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2014 Jeep Grand Cherokee Lease Questions

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Comments

  • MichaellMichaell ColoradoPosts: 174,469
    edited July 2014

    @bigblockc3 said:
    With a $6,000 discount and such a low residual, it may make sense to buy the vehicle at the end? Just curious if you have any 39 or 48 month terms from Chrysler for this vehicle? If so, how do MFs & Residuals differ for the same 10K allowance?

    No 48 month numbers from Chrysler. 39mo/10K RV is 40% and MF stays the same at .00020.

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  • What would be the residual and money factor in Maryland/DC/VA area on a Limited?

  • MichaellMichaell ColoradoPosts: 174,469

    @shaffer2011 said:
    What would be the residual and money factor in Maryland/DC/VA area on a Limited?

    Lease term? Miles per year? 4WD or 2WD?

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  • bdubz06bdubz06 Posts: 1

    Looking for a residual and money factor for Washington State on Summit 4X4 v6 Gas.

    12k miles/yr at
    36 month,
    24 month,
    and 30 month terms.

    Thanks in advance!

  • MichaellMichaell ColoradoPosts: 174,469
    edited July 2014

    @bdubz06 said:
    Looking for a residual and money factor for Washington State on Summit 4X4 v6 Gas.

    12k miles/yr at
    36 month,
    24 month,
    and 30 month terms.

    Thanks in advance!

    24/12 - .00023 and 60%

    36/12 - .00022 and 50%

    No 30 month program from Chrysler.

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  • @Michaell said:
    Lease term? Miles per year? 4WD or 2WD?

    12K miles, 36mos sorry. 4wd.

  • MichaellMichaell ColoradoPosts: 174,469

    @shaffer2011 said:
    JGC Limited. VA/MD/DC area. 12K miles, 36mos sorry. 4wd.

    .00014 and 56%. Add 2% if diesel.

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  • cakellicakelli Posts: 5

    Can you please provide MF and Residual for Overland Diesel 4WD 36/12K and 36/15K and Limited Diesel 4WD 36/12K and 36/15K in CA? Thanks

  • kyfdxkyfdx Posts: 179,822

    @cakelli said:
    Can you please provide MF and Residual for Overland Diesel 4WD 36/12K and 36/15K and Limited Diesel 4WD 36/12K and 36/15K in CA? Thanks

    Limited: .00014 MF and 56% residual for 36mo, 15K/yr

    Overland: .00010 Mf and 53% residual.

    Add 2% for 12K/yr.

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    Edmunds Moderator

  • ahalzahalz Posts: 1

    Can you please provide the MF and Residual for the Limited 4WD 36/12K for Colorado? Thank you very much.

  • MichaellMichaell ColoradoPosts: 174,469

    @ahalz said:
    Can you please provide the MF and Residual for the Limited 4WD 36/12K for Colorado? Thank you very much.

    .00014 and 56%

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  • mudgiemudgie Posts: 1

    Can you please provide MF and residual for limited 4x4 36/10k and 36/12k for NY? Thank you!

  • kyfdxkyfdx Posts: 179,822

    @mudgie said:
    Can you please provide MF and residual for limited 4x4 36/10k and 36/12k for NY? Thank you!

    .00014 MF and 57%/56% residual.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • jmar02jmar02 Posts: 1

    Car man,
    I just received a quote for a 2015 jeep altitude with 12k miles of $2000 down and $411 per month. This seems high and i think i should be able to get for around $370. Ypur thoughts?

  • kyfdxkyfdx Posts: 179,822

    @jmar02 said:
    Car man,
    I just received a quote for a 2015 jeep altitude with 12k miles of $2000 down and $411 per month. This seems high and i think i should be able to get for around $370. Ypur thoughts?

    Need a lot more to go on than that. MSRP? Lease term and mileage? Tax rate? Selling price?

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • Hello- I am new to leasing. I've researched and my current best offer in upstate NY is: GC Limited w/ 23H Quick Buy package, moonroof and uconnect= MSRP 40905.00 Buy price of $39238. 36mo/12000 MF is .00014 and residual is $22906.80. Monthly is $457 mo with $1995 down (first month and 'taxes') plus 2 years of oil changes. I feel mostly comfortable witht he numbers except for the buy price. I feel like it should be lower. Opinions, please? I tend to over analyze everything so please...is this a good 'deal' or should I push for better? Thanks!

  • MichaellMichaell ColoradoPosts: 174,469

    @nyleasevirgin said:
    Hello- I am new to leasing. I've researched and my current best offer in upstate NY is: GC Limited w/ 23H Quick Buy package, moonroof and uconnect= MSRP 40905.00 Buy price of $39238. 36mo/12000 MF is .00014 and residual is $22906.80. Monthly is $457 mo with $1995 down (first month and 'taxes') plus 2 years of oil changes. I feel mostly comfortable witht he numbers except for the buy price. I feel like it should be lower. Opinions, please? I tend to over analyze everything so please...is this a good 'deal' or should I push for better? Thanks!

