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2014 Jeep Grand Cherokee Lease Questions

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  • avery323avery323 Member Posts: 21

    Hello -- Overland and SRT MF and resids for 36months/10k a year. Many thanks!

  • MichaellMichaell Moderator Posts: 240,063

    @avery323 said:
    Hello -- Overland and SRT MF and resids for 36months/10k a year. Many thanks!

    Overland - .00005 and 53%

    SRT - .00020 and 50%

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  • bigblockc3bigblockc3 Member Posts: 141

    Hello and Thanks again for ALL your help! Okay, we've decided on the 2014 Grand Cherokee SRT. Need a 10,000 mile lease Residual for 36 & 39 months? First time Jeep buyer... Can you please advise of MF for tier #1 in each? Are you able to advise of direct Lease cash to Dealer and ANY Consumer Rebates as none are disclosed... We're leasing in NJ if that matters? Also, are you aware of who may be the LARGEST Jeep dealer within say 250 miles of NJ? THANKS!

  • kyfdxkyfdx Moderator Posts: 235,188

    @bigblockc3 said:
    Hello and Thanks again for ALL your help! Okay, we've decided on the 2014 Grand Cherokee SRT. Need a 10,000 mile lease Residual for 36 & 39 months? First time Jeep buyer... Can you please advise of MF for tier #1 in each? Are you able to advise of direct Lease cash to Dealer and ANY Consumer Rebates as none are disclosed... We're leasing in NJ if that matters? Also, are you aware of who may be the LARGEST Jeep dealer within say 250 miles of NJ? THANKS!

    .00020 MF and 50% residual for 36 months. 46% for 39 months.

    Rebate/incentive information can be found by accessing the Car Research button at the top of the page.

    No clue on the size of your area Jeep dealerships.

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  • bigblockc3bigblockc3 Member Posts: 141

    Thanks for the info! Looks like residuals have dropped since April? Thanks for providing the standard of measure of service within this segment! Cheers! GEO

  • jamlovesgrapesjamlovesgrapes Member Posts: 9
    Just wanted to see if this is a good offer. JGC 4x4 limited sunroof and nav. Msrp 41072. Down to 35000. Lease for 39 months 399/month. Only due at signing are taxes fees and first month 3500. They are also covering my last 2 payments on my current lease 670. Taking that the due at signing. Please let me know if this is a good deal.
  • MichaellMichaell Moderator Posts: 240,063

    @jamlovesgrapes said:
    Just wanted to see if this is a good offer. JGC 4x4 limited sunroof and nav. Msrp 41072. Down to 35000. Lease for 39 months 399/month. Only due at signing are taxes fees and first month 3500. They are also covering my last 2 payments on my current lease 670. Taking that the due at signing. Please let me know if this is a good deal.

    Selling price certainly looks good. Do you have a breakdown of the $3500 that you're giving them?

    Also, what state is this in?

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  • ericlakinericlakin Member Posts: 5
    edited April 2014

    Hello - I'm researching lease options for a 2014 JGC Overland. I'd like 15k or 18k miles for 36 months with fees and first month down. I am in Michigan. Can you provide info on the MF and residual value?

    Thank you!

  • kyfdxkyfdx Moderator Posts: 235,188

    @ericlakin said:
    Hello - I'm researching lease options for a 2014 JGC Overland. I'd like 15k or 18k miles for 36 months with fees and first month down. I am in Michigan. Can you provide info on the MF and residual value?

    Thank you!

    4X4? .00005 MF and 50% residual for 36mo, 15K/yr. Not sure if they have an 18K/yr program, but if they do, the residual would be 2% lower.

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  • jamlovesgrapesjamlovesgrapes Member Posts: 9
    null
    2745 tax and bank fees
    399 first months
    45 gas
    289 filing fee
    And dmv fees

    Also they are charging me .25/mile for overage. Should I ask them to lower it?
    This is from east hills jeep in ny. If anyone has experience from this dealer please let me know.
  • ericlakinericlakin Member Posts: 5

    @kyfdx@Edmunds said:
    4X4? .00005 MF and 50% residual for 36mo, 15K/yr. Not sure if they have an 18K/yr program, but if they do, the residual would be 2% lower.

    Wow, thanks! Yes, 4x4. Here in Michigan I think we assume all Jeeps are 4x4!

  • MichaellMichaell Moderator Posts: 240,063

    @jamlovesgrapes said:
    null
    2745 tax and bank fees
    399 first months
    45 gas
    289 filing fee
    And dmv fees

    Also they are charging me .25/mile for overage. Should I ask them to lower it?
    This is from east hills jeep in ny. If anyone has experience from this dealer please let me know.

