2016 Jeep Grand Cherokee Lease Questions

Michaell

clawper said:

Thanks for all the valuable info! Looking for MF and Residual for 2016 4x2 overland in CA for 36/10

.00061 and 52%

clawper said:

I'm a little new to the leasing game. Is residual and MF something the dealerships will negotiate or do they consider those generally fixed? I got a quote for a 2016 4x2 overland on a 36/10 for $2500 down and $678/mo. Cap Cost is $46260, residual is 47% and MF is .00083. Seems like a pretty bad offer all around, wondering if I try and just negotiate cap cost or do I go back on residual/MF too?

Residual is set by the bank; dealer cannot modify it.

However, dealers can choose from multiple banks to source a lease; we only have numbers for Chrysler Capital. Other banks will allow dealers to apply big rebates to lower the cap cost.

bgosnell

Can you explain how taxes in Illinois are calculated?  Is it the monthly depreciation + monthly interest times the tax rate (6.25 in this case). For example, ($450+ -$100)*1.0625 =$584. 

mctwist938

Can you please give me numbers in Connecticut for a 2016 overland and a 2106 limited 4x4, 12k and 15k?

thanks 

Michaell

bgosnell said:

Can you explain how taxes in Illinois are calculated?  Is it the monthly depreciation + monthly interest times the tax rate (6.25 in this case). For example, ($450+ -$100)*1.0625 =$584. 

It's my understanding that IL taxes the sum of the payments and collects the entire amount up front.

Therefore, it's $450 * 36 * 6.25%, or $1012.50. You can choose to pay the entire amount at lease inception, or add it to the cap cost and pay it monthly.

Michaell

mctwist938 said:

Can you please give me numbers in Connecticut for a 2016 overland and a 2106 limited 4x4, 12k and 15k?

thanks 

36/15 numbers:
Overland - .00053 and 51%
Limited - .00082 and 53%

Add 2% for 12K

mctwist938

Michaell said:

mctwist938 said:

Can you please give me numbers in Connecticut for a 2016 overland and a 2106 limited 4x4, 12k and 15k?

thanks 

36/15 numbers:
Overland - .00053 and 51%
Limited - .00082 and 53%

Add 2% for 12K

thank you for the quick reply. i apologize, but i forgot to specify, i assume those are the 36 and 39 month numbers, i would also like the 42 month numbers as it seems that there has been a dip in money factor at 42 months. thanks so much.

ccolburn

What do you mean by add 2% for 12K?
I am in NC and the money factor I got offered is.00137 which seems like a rip off right based on what I see here. 36 months 12K miles, $39k out the door with a residual at $23k, 2016 limited

Michaell

mctwist938 said:

Michaell said:

mctwist938 said:

Can you please give me numbers in Connecticut for a 2016 overland and a 2106 limited 4x4, 12k and 15k?

thanks 

36/15 numbers:
Overland - .00053 and 51%
Limited - .00082 and 53%

Add 2% for 12K

thank you for the quick reply. i apologize, but i forgot to specify, i assume those are the 36 and 39 month numbers, i would also like the 42 month numbers as it seems that there has been a dip in money factor at 42 months. thanks so much.

Subtract 2% for 39 months

42/15
Overland - .00034 and 46%
Limited - .00063 and 48%

Michaell

ccolburn said:

What do you mean by add 2% for 12K?
I am in NC and the money factor I got offered is.00137 which seems like a rip off right based on what I see here. 36 months 12K miles, $39k out the door with a residual at $23k, 2016 limited

For example, if the 15,000 mile residual is 53%, the 12K residual is 2% higher, or 55%

Dealer can mark up the MF for extra profit; alternatively, they can use a different bank to fund the lease. We don't have those numbers to verify, but often they have higher MF and residuals, but large incentives to offset.

ccolburn

Okay thanks. So you don't have the numbers on 2016 grand cherokee limited lease deals in NC? .00137 seems high compared to .0082 it significantly increases the cost of the lease.

ccolburn

I have had 2 dealer quote me a lease from US Bank. I am in NC how to I find a dealer that using the FCA bank and get the money factors others get? I keep getting .00113 or so instead of .00082 or better which I have seen here.

kyfdx

ccolburn said:

I have had 2 dealer quote me a lease from US Bank. I am in NC how to I find a dealer that using the FCA bank and get the money factors others get? I keep getting .00113 or so instead of .00082 or better which I have seen here.

Ask the dealer why they don't use Chrysler Capital.

ollie13001

I was quoted a MF of .00381 and 56% residual in VA. The MF seems too high.

ollie13001

this was for an AWD Summit

automan822

Laredo 4x2 75th anniversary edition 36/15 res. MF in Los Angeles, lease cash?

