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2013 and earlier Jeep Grand Cherokee Lease Questions

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  • ronaldcronaldc Member Posts: 50
    Hi Evedder:

    With the total miles you need, it would be wiser to simply to buy the GC. In my area, Chrysler is offering $7500 in rebates on the limited or $2000 in rebates with % financing for 72 months. With the dealer discount included, you should be able to purchase this vehicle for under $35000 with the % financing., which will bring your payments under the lease payments.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi evedder. The best way to evaluate your deal is to find out the selling price that you are being charged for the Grand Cherokee that you want and compare it to the truck's dealer invoice price minus any available incentives.

    You can look up the exact invoice price of the truck that you are interested in over in the New Vehicle Pricing section of Edmunds.com.

    In most regions, Chrysler is providing $4,500 customer cash on the '08 Grand Cherokee right now. So shoot for invoice minus the cash as a cap cost for your lease and see what happens.

    As the previous poster suggested, a better option than leasing through an independent bank would probably be to finance this truck through Chrysler Financial at 0% for 6 years and take advantage of $2,000 bonus cash.

    Car_man
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  • snuddenstangsnuddenstang Member Posts: 4
    I was just at the dealer in NJ. Here is the lease deal is was offered.
    2008 JGC Laredo 4X4 with the E package 31,330.00 - affiliates pricing and discounts brings price to 19,995.00.
    39 month lease
    10,000 miles a year
    2200.00 down this includes tax and tags
    payments of 275.00 a month.
    Seem like a good deal?
  • djhalptertdjhalptert Member Posts: 115
    It would be a good deal only if that $2200 down included ONLY tax, title, license fees. If any of that is going towards cap cost I would say no. But even so, I would never put any money down on a lease.

    FYI, if you get this vehicle and it is stolen and never recovered, the insurance company WILL NOT reimburse you for the $2200. Likewise if you are broad sided driving out of the dealer lot and the car is totalled you will not be compensated for your down payment. This is why most people don't put money down on leases.
  • will41will41 Member Posts: 2
    Went to 2 dealers in Northern NJ.

    Here are the numbers:
    Orig. MSRP: 37,880
    Adjusted msrp:35,000
    Cash/Rebate: 12,250 (lease)
    Inception Fees: (2,408) they subtracted this from the cash rebate) to come with a...
    Excess rebate: 9,841.17 (looks like tax to me)

    Also; Supposedly a dealer cost of $35,379
    Selling Price of 31,741
    Down payment: 9,197.36 (apparently this is calced by subtracting 643.81 from the excess rebate)

    Total Cap cost : 23,331.60

    Residual value - 9,800

    39 month lease @ $426

    Does this make any sense?

    Thanks
  • vindieselvindiesel Member Posts: 1
    i'm in central NJ. i've been researching this truck, know prices, residuals, etc. MSRP about $44,000. i can get for 42990 - $7500 in rebates. so $35,490. figure $35,000. i didnt even talk in person yet. just by phone. narrowed down to 2 dealers. other was $40,000 + incentives, so i can get that also for about $35,000, possibly lower. most dealers only offered $4000-5000 on incentives. i am trading in a 07 mazda truck which they will give about $13000 for. i owe about 6,000 more than its worth :( so that $6000 will have to be worked into lease. so with price of $35,000 + the $6,000, i'm lookin at final price of $41,000. i know not smart but i want this beast! the incentives end march 3 so i want to order 1 by end of february. they said about a month to come in. there are NO 09 SRT8s on lots anywhere. here's info:
    price-$41000. $1650 in fees. i'm willing to put another $1500 cash down so like $3150 due at signing. i will not get truck if they need more than this. the residual on 36 month lease with 12000 miles is 36% or $15,840. interest rate about 7-8%. what will payments be? i figured on a few lease calculators which seemed accurate and i get anywhere from $489 to $530 a month. my limit is $500 but i would prob take if i could get for $525. talked to a few idiot dealers and they were talking crazy prices. if we are in a recession, which we currently are, and chrysler is in deep trouble, begging for $4 billion as we speak, they should want to move anything. i'm not getting sucked into paying 600-800/mo just because its an SRT8. what do u guys think? i know chrysler doesn't lease. it would be through another bank. u would think right NOW is perfect time to try to get a deal on this truck....
  • emerine25emerine25 Member Posts: 3
    My lease on my 07 Grand Cherokee limited is up in 65 days (May 09). My residual is 22275. I called Chrysler Financial today and they told me they will not reduce the purchase price on any 07 grand cherokee leases. Is this true?
  • 70wash70wash Member Posts: 13
    Not true at all.

    My 07 GC limited lease is up on May 12th. My residual was the same (22275) and I was immediately offered 2k off w/o any negotiations. And then I was told as it nears expiration, they will offer even more of a discount to get you to buy it.