    I don't believe the excess mileage charge can be negotiated down. And, since there is no money going to cap cost reduction I think you've got a pretty good deal.

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  • jamlovesgrapesjamlovesgrapes Member Posts: 9
    edited April 2014

    Thanks

  • greenmj1greenmj1 Member Posts: 1

    I am looking to lease a Grand Cherokee 4x4 Limited, 36 mos 15K/yr in Missouri. Can you please provide the Residual and MF? Also for 12/yr 36 mos.? Thank you.

  • MichaellMichaell Moderator Posts: 240,063

    @greenmj1 said:
    I am looking to lease a Grand Cherokee 4x4 Limited, 36 mos 15K/yr in Missouri. Can you please provide the Residual and MF? Also for 12/yr 36 mos.? Thank you.

    MF of .00019. Residual of 54% (15K) and 56% (12K)

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  • flag8trsflag8trs Member Posts: 1

    I am interested in leasing a Grand Cherokee 4x4 (possibly 2x4) Limited for 36 months and 15k per year in Florida. Could you please provide the Residual and MF? Thanks! David

  • MichaellMichaell Moderator Posts: 240,063

    @flag8trs said:
    I am interested in leasing a Grand Cherokee 4x4 (possibly 2x4) Limited for 36 months and 15k per year in Florida. Could you please provide the Residual and MF? Thanks! David

    JGC Limited 4x4 - .00019 and 54%

    JGC Limited 4x2 - .00006 and 52%

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  • VAJeepBuyerVAJeepBuyer Member Posts: 14

    Hello, I am in Northern Virginia/Maryland area. Looking to find the best deal in either state. Could you please share the numbers on a JGC Overland 4x4 -- 36 months 12k per year. Thank you for all the help and posts on this forum!!

  • MichaellMichaell Moderator Posts: 240,063

    @vajeepbuyer said:
    Hello, I am in Northern Virginia/Maryland area. Looking to find the best deal in either state. Could you please share the numbers on a JGC Overland 4x4 -- 36 months 12k per year. Thank you for all the help and posts on this forum!!

    .00005 and 52%

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  • gingrichgingrich Member Posts: 9

    Hello. In California. Looking at JGC, limited 4x2 ecodiesl. msrp 44,$175. discounted to $38k. what is the res & mf I should be expecting? I am in initial talks & they quoted me $579/mo plus tax on 3 yr, 10K miles & seems a bit high .

  • MichaellMichaell Moderator Posts: 240,063

    @gingrich said:
    Hello. In California. Looking at JGC, limited 4x2 ecodiesl. msrp 44,$175. discounted to $38k. what is the res & mf I should be expecting? I am in initial talks & they quoted me $579/mo plus tax on 3 yr, 10K miles & seems a bit high .

    MF is .00006 and residual is 55%; I don't think there are different numbers for the diesel. Using your MSRP and selling price, I get a pre-tax payment of $384.40, so yeah, I agree that the payment quoted to you by the dealer is "a bit high".

    Is there any money down? A trade in? Can you get the dealer to break down their $579/mo payment?

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  • bsellinbsellin Member Posts: 3

    Hello - In Washington State. Received the following quote for a 2014 Jeep Grand Cherokee Overland MSRP $47,190, 36 months, 10,000 miles, top tier credit: MF .00097, Residual 53%, $1,000 due at signing (assuming 1st month's pmt & related fees). Monthly Payment $564.14 + $55.29 monthly tax = $619.43 monthly payment. I think I they can do better. Agree?

  • gingrichgingrich Member Posts: 9

    @Michaell@Edmunds said:
    Is there any money down? A trade in? Can you get the dealer to break down their $579/mo payment?

    No $ down & no trade-in. I'm going into dealer today & have them break the numbers down.

  • MichaellMichaell Moderator Posts: 240,063
    edited April 2014

    @bsellin said:
    Hello - In Washington State. Received the following quote for a 2014 Jeep Grand Cherokee Overland MSRP $47,190, 36 months, 10,000 miles, top tier credit: MF .00097, Residual 53%, $1,000 due at signing (assuming 1st month's pmt & related fees). Monthly Payment $564.14 + $55.29 monthly tax = $619.43 monthly payment. I think I they can do better. Agree?

    What is the selling price?

    The base MF for the Overland 4x4 is .00005, so it looks as if it's being marked up. 53% residual is correct, though.

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  • gingrichgingrich Member Posts: 9

    do you have #'s for a 2 yr, 10k 12k lease on a limited? would prefer to get into a shorter lease than 36mos.