Michaell

ollie13001 said:

I was quoted a MF of .00381 and 56% residual in VA. The MF seems too high.

ollie13001 said:

this was for an AWD Summit

Confirm this is a Chrysler a capital lease. And, do you have top tier credit?

What lease term and how many miles per year are you looking for?

Michaell

automan822 said:

Laredo 4x2 75th anniversary edition 36/15 res. MF in Los Angeles, lease cash?

.00086 and 53%.

ollie13001

Michaell said:

ollie13001 said:

I was quoted a MF of .00381 and 56% residual in VA. The MF seems too high.

ollie13001 said:

this was for an AWD Summit

Confirm this is a Chrysler a capital lease. And, do you have top tier credit?

What lease term and how many miles per year are you looking for?

36 months, 12k...it was just over email...I did not confirm if this was a Chrysler lease.

jayb1818

Hello, I would like to know the MF and Residual for the 2016 Jeep Grand Cherokee High Altitude 4x4 in New York for 36 months /10k miles. Thanks

Michaell

ollie13001 said:

Michaell said:

ollie13001 said:

I was quoted a MF of .00381 and 56% residual in VA. The MF seems too high.

ollie13001 said:

this was for an AWD Summit

Confirm this is a Chrysler a capital lease. And, do you have top tier credit?

What lease term and how many miles per year are you looking for?

36 months, 12k...it was just over email...I did not confirm if this was a Chrysler lease.

ollie13001 said:

Michaell said:

ollie13001 said:

I was quoted a MF of .00381 and 56% residual in VA. The MF seems too high.

ollie13001 said:

this was for an AWD Summit

Confirm this is a Chrysler a capital lease. And, do you have top tier credit?

What lease term and how many miles per year are you looking for?

36 months, 12k...it was just over email...I did not confirm if this was a Chrysler lease.

.00108 and 52%

Michaell

jayb1818 said:

Hello, I would like to know the MF and Residual for the 2016 Jeep Grand Cherokee High Altitude 4x4 in New York for 36 months /10k miles. Thanks

.00053 and 54%

hanky23

Can you please confirm MF and Residuals for 4X2 2016 Overland in florida 36/12 and 36/15. Thank you

Michaell

hanky23 said:

Can you please confirm MF and Residuals for 4X2 2016 Overland in florida 36/12 and 36/15. Thank you

.00061 and 51% or 49%

cb4d

Can I please have residual and MF for a 2016 Grand Cherokee 4x2 Limited in California for 3 year lease at 10k/year? Thanks in advance. (sorry for posting in wrong forum earlier)

kyfdx

cb4d said:

Can I please have residual and MF for a 2016 Grand Cherokee 4x2 Limited in California for 3 year lease at 10k/year? Thanks in advance. (sorry for posting in wrong forum earlier)

.00061 MF and 53% residual

coliphage

Can I please have residual and MF for a 2016 Grand Cherokee 4x4 limited in WA for 36/12 and 36/10? Thank you so much.

kyfdx

coliphage said:

Can I please have residual and MF for a 2016 Grand Cherokee 4x4 limited in WA for 36/12 and 36/10? Thank you so much.

.00082 MF and 55%/56% residual

cb4d

Just received this quote from the dealer. Thoughts?

2016 Jeep Grand Cherokee 2WD
Total Retail: 45,105.00
Reduced by: 3950.00
Factory Rebate: 2000
Selling Price: 39155.00
36 months, 10k/year
RV: 53%
MF: .000610
Total cash due at signing: $1000
Monthly payment: $542.33

I feel the discount should be higher. Been seeing some others within here getting more off the sticker than 5950 right?

stk24178

What is the residual and MF for 2016 GC Limited 4x4 07016 24 months and 12k miles?

bigblue99

Can you please provide MF and residual for 2016 GC Laredo 36 months / 15k miles. In NJ if that makes a difference. Thanks in advance

Michaell

cb4d said:

Just received this quote from the dealer. Thoughts?

2016 Jeep Grand Cherokee 2WD
Total Retail: 45,105.00
Reduced by: 3950.00
Factory Rebate: 2000
Selling Price: 39155.00
36 months, 10k/year
RV: 53%
MF: .000610
Total cash due at signing: $1000
Monthly payment: $542.33

I feel the discount should be higher. Been seeing some others within here getting more off the sticker than 5950 right?

Using your numbers, I get $462/mo before tax.

Confirm the adjusted cap cost with the dealer.

We haven't yet seen the Chrysler lease numbers for October, so can't confirm the numbers you were given.

Michaell

stk24178 said:

What is the residual and MF for 2016 GC Limited 4x4 07016 24 months and 12k miles?

Sorry, we haven't yet seen the Chrysler lease numbers for October.