    Question for Car Man:
    Dealer said they now do leases out of "US Bank" (the fed?), whatever that means. But do you know what the money rate / residual they would offer for an 09 GC limited with:
    27 / 36 months
    10.5k / 12k miles
  • kyfdxkyfdx Moderator Posts: 236,720
    US Bank is an independent commercial bank based in Minneapolis.... Just like Chase or Citi or PNC, etc...

    They've always been big into car leasing...

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

    Edmunds Moderator

  • 80srockgod80srockgod Member Posts: 15
    "My lease on my 07 Grand Cherokee limited is up in 65 days (May 09). My residual is 22275. I called Chrysler Financial today and they told me they will not reduce the purchase price on any 07 grand cherokee leases. Is this true? "

    They were offering discounts on lease end purchases, but they stopped. I spoke with someone there several times, and I was told "well, we stopped offering the discounts but since you already spoke to us about it, we will honor the original discount"

    So, if you logged in to your Chrysler Financial account and actually looked at your lease end options, if the discount was ever there, you could probably get them to honor it. I don't know how they could prove whether or not you actually looked at this page, but if you call and tell them that you thought you saw a discount on the site, and why isn't it there any more, maybe they will go "ask a supervisor" and see if they can re-instate the discount for you.

    In my case, I did not request anything. The girl I was talking to on the phone somehow knew that I already knew, so maybe they either track where you click online, or there were notes on my account from when I had called in previously to ask about the discount?

    Good luck.
  • jdoriajdoria Member Posts: 7
    $20,000 is still too much for an 07 Limited. Im in a similar situation with my 07 Limted, except my lease is over in November.

    After looking online for used prices, checking Galves and Manheim / Adessa auction reports, I think I can get the car $14,000 - $14,500 in November with no problem.

    The 2011 has been introduced which hopefully crushed the resale the 07, and in August the 2010 is released.

    I also hope the auction lots are FULL of these things further driving the prices down where they belong. I am only paying $353 per month on a $40,000 sticker vehicle for 27 months. ($2,000 down) The rates were dirt cheap and the residuals were sky high when I leased. I just it 11,000 miles and the car is in top shape. Its worth $10,000 to $14,000 to me all day for what I need. Any higher, Ill go get another make of car.
  • 70wash70wash Member Posts: 13
    Car Man,

    Could you provide the money rate and residual on a 09 GC w/ 24H package for 10k miles?

    Thanks in advance
  • donnyjeffcoatdonnyjeffcoat Member Posts: 6
    Live in NY Metro Area - currently have a lease that expires in Aug. I was quoted 419 a month for 39 mths w/ 10k miles per year. I would factory order now and get delivery sometime in June. Id lock in this price or get the better one upon delivery. What should i do order now or wait till July and hope that i can get a better deal with the 2010 coming out in Aug.
  • 70wash70wash Member Posts: 13
    Is this $419 payment with 0 down? Taxes not included?
  • donnyjeffcoatdonnyjeffcoat Member Posts: 6
    0 down w/ Tax 1st Month & other Fees upfront
  • ejv207ejv207 Member Posts: 15
    Does sound like you could do a little better than that. So if you take delivery in June you will have to pay 2 car payments for June through August? I don't think Chrysler Financial will take it back early, unless you buy from them, since they are not offering leases anymore. I say wait. Payments total $16,341 + $1,150~1250 taxes + tag,registration fees, etc.. With the state of the economy, they are most likely going to keep incentives going for a while.

    Whats the residual and MF that the finance company is offering you?
  • ejv207ejv207 Member Posts: 15
    Hey did you end up getting this truck? I love the SRT, but I'm happy with the Limited with Hemi.
  • donnyjeffcoatdonnyjeffcoat Member Posts: 6
    .0022 and 29%
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi 70wash. Unfortunately, Chrysler's financial problems has forced it to pull the plug on its lease program. As a result, if you really want to lease a Jeep Grand Cherokee right now you are going to have to do so through an independent bank. Chances are you will be able to find a better deal on a different SUV if you are really set on leasing.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Holy Toledo, donnyjeffcoat, a 29% residual value on a low mileage 39 month lease? Ouch. I personally would never lease any vehicle that had residuals that are that bad. If you really want a Grand Cherokee right now, you would be better off financing it through Chrysler Financial at 0% for 4 years.

    Car_man
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  • donnyjeffcoatdonnyjeffcoat Member Posts: 6
    Anyone know what this months MF and Residual are?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi donnyjeffcoat. Chrysler's financial problems caused it to pull the plug on its special lease programs a while ago. If you really wanted to lease a Grand Cherokee you might be able to do so through an independent bank, but chances are the lease program would be pretty bad.

