Member Posts: 14
    kyfdx said:
    Hi just received a quote from a dealership in SoCal for a 2015 GC Altitude 4x4: MSRP: $41,625 Your Price after discounts and rebates): $35,028 36 Months Lease 12,000 miles/yr. Money factor: 0.00028 Residual: 0.47 Drive off: $1,200 $443/mo. plus tax OR $479/mo. (OC tax included) Residual value (at the end of lease): $19,563 How does this seem? I feel like I can get even lower, although $6K off MSRP seems pretty good? I want to get my monthly closer to $400.
    Are you sure its a 4X4? Because all of your lease variables match up to the 4X2 program.
    Yeah, that's the 4x4 MSRP and he gave me the window sticker. The final price is great, but the residual is pretty bad causing the lease program/monthly to be high..any advice? Do the residuals change? What's it for 36/10?
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    kyfdxkyfdx Moderator Posts: 241,674
    aus10sntx said:

    What about for the overland 4x2 and overland high altitude 4x2? Is it also 36/10 .00028 and 48%?

    .00039 MF and 48% residual for either.

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    kyfdxkyfdx Moderator Posts: 241,674
    edwerdc said:


    kyfdx said:

    edwerdc said:

    Hi just received a quote from a dealership in SoCal for a 2015 GC Altitude 4x4:

    MSRP: $41,625
    Your Price after discounts and rebates): $35,028
    36 Months Lease
    12,000 miles/yr.
    Money factor: 0.00028
    Residual: 0.47
    Drive off: $1,200
    $443/mo. plus tax OR $479/mo. (OC tax included)
    Residual value (at the end of lease): $19,563

    How does this seem? I feel like I can get even lower, although $6K off MSRP seems pretty good? I want to get my monthly closer to $400.

    Are you sure its a 4X4? Because all of your lease variables match up to the 4X2 program.

    Yeah, that's the 4x4 MSRP and he gave me the window sticker. The final price is great, but the residual is pretty bad causing the lease program/monthly to be high..any advice? Do the residuals change? What's it for 36/10?

    Add 1% to go from 12K/yr to 10K/yr

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    marcus142marcus142 Member Posts: 18
    Anybody have the numbers for NJ, 36 months, 12k annually? Grand Cherokee Altitude
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    kyfdxkyfdx Moderator Posts: 241,674
    marcus142 said:

    Anybody have the numbers for NJ, 36 months, 12k annually? Grand Cherokee Altitude

    4X4: .00005 MF and 49% residual

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