2014 Jeep Grand Cherokee Lease Questions

kyfdx · December 2013

@jaake said:
2014 Jeep GC Summit 4x4 for 36 months & 12K miles
current residual & money factor?

.00024 MF and 47% residual

kyfdx

__bryan__ · December 2013

@kyfdx@Edmunds said:
2014 Jeep Cherokee Limited FWD 39mo, 15K/yr lease
.00037 MF and 50% residual
$ZERO acquisition fee on this model and term for this month through Chrysler Capital.

regards,
kyfdx

Hi Kyfdx,

Is this true only for the model & term? I'm curious if there's something similar or some other incentive available for the Overland 4x4.

Thanks!

kyfdx · December 2013

The Overland and Summit residuals are much lower... resulting in a much higher payment.. The Laredo and Limited trims are the better deals.

lsm0318 · December 2013

I was given a lease price of 2,500 down, $469 a month for 39 months for a 2014 Jeep Grand Cherokee Limited with sunroof and premium NAV. Sticker price of 41,080. I am in NJ, can someone tell me if this is a good deal. I have gone to two dealers and this is the best price I got, not sure if I should keep trying or take the deal. The car is in stock.

kem5882 · December 2013

Is this a decent deal? (Charlotte, NC region). Thanks in advance:

Year Make Model Style
2014 Jeep Grand Cherokee 2WD 4d Wagon Limited

MSRP from inventory screen = 40975.00
Amount that can be residualized = 40975.00
Enhanced Residual = 50.00
Anticipated Mileage = 12000
Low Mileage Adjustment = 2.00
Residual % = 52.00
Adjusted Residual = 21307.00

Capitalized Costs:
Selling Price = 37923.16

Tax on Cap Cost Red = 0.00

Title and Registration = 69.00
License Fee = 0.00
Doc Fee = 699.99
Acquisition Fee = 595.00
Total = 39287.15

Due on Signing:
Cap Cost Reduction:
Cash Down = 0.00
Net Trade = 0.00

Lease Cash / Rebate = 0.00

Fees:
Payment X 1 = 497.33
Security Deposit X 1 = 0.00

Total = 497.33

Payment Calculation
Adjusted Cap Cost Residual = 39287.15
Plus Residual = 21307.00
= 60594.15
X Money Factor = 0.000360
Monthly Rent Charge = 21.81

Adjusted Cap Cost Residual = 39287.15
Less Residual = 21307.00
= 17980.15
/ Term = 39
Monthly Depreciation Charge = 461.03
Base Payment = 482.84
Sales Tax on Payment = 14.49

Max Adj. Cap Cost
MSRP = 40975.00
X = 115%
+ Doc Fee = 699.99
+ Acquisition Fee = 595.00
+ Title & Reg. = 69.00
Max Adjusted Cap Cost = 48485.24

Lease End High Mileage Charge = 0.25

kem5882 · December 2013

@kem5882 said:

Got them to get the price down to $471 per month on the above, taking another $1,000 off.

__bryan__ · December 2013

@kyfdx@Edmunds said:
The Overland and Summit residuals are much lower... resulting in a much higher payment.. The Laredo and Limited trims are the better deals.

Sorry, I was referring specifically to this part:

$ZERO acquisition fee on this model and term for this month through Chrysler Capital.

Does that exist on Overland? Or is that $595 still there.

kyfdx · December 2013

The $ZERO acquisition fee was on Cherokees, not Grand Cherokees... The $595 is still there.

pb007 · December 2013

Thanks kyfdx. Your information & timely responses are invaluable...

Any comment on the $400 UConnect fee that I see on the sticker for a car equipped with the UConnect 8.4 system? My understanding is this was included in the Luxury II package?

I have a MSRP of $44585 but all the vehicle inventory I see at local dealers list it at $44985 because of this extra $400.

Last question - I know there will be a documentation fee, but should I expect an acquisition fee as well?

simeonyu · December 2013

Hi, kyfdx
Happy holiday

May I know the numbers for

2014 GC Laredo 4x4 + 23E
24MTH, 10k/y

thanks

@kyfdx@Edmunds said:
2014 Jeep Grand Cherokee Laredo 4x2 36mo, 12K/yr lease
.00024 MF and 54% residual
Add 1% for 10K/yr

regards,
kyfdx

kyfdx · December 2013

@pb007 said:
Thanks kyfdx. Your information & timely responses are invaluable...

Any comment on the $400 UConnect fee that I see on the sticker for a car equipped with the UConnect 8.4 system? My understanding is this was included in the Luxury II package?

I have a MSRP of $44585 but all the vehicle inventory I see at local dealers list it at $44985 because of this extra $400.

Last question - I know there will be a documentation fee, but should I expect an acquisition fee as well?

