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Jeep Commander Prices Paid and Buying Experience
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They called me back and I just showed the business manager my calculations and told him that is what I would pay. My new proposed terms were 27mo/15k miles, MF of .0017, residual of 55% of MSRP. He said no one had ever approached him with the amount of detail I had and gave it to me for the "fair" price. Payments came out to $560/mo after tax. He even offered me a job because of how well I understood the process.
I hope this helps and make sure that you know the correct numbers that should be used to calculate your lease payment. If you know what your payment should be and they come back with something different then they are using different numbers than you...simple as that. And they WILL do it if you do not point it out to them.
Good luck!
my deal was 1k down - payment with tax 558
I'm being offered a 39mo lease on a 2007 Commander Limited 4x4 (I live in Minnesota)... Following features:
V8 Flexfuel Engine
Automatic Transmission
Regular Wheels
Premium Sound
Sirius Radio
UConnect hands free
Navagation system
Dealer says MSRP of 41605 - I'll get 1% below list + $75 (Friends and Family purchase), so 38191, less todays rebate of 2500 for a purchase price of 35691... Residual = 21218.55, payments of 607.04/mo - includes MN sales tax and registration.
How much up front cash (down payment, first payment, tax on down payment, etc.)?
How many miles/year are you getting?
The residual you quoted is about 51% of MSRP which is pretty fair on a 39mo lease.
What is the money factor Chrysler is giving you? Assuming everything you've told me and assuming zero down payment then a lease payment of $609 would equal to a money factor of about .0032 or 7.68% APR(multiply by 2400 to get APR) which is a little high depending on your credit history. If you have decent credit I would try to shoot for a money factor of .0022 or 5.28% APR at highest.
If you want the 39mo lease I would shoot for a payment of $550/mo with zero down. You will pay roughly $600 or so for first payment and whatever else they tack on up front.
However, I would consider a 24 or 27mo lease because a 39mo lease is a long time and the car will likely be out of standard warranty towards the end of the lease. Most people who lease like to change cars every 2 years and keep a new car that is in warranty. Otherwise you would just finance.
The difference in payments on a 39mo and 27mo lease are not that much. You will get a higher residual value and lower money factor.
I can send you an easy little spreadhseet that I have developed that shows you how you calculate your payment based on all of the factors I've mentioned in this email. Just let me know if you would like it.
Good luck!
Car_man
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Prices Paid Forum
Car_man
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The dealer, Pro Chrysler Jeep of Denver, did an outstanding job. They picked us up at the airport and handled everything very professionally. They also threw in 3 years and 36,000 miles of service for free. (3000 mile changes)
My first service experience went flawlessly.
Car_man
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(1) Do you think we'll qualify for the lease loyalty cash, even though we're not technically in a lease currently (since it's a smart buy), for total cash rebates of $5500?
(2) Do you think that invoice (minus $5500) is a good/realistic price on a Commander Limited/Overland or is that too optimistic?
(3) Do you have any idea what the current Chrysler money factor and residual value would be for a 36 month lease (in Texas) of a Commander Limited/Overland, 12,000 miles/yr, or if there is a way for me to figure out this info before going into negotiations? I'd also be very interested in seeing these figures for a Grand Cherokee Limited/Overland.
Sorry for all the questions!
If I think a "fair" price is invoice, how much under invoice might I expect to get on an 07 model?
I'm looking at 07 SUVs. Given that many dealers are looking to get rid of 07s with the 08s either there or on their way there are deals to be had. That said, how much UNDER invoice might I expect to get for taking these 07s of their hands?
Scott
Dealer invoice minus all of the available cash incentives is a great target price to shoot for, though you may end up having to come up a couple hundred dollars from there.
Chrysler Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Jeep Commander Limited 2WD with 12,000 miles per year are .00203 and 47%, respectively. The numbers for an otherwise identical lease of an '07 Commander Overland 2WD are .00203 and 42%.
Car_man
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I am interested in possibly leasing a 2007 Jeep Commander Limited or Overland. I am located in NJ and I have located 2 trucks that meet my criteria. One is an Overland with an MSRP of $46,215. The other is a Limited with an MSRP of $44,630. I want a 2007 in order to take advantage of the $4500 incentive and the $2000 lease loyalty incentive (I lease a Wrangler Unlimited). What do you think I ought to shoot for as a reasonable selling price, before applying the incentives? Can I possibly get these trucks for below invoice (again, before factoring in the $6500 incentives)? I would prefer to put no money down, but I really want to keep my monthly payment as absolutely low as possible. I will, without a doubt, be trading the truck in at the end of the lease, possibly for a new Commander if I have a good experience with it. Any help you can provide would be most appreciated. Once I have a target selling price to shoot for, I will see what these dealers can do for me on a lease and then, if you don't mind, I'd like to run the numbers by you (I have 3 little kids and I cannot afford to lose any money because I get snookered by some fast-talking salesperson!)
