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2013 and earlier Jeep Grand Cherokee Lease Questions

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  • ucla56ucla56 Member Posts: 13
    I'm confused about lease rate. What money factor does a lease rate of 0.4 equate to?
  • jeepgc12jeepgc12 Member Posts: 3
    I believe a 0.4% interest rate equates to .000167 MF, and a 0.55% interest rate (mine) equates to a .000229 MF.

    Apparently Allied no longer uses MF and instead uses interest rates because MF just confuses everyone!
  • jmza2jmza2 Member Posts: 4
    This is my first time leasing and I want to make sure I am getting a good deal on the car. Here are the particulars:

    2012 Jeep GC Overland
    MSRP: $47,585
    Negotiated Price: $41,985
    Terms: 36 Month w/ 15k miles @ .55 interest through Ally (I don't think they do money factor)
    The sales reps also told me he factored in the $1,500 lease incentive.
    Monthly cost $559 + $36 in tax = $595 total

    I'm negotiating on the phone right now as I don't believe in going to the dealer unless the price is firm.
  • jmza2jmza2 Member Posts: 4
    also tossing $2,000 at it as a down payment.
  • jordanhojojordanhojo Member Posts: 4
    In Chicago, on top of the 10.25% tax (which is charged on the ENTIRE price of the car, not just the portion for the lease), there is an 8% "use" tax that is charged on each lease payment. Very expensive to lease in Chicago.
  • chiguy5chiguy5 Member Posts: 1
    Just leased an Overland for 610/mo 12K/year, 0 down, all in including tax. I am in Chicago Northern burbs.
  • jordanhojojordanhojo Member Posts: 4
    Chiguy - The city of Chicago charges an extra 8% - not applicable in Burbs. Where did you get your lease from? I'm looking to lease shortly and my leases for $0 down were coming out to be $650 for a Laredo X with 20s.
  • slu2012slu2012 Member Posts: 1
    Hello I am new to this forum, On April 26 I leased a 2012 Jeep GC basic model for $363 a month. All I had to put down was first month. It has been a month and Ally has no record of the lease being finalized, so I can not make a payment. I called Jeep yesterday and they said Ally needs proof a residency. Hear is the problem, I leased the jeep in a state I will be moving to in one month, so at this time I do not have proof of residency to give Ally. Jeep knew this when we made the deal, but now they are saying Alley needs proof a residency which I can not give. Does anyone have any idea what can be done or what might happen? Thanks for your help.
  • ucla56ucla56 Member Posts: 13
    What is MF and residual for Grand Cherokee Laredo X 2wd for 12000 miles and 36months?
    Any way to lease through someone other than ally?
  • rackermanrackerman Member Posts: 8
    I'm new here so i apologize in adavance for any stupid quesitons. I am looking to lease a new 12' JGC Overlander - 3 yrs 39 months and i want see if anyone knows the current interest rate (or MF) and the residual value on the car. If you do respond can you confirm which bank provided you with those figures.

    Thank you.
  • kcjr81kcjr81 Member Posts: 17
    Hi. What is the current residual and money factor for a Grand Cherokee Limited V8 on a 36 month 12k miles a year lease?
  • kkcar2kkcar2 Member Posts: 1
    Car man

    I was quoted for JGC Laredo with X and E package a 38625 msrp with selling cost 36285. They quoted a money factor of .0012 that I think equates to 2.88%. They didn't mention the bank but seems fairly high. Residual was 55% for 12k and 39month lease. Any thoughts on what money factor is this month?
  • stevernstevern Member Posts: 41
    Hi Car_Man,

    Can you please list the MF & Residual for a 2012 JGC 4x4 Laredo E Package for 12k/36 months? You have been so helpful for all my leases in the past and I appreciate any info you can give.

