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2015 Jeep Grand Cherokee Lease Questions

kyfdxkyfdx Posts: 148,714
edited May 2015 in Jeep

Ask your 2015 Jeep Grand Cherokee lease questions, here!

See Also: Leasing Advice from Edmunds

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

Edmunds Moderator

«13456743

Comments

  • chasmochasmo Posts: 6
    edited August 2014

    kyfdx, you are the best. Do you have the money factors and residuals for a 4x4 Altitude, 12K miles / 24 mos. and 36 mos.?

  • kyfdxkyfdx Posts: 148,714

    @chasmo said:
    kyfdx, you are the best. Do you have the money factors and residuals for a 4x4 Altitude, 12K miles / 24 mos. and 36 mos.?

    36: .00021 MF and 57% residual

    24: .00018 MF and 68% residual

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

    Edmunds Moderator

  • chasmochasmo Posts: 6

    @ kyfdx. Those resids look low - just making sure they are for the 2015?

  • MichaellMichaell ColoradoPosts: 141,231

    @chasmo said:
    @ kyfdx. Those resids look low - just making sure they are for the 2015?

    Ha - those are for the 2014.

    2015 numbers.

    24/12 - 63%

    36/12 - 57%

    Standard MF for both ... probably around .00200.

    So ... 2014's are more desirable as a lease this month.

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


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • chasmochasmo Posts: 6

    Great and thank you for the quick replies. Interesting numbers. Don't know how anyone can generalize leasing when there are so many wide variables between manufacturers, years, rates, models and geographies. Thanks for being here.

  • MichaellMichaell ColoradoPosts: 141,231

    @chasmo said:
    Great and thank you for the quick replies. Interesting numbers. Don't know how anyone can generalize leasing when there are so many wide variables between manufacturers, years, rates, models and geographies. Thanks for being here.

    Agreed - and, the numbers can change every month.

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


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Looking for MF and residual value for 2015 Altitude 4x4 36 mo 12k miles. Connecticut area. Also, do you think there will be any deals on the 2015's for labor day weekend?

  • MichaellMichaell ColoradoPosts: 141,231

    @seanhelmes said:
    Looking for MF and residual value for 2015 Altitude 4x4 36 mo 12k miles. Connecticut area. Also, do you think there will be any deals on the 2015's for labor day weekend?

    Standard MF (around .00200) and 57% RV.

    No idea if there will be any specials on the 2015's for the holiday weekend. I suspect the dealers will be more interested in clearing out the 2014 stock they have on the lots.

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


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • @Michaell said:
    Standard MF (around .00200) and 57% RV.

    I think you mean around .00020) and 57% RV. Having it at .00200 would make it roughly a 4.5% interest rate which is what you'd expect on a car loan, not a car lease, correct?

  • MichaellMichaell ColoradoPosts: 141,231

    @seanhelmes said:
    I think you mean around .00020) and 57% RV. Having it at .00200 would make it roughly a 4.5% interest rate which is what you'd expect on a car loan, not a car lease, correct?

    No, I meant .00200 as the 'standard' MF for Chrysler leases (which is really just a guess on my part). Most leases are subvented, or supported by the manufacturer, which is why they are so low.

    I see lots of money factors above .00100 - BMW, MB, Porsche, Lexus - but they also offer multiple security deposits which allow the customer to 'buy down' the MF. Most of the non-luxury brands do not have this option as the promotional MF is so low to begin with.

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


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • @Michaell said:
    I see lots of money factors above .00100 - BMW, MB, Porsche, Lexus - but they also offer multiple security deposits which allow the customer to 'buy down' the MF. Most of the non-luxury brands do not have this option as the promotional MF is so low to begin with.

    Thanks for clarifying. Much appreciated and very helpful.

  • How do they configure the lease payment? 1. Start with total cap cost, (after any dealer discounts) incl. lease acquisition fee, title tax lic. Total cap cost. $32000.00. then subtract the R.V. Let's say 3 year 12k = 54%. Is the residual Value figured from the standard MSRP? Let's say yes. MSRP was. $35000.00. X 54% . RV = $18900.00. Then take the total cap cost $32000.00 less RV $18900 leaves $13100 in depreciation. Then take $13100.00 and divide by 36 = $363.88 monthly payment. Right so far? How is the money factor/Apr figured into this equation ? Money factor x $13100 ? Thank you

  • MichaellMichaell ColoradoPosts: 141,231

    @pklostermen said:
    How do they configure the lease payment? 1. Start with total cap cost, (after any dealer discounts) incl. lease acquisition fee, title tax lic. Total cap cost. $32000.00. then subtract the R.V. Let's say 3 year 12k = 54%. Is the residual Value figured from the standard MSRP? Let's say yes. MSRP was. $35000.00. X 54% . RV = $18900.00. Then take the total cap cost $32000.00 less RV $18900 leaves $13100 in depreciation. Then take $13100.00 and divide by 36 = $363.88 monthly payment. Right so far? How is the money factor/Apr figured into this equation ? Money factor x $13100 ? Thank you

    The depreciation part of the payment is right.