Thanks a lot,
David in NJ
Here's a little update & a question: the Commander Limited, whose MSRP is $44,630 (straight off the window sticker) has an Invoice Price of $40,786 according to Edmunds.com. The dealer is telling me that the Invoice Price is $41,787 and that Edmunds is wrong. This strikes me as unlikely because the Base MSRP for the truck is the same from both the Window Sticker and Edmunds and the MSRP with options is the same on both the Window Sticker and Edmunds.com. I suspect I'm being fibbed to and I want to know if there is any way to prove it. This particular Commander Limited is apparently the owner's demo with 5,000 miles on it. The selling price is $$38,987 before any incentices. With the $6500 worth of rebates that I qualify for, the selling price is $32,487. I am being quoted the following lease deal:
Cap Cost W/incentives: $32,487
Term: 27 Months
Mileage: 12,000
Residual: 50% (2% deducted due to it being a Demo; Chrysler policy?)
Money Factor: .00139
Due at Signing: $1,000 (1st month,doc. fee, title fee, part of bank fee)
Monthly Payment: $526.75
I could be totally off the mark, but that sounds rather high to me and I cannot figure out why. Someone, anyone, please help me. Is anyone there? ***ANYONE***?!?!??
Buhler......?
Buhle...........?
David in NJ
Car_man
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Thanks for the info. I have a slightly different scenario now. I am going to get out of my 2007 Jepp Wrangler Unlimited Lease, which is almost brand new. My payments are $349 per month. I am "upside down" on this lease, but the car is just to small for my family & me. I have been talking to a dealer and here is what I've got so far:
2008 Jeep Commander Limited
MSRP: $42,855
Invoice: $39,900 (Edmunds.com says invoice should be $39,001)
Selling Price: $42,204
Incentives: $1,500 from Chrysler
Holdback: $1,000 applied by dealer toward purchase/lease
MYGIG Discount: $792 credit toward purchase for free MYGIG
Down Payment: $1,000
Residual: 48% ($20,570.40)
Money Factor: .000840 (2%)
Wrangler Cost: $3,221.22 (added to selling price to get out of lease)
Term: 39 months
Miles-per-Year: 10,000
Now, here is my question:
My Lease Calculator is telling me that I ought to be paying $579.10/ per month. The dealer is quoting me $619/per month He is telling me that I am not taking into account things like a $700 bank fee and various "Inception Costs" like taxes, etc. i feel as if I might be getting ripped-off, but I cannot tell.
PLEASE HELP! I have put down $1,000 (fully refundable) and i am supposed to go back on Monday, October 15th to discuss these "discrepancies". Any advice or counsel before then would be greatly appreciated!
Thanks,
David in NJ
36 months....12,000 miles = 46% at a money factor of .00002
39 months....12,000 miles = 45% at a money factor of .00028
My question is, Are these numbers the same for a Commander Limited (or Overland)? And if not can someone provide me with the current Commander offers? Thanks of any help you can provide.
Car_man
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Chrysler Financial's current 36 month, 12,000 mile numbers for the '08 Commander Overland 4WD are .00008 and 44%. The numbers for an otherwise identical 39 month lease of this truck are .00064 and 43%.
When negotiating your lease on this truck, make sure to take the $3,000 lease cash that is currently available on it into account. It will help you to negotiate an attractive capitalized cost. Chrysler is providing an additional $500 to $1,000 bonus cash on top of this lease cash in certain regions.
Car_man
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One of our grandmothers worked for Chrysler, so we can get some sort of a discount that way (not sure how much of a discount it is). With current rebates, it looks like there's a $3500 rebate plus $1500 bonus lease cash. We're in Detroit. We don't qualify for returning lessee discount.
What's the best I can do in terms of monthly payment? I understand the concept of residual value, but can someone explain the buy rate lease factor?
