Need input on lease deal

jeremymahonjeremymahon Member Posts: 3
edited August 2016 in Jeep
NJ dealer, I live in NY (so NY taxes).

2016 GC Overland 4x4 w/ v8 via US Bank for $6500 in rebates
MSRP: $52,280
Payment: $596
Cash due at signing: $3000

Thoughts? The reason it's a tad high is I feel the dealer is really low balling me on my trade.

Trade: 2012 Audi A4 2.0T Quattro Premium 8-spd auto w/ heated front seats w/ CPO warranty (Jeep dealer claims this is useless to them)
I owe $18k. They offered $13,500. However, I'm still confused because $13,500+$6500 in rebates is $20k. That automatically puts me at +$2000 on the deal, plus $3000 down, and I'm still at $600/month? Seems strange to me. When I asked where the $6500 in rebates was, they said it was built into the sale price of the Jeep. The sale price was listed at $47,xxx.

$52,280-$6500 (rebates/IDL)=$45,780

$45,780+$4500 (audi neg eq)=$50,280

$50,280 in a lease calculator on a 10k/36mo lease with a 55% resid and .00037 MF comes out to be $650/month. Add the $3000 up front and the payment drops to $559.

Sounds to me like they're trying to pull a fast one and not discount the Jeep at all, but claim a discount via the rebates I'm entitled to--which is "free" money to them. Opinions?

Comments

  • kyfdxkyfdx Moderator Posts: 207,910

    NJ dealer, I live in NY (so NY taxes).

    2016 GC Overland 4x4 w/ v8 via US Bank for $6500 in rebates
    MSRP: $52,280
    Payment: $596
    Cash due at signing: $3000

    Thoughts? The reason it's a tad high is I feel the dealer is really low balling me on my trade.

    Trade: 2012 Audi A4 2.0T Quattro Premium 8-spd auto w/ heated front seats w/ CPO warranty (Jeep dealer claims this is useless to them)
    I owe $18k. They offered $13,500. However, I'm still confused because $13,500+$6500 in rebates is $20k. That automatically puts me at +$2000 on the deal, plus $3000 down, and I'm still at $600/month? Seems strange to me. When I asked where the $6500 in rebates was, they said it was built into the sale price of the Jeep. The sale price was listed at $47,xxx.

    $52,280-$6500 (rebates/IDL)=$45,780

    $45,780+$4500 (audi neg eq)=$50,280

    $50,280 in a lease calculator on a 10k/36mo lease with a 55% resid and .00037 MF comes out to be $650/month. Add the $3000 up front and the payment drops to $559.

    Sounds to me like they're trying to pull a fast one and not discount the Jeep at all, but claim a discount via the rebates I'm entitled to--which is "free" money to them. Opinions?

    USBank doesn't use the same money factors and residuals as Chrysler Capital.

    If I had $4500 in negative equity, I'd just keep driving the Audi.

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  • jeremymahonjeremymahon Member Posts: 3
    That's the issue--I don't. The dealer was just lowballing me. I got a much better value from a different dealer last night and ended up going with a 2016 Limited w/ V8 and offroad adventure package (for air suspension). No nav, no ventilated seats, and 18" wheels...but otherwise pretty much the same vehicle as the Overland I was looking at. Thanks.
  • kyfdxkyfdx Moderator Posts: 207,910

    That's the issue--I don't. The dealer was just lowballing me. I got a much better value from a different dealer last night and ended up going with a 2016 Limited w/ V8 and offroad adventure package (for air suspension). No nav, no ventilated seats, and 18" wheels...but otherwise pretty much the same vehicle as the Overland I was looking at. Thanks.

    Congrats!

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

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