    Thanks!
    Steve
  • stevernstevern Member Posts: 41
    Hi Car_Man,

    Can you please post the residual and MF for a 2012 JGC Laredo 4x4 for 3yrs/36k? Many thanks,

    Steve
  • cnote2cnote2 Member Posts: 140
    MF and residual for a Altitude 4x2 for 36m 12k miles in the northeast. any cash incentives as well?

    thanks in advance.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello stevern. Ally's current base lease rate and residual value for a 36-month lease of a 2012 Jeep Grand Cherokee Laredo 4WD with 12,000 miles per year are 0.02% and 51%, respectively.

    When negotiating your deal on this truck, make sure to take advantage of the $1,500 cash incentive that is currently available on leases of it.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi cnote2. I haven't seen any numbers for the Grand Cherokee Attitude. Is this new trim level considered to be a variant of the Limited or Overland models? If not, then Chrysler has not published a lease program for it yet.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • danimal77danimal77 Member Posts: 17
    32,330 MSRP base 4x4 Grand Cherokee Laredo

    Can someone tell me what's the absolute best lease deal on this vehicle with 12k/36 or 39 mo lease? I've been offered $360 per month payment (includes tax of 6.75) and that is with 2,000 cash due at signing.

    I don't know what the actual sale price is but it's probably around 30,000. Dealer said there is 1,500 insentive and then they can deduct additional $500 but not more.

    Thoughts? Thank you so much!
  • cnote2cnote2 Member Posts: 140
    Hello Car man, i think its it own trim level but i am not sure how jeep is handling it with regards to leases. it runs around 38k-40k, i think the limited trim runs similary. maybe give me the numbers on that trim and that will give me the general idea of the cost.
  • danimal77danimal77 Member Posts: 17
    Jeep dealer in Ohio showed us lease specials on Grand Cherokee Laredo and X with leather and sunroof plus other equipment. All prices were under $400 including taxes with $2000 total due at signing that includes 1st payment. "base" 4x4 was like $339mo plus tax on 39mo with 12k. I think X (or whatever model has leather and sunroof) was $369 plus tax same terms as above.

    Can someone share their REAL LIFE experience with 2012 Grand Cherokee, particularly gas mileage. What is the average you get in the city and freeway? I know what EPA estimates are but what's your real life experience? Thanks for sharing.
  • ledeenledeen Member Posts: 1
    I owned a 2001 Jeep Grand Cherokee Limited for about 6 years, and it was my best car...... loved it . It was so solid and stayed that way through to when I sold it at 125K Miles.

    The gas mileage wasn't great. About 17 -20 average. Also service prices were very very high. However that wasn't until I hot about 70K miles..

    After trying a supposedly less expensive car (VW Passat) turns out it cost me just as much as a new Laredo would cost me on a lease, and there is a world of difference. I loved my Jeep! Great great automobile.
  • amznamzn Member Posts: 6
    edited July 2012
    hi Car_man,

    I leased a 2012 Grand Cherokee Laredo Altitude 4x4 5.7L from Lithia about 10 days ago. The price is great: MSRP ~$42K. The price before TTL is ~$36K which is used to calculate the down payment and monthly payments.

    However, there's a serious problem that I identified after I drove it a couple days. The RPM would go up to 4k+ while the car was not gaining much speed (40-50 miles per hour), each time after I drove the car for 30-60 minutes. The only thing I did was turning on the air conditioning, before or while I was accelerating on the ramp to get onto the highway - then there's noticeable increase with the RPM to 4K+ while other parameters remained about the same. Typically the RPM stays in 1K to 2K range. The typically toggling "ECO" indicator disappeared. It seemed that the 8 cylinder mode is running. There must be something wrong with the transmission, or some sensors.