    If you're set on leasing, you probably should go with a different SUV. If your heart is set on the Grand Cherokee, you probably should take advantage of the cash incentives that are currently available on it and finance it through an independent bank. To be honest with you though, for me personally Chrysler would have to make this truck much, much cheaper than its competitors to convince me to buy one from a bankrupt company. Even if Chrysler eventually emerges just fine from this thing, to me it's not worth the potential hassle to get one unless it's A LOT cheaper than something else.

    Car_man
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  • misterepmisterep Member Posts: 52
    Nobody gives a s#%t about this truck!
  • bytehovenbytehoven Member Posts: 5
    I just bought an '09 Grand Cherokee and I'm very happy with the deal.
  • airoopsairoops Member Posts: 9
    Carman-

    Lease is coming due at the end of the month on my Jeep Grand Cherokee Ltd. My buyout ($20.5k) looks like is maybe $2-4k lower than what the used cars in this range are selling for at local dealers.

    My question is, is it possible to shop the car to some other local area jeep dealers (other than who I purchased the car from) to see if they want to take it off my hands, rather than just hand over the keys in the normal lease end process. This way, I may be able to avoid the turn-in fees and any damage, while the dealer would get the car at a price where they can make some money? Or does Chrysler Financial not allow this?? I am not looking to make any money off the turn-in, just avoid the $400 turn in fee and any damage they try and nickel and dime me on.

    Thanks in advance!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi airoops. It wouldn't hurt to see if any other Chrysler dealers would be willing to give you more for your Grand Cherokee as a trade than it would cost you to purchase it at lease-end. Chances are nothing will come of it, consumers are usually better off just walking away from their leased vehicle at the end of their term, but you never know.

    Car_man
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  • checkercabcheckercab Member Posts: 10
    Hi Car_man,

    I am in New York and my 2007 Jeep Grand Cherokee lease runs out at the end of November. I was considering leasing another Jeep Grand Cherokee and have a credit score of 800. I will also be getting a CDI number from a family member who works for Chrysler.
    My question is given all the new incentives and rebates that were just announced for the Northeast, my owner loyalty and CDI number approximately how much savings might I be looking at at leasing a new Jeep Grand Cherokee.

    Thank you for your help.
  • realtorken1realtorken1 Member Posts: 14
    $30,500 for a 2010 Jeep Grand Cherokee Laredo X V6 with Leather and Navigation

    Didn't haggle too much so I'm sure I left plenty of money on the table but still just wanted to post the price I got when I turned in my 2007 GC Lease
  • rockinrollerrockinroller Member Posts: 4
    My lease is up 10/2010 and I'd like to try to avoid the $425 turn in fee. I know buying or leasing another Chrysler product will cause the waiver of that fee but does anyone know what the timeline limitations are to do that (i.e. can I buy now and have it waived when it's turn-in time, or buy a few months after the turn in date)?
  • j13ntvj13ntv Member Posts: 7
    Hello Car_man,

    Do you have the residual and money factor for current jeep grand cherokee? I see they are running near 7k in rebates for the northeast in regards to leases. 15k 36 m 2010 Limited hemi 4wd and 2010 Laredo 4wd

    Thank you
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi j13ntv. Chrysler is scheduled to introduce new incentives for March some time later on today. If you post a reminder for me in a day or two I will gladly fill you in on what I have been able to find out about its new program.

    For now I can tell you that Chrysler was not providing any lease support on the 2010 Jeep Grand Cherokee in February. That means that if you were to lease one through GMAC, you would have to use its standard lease program. GMAC's standard lease rate for Chrysler leases was 5.46% in February. Its 36 month, 15,000 mile per year residual value for the 2010 Grand Cherokee Limited 4WD was an atrocious 34%. The resid for an otherwise identical lease of a Grand Cherokee Laredo 4WD was an even worse 30%.

    Car_man
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  • bf740bf740 Member Posts: 3
    Have a Jeep lease coming up in a few months. Anyone know if Chrysler Financial still offers PLPP (Preferred Lessee Purchase Price) buyouts for leases that are due to be turned in?
  • leewolf99leewolf99 Member Posts: 1
    Car-man...any updates on Jeep GCL rates and residuals? I went into a dealership today and I get the sense there are still similar to the February numbers you posted, which is not good news...
  • vincap28vincap28 Member Posts: 4
    Car Man,

    I have a 2007 GC Overland that is due to be turned in this July. I really enjoy thsi vehicle and am considering purchasing it at lease end. Do you have any feedback on what I can expect deal wise? The residual is around $21,000, do you think they will give me a better price rather than take it back? Do you know what rates they have if I want to finance the purchase with them?

    Vincap28
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey leewolf99. The feeling that you got when you visited the dealership was correct. If you really want to lease, the Grand Cherokee is not the vehicle for you.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi vincap28. It's difficult to say whether Chrysler Financial will be willing to work with you on your vehicle's purchase price. This situation is even more difficult to red than normal because Chrysler Financial essentially no longer exists. Chrysler leases are now run through GMAC.