    To figure the monthly finance charge, you add the cap cost and the residual value together, then multiply by the money factor. (32000 + 18900) * .00014 = $5.73/mo.

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


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Thank you

  • colt311colt311 Posts: 17

    Could I please get the RV & MF for 36 months on a 2015 JGC Overland Diesel 10K, 12K, 15K Thank you!

  • Do you have the residuals and mf's for a 2015 summit and 2015 overland on a 24 month lease and 10k miles? Thanks
  • MichaellMichaell ColoradoPosts: 141,231

    @colt311 said:
    Could I please get the RV & MF for 36 months on a 2015 JGC Overland Diesel 10K, 12K, 15K Thank you!

    4x2 - standard MF (.00200 or so) and 53%

    Add 2% for 2k and 3% for 10k.

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


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • kyfdxkyfdx Posts: 148,714

    @chrisj7845 said:
    Do you have the residuals and mf's for a 2015 summit and 2015 overland on a 24 month lease and 10k miles? Thanks

    4X4?

    Standard money factor. Summit: 60%, Overland: 64%

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

    Edmunds Moderator

  • cakellicakelli Posts: 5

    Is the MF on the 2015's expected to reduce over time? That is really high and I can't imagine leasing with that rate. Is this MR similar to the 2014's when they were first released?

  • MichaellMichaell ColoradoPosts: 141,231

    @cakelli said:
    Is the MF on the 2015's expected to reduce over time? That is really high and I can't imagine leasing with that rate. Is this MR similar to the 2014's when they were first released?

    After the 2014's are gone, I would expect the 2015's to have a more reasonable MF.

    I don't have any historical information, so cannot comment on whether the 2014 MF were the same at this time last year as Chrysler was trying to get rid of the 2013's.

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


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Looking for current MF and residual value for 2015 Altitude 4x4 36 mo 12k miles. Connecticut area. Also looking for the same on a 2014 so I can see the difference.

  • Looking for current MF and residual value for 2015 Laredo E 4x4 36 mo 12k miles. Connecticut area. Also looking for the same on a 2014 so I can see the difference.

  • MichaellMichaell ColoradoPosts: 141,231

    @seanhelmes said:

    Looking for current MF and residual value for 2015 Altitude 4x4 36 mo 12k miles. Connecticut area. Also looking for the same on a 2014 so I can see the difference.

    >

    Looking for current MF and residual value for 2015 Laredo E 4x4 36 mo 12k miles. Connecticut area. Also looking for the same on a 2014 so I can see the difference.

    2015 MF is standard for all Grand Cherokees this month ... don't know the exact figure, but probably around .00200 or so.

    RV for 2015 Altitude - 57%

    RV for 2015 Laredo - 57%

    2014 Altitude and Laredo - .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!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • @Michaell said:
    2014 Altitude and Laredo - .00021 and 57%

    Thank you!

  • Should I lease a 2015 jeep grand cherokee or a 2014 for 3 years / 12k miles? What's the better decision from a cost perspective at this time of the year?

  • MichaellMichaell ColoradoPosts: 141,231

    @seanhelmes said:
    Should I lease a 2015 jeep grand cherokee or a 2014 for 3 years / 12k miles? What's the better decision from a cost perspective at this time of the year?

    Right now better deals are to be had on the 2014's.

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


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Hi I was looking for RV and Mf for a 2014 GC SRT and 2015 GC SRT for 10k. Thanks

  • kyfdxkyfdx Posts: 148,714

    @jacksoncm3 said:
    Hi I was looking for RV and Mf for a 2014 GC SRT and 2015 GC SRT for 10k. Thanks

    36 months?

    2014: .00020 MF and 50% residual

    2015: Standard MF and 48% residual

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

    Edmunds Moderator

  • Great and what is the residual and money factor on SRT 36/MO 10k if I did the IDL lease

  • kyfdxkyfdx Posts: 148,714

    @jacksoncm3 said:
    Great and what is the residual and money factor on SRT 36/MO 10k if I did the IDL lease

    We don't have independent bank lease numbers (like Ally), which you would have to use to get the IDL lease bonus.

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

    Edmunds Moderator

  • 35d_ude35d_ude Posts: 13

    I could use some help evaluating a lease quote. This is in Cincinnati, OH, for a 2015 GC Overland 4x4. I have some neg equity in here due to an absorb amount of mileage I put on my trade.