    I have a couple of questions:
    1) the lease is with the Ally bank. Should Ally, Chrysler, or the Lithia dealer be taking care of the problem?
    2) This is a brand new Jeep. When I leased it, the mileage is less than 50. Is this considered a lemon car such that the lease should be invalidated?
    3) I called the dealer. they were hesitating that I use the 24-hour assistance/towing service. they said they will have the service department to pick up the Jeep tomorrow. Do you think I should actually insist on using the Jeep 24-towing service, and/or tow the car to a different dealer (5 miles away) so that they can independently check the Jeep?

    thanks for your help.
  • mikeyp53mikeyp53 Member Posts: 55
    Real life experience with GC Laredo 4X4 with 4.7 liter engine is 14 city and 21 highway on a good day. I love the car and it tows nicely but its thirsty versus other cars but it will tow 6500 lbs. Try that with your Honda Accord!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi amzn. Both Chrysler and Ally are going to tell you to take your vehicle back to the dealership to get it checked out. If there is a transmission problem, perhaps it is a known issue that the dealer can fix relatively easily. Let's hope. If you are uncomfortable driving it to the dealer, you probably can have them tow it in.

    You won't be able to have your truck declared a lemon until this probably persists for quite some time with several unsuccessful attempts by the dealer to repair it.

    Car_man
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  • 510akcali510akcali Member Posts: 2
    Hi Car_Man,

    Can you please post residuals and money factors for a 2012 Jeep Cherokee Altitude 4X2 and 4X4 for 39 months 15k/yr. Is there a residual change for a V8 or V6 as well. The availability of these cars are light so I have to be pretty open.

    Also do you know of the lease incentives or rebates.

    Thanks for all your help Car_Man you are a life saver!
  • amznamzn Member Posts: 6
    edited August 2012
    Thanks very much Car_man for your note. I had the dealer looked at the car, and they couldn't replicate the problem. I picked up the car this afternoon and drove it for 3 hours and didn't see the issue that I had several days ago. I'll just assume that the problem is gone. Plus I can always manually shift up the gear levels if the problem happens again. Before the Jeep, I had a two-year lease of a Ford Fusion, which at one time locked itself and couldn't move on the highway. I took it to the dealer but they never figured out what happened. The problem never happened again. I'll just assume that this Jeep issue is a one-off thing. Other than that, I like the Jeep very much and have been enjoying driving it.
  • mook12mook12 Member Posts: 61
    Hi guys, I need some feedback on whether it is a good price to buy at the end of the lease. I leased a 11 grand Cherokee limited with just about everything. Msrp was $44500 $1700 out of pocket includes all costs, tax, ect and my monthly is $509 36 months 12000miles yearly, so the buyout is $19700 after the lease the negotiated price was around $34000 minus the lease payments equaling the buyout price. Would anybody buy it for that price of $19700. Thanks
  • kafrankkafrank Member Posts: 1
    Hi danimal77, I am shopping for a GC Laredo with the E package in Ohio and I think that dealer's lease prices are very good . Could you please let me know which dealer you were working with? Many thanks!
  • karrphkarrph Member Posts: 2
    i've never leased a car before so I'm looking for some guidance here. i came across several lease agencies offering a 2012 jeep laredo for about 350 for 36 mo including all fees/taxes and nothing down. i'm responsible for my 1st months payment. does this sound like a good deal? has anyone had any experience with lease agencies before? how are they able to offer a better deal than the dealers?
  • rscogsrscogs Member Posts: 4
    Just an FYI. I wasn't as knowledgable as I am now but I noticed that Ally is sort of hiding an expense and I'd like everyone to know. This happened to me with the 2011 JGC. To sum it up with whole numbers to make it understandable. My JGCLX was 36000. The residual ( How much worth afar 39 months ) is 19000. Between the adjusted cost and taxes and interest you can figure out the payment. The issue here is that they lower the residual to around 54%. You pay 17 out of 36k and they claim the vehicle is only worth 19k after 39 months which is low so you do more principle paying than you should. Then after that, on the bottom of the agreement is that at the end of the lease, the purchase price is 21,500k. That's not the price of the residual. If you buy it you will pay 2500 more than what it's worth and what you should owe. Who will do that? So YOU pay 2500 extra than what is probably the REAL residual. The bank sells it to the dealership for more than 1900. They make money, then the dealership sells it. Total scam. If you want my JGCLX for the next 27 months. 409 per mnth. Take it from me not them. NYC. I wonder if the dealership pays taxes on the purchase from the bank? I bet not!
  • autoalautoal Member Posts: 24
    Car_man,

    Could you please provide me with the MF and residual on a 2012 GC Overland V8? My understanding is that Jeep uses several financing instructions. Thanks for your help.