    The "buy price" may also include your sales tax obligation, which is calculated and collected up front for leases in NY; confirm that with the dealer.

    Using your numbers, I get a pre-tax payment of $462.34, so pretty close to what you are being quoted.

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  • @Michaell said:
    Using your numbers, I get a pre-tax payment of $462.34, so pretty close to what you are being quoted.

    The down payment of $1995 includes the tax obligation and first month (and something else it seems if my math is right). I was more just trying to get an opinion on if this is a fair deal considering all of this or could I do better? Thanks.

  • MichaellMichaell ColoradoPosts: 174,469

    @nyleasevirgin said:
    The down payment of $1995 includes the tax obligation and first month (and something else it seems if my math is right). I was more just trying to get an opinion on if this is a fair deal considering all of this or could I do better? Thanks.

    It looks to be a fair deal, based on the calculations.

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  • daddyjakesdaddyjakes Posts: 14

    @nyleasevirgin said:
    Hello- I am new to leasing. I've researched and my current best offer in

    • upstate NY is: GC Limited w/ 23H Quick Buy package, moonroof and uconnect= MSRP 40905.00 Buy price of $39238. 36mo/12000 MF is .00014 and residual is $22906.80. Monthly is $457 mo with $1995 down (first month and 'taxes') plus 2 years of oil changes. I feel mostly comfortable witht he numbers except for the buy price. I feel like it should be lower. Opinions, please? I tend to over analyze everything so please...is this a good 'deal' or should I push for better? Thanks!

    I live downstate NY and was offered 439 a month, only first payment and DMV out of pocket and picking up last payment on present lease.

  • I am just about to sign on an Altitude...I love it in Max Steel, so I gave up a few perks on the Limited for a 'look'. That said, I ended up getting another $1000 off the msrp on either the Limited or the Altitude by going with another dealer. For the Altitude; my payment will be $399 month if I pay taxes up front or about $439 month if I roll taxes in. Otherwise, No down payment. I did notice the MF on the Altitude was .00021, up from .00014 on the Limited? I also got 3 yrs of oil changes covered. I admit, I am still procrastinating a little on my choice! Will I miss those Limited features like the better sound system? W hat do you think of the MF? $36200 selling price btw.

  • MichaellMichaell ColoradoPosts: 174,469

    @nyleasevirgin said:
    I am just about to sign on an Altitude...I love it in Max Steel, so I gave up a few perks on the Limited for a 'look'. That said, I ended up getting another $1000 off the msrp on either the Limited or the Altitude by going with another dealer. For the Altitude; my payment will be $399 month if I pay taxes up front or about $439 month if I roll taxes in. Otherwise, No down payment. I did notice the MF on the Altitude was .00021, up from .00014 on the Limited? I also got 3 yrs of oil changes covered. I admit, I am still procrastinating a little on my choice! Will I miss those Limited features like the better sound system? W hat do you think of the MF? $36200 selling price btw.

    I can confirm the .00014 MF on the Laredo Altitude and .00021 on the Limited.

    Given the size of the transaction, you should get exactly the features and options you want. While the good feelings from the deal only last a few days, you'll have to live with your choices for the next 3 years.

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  • Yes, I know! Exactly why I am procrastinating. I really love the Altitude look but I hate that you have to give up things to get it. My saving grace is that I have not driven a Limited so I only know the losses as they are written on paper. Thanks!

  • kevin828kevin828 Posts: 9

    Hi, Michaell. Would you please let me know the residual and MF for a 2014 Overland 4*4, 12k miles/year, 36 month lease, at the time of end of July? I am in southern California with 8% tax rate. A dealer quoted me 53% residual and almost 3% APR(0.00125 in MF), which seems too high. Thanks in advance.

  • MichaellMichaell ColoradoPosts: 174,469

    @kevin828 said:
    Hi, Michaell. Would you please let me know the residual and MF for a 2014 Overland 4*4, 12k miles/year, 36 month lease, at the time of end of July? I am in southern California with 8% tax rate. A dealer quoted me 53% residual and almost 3% APR(0.00125 in MF), which seems too high. Thanks in advance.

    Base MF for 36 months is .00010 and 53% residual. You might check to see if they are using Chrysler Capital as the finance company. MF can only be increased .00042 over base.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


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  • kevin828kevin828 Posts: 9

    @Michaell said:
    Base MF for 36 months is .00010 and 53% residual. You might check to see if they are using Chrysler Capital as the finance company. MF can only be increased .00042 over base.

