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2013 and earlier Jeep Grand Cherokee Lease Questions



  • I live in NY. I know I paid tax on the $4500 in rebates, but I believe they were at the 8.625%. and by use I guess you mean tax on the $459 x 27 = $12,393 x 8.625%. Yes I did. I am only paying $459 + reg + title upfront. It is definitely a good deal. I got other quotes of $490 to $500. Keep shopping.
  • has anyone ever heard of a $700 or $750 lease turn in fee (you pay the fee if you do not buy the vehicle and just turn it in)? Dealer is showing this at the end of a 27 month chrysler lease.....

    Thanks, John
  • I am in Michigan and have access to employee discount (father).

    Anyone know exactly what that is? I thought I remember it being 3% below invoice.

    I also have the military family member discount available to me as well. (Same as EP, don't know exactly what that's worth.)

    Looking to get into a JGC 4x4 15kmi/year -- wanted to know how big of a difference it would be between the basic and the X package. Assumed even though X package was a few grand more, the residual value would be higher to help with the cost.

    I've gotten prices so far on the basic package in the ball park of $1k due at signing (includes money down, title, reg, "doc fees", etc.) / $200 month, which I think is a good deal... but still wanted to check in with my internet compadres to see even if this was a good price considering my discounts!
  • Also, in this article right here at edmunds it states yo can usually prepay miles at around 5 cents per mile over the miles allotted in the lease...

    "Usually, you can buy extra miles at five cents per mile and have this rolled into your lease payment. This pay-as-you-go approach prevents any unpleasant surprises at the end of the lease."

    Has anyone ever been able to negotiate extra miles that low for a jeep? I was told it was closer to 10 cents extra on pre pay and 15 cents if you turned it in over miles.
  • Hi,

    I am looking for the money factor and residual on the following if leased in Michigan.

    4x4 Jeep Grand Laredo E package
    4x4 Jeep Grand Laredo X package
    4x4 Jeep Grand LIMITED

    3 year, 15k miles yr.
    27 month, 15k miles yr.

    Help would be much appreciated! Thank you car man!
  • Hello Carman,

    I can not make up my mind on the Overland or the SRT 8. After thinking it over I have decided to get the SRT 8 :) . I want to ask you how much would a 39 month lease be with 5000 down and a sticker price of 45340. I want to ask you before I walk in to the dealership. I do not want any hassle. So can you please give me the monthly payment I would be expecting? Thanks a lot
  • A turn in fee is normal. In fact the standard Chrysler has two fees:

    The residual +$150.00 if you do buy it.
    The turn in fee - depends on the dealer typically $300-500

    Try to negotiate them out!
  • Sorry if this is a duplicate message, my first time.
    I have an 04 GC special edition with 8 months left on the lease - $386/mo with tax. I am getting the following offer from the dealer.

    I can walk from my current lease paying only for any excessive damage. Lease an 07 GC Laredo with fog lamps and an aftermarket sunroof - $30,450 msrp. 10,500 miles per year. It is $440/mo including tax with only first months payment due at signing. How does that sound? Good deal or back to the negotiating table? Thanks!
  • melrammelram Posts: 14
    Can you tell me if this is a good deal based on the current chrysler financial numbers.

    27mo, 12k/yr
    MSRP: $35,650 (Laredo 4x4, 27X package & 4.7 Liter V8)
    NEG Price: $32,410 (2% under invoice)
    Rebates : $5,500 ($3,500+ $1,000 Loyalty + $1,000 Coupon)
    Residual ($18,894), .00031 money factor
    They are quoting $360/mo. including sales tax.
    I would only put down 1st month payment + taxes on rebates + registration fees. Estimated to be around $850 out of pocket. Thanks for any feedback.
  • I hope you did not do that, That is a horrible deal. I leased a 2007 grand cherokee for 27 months out the door NO money down for $310.00. You can do your own oil changes and tire rotation
  • See and you can calculate the lease yourself since you have all of that info.

    Depending on your state tax, it seems you're over paying by about $30/month.

