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Jeep Commander Prices Paid and Buying Experience
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Dealer says:
The lease payment for 27 months with $2,064.79 cash down is $783.77 per month for that specific vehicle. Residual for 27 months is 52% based on 15k a year with a money factor of .00187 .
39 months with $2,004.31 cash down is $723.29 per month. Residual for 39 months is 44% based on 15k a year with a money factor of .00263
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When I run the calculator on Jeep.com for this vehicle I get an MSRP of 46,095, discount 3,500 and net price of 42,595. With 4,467 down, the payment is $607.
Why do these rates seem so high compared to what I see on this board and in the lease calculator on the Jeep.com site? I'm obviously missing something but what?
Many thanks in advance
Car_man
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I don't know exactly what your monthly payment will be for this truck without knowing what its MSRP and selling price are, but I can tell you right now that it is going to cost more than $200 a month to lease (if you do not make any sort of down payment - which is in your best interest). Let me know what model year you want, its MSRP, and its selling price and I will be happy to calculate an approximate lease payment on the model that you want for you.
Car_man
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Furthermore, you are not being given enough of a discount on this truck's price. DaimlerChrysler is currently providing $2,500 lease cash on the 2007 Jeep Commander. Add this to the $4,000 difference between its MSRP and dealer invoice price and you have $6,500 to play with. I personally would want a larger discount than $3,500 on this truck. Shop around and see if you can do better.
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Based on the selling price of the car being $30045 with $2000 down what would be a good monthly leasing rate?
Thanks
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I am loking at 39 month lease with $0 down. Should I go for it?
Thanks
Looking at a 39 month lease with no money down except first month, bank fees and DMV. 2007 Limited with Nav but no DVD. Being quoted $559 a month with "a couple of hundred in cap cost reduction". I am told the price is $42,800 less the $2,500 incentive. This compute out about right or should i be able to get them a little lower?
Thanks.
Your postings are such a huge help -- thanks! I have a specific deal to consider on an '06 Commander 4.7 V8 "S" Model. I've got employee choice pricing if I buy before 2007. Here are the details:
MSRP 32,630
EC 29,095
DC -6,000
Price $23,095
We want a 36 or 39 month lease, 12K yr. We'll put the first month payment down -- nothing else. We've got great credit so should qualify for the best possible money factor on 2006s. The dealer hasn't called me back with the actual monthly lease price yet, but I wanted to know what you thought it should be based upon the above info.
Do you think there's any chance of getting the dealer to come even further off the price? We're on a tight budget, so
every penny counts... Thanks for your help!
31,789 price
-2500 rebate (i thought it was supposed to be 3500)
-500 (some detroit fee)
1500 down
for 27mo lease, w/ 10,5k miles/yr. (he said 61% residual)
Can you tell me the monthly payments please?
30,817
-2500
-500
=27800
1500k down
27mo, 10.5k,
Can you tell me the monthly payments please?
Do you know the residual value for a 2007 Commander Limited 4X2 with a 5.7l Hemi engine?
Thanks!
Thanks!
MSRP 37690.00
Cash Down 4000.00
39 month lease @ $496.00
15K miles
What can you negotiate? Does anyone know the current incentives for leasing, I can't get the webpage to pull up?
The key to leasing is the following: negotiate your price as though you are going to buy it. Then, when they give you the price, tell them to calculate the terms for leasing at 39 months with 15k miles and $0 down payment. You don't want to make a large down payment (like $4k) on a lease b/c in the event you are in an accident and the vehicle is totaled, you lose the downpayment. Once they tell you the montly payment at $0 downpayment, you can work upwards from there, but again, a smaller down payment is advisable.
Question: Should they be reducing the sticker by $2500? They state this includes sales tax. Are their any other charges they are not telling me? What if we decide to buy or not buy, at the end of the lease are there charges that we need to negotiate now? We are very new to leasing and would like as many pointers as possible. We are talking to the local dealership in a small town, but I'm thinking about calling a big city dealership and maybe getting a better deal, what do you advise? Also is it better to buy less miles and pay at the end or buy more miles and get the money back if they are not used?