  • MichaellMichaell Moderator Posts: 240,063

    @gingrich said:
    do you have #'s for a 2 yr, 10k 12k lease on a limited? would prefer to get into a shorter lease than 36mos.

    Residual is 65% for 24/12K and 66% for 24/10K.

    MF is .00030, which offsets the higher residual.

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  • ericlakinericlakin Member Posts: 5

    @kyfdx%40Edmunds said:
    4X4? .00005 MF and 50% residual for 36mo, 15K/yr. Not sure if they have an 18K/yr program, but if they do, the residual would be 2% lower.

    If I choose the Eco-Diesel engine option does the MF or residual change? It would be a 2014 JGC 4x4 Overland Diesel in Michigan.

  • MichaellMichaell Moderator Posts: 240,063

    @ericlakin said:
    If I choose the Eco-Diesel engine option does the MF or residual change? It would be a 2014 JGC 4x4 Overland Diesel in Michigan.

    None of the information we have suggests a difference in MF or residual based on the engine choice, just the trim level.

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  • mc731mc731 Member Posts: 4

    Hello,

    Hoping for some help...

    I'm looking into leasing a new JGC...this one in particular: http://quirkchryslerjeep.com/new/Jeep/2014-Jeep-Grand+Cherokee-3f3646a00a0a00e07dd18651c9f8edfc.htm w/ a price quote via email of $35995. I live in Massachusetts.

    I have never leased a car so this is all pretty new to me. I did the Chrysler credit app and was approved for "up to" $49,900 in financing. Figured I would see what I was eligible for before dealing with a dealer. The credit score they pulled was 698 from Experian. What tier is that?

    Would I have a decent shot at leasing this vehicle? Looking to lease for 36/mo 10k miles. I have a trade w/ some equity some of which can be used to cover relevant fees. Want to cash out some equity if that is even a possibility. Looking to keep my payments at or less than $400 which may be unrealistic.

    Any advice and insight would be much appreciated. Would like to have some concrete knowledge before visiting a dealer.

  • bsellinbsellin Member Posts: 3
    edited April 2014

    @Michaell@Edmunds said:
    The base MF for the Overland 4x4 is .00005, so it looks as if it's being marked up. 53% residual is correct, though.

  • kyfdxkyfdx Moderator Posts: 235,188

    .00005 is equivalent to 0.12% APR, not 1.2% APR

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  • bsellinbsellin Member Posts: 3

    @Michaell@Edmunds Really appreciate your reply. I asked for the cap cost used but that was left out in the dealer's email. I backed into it though on his numbers and looks like it comes to $42,950. Am I correct that MF of .00005 is 1.2%?

  • MichaellMichaell Moderator Posts: 240,063

    @bsellin said:
    Michaell@Edmunds Really appreciate your reply. I asked for the cap cost used but that was left out in the dealer's email. I backed into it though on his numbers and looks like it comes to $42,950. Am I correct that MF of .00005 is 1.2%?

    As my co-host noted above, a MF of .00005 is the equivalent of .12% interest.

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  • gingrichgingrich Member Posts: 9

    So went into dealership last night to finalize deal on limited. MSRP 44175. They had a sale price listed on web of $38k. When they ran #'s they used a price of $41,784. When I asked why they didn't use $38k they said they could sell it to me for that price, but cant lease it for that since its well below invoice. they quoted me $529 + tax, 10k miles, 55% res & .00026 mf. tier 1 Chrysler credit. No money down though using my $1k non-Chrysler as my cap reduction. I was thrown off a bit by the whole capitalization cost vs advertised sale price. Also when I asked about residual for 2 year it was not in the +60% range. Thoughts?

  • MichaellMichaell Moderator Posts: 240,063

    @gingrich said:
    So went into dealership last night to finalize deal on limited. MSRP 44175. They had a sale

    1. price listed on web of $38k. When they ran #'s they used a price of $41,784. When I asked why they didn't use $38k they said they could sell it to me for that price, but cant lease it for that since its well below invoice. they quoted me $529 + tax, 10k miles, 55% res & .00026 mf. tier 1 Chrysler credit. No money down though using my $1k non-Chrysler as my cap reduction. I was thrown off a bit by the whole capitalization cost vs advertised sale price. Also when I asked about residual for 2 year it was not in the +60% range. Thoughts?

    It's possible that there are incentives available only for retail sales that aren't applicable to leases.

    When I plug your numbers into my calculator ($44,176 MSRP, $41,784 cap cost, 55% residual and .00026 MF) I get a pre-tax payment of $502.94.

    The residual value is set by the finance institution and cannot be modified by the dealer.

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  • jwigg67jwigg67 Member Posts: 2

    I am looking to lease a 2014 JGC 4x4 Limited, in Missouri, for 36 MOS and 10k/miles a year. Can you let you know what the residual and MF are?