    If you really want the car, I would go in and tell them that you're willing to sign right now @ $330/mo (again, depending on your sales tax -- insert whatever figure there you come up with on your own computations.) and that if they can't do it, you're fine with leaving and going to another dealer. If they come back at $331, shake their hand and tell them you appreciate their time, and you're sorry you couldn't get it worked out. :)
  • I am signing the deal for a GC Limited fully loaded incl DVD, NAV, SAT, V8 HEMI, everything loaded in car except tow package for the following:

    800 at sign
    15k miles year
    27 months
    499 month with tax incl

    The 800 was reduced from 1200 as my dealer is giving me 400 off to pay my last two payments on my GC Special Edition which my lease ends in Feb.

    Just want to know if I can do better. I am kind of settling on another GC as I wanted to go larger in a Yukon or Tahoe but all dealers wanted in excess of $600 for a stripped down model.

    Thanks for any feedback.......
  • I am not to happy with this deal?
    Is it the money factor?

    2007 GC Limited 4wD H Package
    MSRP - 39,335
    Cost after 3,500 rebate - 32,941
    Lease Term - 36 months
    Miles 15K
    Money Factor - .00218
    Residual - 19,274.15
    Acquisition fee 700.00
    Down Payment - 700.73 (Tg, Reg) Wiscosnin taxes based on payment rolled in to payment.
    Payment - 542.78

  • You are getting killed here. I am not certain what the H Package is, but your dealer is taking you for a ride. I am in the NYC Metro ares, and dealers here need to move a certain amount of cars by 1-1-07. So they are crushing numbers to get lease deals signed. My car was not even on the lot they sent someone to get it and I will have it on Tuesday. I believe that the MSRP on the car is close to $44K.

    Try having your lease based upon 27 months, you might get some relief there. Other then that, tell the guy my deal and that you will sign today if he matches. I am not sure of the factors as I just wanted to get to a number and I deal with the sales manager at my dealer since I am a return customer.

    Good luck
  • osuwkosuwk Posts: 3
    2006 grand cherokee limited hemi MSRP $40,700

    $320/mo for 27 months
    $2700 out the door (prepaid taxes+prepaid miles+title&license+documentation fees+1st payment)
    15,000 miles/year
  • Why would you put down 2700????
    Every 1000 down is about 35 per month on the lease. What do you have in the car????
  • osuwkosuwk Posts: 3
    here in ohio a recent law passed saying that you have to pay all taxes upfront and cannot roll them into the payment- unless the dealer pays for the taxes upfront and rolls them into the payment for you. So, taxes on this lease total ~1100 (dont forget you have to pay tax on all the rebates as well). then I paid about 10 cents a mile to upgrade from a 10,500 mile a year lease to a 15,000 mile a year lease. If I rolled those miles into the payments or paid for them at the end, it would have been more expensive. Total, the extra miles came to a little over $1000. Then I had to pay for the first months payment, title, license and a documentation fee. Everything came to $2700. The actual cap cost reduction is actually $0. I went to many dealerships, Jeep, BMW, toyota, honda you name it. When a dealership says 0 down, that's not always the case. Atleast here in Ohio, you have to include taxes, extra miles (10 cents a mile is actually pretty cheap these days--volkswagen for ex was asking 18 cents a mile to prepay for miles) not to mention there is always title license and documentation fees to pay as well at most dealerships here. Lastly, 1000 rolled into the payments would not have been $35, it would have been $55 because most dealerships charge roughly $20 interest for every $1000 you roll into the payment. If they rolled any down payment into the payements at 0% interest--then either they are very generous or need to get rid of a car badly. That's how these jeep dealers for ex make money. They advertise very low monthly payments with large down payments which they know most people dont have the money to pay. So when you go in, they gladly offer to roll the down payment in for you and charge ~$20 for every 1000 they roll in. For example a 2007 grand cherokee laredo advertised for $200/mo with $2000 down for 27 months would actually cost $310 a month if they rolled the $2000 into the payments for the customer (200+35+35+20+20=310)--and dont forget that the $2000 does not include tax or extra miles or license, title or documentation fees either.
  • MSRP: 28,235
    Gross Cap: 21,638
    Residual: 12,195 (56%)
    Lease Rate: .00313

    Mo Dep: 262.34
    Mo Lse Chrg: 105.90
    CA State Tax: 31.30
    TOTAL PAYMENT: 399.54

    no money down. only 1st payment and reg due at signing.