Essentially, your total payments should cover the amount the vehicle depreciates over the life of the lease, plus taxes, plus an interest payment for the use of the vehicle (known as a money factor - you can convert any money factor into an interest rate by multiplying the money factor which looks something like .000365 times 2400. The money should be equivalent to prevailing interest rates for buying). The amount the vehicle is worth at the end of the lease is known as the residual value. The residual is higher for a 24 month lease than it is for 39 month lease. I believe I was recently told that the Chrysler residual on a 2007 Commander for a 24 month lease is .52 or 52% of the MSRP.
The longer you lease the vehicle, the more it depreciates and hence, the more you pay overall.
Sales tax is calculated based on the purchase price and you pay for these in increments along with your lease payment each month (i.e., it would be incorporated in the $487/month).
So, the price after the $2500 discount is $32165. Take out your trade in of $2700 ($17500-14800) and the price is $29465. Your payments of $487 per month for 39 months total $18993. That means the residual value is $10472 or 30% of the MSRP. This sounds about right for such a lengthy lease. If you shorten the lease to say 24, 27, or 36 months, your payment will be lower since more of the value of the vehicle will be left over (higher residual).
Other notes:
- Mileage: the higher the miles you purchase, the lower the residual. Consider the mileage you buy in terms of the vehicle's expected daily drive. For example, 12,000 miles is only 32 miles per day for a month. If you don't use the miles at the end of the lease, they do not refund anything for the unused portion. If you go over the limit, what you pay is something like .15 per mile. So, let's say you go over by 10,000 miles, you'll owe $1500. For most people, that's a lot of $$$. However, if, at the end of the lease, you release with the same OEM (Chrysler in this case), they may forgive this little oversight (they did for me on a Dodge Durango). Leasing is the best option, relative to buying a new car, if you stay under the mileage limit.
- Term: you may want to rethink the 39 month lease. I suspect you may want something new again after only 24 or 27 months. Its nice to have a new vehicle every two years and the only money out of pocket to you is the sales tax.
- Down payment: again, keep it $0 or very small. You'd lose that money in the event the vehicle is totaled in a accident.
- Point of reference: I have a 2004 Dodge Durango lease. The terms were 36 months with 12,000 miles and the price was $32000. I put $2500 down and my monthly payment is $393 per month. I believe the interest rates (money factors) are slightly higher for Commanders since Chrysler deems them a near-luxury vehicle.
MSRP $34665
15K miles
Trade In : $17500
Owe : $14800
No cash down
39 month lease
38 payments @ $487
Residual $16292.55
.15 mile overage charge
includes sales tax
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For now I can tell you that $4,000 is too much money to put down when leasing. Consumers can and should lease any vehicle that they are interested in without making any sort of capitalized cost reduction. I say this because if your leased vehicle is totaled in an accident or stolen and never recovered, your down payment essentially disappears.
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I see that you are considering trading in your current vehicle when you lease your new Commander. There's nothing wrong with trading in a car or truck when leasing a new one, but it would be in your best interest to have the dealer that you are working with cut you a check for your trade rather than using the proceeds from it as a down payment for your lease. I always advise consumers not to make large down payments on leased vehicles. Those who make them risk losing them if their leased vehicle is totaled in an accident or stolen and never recovered.
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Does anyone have an E.C. number they can part with? It would be extremely helpful.
Thanks
Also, they gave me these #'s, but I'm not sure what they mean: Pull $1501.40, Cust $1335.20, and EFT $2836.01. Help!
Thanks for you input. :shades:
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was this for a 2006 or 2007 model? thanks
Thanks!!!!!
im swaping a pacifica lease (chrysler financial) so would probably be entitled to lease loyalty, if they're offering anything this month. id like to put down as little as possible.
any idea where my payment should be for 36 months
im willing to do shorter if there is a good program available.
thxs
15k miles and said 39 mo was the best program currently
with 1k at inception - monthly pay was $524.70 plus tax = $558.81 What do you think?
seems a little high to me - my 06 durango stickered at 41k and im paying closer to $475/mo (same terms)