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2013 and earlier Jeep Grand Cherokee Lease Questions
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I see that you are considering making a $3,000 down payment on your lease. I always advise community members against making down payments on leased vehicles because if their car or truck is stolen and never recovered or totaled in an accident their down payment would essentially disappear. You would bee better off keeping the $3,000 in the bank and using it to supplement or make a few of your monthly payments.
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Wondering if you can help me out...What is best monthly lease monthly payment for the following car-
$31,685 is MSRP
cap cost 30412
+700 acq fee
w/ 4500 in rebates
2,000 total down
27 months
15k per year
What should be my payment/lease factor/resid...on a great deal? I see they are advertising 269 mo. 27 mo..12k mile per year for a stripper...total 999 down. My payment coming in mid 350s w/ sales tax. AShould be better I think....Also, the resid @ 16.1K. Thanks in advance- great forum...
$28,110 MSRP
$25,639 Gross Cap Cost
$ 4,500 Rebate
$21,139 Net Cap Cost
$12,087 Residual (39 months, 43%)
.000850 Money Factor
They are quoting me additional costs of: a $700 Lease Inception Fee, $398.75 Cap License Fee, $315 sales tax (on the $4500 rebate), $116.50 License title doc fee, and $332.79 first months payment.
I have no problems with the Cap cost,money factor etc... but all of these additional fees seem excessive (I realize the title fee is standard as is the first months payment)
Any light you could shine on this would be greatly appreciated.
Thanks
Here's my story. I'm in the market for a '06 Jeep GC Ltd with the 5.7L Hemi. I had done my homework and knew what the magic number needed to be to drive home in a new Jeep. Did initial research online and found a few dealers that had the truck I was interested in. Des Plaines being one of them. Went over to Des Plaines yesterday afternoon. Sales guys were actually really nice, very knowledgeable and weren't pressuring at all. The GM got involved and to my initial pleasure, we came to a deal. Shook hands, they started the paper work, high fives were exchanged, the car was sent to the service bay for detailing, I called my insurance agent...the whole nine yards.
Spent the next THREE hours in the dealership as I was told the finance manger was busy and that he would be available shortly to complete the paper work. They were sorry.
Another hour later, I was asked to go into an office as the sales manager approaches me and said "Hey buddy, come over here." Hey buddy???
Long story short, they rescinded the deal saying they had made a mistake in the initial calculations. Blah..blah..blah... (FYI, i have "A" credit, so that had nothing to do with the "mistake.")
The next hour was a fairly heated exchange between myself, the sales manager, the finance manger, general manger, you name it...I spoke with them. They said it was a mistake but I think that's BS.
My issues are two fold. One, they didn't honor a deal we made in person! Two, it took them more than three hours to approach me with the news. I can only assume they were trying to keep me there as long as possible so as to wear me out!
In my book, once you agree to do something, you make it happen. If they made a mistake, they should have honored the price. In all my experience in buying a car, I have never heard of anything like this.
Feel free to send me an email and I can get into more details. Please friends, avoid this place like fresh spinach from california and tell all of your friends to do the same.
I am looking to lease a 2006 Jeep Grand Cherokee 4X4 with an MSRP of 36,900. I have been told that the residual on the car is 49%, but given what I've read here, it appears that I'm being quoted too low. Is the residual still 55%? Also, what would be a good lease payment on that car with 0 down and 12K miles a year?
Thanks.
Inception fee is usually $600-700 for most lease deals, but is usually rolled into the final cap cost. I assume $700 is standard for Jeep? You usually pay your license fee up front, so that's OK. Doc fees can be jacked up, but in CA they're fixed by the state at $45.
Also, I think your payment is high, given the numbers you threw out. Including 7.0% tax it should be $298/mo.
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I know I didn't get any of the good info (the MSRP on the web site states $40,740, guess that doesn't help!) but off hand, can anyone tell me if this is a good deal?
I'm torn between this and an FX35, simply because I have a GC now that I can get out of early and Chrysler will pick up the payments...thanks!
MSRP $30,205.00
Price $28,488.00 + aftermkt $179.00
Rate .00052
Residual .52
Residual $15,706.60
Total Rebates $6,500
Gov't Fees $165.00
Taxes $877.78
Doc Fee $249.00
Monthly Pmt $346.51
He said it would be a sign & drive.... Am I missing anything?
Great website!!!
I am an amateur at this, but I do have a few questions...
I have a Jeep Liberty that I want to give back about 4 months early. My payments are $250/month.
This is in NY.
I am looking at a basic 2006 GC that I believe goes for about $29,000. They told me they had excellent lease promotions on this truck.
I guess since I am ignorant and an amateur at all this, I didn't know what questions to ask. So I don't know how much the rebates are, or anything. I think I am getting ripped off...
They are saying the car is $29,000. I believe there is about $3500 in rebates, plus since I am a returning lease customer, I get something for that. But, I still do owe over a $1,000 on the Liberty that they are paying off...
Anyway, they quoted me $319 + 2500 down as their best price.
I told them I didn't want to put much down. So they came back to me with $700 down and $374 a month after another 30 minutes of negotiating...
I agreed to this price and left a deposit for the car. But after reading this site and a few others, I think I made a mistake.