    Brooklyn guy.
  • autoalautoal Member Posts: 24
    Sorry Car_Man,

    Please let me clarify: I'm looking for the MF and residual on a 2012 JGC Overland V8 on 39 Month Lease (sweet spot I'm told) with 12K in the New York area.

    Thanks for all your help.

    Brooklyn man.
  • automan822automan822 Member Posts: 83
    FINALLY, i wrote about this in May 2011, I walked out of the finance department because of this exact situation, wrote about it here, and no one even blinked an eye. If you lease any Dodge, Jeep, or Chrysler product through Ally you get ripped, don't lease from these crooks. Here's why lets say you lease a Jeep and the Residual is $17,000 (Which is what your buy out should be also), you drive the miles allowed, keep it in good shape, at the end of the lease hey i could sell this for $18,500 (which you can do), oh but if I want to buy it I have to pay $19,500 WHAT, had over 20 leases in the last 30 years, never ever seen anything like this total rip off. Seriously people wake the F--- up
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    edited August 2012
    Here you go Brooklyn guy. Ally's August base lease rate and residual value for a 39-month lease of a 2012 Jeep Grand Cherokee Overland V8 with 12,000 miles per year are 0.6% and 44%, respectively.

    When negotiating your deal on this truck, make sure to take advantage of the $1,500 cash incentive that is currently available on leases of it.

    Car_man
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  • lakesidedreamslakesidedreams Member Posts: 2
    1st - Why does every car dealer try to screw people on leases!?!? You sure can just walk out but I'm getting to the point where I have to lease 1 or 2 states away! I've been blatantly lied to more times in the last 2 days of car shopping regarding leasing than I can count.

    2nd - Any chance anyone can tell me what the tier 1 MF and residual is for a '12 Jeep GC Limited 4x4?

    I've spent time putting together a lease breakdown to take back to that last dealer in the morning and tell them this is it or no deal. The lease sheets this particular dealer sends you out with don't list all the lease details and so I ran the numbers and they're of course hiding thousands of dollars somewhere. Frustrating!
  • normiesnormies Member Posts: 9
    Hi Car_man,

    Can you please post the base lease rate and residual for the following?

    2013 Grand Cherokee Limited 4X2 - 36 months/15K a year

    2013 Grand Cherokee Limited 4X2 - 36 months/12K a year

    We're looking in San Diego, CA.

    Thanks so much,

    Brett
  • dewarsandsodadewarsandsoda Member Posts: 207
    Hi Brett,
    While I don't know the base rate MF nor RV for lease terms in question, I leased our GC Ltd 4x4 from Bob Baker in Carlsbad. I worked with their internet sales team, and I would suggest contacting the gentleman with the initials NR or his boss. They were transparent on MF and RV which were identical to the rates that CarMan provided. It was seamless transaction as everything was done over email and phone, and I simply picked up the truck.

    Cheers!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi lakesidedreams. Ally's September base lease rate and residual value for a 36-month lease of a 2012 Jeep Grand Cherokee Limited 4WD with 15,000 miles per year are 0.57% and 45%, respectively.

    When negotiating your deal on this truck, make sure to take advantage of the $1,500 cash incentive that is currently available on leases of it.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for, normies. Ally's September base lease rate and residual value for a 36-month lease of a 2013 Jeep Grand Cherokee Limited 2WD with 15,000 miles per year are 3.55% and 48%.

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

    Car_man
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  • paradiddle7paradiddle7 Member Posts: 63
    edited September 2012
    Car_man, what would be the residual and MF on a 2012 Grand Cherokee Limited for a 10k and 12k lease? My Audi Q5 lease is over on December 15th; do you think that the lease cash incentive will continue to go up as time goes on? I believe I saw there were well over 120 of the 2012 Limited vehicles available in my area that matched my specifications.