Basically, I want to be able to walk into the dealer and say, "If you can lease me a Commander 4x4 for $XXX, consider it done." If not, I'll walk out the door. I just am trying to figure out, based on all the info I listed above, what the $XXX should be.
Thanks for any help in advance! I truly appreciate your time and assistance. I've never owned a Chrysler and am new to this whole line of vehicles, but the rebates seem so good right now that we're giving them a hard look.
Car_man
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Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Additional info: It is a 36 month lease and I live in the NJ.
Is this a good deal? Am I leaving money on the table?
Thanks in advance,
Rob
Hope this is appropriate here. I do not see where I can add a new discussion and most Commander discussions are dead!
I am thinking of switching form Toyota to Jeep. I have done my homework on the cost of the car but am getting stuck on the extended warranty. All my Toyotas Rav/Highlanders have come w/a 3 /36 warranty and I always buy a bumper to bumper zero deuctible Toyota factory warranty for 7/100K. It consistently runs about $800 if you shop around...not that they do not initially try to push it on you for $1600!
I was offered a similar warranty on an 07 Commander 4X4 with 15K miles for 4K. Boy did I laugh. Nevertheless I have found internet pricing from some dealers offering the same warranty for $2400.
Can this possibly correct? Is this still inflated? What are folks paying? Why so much?
Please advise. I won't purchase the Commander until I know what fair price is for such a warranty. I must consider this in my over all price before I purchase. Thanks!
Could really use the help...
Live in TAMPA FLA
Thanks - Jay in Tampa, FL
I have a 2006 Commander that's coming off lease in a couple of months... From what I understand, I should be able to go into a new Commander with no penalty. I want to lease a new 2008 Commander Overland. Sticker is 45,575. As far as I can see, there is about 4,500 in rebates (3500+1000 loyalty)... What is the residual value and the lease factor I should be able to get? Can I get into this car with no $ down and less than 500/month? What would the bottom line payment be? I want at least 24 months with 15,000 miles/year... could go to 36 months. I live in Northern Virginia.
Thanks in advance!!!
Gregg
Let's work up a sample lease payment on this truck and see what we come up with. You never mentioned what this truck's selling price is. There probably is a $4,000 spread between its full MSRP and its dealer invoice price. Plus, as you mentioned there is $3,500 lease cash and $1,000 loyalty cash currently available on it. For now I will assume that you are able to get the Commander that you want for $500 over dealer invoice minus the cash incentives. According to my calculations, if you were to lease a 2008 Jeep Commander Overland AWD that has an MSRP of $45,575 and a selling price of $38,575 through Chrysler Financial right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $553. It looks like you are going to have to pay a little more than the $500 per month that you were shooting for to lease this truck right now.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Can you plese let me know what the numbers are from Chrysler Financial on a lease for a 2008 Commander Limited 4x4? Looking for current money factor, residual value, lease cash and loyalty incentives. Thanks.
Car_man
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Employee Price=$36,203.My total additional discounts=$5,250,incl.$1,000 loyalty.
I want 15K miles per year. My dealer calculated payments $407/mo w/$0 down.
Is it good deal?What do you feel about Refuel America deal w/$2.99 per gal.?
Should I take it and pay extra $70 per mo.? I live in Detroit area.Thank you.
I am looking to lease a 2008 Commander Sport 4x4, base model (MSRP just over 30,000). What are the MF and residual rates on a 24 & 36 month low mileage lease - 10,500 per year. Also, if you wouldn't mind working up a sample payment I would greatly appreciate it.
Car_man
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It seems that auction prices won't justify the residuals, and I read that they are losing $5k+ per vehicle that they are taking back in this segment.
Any thoughts or recent experiences would be appreciated.
Car_man
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I talked to a couple of others that I know are going through similar situations and I will let you know what we're finding.
First, a friend's Commander is due this month and CFS' first offer to him was $4k off the residual without even asking for a discount. We'll see what he can do; I'm pushing him to offer much lower in writing to see how they respond. His is the test case I guess, so I'll update as needed.
Another friend has a minivan, so it will be interesting if there is a difference between SUVs and other vehicles. In my opinion (educated, as it relates to what is happening with automakers), there isn't an OEM that wants cars off leases now. Auction values are way off, driving used car values down and the earnings down due to inflated residuals.
A possible strategy I'm looking at is negotiating not only the purchase price (assuming someone wants their vehicle), but also to have CFS finance it and asking for a low interest loan on the vehicle. I would stay on their books, but probably would be treated differently than taking it in. What do you think?