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2013 and earlier Jeep Grand Cherokee Lease Questions

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  • vettel3vettel3 Member Posts: 3
    Hello Car Man,

    I am looking at a jeep overland lease, 36 month, 15,000/ year, are there any factory rebates or other specials. What are the numbers on this car is SO CAL. Will there be better deals on memorial weekend.

    PS: You helped a lot in my ACURA TL lease back in Feb!

    Regards,
  • danimal77danimal77 Member Posts: 17
    I've been trying to negotiate a deal on 4x4 Grand Cherokee Limited (in Ohio) to no avail. I've been trying to get the deal below that someone posted on here (except I have WV) but the best I've been quoted from several places was $520 mo. Has anyone gotten this deal? Which dealdership? Please help.

    MSRP: $39,185.00
    Discounts and Rebates: ($3,000.00)
    Lease conquest rebate (Subaru): ($1,000.00)
    Sales price: $35,185.00

    36 month lease
    10K miles/year
    $0 cash down
    $383/month + Tax (w/ documentation fee, registration fee, and first payment all due at signing)

    Residual: 57%
    Money Factor: 0.00027
  • greenwell39greenwell39 Member Posts: 11
    I signed this lease yesterday a Brigham Gill Jeep in Natick MA. it came out to $400.74 a month $0 down (although documentation fee, registration fee, and first payment all due at signing).

    Stock 2014 Grand Cherokee Limited in Cherry Red
  • greenwell39greenwell39 Member Posts: 11
    above price includes tax
  • danimal77danimal77 Member Posts: 17
    No sunroof correct? What was your registration fee? Thank you!
  • greenwell39greenwell39 Member Posts: 11
    no sunroof

    The documentation fee is $377. The RMV charges $125 for new plates.
  • franknussfranknuss Member Posts: 3
    In the dealerships, they told me that I would get the $2,750 Lease Cash only if I leased with Chrysler (I assume that means TD Auto Finance, right?) Is that true? Because if it is, wouldn't it make sense to use them as opposed to go to a bank to obtain a lease? Not sure if this helps answer the question but I have Tier 1 credit. THANKS!
  • orion23orion23 Member Posts: 1
    edited May 2013
    Hi guys!
    I'm new to leasing, looking into a Jeep grand Cherokee 2014 Laredo 4X4, nothing fancy, basic model. My credit score is upwards of 750...
    I'm in NJ and this is the current offer to bring people in:
    http://www.salernoduanesummit.com/jeep-models-in-nj/jeep-grand-cherokee

    It says $249 with about 3,500 down, closed end with .18c per mile over 10,000

    Doesn't look bad to me, don't really need more than 10K and @ .18c it shouldn't be a big deal.

    Any thoughts?

    What tricks or extra fees can I expect from a salesman ?

    Thanks!

    New 2014 Jeep Grand Cherokee Laredo 4x4 $249 x 39 months SUV, 4-Dr., Auto, 3.6L, V6, PB/S/W/Lks/Mirrs, Air, Dual Air Bags, Keyless Ent., Cruise, Alloys, AM/FM/CD. stk#1C4RJFAG3EC150760. MSRP: $33685. Lease: $3251 Dwn Pyt. + 1st Mo. Pyt. + $0 Sec Dep. = $3500 Due At Incep; Ttl. Pyts: $9711; P/Opt. At Lease End: $19200.25 Mi. allow: 10,000 mi./yr. 18¢ mi. thereafter. Lease incl $1000 2014 Conquest Lease to Retail/Lease rebate, & $2250 IDL Bonus Cash. Prices incl. all costs to be paid by consumer except for lic., reg. & taxes. Offers cannot be combined with any other offers or incentives. Offers expire 5/31/13. *Based on closed end lease w/primary lender approval. Lessee resp. for excess wear/tear. Customers must meet all rebate qualifications. See dlr for complete details. Not resp. for typos. Photos for illustrative purposes only. All ad vehicles sold cosmetically as is.
  • remcobremcob Member Posts: 1
    I got a lease quote today on a 2014 Grand Cherokee Overland with the Advanced Technology Group. I am located in the Bay Area
    MSRP: 50,880
    Discount: 2,360
    48,520

    Zero out of pocket
    Residual value .5 (I assume this means 50%) and money factor of .0009

    They calculated the lease to be $750 incl 9% sales tax.

    Questions:
    1) Does that calculation work out based on the info on residual, money factor etc?
    2) Does that residual make sense? It feels low to me.
    3) Is the discount on the low end? SOmewhere I read earlier that the discount could be up to 10% of MSRP (which may be high?)

