2016 Cherokee Latitude Quote

dmoulton600

Hi,
I've just received the attached quote on a 2016 cherokee latitude. Can somebody help me make sense of this? He applied only $2k of the $3500 Jeep cash allowance deal (saying I wasn't military nor did I have anybody else in the household related to me with an existing lease). He took the fees out of this $2k (mentioned he took out first month and the license fee but even still 2,000 - 310 - 272 = $1,418 which is above his $1,214 cap reduction). He's also using the $2k to pose as 'amount due at start' (what was the purpose of this?) - but assured me I wouldn't be paying a dime up front. I'm rather confused. Also I'd need to pay a bank/acquisition fee, right? (how much is this?) Thanks in advance for your awesome help.
-Dan

kyfdx

dmoulton600 said:

Hi,
I've just received the attached quote on a 2016 cherokee latitude. Can somebody help me make sense of this? He applied only $2k of the $3500 Jeep cash allowance deal (saying I wasn't military nor did I have anybody else in the household related to me with an existing lease). He took the fees out of this $2k (mentioned he took out first month and the license fee but even still 2,000 - 310 - 272 = $1,418 which is above his $1,214 cap reduction). He's also using the $2k to pose as 'amount due at start' (what was the purpose of this?) - but assured me I wouldn't be paying a dime up front. I'm rather confused. Also I'd need to pay a bank/acquisition fee, right? (how much is this?) Thanks in advance for your awesome help.
-Dan

Can't help you with the amount of incentives, but I can help decipher the printout.

1) Amount due at start: $2000. This is the total amount due at signing. But, it's covered by the $2000 rebate, so as the dealer noted, ZERO due from you at signing.
2) You can add up the items on the right hand column, then deduct from the $2000. (The $109.33 is the tax on the CAP reduction). I only get about $700, though.. so, still $85 short. (after subtracting from the $2000). I'm guessing there is an answer for that, but I don't have it. If it's CA, then maybe the $80 doc fee?
3) You are correct about the $595 acquisition fee. It's either already added into the "Initial CAP cost", or your region has a waiver program, this month.

The money factor and residual are correct.

Looks like a pretty solid quote, with just a few details to fill in.