    MSRP $49,185
    MF: .00053
    Residual: .51
    3-years / 15K Miles/yr.
    Sale Price: $45,096
    Trade offer: $29,500
    Trade Payoff: $40,163
    Net neg equity: $10,663
    Cash down: $5,000
    Rebate: $1,000
    Tax: $2226.65
    Govt Fees: $73.50
    Amount financed: $53,741

    The sale price and trade values look good to me, but if you disagree please let me know. I'm thinking I may be able to negotiate another $1,000 off.

    However, what doesn't look right to me is the Money Factor at (.00053). The residual also look a tad low.

    Any thoughts on the deal would be appreciated. Thanks in advance!

  • MichaellMichaell ColoradoPosts: 141,231
    edited August 2014

    @35d_ude said:
    I could use some help evaluating a lease quote. This is in Cincinnati, OH, for a 2015 GC Overland 4x4. I have some neg equity in here due to an absorb amount of mileage I put on my trade.

    MSRP $49,185
    MF: .00053
    Residual: .51
    3-years / 15K Miles/yr.
    Sale Price: $45,096
    Trade offer: $29,500
    Trade Payoff: $40,163
    Net neg equity: $10,663
    Cash down: $5,000
    Rebate: $1,000
    Tax: $2226.65
    Govt Fees: $73.50
    Amount financed: $53,741

    The sale price and trade values look good to me, but if you disagree please let me know. I'm thinking I may be able to negotiate another $1,000 off.

    However, what doesn't look right to me is the Money Factor at (.00053). The residual also look a tad low.

    Any thoughts on the deal would be appreciated. Thanks in advance!

    Residual of 51% is spot on, but the base MF is .00010 - dealers can mark it up by .00042, which would equate to .00052. Base MF that we quote also assume top tier credit.

    Are you still in your existing lease? Why would you trade it out early with $10K of negative equity? I'm wondering if that has an affect on the MF as well....

    EDIT - sorry, just realized you are referring to the 2015 JGC - the numbers above are for the 2014 model year.

    Residual for the 2015 is still 51%, but the MF is quoted as "standard", which usually means large or expensive.

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


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • 35d_ude35d_ude Posts: 13

    Michaell, thanks for the response. So the negative equity is the result of a balloon payment loan where I put an absurd number of miles on a 2012 (75K). The longer I drive it, the worse it will get. I'm not driving that much anymore, so a lease will work now.

    I am now just going to payoff the neg equity in cash, so no neg equity in the lease - which would just be getting rid of a bad loan and creating another.

    So should I be asking them to drop the MF to .00010? Is that reasonable? How much off MSRP (%) would be an excellent deal on a 2015?

    Thanks again
    Chris

  • I was asking for a fairly aggressive purchase price (42236 on a MSRP of 47185), and the following is what the dealer responded with. So two questions (1) Is this price really untouchable, and (2) is it true that you can't negotiate the figure below invoice and therefore achieve a lower monthly payment on a lease? If I understand what he's saying, if they sell it to you at invoice cost - then the only way to drive the payment down beyond that is to put cash in out of your own pocket.

    "Leases all originate/are based on Invoice Cost or $44,966 in this case. I'm not certain what your asking in your "seeking price" of $42,236.....But on a Buy that's several hundred below Employee Pricing which there is no way they'll sell it for that. Let me ask you this....Where do you want to be on a lease payment?"

  • kyfdxkyfdx Posts: 148,714

    @35d_ude said:
    I was asking for a fairly aggressive purchase price (42236 on a MSRP of 47185), and the following is what the dealer responded with. So two questions (1) Is this price really untouchable, and (2) is it true that you can't negotiate the figure below invoice and therefore achieve a lower monthly payment on a lease? If I understand what he's saying, if they sell it to you at invoice cost - then the only way to drive the payment down beyond that is to put cash in out of your own pocket.

    "Leases all originate/are based on Invoice Cost or $44,966 in this case. I'm not certain what your asking in your "seeking price" of $42,236.....But on a Buy that's several hundred below Employee Pricing which there is no way they'll sell it for that. Let me ask you this....Where do you want to be on a lease payment?"

    If you are looking at a 2015 model, you probably won't get much below invoice, unless you can identify some specific incentives on this model. I can't follow the pricing market for 400 different makes/models. You can use the Make/Model/Year tab at the top of the page to see what Edmunds thinks about pricing.

    Making the payment lower by putting money upfront is not saving anything, so that is beside the point. That just makes it appear cheaper.

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

    Edmunds Moderator

  • bdinobdino Posts: 11

    Do you have the RV and MF for 2015 GC limited 4x4 yet? 36/12. Thanks.

  • kyfdxkyfdx Posts: 148,714

    @bdino said:
    Do you have the RV and MF for 2015 GC limited 4x4 yet? 36/12. Thanks.