    I asked for 36 month, 15k (my miles ranged 12-14k last 3 yrs). However, i did not yet verify if warranty exp at 36k. if it does i might as well do 39 month to lower payments.

    I feel as if the lease rate is high...equates to 7.51%. but dealer has said b/c he dropped cap cost so much, he has no more room to lower lease charge.

  • Do these deals reflect low lease rate or blind discounting? Does Chrysler really have a good enough credit rating to manipulate the interest rate below 6.5%? =off&setzip=94536&state=CA

    In the above lease, I can put a 66.6% residual and a 0.744% interest rate (0.00031 Money Factor from post #224, above) and make the numbers match up.

    PV = 24,921...30,330 - 3,500 - 1,650 - 259 (MSRP - rebate - Down - fee)
    FV = 17,866.90 - 425 (66.6% residual - turn-in fee)
    I = 0.744% (0.00031)
    N = 27
    equals PMT of 259

    Or I can use the Money Factors shown in post #228 and show a roughly $2,000 blind discount

    PV = 22,849...30,330 - 3,500 - 2,072 - 1,650 - 259 (MSRP - rebate - BLIND -Down - fee)
    FV = 17,866.90 - 425 (66.6% residual - turn-in fee)
    I = 5.23% (0.002179)
    N = 27
    equals PMT of 259

    Or I can use the Money Factors shown in post #233 and show around a 3,000 blind discount

    PV = 21,872...30,330 - 3,500 -3,049 -1,650 - 259 (MSRP - rebate - BLIND -Down - fee)
    FV = 17,866.90 - 425 (66.6% residual - turn-in fee)
    I = 7.51% (0.003129)
    N = 27
    equals PMT of 259

    I am trying to figure out the exact residual and interest rate (money factor) because I am eligible for Chrysler's friends/family/supplier discounts (down to 1% below invoice) and I don't want the dealer to try and "make it up" by not giving me a good interest rate or missing a blind discount.

    Any help on the interest rate and residual for the deal linked above would be appreciated. Thanks!
  • melrammelram Posts: 14
    Just signed the following lease deal today. I am happy with the deal.
    Dealers really willing to negotiate today on these cars.

    27mo, 10.5k/yr
    MSRP: $39,280 (Limited 4x4)
    NEG Price: $35,344
    Rebates : $5,500 ($3,500+ $1,000 Loyalty + $1,000 Coupon)
    Residual: $23,175.20 (59%)
    Money Factor: .001 money factor = (2.40% APR)
    Gross Cap Cost: $36,656 ($35,344 + $700 Acq Fee + Sales tax $612)
    Monthly pmt: $350
    I put down $450 out of pocket.
  • I see several references to a $1,000 coupon. What is this and are there any restrictions to its' use? Thanks in advance....
  • osuwkosuwk Posts: 3
    So in total, did you pay $2082 up front? I just added the $700 acq fee, the $612 sales tax, the $350 fist payment and $450 down payment.
  • A few questions... any help appreciated.

    I am looking to get out of my current lease and was using the pull ahead for my last three payments. They will equal about $1500.

    I am looking to get an 26X/MP3 stereo/u-connect/quadratracII for 27mo and 12K/year. My location is Detoit Michigan suburbs.

    I will have friends and family papers.

    This will be my 5th JGC and I feel I get screwed somehow everytime. I thought with the employee discount there was no need to worry about anything. If I use friends and family and lease through Chrysler Financial is there anything to negotiate. Is it a fixed money factor and residual?

    Any thoughts or help? Thanks in adcance.
  • Some help would be greatly appreciated.

    Please understand my situation.

    I am trading in a 2006 Honda Civic EX 2 door coupe auto transmission with navigation. The Civic has 26,000 Miles (I Know)

    Anyway, I gotta get rid of it.

    I'm getting the 2007 Jeep Grand Cherokee Laredo 4X4

    26X Package
    OWL Tires

    MSRP - $ 36,965.00

    The Dealer is selling me the truck for $ 33,965.00
    Minus the $3,500 rebate
    brings me to $ 30,465.00

    Now with that said They are giving me $15,500. for the civic with a payoff for the loan of $22,500.