    Hi Michaell, thanks very much for your rpely. Just wonder what does "base MF" mean? Is that to say MF can only be in a range of 0.00010 ~ 0.00052 if Chrysler Capital is the finance comany? 0.00010 MF seems really good, just wonder if it is possible to get this low (with tier 1 credit score).

  • MichaellMichaell ColoradoPosts: 174,469

    @kevin828 said:
    Hi Michaell, thanks very much for your rpely. Just wonder what does "base MF" mean? Is that to say MF can only be in a range of 0.00010 ~ 0.00052 if Chrysler Capital is the finance comany? 0.00010 MF seems really good, just wonder if it is possible to get this low (with tier 1 credit score).

    Base MF means the minimum MF allowed for that make, model and trim of vehicle. And yes, .00010 MF translates to .24%.

    Yes, for tier 1 credit, the MF range is .00010 to .00052. Not sure why - or how - your dealer is quoting you such a high MF.

    Might be time to engage a new dealer.

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  • kevin828kevin828 Posts: 9

    @Michaell said:
    Might be time to engage a new dealer.

    That dealer gave me a decent net cap cost ($43500 for MSRP $47980). I think they just want to make this up by using such a ridiculous MF. Anyway, thanks very much for your help. I will quote around.

  • MichaellMichaell ColoradoPosts: 174,469

    @kevin828 said:
    That dealer gave me a decent net cap cost ($43500 for MSRP $47980). I think they just want to make this up by using such a ridiculous MF. Anyway, thanks very much for your help. I will quote around.

    Keep us posted.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


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  • kevin828kevin828 Posts: 9

    @Michaell said:
    Keep us posted.

    Hi Michaell, just got another offer from another dealer. For a 2014 Overland 4*4, V6 gas engine, 10K mile/per year, 36 month lease term, $0 down, MSRP = $47980, MF = 0.00010. The final offer I got is $454.6 per month before 8% CA tax, or $491 per month with tax. Dealer said I must lease before August in order to qualify this offer. Is this price decent?

  • ceee5ceee5 Posts: 15

    Hello ! I am new to this forum and honestly to the whole leasing thing. I've been browsing around for a JGC limited and a JGC altitude. just got offered this deal for an altitude. taxes, dmv fees, first months payment (about 2700) 36months @12k miles per year. The limited ... dmv fees up front (about 600) and 469 per month with 12k miles for 36 months. Just like to know If these deals are the best they can be or what ? Thanks for any input ... Also I am in NY .... i'VE ALSO DISCOVERED THAT THE ALTITUDE NOW HAS A BACKUP CAM

  • MichaellMichaell ColoradoPosts: 174,469

    @kevin828 said:

    What is the selling price?

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  • MichaellMichaell ColoradoPosts: 174,469

    @ceee5 said:
    Hello ! I am new to this forum and honestly to the whole leasing thing. I've been browsing around for a JGC limited and a JGC altitude. just got offered this deal for an altitude. taxes, dmv fees, first months payment (about 2700) 36months 12k miles per year. The limited ... dmv fees up front (about 600) and 469 per month with 12k miles for 36 months. Just like to know If these deals are the best they can be or what ? Thanks for any input ... Also I am in NY .... i'VE ALSO DISCOVERED THAT THE ALTITUDE NOW HAS A BACKUP CAM

    NY calculates the lease tax up front and you can either pay it at lease inception or roll it into the cap cost.

    We would need to know the MSRP and selling prices in order to fully evaluate the deal.

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  • kevin828kevin828 Posts: 9

    @Michaell said:
    What is the selling price?

    The net cap cost is $41558.

  • ceee5ceee5 Posts: 15
    @Michaell‌ thank you for the info !!! The MSRP of the altitude was 38865. I am not aware of the selling price, however I was told that the quote I recieved from the first dealer @ 350-379 per month was a little above invoice for this vehicle. The second dealer said he can match but could not beat this. Also I was told that the money factor was 00015 for the JGC altitude. I guess I've been shopping by lowest payment rather than MF and residual value.
  • club619club619 Posts: 114

    Are the JGC residual values lower in general, or is this because the 2015's are coming out soon? Any idea what the residual is on the JGC when the new models are released...over 60%?

  • MichaellMichaell ColoradoPosts: 174,469

    @kevin828 said:
    The net cap cost is $41558.

    My numbers work out the same as yours ... so, looks like a solid deal.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


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  • MichaellMichaell ColoradoPosts: 174,469

    @ceee5 said:
    Michaell‌ thank you for the info !!! The MSRP of the altitude was 38865. I am not aware of the selling price, however I was told that the quote I recieved from the first dealer @ 350-379 per month was a little above invoice for this vehicle. The second dealer said he can match but could not beat this. Also I was told that the money factor was 00015 for the JGC altitude. I guess I've been shopping by lowest payment rather than MF and residual value.