    .00053 MF and 53% residual

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

    Edmunds Moderator

  • Could you post the MF and RV for a 2015 Altitude 4x4, 36m/12k, in the Northeast

  • MichaellMichaell ColoradoPosts: 141,231

    @nsull314 said:
    Could you post the MF and RV for a 2015 Altitude 4x4, 36m/12k, in the Northeast

    .00093 and 55%

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


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • bigblockc3bigblockc3 Jersey Shore, NJPosts: 117
    Hello, thanks for the help and insight with the Durango R/T... Got it $1,300 UNDER invoice, PLUS all incentives & best MF & Residual for August. An amazing deal thanks to you! Okay, Looking at both the 2014 or 2015 Jeep GC Summit AWD... Can you please provide Residual and MF for each which reflects 10K, 12K & 15K (all over 36 months)? Thanks again!!! George
  • Do you have the RV and MF for a 2015 GC Overland 4x4 12k/36mo? Does the 5.7L V8 option make any difference? Thank you!
  • bigblockc3bigblockc3 Jersey Shore, NJPosts: 117
    Yes, that's a good question! I was assuming NO difference in engine options in terms of residual value... Is there a difference between the six & the V8???
  • MichaellMichaell ColoradoPosts: 141,231

    Hello, thanks for the help and insight with the Durango R/T... Got it $1,300 UNDER invoice, PLUS all incentives & best MF & Residual for August. An amazing deal thanks to you! Okay, Looking at both the 2014 or 2015 Jeep GC Summit AWD... Can you please provide Residual and MF for each which reflects 10K, 12K & 15K (all over 36 months)? Thanks again!!! George

    39 months is the sweet spot for 2014 Jeep leases this month.

    2014 - .00012 and 44% for 39/15

    2015 - .00044 and 44% for 39/15. 45% for 36/15.

    Add 2% for 12K and 3% for 10K

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


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • MichaellMichaell ColoradoPosts: 141,231
    dtpnj said:

    Do you have the RV and MF for a 2015 GC Overland 4x4 12k/36mo? Does the 5.7L V8 option make any difference? Thank you!

    .00038 and 51%

    Engine choice does not affect lease numbers.

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


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • MichaellMichaell ColoradoPosts: 141,231

    Yes, that's a good question! I was assuming NO difference in engine options in terms of residual value... Is there a difference between the six & the V8???

    No.

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


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • kyfdxkyfdx Posts: 148,714
    Michaell said:

    dtpnj said:

    Do you have the RV and MF for a 2015 GC Overland 4x4 12k/36mo? Does the 5.7L V8 option make any difference? Thank you!

    .00038 and 51%

    Engine choice does not affect lease numbers.
    Except for Diesels... Diesel models may have different residuals.

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

    Edmunds Moderator

  • bigblockc3bigblockc3 Jersey Shore, NJPosts: 117
    Thanks but I'm a bit confused? So the Summit AWD has a lower residual than the Overland AND there is NO difference in residual value from 2014 to 2015 within this model and trim? Also, the MF is higher on the 2015 vs the 2014? The 39 month leases for the Summit yield the best mf's and residuals? If priced out at the same MSRP, it looks like the 2015 Lexus RX350 is the better leasing vehicle?
  • kyfdxkyfdx Posts: 148,714

    Thanks but I'm a bit confused? So the Summit AWD has a lower residual than the Overland AND there is NO difference in residual value from 2014 to 2015 within this model and trim? Also, the MF is higher on the 2015 vs the 2014? The 39 month leases for the Summit yield the best mf's and residuals? If priced out at the same MSRP, it looks like the 2015 Lexus RX350 is the better leasing vehicle?

    The numbers are what they are... Comparing one model year to another isn't valid, unless you consider all possible incentive differences, as well. It's entirely possible that Lexus has a better lease program.

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

    Edmunds Moderator

  • bigblockc3bigblockc3 Jersey Shore, NJPosts: 117
    Of course / I agree... That's why I was confused? There's only about a difference of about $500 in rebates between them. Typically a new model year has a stronger residual value than the previous model year for obvious reasons. *Especially if the MSRP is virtually unchanged. Residuals typically drop as we move forward month to month... The base price (with destination) for the 2015 is $52,590 while the 2014 is $52,190 ($400 difference). One would think the 2015's would have a STRONGER residual value than the 2014's, especially now (as we are still in 2014). Incentives and rebates for leasing are virtually the same between both model years (as far as I can see)...
  • Looking for the numbers for 2015 Limited 4x4 24 or 27 months at 10k/yr in MA. Also 2015 Altitude 4x4 same, 24/27 at 10k/yr. Thanks!
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