    The only way to find out for certain whether they will be willing to negotiate your car' purchase option price is to give them a call directly and see what happens.

    Car_man
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  • schneller78schneller78 Member Posts: 21
    Do you have any leasing information on the brand new Grand Cherokee? Specifically looking at 12k/36. Money Factor and Residuals.

    Thanks Car Man!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi schneller78. Unfortunately, Chrysler is not currently providing any lease support on the 2010 Jeep Grand Cherokee. As a result, it's not a very attractive SUV to lease right now. If you're set on leasing, you probably would be better off going with a different truck.

    If you really want to get a Grand Cherokee, I personally think that you'd be better off financing it using Chrysler's current special rates of 0% for 5 years or 1.9% for 6 years.

    Car_man
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  • rave65rave65 Member Posts: 1
    Were you really talking about the 2010 Jeep Grand Cherokee in your posting earlier today when you said: "Unfortunately, Chrysler is not currently providing any lease support on the 2010 Jeep Grand Cherokee." Or did you mean the 2011 model, which I think the question referred to? I am also considering the 2011 model, but the dealer told me that Chrysler has not released the lease figures yet. Do you have any info on that?
  • aces_fullaces_full Member Posts: 16
    Has anyone heard of possible rebates or incentives on the 2011 Grand Cherokee? A dealer gave me the residual and money factor numbers below for 36mo/12k lease for the Lardeo:
    Money factor (as APR) - 1.64%
    Residual - 48%

    When I calculated the lease payment above (with MA 6.25% tax), it came out to roughly $450/mo for the base laredo with no options, and that was at invoice.

    Has anyone purchased or leased one yet?
  • dkquinndkquinn Member Posts: 4
    I am also wondering? I have a 2007 GC coming off lease 8/15. Spoke to one dealer the other day and he told me they were still waiting on numbers. I wouldnt count on any huge incentives on a newly released vehicle... Would be nice though if Jeep took care of it's repeat customers.
  • southpaw75southpaw75 Member Posts: 33
    Saw a silver one parked in my local dealer's lot. Sticker was $38k. I wonder what they will let these go for early on. Not a whole lot of markup.
  • aces_fullaces_full Member Posts: 16
    Yeah, the dealer i went to last would not budge or even let me drive it! I saw an ad in this weeks paper though that looks like they have softened somewhat - I'm pretty sure you can now get $2,000 off sticker, if not, off of invoice. I'm going to drive one tonight at another dealer. I might go with a G37x instead (much better lease) although i will miss having an SUV.
  • jeep5194jeep5194 Member Posts: 7
    Looking to lease a 2011 GC Overland 15k/yr. Can you assist with August residual and money factor? I'm thinking the residual might be slighly different for the Overland.

    I would appreciate anyone's help...
  • cars1235cars1235 Member Posts: 1
    Do you think it's best to go with a different dealership to return the lease or to the original dealership? Original says payout is 16.4K for GC 2007 and I've never leased before but am now looking for a used Honda with much better gas mileage.
  • valenkavvalenkav Member Posts: 18
    Car_man,
    Any info about August MF & RV to lease 2011 JGC OVERLAND 36/12K?
    Is $1,500 Loyalty Bonus Cash still active? Thank you in advance.
  • roundersrounders Member Posts: 3
    2011 GC Laredo X Package with NAV...MSRP is $37,390

    36 Month Lease/12K miles per year

    $1K out of pocket...$555 per month including NY State Tax of 8.875% and tags
  • valenkavvalenkav Member Posts: 18
    Hi rounders,
    If Sale Price is around Invoice = $35,300,
    if $1,000 is your Down , MF (as APR ) is 1.64%
    and RV=48%, if bank (acquisition) fee = $700,
    I think your monthly (OTD) =$555 (I got $554.94!)
    is about right. Enjoy your Laredo!!
  • tkln97tkln97 Member Posts: 3
    Hi...may I ask which dealership in NY you got this from? I got a quote for a Laredo X with Hemi this weekend on LI, $4K out of of pocket, $489/month...
  • misterepmisterep Member Posts: 52
    JGC-Limited.

    The controls were different...but i could get used to them. Acceleration was good but the lag was very disappointing. The steering wheel felt nice but the car handled like a barge with a large turning radius. The overall ride I would put in the troop carrier category. Whatever happened to those big cushy seats in the Limiteds? the current seats are very thin and ,subsequently, hard and made for an uncomfortable ride. I like the bigger space but the fold down seats seem to leave a gap behind the fromt seats. Guess I expected more for $44.000.

    I was offered a small repeat customer discount (4%) on deal and no incentives are available...36/12 lease was around 620 before tax. I don't offroad so I am now shopping the X5 and new Cadillac SUV now....or keep the ol 2000 !
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