Sorry.. I'm not familiar with UConnect.

All leases have an acquisition fee from the bank, unless their is some special program to waive it. Document fees are garbage fees added by dealers. Sometimes, the maximum amount is regulated by the state, and in other places they are just obscenely high. I always find out the fee before negotiating, so that I can subtract it from whatever offer I might consider making.

kyfdx · December 2013

@simeonyu said:
Hi, kyfdx
Happy holiday

May I know the numbers for

2014 GC Laredo 4x4 + 23E
24MTH, 10k/y

thanks

2014 GC Laredo 4WD 27mo, 10K/yr lease

.00033 MF and 65% residual.

Quoted the 27 month lease, as the 24 month lease isn't subsidized for this model.

kyfdx

tsmith870 · December 2013

Hi. I've never leased a vehicle before but am interested in leasing the 2014 Jeep Cherokee Limited. I'm in the process of finding a dealer who had the specifications/color I'd like.

What are the current residuals and money factors for a 36/39 month lease at both 12k and 15k miles?

Do you know the Chrysler credit cutoffs for Tier 1 credit? I applied online and it showed approved for up to $79k but didn't give me a Tier or rating.

Also, are there any special incentives, rebates, etc. that I should know to ask for?

Thanks in advance for your help!

maxlev · December 2013

Hey guys-

Just wanted to report back on my lease experience. I did this for my relative so I don't have the final papers in front of me.

I got a '14 Grand Cherokee Limited 4x4 with sunroof and the 8.4" screen + CD player. MSRP was $41075 give or take a few bucks.

Residual and money factor were as reported above on the contract.

Acquisition fee was $0 (savings of $595). Conquest credit (competitive lease) was $1000.

Not sure if my dealer was aggressive or they saw that I wasn't messing around but their initial offer was $470 +tax for 39 month /15k per year lease. This represented a $37,000ish "selling price" which was below TrueCar.com pricing so I knew I was in a good range.

With a bit more negotiation (there's many competitive dealers in my area and it was end of month end of year) I was able to push them to $450+ tax. This equates to a selling price below $36000.

I was very happy with this deal and I think that if anyone pounces on it before year end, you should be able to do similar.

Also, I was extremely impressed with the Grand Cherokee. Knew nothing about it going into it but WOWOWOWOWOW! Beautiful look. Amazing drive. Go get one while they are cheap!

kyfdx · December 2013

@tsmith870 said:
Hi. I've never leased a vehicle before but am interested in leasing the 2014 Jeep Cherokee Limited. I'm in the process of finding a dealer who had the specifications/color I'd like.

What are the current residuals and money factors for a 36/39 month lease at both 12k and 15k miles?

Do you know the Chrysler credit cutoffs for Tier 1 credit? I applied online and it showed approved for up to $79k but didn't give me a Tier or rating.

Also, are there any special incentives, rebates, etc. that I should know to ask for?

Thanks in advance for your help!

2014 Jeep Cherokee (not Grand, right?) 4WD Limited 39mo, 15K/yr lease

.00023 MF and 51% residual. 36mo residual is 52%. Add 2% for 12K/yr lease

$ZERO acquisition fee on this model.

I don't know the cutoffs for Tier 1, but you have to drop to Tier 3 before it makes a difference on the lease numbers.

kyfdx

tsmith870 · January 2014

Thank you so much kyfdx! So the only change in moving term from 39 to 36 or moving mileage from 15000 to 12000 is in residual value? No change in money factor? This information is extremely helpful!

kyfdx · January 2014

That's correct. Chrysler Finance has the same money factor for 36 and 39 month leases.

tsmith870 · January 2014

One last question - do the residual value and/or money factor change if leasing a 4x2 instead of 4x4?

kyfdx · January 2014

Generally, yes.. .the numbers are different... Usually worse for RWD..

msp5 · January 2014

Hi everyone. I have a 39 month lease deal on the table and need some help in determining if it's a good deal. 2014 JGC limited 4x4 with sunroof and nav. 389 including tax with 2500 down. Thoughts?

kjskjs · January 2014

That deal sounds great. The best I have found in Upstate NY was $480/mo (tax Inc 12k/yr 0.25 over after 39 mo) with $2000 down. Do you mind me asking what area of the country you are in?

