Is this a good deal?

mickymac2015

I was quoted the following for a lease - 2015 Jeep Grand Cherokee Limited, MSRP $42000: I am a current Jeep lease holder.

Zero Down Payment
$1750 due at signing
$394 per month

36 Months
10 Miles per year

The quote was a verbal from the same dealership I leased my current vehicle from. I don't have the full break down of the numbers.

Thanks!

Michaell

mickymac2015 said:

So, here's an update on their quote to me:

2015 Jeep Grand Cherokee Ltd (4x4)
MSRP is $42,000
Selling Price $35000
Zero down payment
$900 due at signing (including 1st months payment)
Monthly payment (including sales tax) is $418 - I'm in MA (6.25% sales tax)

Using the MF and residual numbers you gave me (.00035 and .53) I calculated a payment of $397 including sales tax. Am I right? If so, should I go back to them with this calculation and ask them to match it?

Thanks again!

I get the same number; confirm with the dealer what the net cap cost is. If higher than the selling price, ask them what's been added to it.

kyfdx

mickymac2015 said:

I was quoted the following for a lease - 2015 Jeep Grand Cherokee Limited, MSRP $42000: I am a current Jeep lease holder.

Zero Down Payment
$1750 due at signing
$394 per month

36 Months
10 Miles per year

The quote was a verbal from the same dealership I leased my current vehicle from. I don't have the full break down of the numbers.

Thanks!

4X4?

.00035 MF and 53% residual.

Can't really tell you more than that without the details (selling price, CAP cost, tax, etc)

mickymac2015

So, here's an update on their quote to me:

2015 Jeep Grand Cherokee Ltd (4x4)
MSRP is $42,000
Selling Price $35000
Zero down payment
$900 due at signing (including 1st months payment)
Monthly payment (including sales tax) is $418 - I'm in MA (6.25% sales tax)

Using the MF and residual numbers you gave me (.00035 and .53) I calculated a payment of $397 including sales tax. Am I right? If so, should I go back to them with this calculation and ask them to match it?

Thanks again!