  • MichaellMichaell Moderator Posts: 240,063

    @jwigg67 said:
    I am looking to lease a 2014 JGC 4x4 Limited, in Missouri, for 36 MOS and 10k/miles a year. Can you let you know what the residual and MF are?

    .00019 and 57%

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  • jwigg67jwigg67 Member Posts: 2

    thank you very much!

  • MichaellMichaell Moderator Posts: 240,063

    @jwigg67 said:
    thank you very much!

    Good luck with your shopping! Please come back and share your deal so others can benefit from it.

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  • amc2002amc2002 Member Posts: 2

    @jamlovesgrapes said:
    2745 tax and bank fees
    399 first months
    45 gas
    289 filing fee
    And dmv fees

    Also they are charging me .25/mile for overage. Should I ask them to lower it?
    This is from east hills jeep in ny. If anyone has experience from this dealer please let me know.

    I had a bad experience with this dealer. I signed an order for a Grand Cherokee last year, and when delivery day came, they said they couldn't get the car and there wasn't one in the area equipped as I wanted. I sent them four VINs from the Jeep website that said otherwise. They said they called around and no one would trade with them, but I was welcome to take the one off the lot they had with a different color. I asked for my deposit back, which eventually I had to dispute with my credit card company after getting the runaround for two weeks (which I thought was plenty of time to refund my money). I eventually went to one of the dealerships that actually had the one I wanted (Town & Country in Levittown), and was in and out in 30 minutes. No relation to either of these dealers, just relaying my experience.

  • steverstever Guest Posts: 52,454
    edited April 2014

    Ouch. We also have a Dealer Reviews module that you may want to visit, and write reviews on both dealers.

  • gettinscrewedgettinscrewed Member Posts: 2

    Philadelphia, PA--My girlfriend wants to lease a 2014 Cherokee Latitude, AWD, 3.2L V6. We received an initial quote of $398/mth with 10% down. Clearly, we're getting screwed. Could you let us know what the current MF and residual are for the 2014 Latitude? Thanks.

  • MichaellMichaell Moderator Posts: 240,063

    @gettinscrewed said:
    Philadelphia, PA--My girlfriend wants to lease a 2014 Cherokee Latitude, AWD, 3.2L V6. We received an initial quote of $398/mth with 10% down. Clearly, we're getting screwed. Could you let us know what the current MF and residual are for the 2014 Latitude? Thanks.

    You didn't provide lease term or miles per year so I'll go with the standard 36mo/15K. MF is .0008 (for any lease term between 25 and 39 months) and residual is 53%.

    And yes, your quote from the dealer is a bit on the high side. You don't want to put any money down on a lease - if the car is stolen or totaled, you are out that money.

    Try to negotiate the lowest selling price possible - that will help your monthly payment.

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  • bzimm1126bzimm1126 Member Posts: 5

    Michaell, looking for Residual and MF for Limited and Overland 4x2, V6, 36 mos 10k and 12k, I'm in GA. Thanks!

  • MichaellMichaell Moderator Posts: 240,063

    @bzimm1126 said:
    Michaell, looking for Residual and MF for Limited and Overland 4x2, V6, 36 mos 10k and 12k, I'm in GA. Thanks!

    MF of .00006 for Limited, .00008 for Overland

    36/12 residual

    Limited - 54%

    Overland - 50%

    Add 1% for 10K

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  • dbabaevdbabaev Member Posts: 3

    Michaell, what are the numbers for a Limited 4x4 V6, 36 mos 12k in NJ. Thanks a lot in advance!!!

  • MichaellMichaell Moderator Posts: 240,063

    @dbabaev said:
    Michaell, what are the numbers for a Limited 4x4 V6, 36 mos 12k in NJ. Thanks a lot in advance!!!

    .00019 and 56%

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  • fonixxfonixx Member Posts: 3

    Hi! Would it be possible to get numbers for a Laredo E 4x2, 36 months/10K in Southern California? Thanks!

  • MichaellMichaell Moderator Posts: 240,063

    @fonixx said:
    Hi! Would it be possible to get numbers for a Laredo E 4x2, 36 months/10K in Southern California? Thanks!

    .00022 and 56%

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  • gdma81gdma81 Member Posts: 2

    Hello. Would it be possible to get numbers for a Laredo Altitude Package 4x4, 36 Months, 12K in Massachusetts? I received a quote (MSRP $38,480) of $525 with $2,000 down plus $1,000 lease loyalty and the dealer buying out my remaining lease of $3,300 (just getting to over mileage). Quote seems high to me.

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