    I was hoping to lease this Grand Cherokee for closer to $600/$650 or is that impossible

    Thanks for any help.
  • hamfist1hamfist1 Member Posts: 10
    Car_Man,

    First time poster---looking for some quick advice.

    Sold my prior ride so I'm in a bit of a bind for a car. Just visited my local Jeep store and got the following quote on a 2014 Limited (nav, roof, 18s, no HIDs):

    Window: 40,580
    Affiliate price: 38,496
    Leased with Chrysler for 39mo/12k year
    55% residual
    Factor of: .00087

    $512.49 - that's nothing out of pocket with a start-up of $640.43.

    This seems like a pretty bad deal from what I'm seeing. Any suggestions on how to get them down? TBH, I always buy and this is the first time I've leased so any input you can provide is appreciated.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'd be happy to help you out, asd302. Chrysler Capital's May buy rate lease money factor and residual value for a 24-month lease of a 2014 Jeep Grand Cherokee Limited 4WD with 15,000 miles per year are .00030 and 66%.

    The numbers for an otherwise identical 36-month lease are .00027 and 54%.

    The numbers for the 2014 Jeep Grand Cherokee Overland 4WD are .00066 / 63% and .00009 / 50%.

    If you were to lease with only 12,000 miles per year, its residual values will be 2% higher.

    Chrysler is no longer offering special leases through Ally.

    I don't think that Chrysler is currently providing any cash incentives on leases of the '14 Grand Cherokee.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome yideng23. Chrysler Capital's May buy rate lease money factor for a 36-month lease of a 2014 Jeep Grand Cherokee Limited 4WD with 12,000 miles per year are .00027 and 56%.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello jovani. Please see my previous post for the information that you're looking for.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey asd302. I'm glad that you've found my posts so helpful.

    Chrysler Capital's May buy rate lease money factor and residual value for a 24-month lease of a 2014 Jeep Grand Cherokee Limited 4WD with 15,000 miles per year are .00030 and 66%. This truck's 36-month numbers are .00027 and 54%.

    The numbers for the Overland 4WD are .00013 / 65% and .00056 / 56%.

    The residual value for a lease with 12,000 miles per year would be 2% higher.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi greenwell39. The money factor and selling price that you were quoted look great.

    Using an MSRP of $39,185, a selling price of $35,185, a money factor of .00027 and a residual value of 57% I estimate that this truck's zero down, pre-tax monthly payment should be around $373.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello geox19. Chrysler Capital's May buy rate lease money factor and residual value for a 2014 Jeep Grand Cherokee Overland 4WD with 15,000 miles per year are .00009 and 50%.

    Chrysler Capital is Chrysler's new captive finance company. They just started using them exclusively this month.

    If you provide me with this truck's dealer invoice price (you can find it here) I will work up a sample payment on it for you.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey vettel3. Chrysler Capital's May buy rate lease money factor and residual value for a 36-month lease of a 2013 Jeep Grand Cherokee Overland 4WD with 15,000 miles per year are .00009 and 50%.

    I am not aware of any cash incentives on leases of this truck right now.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi remcob. The 50% residual value that you were quoted is spot on for a 36-month lease of this truck with 15,000 miles per year through Chrysler Capital. the money factor should be .00009.

    Using that lease program, an MSRP of $50,880 and a selling price of $48,520, I come up with a zero down, pre-tax monthly payment of $648.

    This truck probably has a spread of around $3,000 or so between its MSRP and dealer invoice price. The discount that you were quoted doesn't look too bad.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome hamfist1. The money factor that you were quoted is off. Chrysler Capital's May buy rate lease money factor for a 39-month lease of a 2014 Jeep Grand Cherokee Limited 2WD is .00033. The factor for a Limited 4WD is .00027.

    You might be able to shave a little off of this truck's selling price as well.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • hamfist1hamfist1 Member Posts: 10
    Thanks! On further investigation, the .00087 was the 'sell rate.' From my research, this is the rate the bank will allow the dealership to pad the lease rate. Is that correct?

    /hamfist/
  • kwteng2kwteng2 Member Posts: 12
    Hello Car Man

    I was just quoted $610 a month for a zero down 36 month lease at 10,000 per year. The MSRP is $41,750. I am also paying taxes and fees up front. This seems very high and the dealership wasnt very willing to go over actual numbers or discounts. What should the numbers be for this lease.

    KWT
  • mfgjeepleasemfgjeeplease Member Posts: 2
    Hello!