Michaell

bigblue99 said:

Can you please provide MF and residual for 2016 GC Laredo 36 months / 15k miles. In NJ if that makes a difference. Thanks in advance

Sorry, we haven't yet seen the Chrysler lease numbers for October.

jimse90

2016 JGC Overland 4x2 SoCal 
15/36
12/36

Thanks! 

kyfdx

jimse90 said:

2016 JGC Overland 4x2 SoCal 
15/36
12/36

Thanks! 

Sorry... no numbers from Chrysler, this month.

kyfdx

Michaell said:

stk24178 said:

What is the residual and MF for 2016 GC Limited 4x4 07016 24 months and 12k miles?

Sorry, we haven't yet seen the Chrysler lease numbers for October.

.00030 MF and 59% residual

kyfdx

Michaell said:

bigblue99 said:

Can you please provide MF and residual for 2016 GC Laredo 36 months / 15k miles. In NJ if that makes a difference. Thanks in advance

Sorry, we haven't yet seen the Chrysler lease numbers for October.

.00086 MF and 53% residual, assuming 4X4.

kyfdx

jimse90 said:

2016 JGC Overland 4x2 SoCal 
15/36
12/36

Thanks! 

.00061 MF and 49%/51% residual

wiscoguy

Hi!
I know you previously reported a .00086 and 53% residual for a 2016 GC Laredo 4x4 36mo/15k, in response to a question about rates in NJ.
Would that also be the rate in NV? (sorry, not sure if Chrysler Capital varies their rate from state to state ...)
My brother-in-law was quoted .00128 MF, which sounds quite a bit like a dealer markup to me ...

Much appreciated!

kyfdx

wiscoguy said:

Hi!
I know you previously reported a .00086 and 53% residual for a 2016 GC Laredo 4x4 36mo/15k, in response to a question about rates in NJ.
Would that also be the rate in NV? (sorry, not sure if Chrysler Capital varies their rate from state to state ...)
My brother-in-law was quoted .00128 MF, which sounds quite a bit like a dealer markup to me ...

Much appreciated!

There could be regional differences, but basically, the rates are nationwide.

The maximum dealer markup to the rate is .00042.
Coincidence?

coliphage

kyfdx said:

coliphage said:

Can I please have residual and MF for a 2016 Grand Cherokee 4x4 limited in WA for 36/12 and 36/10? Thank you so much.

.00082 MF and 55%/56% residual

Has the MF and residual changed for October? Thanks.

Michaell

coliphage said:

kyfdx said:

coliphage said:

Can I please have residual and MF for a 2016 Grand Cherokee 4x4 limited in WA for 36/12 and 36/10? Thank you so much.

.00082 MF and 55%/56% residual

Has the MF and residual changed for October? Thanks.

No changes.

nycangelo

Current offer I have on a 2016 JGC Limited 4x4

MSRP $42,900

36 months 12k miles a year
$2,500 down (out the door) including first month and $380 a month. I am not completely sure what would be including in the down payment besides the taxes.

Is this a good and fair offer for both sides?

kyfdx

nycangelo said:

Current offer I have on a 2016 JGC Limited 4x4

MSRP $42,900

36 months 12k miles a year
$2,500 down (out the door) including first month and $380 a month. I am not completely sure what would be including in the down payment besides the taxes.

Is this a good and fair offer for both sides?

Selling price?
Adjusted CAP cost?
State and tax rate?

cb4d

Can I have MF and residual for both 2016 and 2017 Grand Cherokee 4x2 Limited in California? Thanks!

Michaell

cb4d said:

Can I have MF and residual for both 2016 and 2017 Grand Cherokee 4x2 Limited in California? Thanks!

What lease term and how many miles per year?

2017 discussion is here:

http://forums.edmunds.com/discussion/42511/jeep/grand-cherokee/2017-jeep-grand-cherokee-lease-questions#latest

cb4d

10k a year, 3 years. Thanks!

Michaell

cb4d said:

Can I have MF and residual for both 2016 and 2017 Grand Cherokee 4x2 Limited in California? Thanks!

cb4d said:

10k a year, 3 years. Thanks!

.00061 and 53%

cb4d

Received this counter offer. Confirmed they are using .00061 MF and 53% residual.

2016 Grand cherokee w/lux group II stock # J63119
http://www.glendaledodgecalifornia.com/all-inventory/index.htm?search=j63119
*36 month lease
*10,000 miles per year
*first payment down $495
*$495 per month for 35 more months including tax

Michaell

cb4d said:

Received this counter offer. Confirmed they are using .00061 MF and 53% residual.

2016 Grand cherokee w/lux group II stock # J63119
http://www.glendaledodgecalifornia.com/all-inventory/index.htm?search=j63119
*36 month lease
*10,000 miles per year
*first payment down $495
*$495 per month for 35 more months including tax

Solid deal, with tax and only $495 due at signing.