    While payment shopping may seem like the way to go with a lease, you still don't really know if you're getting the best deal. Negotiate the selling price just like you would on a purchase, then ensure that the dealer is not marking up the MF on you.

    Residual value is fixed by the finance company and cannot be adjusted by the dealer.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


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  • kevin828kevin828 Posts: 9

    @Michaell said:
    My numbers work out the same as yours ... so, looks like a solid deal.

    Thanks Michaell. The only problem is that dealer urges us to lease today which is the end of July, which I can't make it because of work. I aware the residual may change in August. Hope I could get the same deal this weekend. Again, thanks for your help~

  • MichaellMichaell ColoradoPosts: 174,469

    @kevin828 said:
    The only problem is that dealer urges us to lease today which is the end of July, which I can't make it because of work. I aware the residual may change in August. Hope I could get the same deal this weekend. Again, thanks for your help~

    No problem .. Let's hope we get the August numbers tomorrow so we can help you get a good deal over the weekend.

    (fingers crossed)

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


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  • ceee5ceee5 Posts: 15
    @Michaell‌ Thanks for clearing that up for me. I went in to ask one salesman what the MF was and he had no idea what I was talking about. At least I can go in with a little confidence. Btw what is the MF and the residual Value for aJGC altitude for 24 months and 36 months with 12k miles ? In ny
  • MichaellMichaell ColoradoPosts: 174,469

    @ceee5 said:
    Michaell‌ Thanks for clearing that up for me. I went in to ask one salesman what the MF was and he had no idea what I was talking about. At least I can go in with a little confidence. Btw what is the MF and the residual Value for aJGC altitude for 24 months and 36 months with 12k miles ? In ny

    4x4?

    24/12 - .00018 and 69%

    36/12 - .00021 and 57%

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


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  • jc007jc007 Posts: 1

    Hi,

    I am looking leasing a JGC limited 4x4, 15,000 miles, with a 2 or 3 year term.
    The MSRP is 42,180.00, dealer is willing to bring it down to 38,000.00, 24 months at $475 plus tax OR $513 (tax included), 36 months at $449 plus tax OR $485 (tax included).
    They are asking for 1st payment for drive off and also applying $1000 rebate for having a current vehicle which is leased. Can you please tell me if this is a good deal or should I try negotiating some more.

  • MichaellMichaell ColoradoPosts: 174,469

    @jc007 said:
    Hi,

    I am looking leasing a JGC limited 4x4, 15,000 miles, with a 2 or 3 year term.
    The MSRP is 42,180.00, dealer is willing to bring it down to 38,000.00, 24 months at $475 plus tax OR $513 (tax included), 36 months at $449 plus tax OR $485 (tax included).
    They are asking for 1st payment for drive off and also applying $1000 rebate for having a current vehicle which is leased. Can you please tell me if this is a good deal or should I try negotiating some more.

    36 months - MF is .00014 and residual for 36/15 is 54%. When I plug in your MSRP and selling price, I get a pre-tax payment of $431.36.

    24 months - MF is .00036 and residual is 66%. Pre-tax payment works out to $447.09.

    Me thinks the dealer is marking up the money factor on you for a bit of extra profit.

    Lots of Jeep dealers around - I'm sure if the one you're working with won't bring the MF down to 'base', you can find one that will.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


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  • club619club619 Posts: 114

    could you provide MF & % for Limited 4WD w/ EcoDiesel for 36mo/10k? Located in 75069 (North Texas). If there are other determining factors in the MF & %, let me know.

    Thanks!

  • MichaellMichaell ColoradoPosts: 174,469

    @club619 said:
    could you provide MF & % for Limited 4WD w/ EcoDiesel for 36mo/10k? Located in 75069 (North Texas). If there are other determining factors in the MF & %, let me know.

    Thanks!

    .00014 MF and 59%.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


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  • club619club619 Posts: 114

    @Michaell said:
    .00014 MF and 59%.

    Thanks--how would that change if I went RWD?

  • MichaellMichaell ColoradoPosts: 174,469

    @club619 said:
    Thanks--how would that change if I went RWD?

    Subtract 1% from RV for RWD. MF increases to .00019.

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  • club619club619 Posts: 114

    Thanks. From reading the posts, is the Limited 4WD EcoDiesel the highest residual across the other options?

  • MichaellMichaell ColoradoPosts: 174,469

    @club619 said:
    Thanks. From reading the posts, is the Limited 4WD EcoDiesel the highest residual across the other options?

    Correct

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This discussion has been closed.