    Does anyone know the May 2013 lease rates (money factor and residual value) for a 2014 Jeep Grand Cherokee Limited 2WD V6? I am considering both a 24 month and 36 month lease at 15,000 miles per year. Also what kind of sales prices are people getting?

    I am looking at vehicle with an MSRP of $38,680.

    Thank you!!

    Mike
  • twins12709twins12709 Member Posts: 8
    my dealer is quoting me 53% residual and .00085 mf on a jeep overland. msrp 44k selling price 42k.
    are these numbers off? is the mf or residual a "secret" .
    can u post current residual and mf rates amd what payment would be (10k miles / yr 36 mths...little to 0 money down)
    i have 781 credit score.

    thx
  • yandryandr Member Posts: 2
    edited May 2013
    Hi Carman,

    I’m looking to lease a 2014 Jeep Grand Cherokee Limited 4x2 with a V6 engine in Los Angeles. I would like the Luxury II and Advanced Technology Packages. The MSRP is $43,980. The Lease term will be 36 months with 12,000 miles. I was quoted a money factor of .00075 and a residual of 55%. The net cap cost was $41,949. Monthly payment with zero down was $589. Do you think I can do better? If so, what part is open to negotiation?

    Thanks so much for your help. I really appreciate it.
  • dewarsandsodadewarsandsoda Member Posts: 207
    Hi vandr,
    My apologies in advance if i sound pedantic, but a lease is only based on three variables: Negotiated sales price; Residual Value (RV); and Money Factor (MF).

    RV is a fixed percentage set by the bank that's doing the lease (non-negotiable). There is a base rate MF that is suggested by the bank as well but dealers have the latitude to mark it up as another source of profit, so this variable is negotiable if it has been marked up. Also make sure the acquisition fee is the standard $795 and not marked up.

    As an aside, based on your numbers, I calculated a monthly pre-tax payment of $543.

    Cheers!
  • twins12709twins12709 Member Posts: 8
    my dealer is quoting me 53% residual and .00085 mf on a jeep overland. msrp 44k selling price 42k.
    are these numbers off? is the mf or residual a "secret" .
    can u post current residual and mf rates amd what payment would be (10k miles / yr 36 mths...little to 0 money down)
    i have 781 credit score.
  • twins12709twins12709 Member Posts: 8
    my dealer is quoting me 53% residual and .00085 mf on a jeep overland. msrp 44k selling price 42k.
    are these numbers off? is the mf or residual a "secret" .
    can u post current residual and mf rates amd what payment would be (10k miles / yr 36 mths...little to 0 money down)
    i have 781 credit score.
  • dewarsandsodadewarsandsoda Member Posts: 207
    Hi twins12709,
    Please ask Carman on this forum to give you the RV and MF for your 3 year/10K lease on the Overland and then you can validate against the dealer's numbers.

    The calculations of a lease payment would be as follows,
    Monthly Depreciation = (Cap Cost - (RV*MSRP))/Lease Term
    Monthly Interest Charges = (Cap Cost + RV*MSRP)*MF
    Monthly Lease (pre tax) = Monthly Depreciation + Monthly Interest Charges
    *N.B.: Cap Cost assumes Negotiated Sales Price + Acquisition fee only (i.e., no cap cost reduction or $0 down)

    Cheers!
  • yandryandr Member Posts: 2
    Dewarsandsoda,

    Thank you for your response. If I understand correctly, the two variables that are negotiable in a lease are the MF and the NSP (along with the acquisition fee if it exceeds $795). How do I confirm what the appropriate MF should be and what a fair NSP is?

    Thanks.
  • twins12709twins12709 Member Posts: 8
    my dealer is quoting me 53% residual and .00085 mf on a jeep overland. msrp 44k selling price 42k.
    are these numbers off? is the mf or residual a "secret" .
    can u post current residual and mf rates amd what payment would be (10k miles / yr 36 mths...little to 0 money down)
    i have 781 credit score.
  • jbowzjbowz Member Posts: 1
    All,

    This may or not be the proper place to pose this question, but from reading through the posts many of you seem very knowledgeable about Jeep/Chrysler related finance issues.

    I currently have an '11 BMW 335i XDrive Coupe, and the lease ends September 2013. I'm already getting the auto emails from BMW of Manhattan to trade it for a new model, and they'll waive fees, waive my remaining payments, waive the first two payments on a new model.