    Which now leaves me with $7000 to add on to the new car.

    the deal is written up. I have to put down $4,370.00 to make my car payment $628.99 for 39 months @ 10.5k miles a year.

    I was told my credit is not the best and I'm approved with a Tier D. I pretty much got the dealer to all of their limits possible. I do not think they can go any lower. They are throwing in full maintanace for the life of the lease.

    Any help on this would be great. I'm ready to sign unless someone tells me to go to another dealer or renegotiate.

    Oh and by the way I'm in NY (Long Island) 628.99 includes tax and transfer plates dmv etc.

    Thank you!
  • Hi John. Many banks that lease vehicles charge a disposition fee at lease-end to consumers who choose not to lease another vehicle through them. The last time that I looked into it, Chrysler Financial's disposition fee was $425, but it is possible that it has increased since then. Take a look at the contract that you signed when you originally leased your vehicle. Any lease-end charges that you are liable for should be spelled out in it.

    Prices Paid Forum
  • Here's the info that you're looking for, klanger83. Chrysler Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Jeep Grand Cherokee Laredo 4WD with 15,000 miles per year are .00120 and 44%, respectively. The numbers for an otherwise identical lease of an '07 Grand Cherokee Limited 4WD are .00171 and 47%, respectively. I haven't seen these trucks' 27 month lease parameters, but their 24 month, 15k numbers are .00051 / 51% for the Laredo 4WD and .00100 / 56% for the Limited 4WD. When negotiating your lease on these trucks, make sure to take the $3,500 lease cash that DaimlerChrysler is currently providing on them into account. This cash will help you to negotiate an attractive capitalized cost for your lease.

    Prices Paid Forum
  • Hello crookster. I would be happy to give you an idea of what sort of lease payment to expect on this truck, but in order for me to do so I need you to provide me with its approximate selling price. You may be able to get an idea of how much you will have to pay for it by stopping by the following discussion and checking out how much other community members have paid for Grand Cherokees lately: "Jeep Cherokee (All): Prices Paid & Buying Experience". Let me know what price you're shooting for and I'll crunch some numbers for you. For now I can tell you that you definitely shouldn't make a $5,000 down payment on your lease. Consumers can and should lease any vehicle that they want without making any sort of capitalized cost reduction. I always advise consumers against making large down payments on leased vehicles because those who make them risk losing them if their vehicle is totaled in an accident or stolen and never recovered.

    Prices Paid Forum
  • Hi 4jeeps. DaimlerChrysler often runs an early lease termination program on the Jeep Grand Cherokee that lets current lessees out of their deals early if they lease a new vehicle. However, this program usually only waives up to three remaining lease payments for consumers. Since you have eight months left on your lease, someone is going to have to pay to get you out of your current truck if it is not worth more than its purchase price (chances are it's not). The dealer may be taking some of the profit from the new lease it is offering you and using it to buy out your current lease. If so, chances are you are not getting as good a deal on the new Grand Cherokee as you would if you were not getting out of your current lease early. What is the new truck's selling price? By looking at it, we can tell just how good a deal you are getting on it and decide if you should go for this deal now or wait until you are closer to the scheduled end of your current lease to get something new.

    Prices Paid Forum
  • Hi kindzcar. You never mentioned the selling price or MSRP of the Grand Cherokee that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this truck's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.

    Prices Paid Forum
  • Hi mmorris64. Chrysler Financial's current buy rate lease money factor for a 36 month lease of a 2007 Jeep Grand Cherokee Limited 4WD is .00171. Make sure that this new money factor is used to calculate your truck's monthly payment. Now let's take a look at this truck's selling price. A base 2007 Jeep Grand Cherokee Limited 4WD has a spread of around $3,300 between its full MSRP and dealer invoice price. It looks like you are being given a discount of just under $2,900 on this truck. This selling price looks reasonable to me, but you might be able to beat it by a little if you are in an area that has a decent level of competition. Just make sure that this truck's new money factor is being used to calculate your monthly payment.

    Prices Paid Forum
This discussion has been closed.