Does anyone know what new incentives are coming out tomorrow on the JGC Limited 4x4 ?

msp5 · January 2014

North Jersey

msp5 · January 2014

Was going to close the deal tonight, but the snow kept me from getting to the dealer. We'll see what tomorrow brings.

ljnaum · January 2014

I will be leasing my first car next week and I'm fairly unfamilar with all these terms being thrown around.
The grand cherokee I'm leasing has an msrp of $44k and It will be a 24 or 27 month lease. (12k miles per year)
I would greatly appreciate any tips you guys have to offer and the ball park my monthly payment should be if I'm putting $3000 down.
Grand cherokee limited 4x4 Lux group ii 20" wheels nav

thanks in advance

dewarsandsoda · January 2014

@ljnaum said:
I will be leasing my first car next week and I'm fairly unfamilar with all these terms being thrown around.
The grand cherokee I'm leasing has an msrp of $44k and It will be a 24 or 27 month lease. (12k miles per year)
I would greatly appreciate any tips you guys have to offer and the ball park my monthly payment should be if I'm putting $3000 down.
Grand cherokee limited 4x4 Lux group ii 20" wheels nav

thanks in advance

Hi ljnaum,
A lease is not that daunting as it is only based on three variables: Negotiated sales price; Residual Value (RV); and Money Factor (MF).

RV is a fixed percentage set by the bank that's doing the lease (non-negotiable). There is a base rate MF that is suggested by the bank as well but dealers have the latitude to mark it up as another source of profit, so this variable is negotiable if it has been marked up. Also make sure the acquisition fee is the standard $795 and not marked up.

Please ask kyfdx on this forum to give you the RV and MF for your 24 or 27mo/12K lease on the GC model (Ltd, overland, etc.) of interest and then you can validate against the dealer's numbers.

The calculations of a lease payment would be as follows,
Monthly Depreciation = (Cap Cost - (RVMSRP))/Lease Term
Monthly Interest Charges = (Cap Cost + RVMSRP)*MF
Monthly Lease (pre tax) = Monthly Depreciation + Monthly Interest Charges
*N.B.: Cap Cost assumes Negotiated Sales Price + Acquisition fee only (i.e., no cap cost reduction or $0 down)

My unsolicited advice is to never put any money down as you will never see it again if the car is stolen, totaled, etc. Remember, all that matters is minimizing the total amount of money that you expend over the lease term.

Cheers!

ljnaum · January 2014

^ Thank you!!
Picked it up yesterday

agentcircus · January 2014

Do you have the residuals and money factors for the following (Alabama)?

GC Limited 4x4 36 months/12k/15k
GC Overland 4x4 36 months/12k/15k

Thanks!

mulvs19 · January 2014

Can someone please post the January money factors and residuals for the limited and overland models for 10k and 12k miles, 36 month?

Thanks!

rrayted · January 2014

@mulvs19 said:
Can someone please post the January money factors and residuals for the limited and overland models for 10k and 12k miles, 36 month?

Thanks!

Yes! If anyone has this information it would be greatly appreciated. I am looking for a 4x2 model if that makes a difference.

Also how negotiable is the money factor as far as the dealer is concerned? I already have approval though Chrysler capital and a tier 1 credit (If that even factors in)

Thanks in advance!

rrayted · January 2014

Ok here's what I'm going for tomorrow. kyfdx, could you see the numbers for the following

2014 JGC Overland 4x2 36/39 mo lease, 10k or 12k miles.

or 2014 JGC Limited 4x4 36/39 months, 10/12k miles.

Thanks again.

uec · January 2014

Hello kyfdx, I am also planning to get a 2014 Laredo 4 x 4.
Are these numbers correct please, which I gathered from allover the net:

36 months 15k mi residual = 54%
Money factor = 0.00018 (0.43% rate)

Do you know the residual for 18k miles please?

Thank you!

uec · January 2014

I forgot to ask, besides the $1,000 lease conquest rebate, are there any other incentives available behind the scene?
What is the market for the Laredo in terms of pricing below invoice or percent of MSRP in So Cali? Is it reasonable to expect $4k off a $34k car with all incentives?
Thanks so much!

emtjjp · January 2014

'14 Grand Cherokee Limited, 23H, sunroof, unconnect 8.4an radio. MSRP $40,500. Dealer brought it down to $34850 + $595 Acquisition fee = $35,445 Net Cap Cost. 39 month lease, 39K miles, $491/month with $824 at signing. I have been leasing cars for years, but can never figure out the calculations. Seems to be the cap cost on the Jeep is really good, but that monthly figure can still come down quite a bit......Thoughts?

uec · January 2014

Did you finance it thru Chrysler Capital? Chrysler has some large incentives and cash back to the dealer to move units off the lot combined with 0.00018 money factor, which is about 0.43%, a great deal.

mulvs19 · January 2014

Can someone please post the January money factors and residuals for the limited and overland 4x4 models for 10k and 12k miles, 36 or 39 months?

Thanks!

kyfdx · January 2014

@agentcircus said:
Do you have the residuals and money factors for the following (Alabama)?