    Are the numbers and incentive the same for the Overland and Laredo trim models?

    I'm assuming that leasing a 2012 is a better deal as the interest looks negligible and there's $1500 incentive, but if the 2013 has a much higher residual it might not be that much of a difference. If the cash incentive goes up over time, then the 2012 gets more attractive to me as December rolls around.

    Thanks much for your expertise and time!
  • rscogsrscogs Member Posts: 4
    just an fyi. with ally bank the principle you owe will be a certain amount and to purchase the vehicle after the lease the price will be 2500 more than what you owe. so look out for that on the bottom of the lease paperwork.
  • paradiddle7paradiddle7 Member Posts: 63
    Yeah, thanks for that bit of information. Is that something you can negotiate or is it pretty much just bend over and take it? I doubt I'll be interested in buying the vehicle though.
  • lagam1lagam1 Member Posts: 1
    Hi everyone,

    I just signed a new lease for my first Jeep but wanted to see if I got a good deal. I got a 2013 Grand Cherokee Limited 4x4 5.7L V8 with Luxury Group II package.

    MSRP $43,310
    Negotiated Price $38,900
    Cap Cost Reductions $3,250
    $747.35 due at start which includes the title, registration and license fees
    Monthly payments $484.35
    12k miles per year / 39 months
    Money factor is 0.00055
    Residual is 49%
    Buy out at end of lease is $21,571

    I also got the dealership to throw in 3 years of free maintenance. This is from a dealership on Long Island. How did I do?
  • chryslergroupchryslergroup Member Posts: 35
    Hello lagam1!

    Congrats on the purchase of your new 2013 Jeep Grand Cherokee Limited!

    Sounds like you worked out a pretty good deal for yourself! As long as you are happy with your purchase and feel good about it - it doesn't matter what anyone else thinks.

    Enjoy your new ride!

    Lisa
    Customer Care
    Chrysler Group LLC
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome paradiddle7. The residual value for a lease with only 12,000 miles per year would be 2% higher. the 10k resid would be 3% higher.

    It's difficult to say what Chrysler's incentives on the Grand Cherokee will be like in December, but I personally doubt that they will have less support on it then. Of course, only time will tell for certain.

    The numbers for the other trim levels that you asked about are different.

    Ally's September base lease rate and residual value for a 36-month lease of a 2012 Jeep Grand Cherokee Laredo 4WD with 15,000 miles per year are 1.5% and 50%, respectively.

    Ally's September base lease rate and residual value for a 36-month lease of a 2012 Jeep Grand Cherokee Overland 4WD with 15,000 miles per year are 2.1% and 47%, respectively.

    Car_man
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  • saucemangsaucemang Member Posts: 24
    2013 jeep altitude with remote start, auto lift gate, nav, leather, sunroof etc--- 41400 msrp

    negotiated selling price $37,000 Plus incentives 2300
    10,500 miles a year for 36 months
    1000 down ( first month plus whatever to equal 1k)

    monthly- $415.00
  • buddyluv1buddyluv1 Member Posts: 9
    edited October 2012
    Does anyone know the residual value and money factor for a 2013 Grand Cherokee Laredo V8 and Limited V8 for October? I have gotten 3 different numbers from different dealerships and they are driving me nuts!

    Thank you
  • saucemangsaucemang Member Posts: 24
    Correction $398.00 per month for the jeep altitude $41400.00 msrp
  • emc9emc9 Member Posts: 1
    Hi, can you please help with:
    Money Factor & Residual 2013 Jeep GC Laredo
    -Automatic, 4X4, V6
    -39 month lease
    -15,000 miles/year
    -Denver, CO area
    Thanks!!
  • lakeview88lakeview88 Member Posts: 4
    Hi Car Man,

    Thank you for all the great information. Can you please help with:

    Incentives, Money Factor & Residual 2012 Jeep GC Laredo Altitude
    -Automatic, 4X4, V6
    -36/39 month lease
    -10,000 miles/year
    -Chicago area
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