My question is, is this way too much for the '06 GC Laredo?
No packages. No leather.
I also have another problem. Although I always paid my Chrysler financial bill on time, my credit has gone to garbage in the last 2 years because of some personal problems.... Will this greatly effect the price of the car, even after I agree to the initial price? My FICA is probably about 600. Horrible!!!
I can get a co-signer if I need one with excellent credit.
Any help on this would be hugely appreciated.
Grand Cherokee ltd
24 month lease with 25k miles per year
milage $.12 upfront $.15 over miles
msrp $42,525
price $39,764
money factor .0081
residual 57%
residual $21839.25
taxes $1867.74
rebates $2500.00
sign and drive deal
payment 799.64
How does this look
1. Cap Cost $39,764
Taxes 1,867
Rebates (2,500)
Net Cap Cost 39,131
Residual (24,239) (42,525 X .57)
Net Depr 14,892/24 months = 620.50
Interest 39,131 + 24,239 X.00081 = 51.32
Total before mileage adjustment 671.82
Total Miles needed 50,000
Total Miles allowed 24,000 ?
Excess 26,000 X.12 = $3120/24= 130.00
Total Lease Charge 801.82
Your Payment 799.64
Difference ??? Your favor 2.18
Sunroof, Quadradrive, Leather, Parking Sensors, 6 disc CD, Trail Rated, etc.
MSRP around $41,000, tons of rebates brought it down to around $30K.
Downpayment: $2500
10,500 miles per year
356/month payment
Let me know if this sounds reasonable or if I should try to bargain them down a little. I don't know much about lease features, just what payments were offered...
Thanks!
Basic GC plus pinstriping, fabric and paint protectant, for an sticker price of about $29K
Dealer discounted $1500 (was this enough?)
Rebates totaling $7500
Total fees including acqusition built back into cap cost = $800
Remaining lease payments on turn in GC - $867
27 month lease with 12K miles a year, monthly payment $278.00 including 9% state and local taxes in the payment.
I think I got a great deal as a result of all the rebates, but suspect the dealer made out fine with only discounting $1400 too.
Car had some sap spots from being on the lot so long, so they are giving it a clay bath. Sound legitimate?
Wow...can you describe the 'tons of rebates' that got you to that price? Thanks....
how would the incentives work if you were to lease or buy?
on jeep's website it says:
- 2006 jgc
- $4500 cash allowance for purchase
- $3500 lease cash + $2000 bonus cash + $1000 loyalty cash for lease
so, if you were to lease a 06 gc, would you apply $6500 towards the cap cost?
but if you purchased it, you would get only a $4500 incentive?
what are the lease terms (money factor) for the 2006 gc?
thanks.
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What you were told is correct, DaimlerChrysler's lease program for the 2006 Jeep Grand Cherokee is pretty good right now. While it is normally not a good idea to get out of leases early (it can be very expensive), I believe that Chrysler Financial is running a lease pull-ahead program on the 2006 Jeep Grand Cherokee right now. This program will waive up to three remaining lease payments for current Chrysler Financial lessees of any vehicle if they lease a new Jeep Grand Cherokee. This program should cover three of your four remaining monthly payments.
In your post you mentioned that the dealer said this truck's price is $29,000. Is this its MSRP or selling price? Either way, I need you to provide me with both numbers to give you a detailed assessment of this deal. Let me know what these numbers are and I will tell you what I think.
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Chrysler Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Jeep Grand Cherokee Limited 4WD with 15,000 miles per year are right in line with the numbers that you were quoted, .00081 (you missed a "0" in there) and 57%, respectively.
The bottom line is that this id a decent deal. See if you can negotiate the selling price down a little bit, if not this deal is still pretty good.
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You never mentioned how long the lease that you are considering is, so for now I will assume that it is 36 months. Let me know if you want something different. According to my calculations, if you were to lease a 2006 Jeep Grand Cherokee Limited 4WD with an MSRP of $41,000 and a selling price of $30,000 through Chrysler Financial right now for 36 months with 10,500 miles per year, your zero down, pre-tax monthly payment should be around $344. As you can see, this payment is a little less than yours, probably even when sales tax is figured in because I worked up a zero down lease. Consumers can and should any vehicle that they want without making any sort of capitalized cost reduction. Consumers who make large down payments on leased vehicles risk losing them if their vehicles are totaled in an accident or stolen and never recovered. You should only pay your truck's first month's payment, security deposit, and acquisition fee at signing.
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Is this a fair deal?
Thanks.
The car is a 2007 jeep grand cherokee laredo 2wd with the 3.7 liter V6 engine in the black clear coat paint. it is also equipped with cloth interior, am/fm/cd, and the entire 26e laredo pkg. the msrp is $28,580
I can purchase the car for $23,900 which is invoice less rebate less half of the holdback.
Based on this information can you figure the lease on a 36 month 15k mile 0 down situation.
I appreciate the help!
If you are set on getting a new Jeep Grand Cherokee now, I would be happy to give you my opinion of this deal. However, you never mentioned the selling price of the truck that you are interested in leasing. This is an important number 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 the price of the Jeep that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary 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 its selling price is.
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27 months @ 369/month with 12k miles.
Limited
0 down, taxes up front.
I also got the wood trim/chrome grill package