GC Limited 4x4 36 months/12k/15k
GC Overland 4x4 36 months/12k/15k

Thanks!

2014 GC Limited 4WD 36mo, 15K/yr lease

.00008 MF and 53% residual. Add 2% for 12K/yr residual

Overland 4WD

.00009 MF and 50% residual

kyfdx · January 2014

@rrayted said:
Ok here's what I'm going for tomorrow. kyfdx, could you see the numbers for the following

2014 JGC Overland 4x2 36/39 mo lease, 10k or 12k miles.

or 2014 JGC Limited 4x4 36/39 months, 10/12k miles.

Thanks again.

Limited 2WD 36mo, 12K/yr lease

.00014 MF and 54% residual. Add 1% for 10K/yr

Overland 2WD

.00032 MF and 51% residual

kyfdx

kyfdx · January 2014

@uec said:
Hello kyfdx, I am also planning to get a 2014 Laredo 4 x 4.
Are these numbers correct please, which I gathered from allover the net:

36 months 15k mi residual = 54%
Money factor = 0.00018 (0.43% rate)

Do you know the residual for 18k miles please?

Thank you!

Those numbers are correct. If they offer an 18K/yr lease, the residuals will be 2% less (but, I'm not sure that they do).

kyfdx

kyfdx · January 2014

@uec said:
I forgot to ask, besides the $1,000 lease conquest rebate, are there any other incentives available behind the scene?
What is the market for the Laredo in terms of pricing below invoice or percent of MSRP in So Cali? Is it reasonable to expect $4k off a $34k car with all incentives?
Thanks so much!

I don't have the incentive information, but you can check here on Edmunds, under the Car Research tab at the top of the page. (incentives and rebates)

kyfdx

mgk645 · January 2014

Is money factor the same regardless of options? I'm looking at a limited ecodiesel and they're telling me 5.96 money factor and 58% residual factor. Equals out to a $465 payment for 15/36. MSRP is 47090 and I get employee pricing which is $42350. I believe elive they're trying to go through ally because there's a $4250 rebate if you do.

donnydjr · January 2014

mgk645 - using a .00008 MF from Kyle with your numbers equates to ~ $465 as you said (assuming a 10% sales tax included) - however, the 58% residual is much higher than the 53% quoted by Kyle - are you sure / is diesel affecting this ?

kyfdx · January 2014

@mgk645 said:
Is money factor the same regardless of options? I'm looking at a limited ecodiesel and they're telling me 5.96 money factor and 58% residual factor. Equals out to a $465 payment for 15/36. MSRP is 47090 and I get employee pricing which is $42350. I believe elive they're trying to go through ally because there's a $4250 rebate if you do.

I don't see any residuals close to that for 36 months.. Maybe they are using a different bank than Chrysler Financial. Also, not sure what 5.96 means for a money factor. Ally will sometimes use APR% instead of money factors.

gt12109 · January 2014

'14 GC Limited 4x4, Sun Roof, 8.4 w/Nav, 12k/yr, 36 months, Massachusetts

Looking for Residual and MF for the lease?

kyfdx · January 2014

.00008 MF and 55% residual

gt12109 · January 2014

kyfdx - thank you very much for the help.

mook12 · January 2014

I was looking for a good deal on a explorer but found jeep grand Cherokee to be much better. I have the following deal on the table. 14 grand Cherokee limited with lux 2 package and 20 inch wheel ect. 44310 msrp adjusted selling 36410 everything rolled into payment of 502$ monthly and I have just put out first payment out of pocket. Is this a decent deal

Michaell · January 2014

@mook12 said:
I was looking for a good deal on a explorer but found jeep grand Cherokee to be much better. I have the following deal on the table. 14 grand Cherokee limited with lux 2 package and 20 inch wheel ect. 44310 msrp adjusted selling 36410 everything rolled into payment of 502$ monthly and I have just put out first payment out of pocket. Is this a decent deal

Do you know the residual value and money factor used to get to that payment?

rockchalk1988 · January 2014

Looking for a 2014 GC Summit 4x4 V8, 15K/yr, 36 and 39 month RV and MF (in Georgia). Thanks for your help.

jpnineballer · January 2014

Looking to lease a 2014 grand Cherokee overland 4x4 nav. Looking for money factor and residual for 24-36 month lease. Texas so also if tax credits are available. Plus whatever incentives are out right now.
Thanks

mook12 · January 2014

.00028 mf and 51% residual I am trying to lease with a private agency that deals with numerous dealership's. I feel like it's a decent deal being that I'm only putting first payment out of pocket and $502 a month

2014 Jeep Grand Cherokee Lease Questions

Comments

Tax on Cap Cost Red = 0.00

Lease Cash / Rebate = 0.00

Total = 497.33

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