    I really want out of the car and back into an SUV (X5 is not an option)... Up unto October/Nov 2012, I had a credit rating of 735 (TU) 740 (Ex) 710(Eq); Hurricane Sandy wiped out my family in Long Beach, NY which is along the coastline, and the end of October 2012. I poured all of my money into getting them housed, fed, clothed with hopes of reimbursement from FEMA/Insurance - no such luck as of yet. I missed 3 payments on my BMW lease, and remained in complete contact with BMW Financial about my family circumstances (they verified my addresses as being in the affected area) - the basic customer service agent even waived my November payment, so technically I was only 2 payments behind, I gave them an exact date (Feb 1) that I would make the account current, and they told me it was absolutely no problem. BMW repossessed my vehicle on January 27, 2013 because it was two payments behind. I paid BMW through a ridiculous process via Western Union, and they released my car to me the next morning even though they had an option to auction it. The man on the phone told me that they would never auction it off for two payments being missed, yet he didn't have an answer as to why they would repossess after two missed payments. I digress. Nonetheless, as I near the end of my BMW lease, I absolutely will not lease from BMW again even though they are already qualified me a week ago during a run-flat replacement...

    Given I have an excellent history of credit up until November 2012 (I now have a f$%@! repossession on my credit reports) will Jeep qualify me for a '14 GC lease as I'm probably going to be considered high risk? Will they look at my credit reports as a whole.

    Thanks for any respectful replies in advance.
  • dewarsandsodadewarsandsoda Member Posts: 207
    Hi yandr,
    Carman would be your most accurate source for the base rate MF and a target sales price. Two other alternatives on MF could be as follows,
    1. Call several other Jeep dealerships and ask them for the MF's for top tier credit. Hopefully, you will get equivalent MF's, so you will be able to triangulate.
    2. Check ridewithg.com as sometimes he posts the MF

    Fortunately, American car companies have lower interest charges than their European counterparts. From the postings I've seen on here the MF's translate to <2% (i.e., MF x 2400).

    Cheers!
  • dewarsandsodadewarsandsoda Member Posts: 207
    I'm very sorry to hear about your misfortune, jbowz. To my knowledge, all potential leases require that the dealer runs a credit report as that will dictate your credit tier and subsequent MF. That said, you should probably call Chrysler Financial, explain your situation, and ask them directly as to how it would be handled (i.e., would they only look at the current credit report or credit score history).

    Cheers!
  • jgcdriverjgcdriver Member Posts: 1
    Hello

    What are the June numbers (MF and RV) for a 2014 4x4 Overland V6 with 12k miles year/36 months? MSRP just under 47k. What should be an expected NSP? Is 10% under unreasonable? I am a returning jeep customer as well. Thanks to all in advance for any help. I've been a reader for some time now and finally an official user of the site.
  • kwteng2kwteng2 Member Posts: 12
    what are some lease deals that people are getting?
  • listratslistrats Member Posts: 3
    I currently have an offer on the table for $559 a month for a 36 month lease with 12,000 miles per year with 0 down besides the fees and first months payment..taxes are rolled into the monthly payment..

    Realistically how much farther down can I go. Its the Overland 4x4, WITHOUT the technology package. I would love to get it closer to 500 per month if its possible.

    Thanks in advance!
  • franknussfranknuss Member Posts: 3
    edited June 2013
    Live in NYC so expect to pay a bit of a premium, along with higher tax rate. For a 2014 GC Limited w/ Luxury & Tow IV Packages and 20" wheels ($45,080 MSRP) at 36 months/10,000 miles, I'm paying $515/month with a total of $1,415 down (this covered $900 fees + $515 first month). These are my all-in costs for the lease though I stupidly forgot to try to negotiate away the 'disposition' fee of $395 so I guess add that back in.
  • thewiredocthewiredoc Member Posts: 1
    Hi
    Did you ever get that lease? I am interested in a similar deal please let me know how it turned out.
    Thanks
  • sodapop3sodapop3 Member Posts: 5
    I am in Northern California. I a looking to lease a 4x4 Grand Cherokee Overland V6 with the Advanced Technolgy Package, I have received the following offer and would like your feedback. MSRP $46,685, invoice $46,288, selling price $44,488. Lease 36 months, 12k miles, 0 drive off $599 a month, or $5000 down $485 month. Any call outs would be appreciated. This would be my first lease. Thanks.
  • kwteng2kwteng2 Member Posts: 12
    I would never put money down on a lease.
  • steverstever Guest Posts: 52,454

    Please visit the 2014 Jeep Grand Cherokee Lease Questions discussion for current 2014 model year lease questions.

This discussion has been closed.