2015 Jeep Grand Cherokee Lease Questions

bids27 · March 2015

I'm trying to figure out if the dealer is using a low cap cost to hide an interest rate or other fees. Going in on Saturday to look at hard numbers, but as it stands, I'm looking at MSRP of 49,285 with cap cost of 42,950. Sales tax is $2800 (which they say is for full cost of car, but pretty sure Colorado is only lease payments). Some smaller fees I don't have in front if me. With 0 down they quoted $611 for 36m/12k. With $4500 down they quoted $560. This is a '15 GC overland with advanced tech package. Any insight is appreciated! I did hear them say they got the cost down bc of Ally bank

bids27 · March 2015

bids27 said:
I'm trying to figure out if the dealer is using a low cap cost to hide an interest rate or other fees. Going in on Saturday to look at hard numbers, but as it stands, I'm looking at MSRP of 49,285 with cap cost of 42,950. Sales tax is $2800 (which they say is for full cost of car, but pretty sure Colorado is only lease payments). Some smaller fees I don't have in front if me. With 0 down they quoted $611 for 36m/12k. With $4500 down they quoted $560. This is a '15 GC overland with advanced tech package. Any insight is appreciated! I did hear them say they got the cost down bc of Ally bank

Apologies the $611 quote was with 3000 down

Michaell · March 2015

bids27 said:
I'm trying to figure out if the dealer is using a low cap cost to hide an interest rate or other fees. Going in on Saturday to look at hard numbers, but as it stands, I'm looking at MSRP of 49,285 with cap cost of 42,950. Sales tax is $2800 (which they say is for full cost of car, but pretty sure Colorado is only lease payments). Some smaller fees I don't have in front if me. With 0 down they quoted $611 for 36m/12k. With $4500 down they quoted $560. This is a '15 GC overland with advanced tech package. Any insight is appreciated! I did hear them say they got the cost down bc of Ally bank

We don't have any lease numbers from Ally bank, so cannot confirm any information the dealer may provide.

Colorado does only tax the monthly lease payment, so you can ignore the $2800 figure.

Using the Chrysler numbers of .00017 and 55% for 36/12, $0 down, and your MSRP and cap cost, I get a pre-tax payment of $452. However, I'm almost certain that the cap cost you got from the dealer includes rebates from Ally that aren't applicable to a Chrysler funded lease. IIRC, the rebate is something like $4K, so if I change the cap cost to $46,950, the pre-tax payment jumps to $563.79.

You do not want to make any sort of down payment on a lease; if the car is stolen or totaled, you lose that money. Only out of pocket expenses up front are the first payment, acquisition fee ($595 for Jeep), and any dealer fees - so $1500 or thereabouts.

Which dealer is this?

bids27 · March 2015

Michael thank you so much for the detailed response - it's Autonation in Littleton -

bids27 · March 2015

Which route do you recommend? Do I take the ally with discount and ask to see the numbers or go the Chrysler route?

Michaell · March 2015

bids27 said:
Which route do you recommend? Do I take the ally with discount and ask to see the numbers or go the Chrysler route?

I'm not equipped to answer that .. look at both sets of numbers and see which one results in the smallest total outlay over the term of the lease.

boltsfan · March 2015

I am seeing a $500 manufacturer cash back on dealer site for the Jeep GC Altitude. I assume I can also get the $1k Conquest rebate in addition to this one?

Dealer is playing games not giving me the final negotiated cap cost. He is giving me numbers using Conquest rebate and my trade-in.

Michaell · March 2015

boltsfan said:
I am seeing a $500 manufacturer cash back on dealer site for the Jeep GC Altitude. I assume I can also get the $1k Conquest rebate in addition to this one?

Dealer is playing games not giving me the final negotiated cap cost. He is giving me numbers using Conquest rebate and my trade-in.

I believe the conquest rebate and the manufacturer cash back can be combined.

If the dealer is hiding numbers from you, it may be time to reach out to a new dealer. Lots of them around and it only takes one to be up front with you and earn your business.

boltsfan · March 2015

Offer for 2015 Altitude w\ rear back camera is $1k over invoice at $37748. Is this correct figure?

Roll in $1500 neq equity from trade-in of 2013 Tahoe. Add $1k Conquest cash. $1k in drive-offs.
36mo\12k lease is $584 per month (includes tax).

I also got offer from another dealer that is same but with $1500 in drive-offs and payment at $566 (includes tax).

I never ever put $ down to lower the cap cost. Just min drive-offs.

Fair deals or still more work to do?

Michaell · March 2015

boltsfan said:
Offer for 2015 Altitude w\ rear back camera is $1k over invoice at $37748. Is this correct figure?

Roll in $1500 neq equity from trade-in of 2013 Tahoe. Add $1k Conquest cash. $1k in drive-offs.
36mo\12k lease is $584 per month (includes tax).

I also got offer from another dealer that is same but with $1500 in drive-offs and payment at $566 (includes tax).

I never ever put $ down to lower the cap cost. Just min drive-offs.

Fair deals or still more work to do?

I don't track sales prices, so can't comment on yours.

Would need to know the MSRP and net cap cost in order to model a payment; but, $550-600/mo seems like a lot for a lower trim JGC. The negative equity is only adding about $40-45/mo to your payment.

boltsfan · March 2015

Thanks for your help. I am in San Diego.

MSRP - $38970
Cap Cost - $37800

Eligible for Conquest rebate of $1k. This is taken off after the cap is negotiated correct?

Neg equity is actually $2113 but I think I can get another $1k for it easily.

What is the residual and MF on the 2015 Altitude for March?

Michaell · March 2015

boltsfan said:
Thanks for your help. I am in San Diego.

MSRP - $38970
Cap Cost - $37800

Eligible for Conquest rebate of $1k. This is taken off after the cap is negotiated correct?

Neg equity is actually $2113 but I think I can get another $1k for it easily.

What is the residual and MF on the 2015 Altitude for March?

4x4?

.00018 and 55% for 36/15

Every $1000 of negative equity will increase your payment by about $28/mo on a 36 month lease.

boltsfan · March 2015

Last one had the tow package (that I didn't want anyways) and was sold.

2015 Jeep Laredo 4x2 Altitude w/ back up camera.

MSRP - $38480
Cap - $37748
36mo\12k

Two different dealers are quoting a MF of .053% (or .00022). So they should really be at .00018 so why are they both jacking it up the same?

They must be rolling in other #s to make that payment be so high. They are not being clear on out of pocket driveoffs. I usually make 1st payment, acquisition fee, DMV, etc... and from my math it looks to be around $1500. Still negotiating the trade-in but will only roll in a max of $1k.

My math I should be around $513 per month (rolling in $1k neg equity) and using the conquest rebate and paying drive-offs. Unless I am missing something. Please see attached. Thank you.

Michaell · March 2015

boltsfan said:

Last one had the tow package (that I didn't want anyways) and was sold. 2015 Jeep Laredo 4x2 Altitude w/ back up camera. MSRP - $38480 Cap - $37748 36mo\12k Two different dealers are quoting a MF of .053% (or .00022). So they should really be at .00018 so why are they both jacking it up the same? They must be rolling in other #s to make that payment be so high. They are not being clear on out of pocket driveoffs. I usually make 1st payment, acquisition fee, DMV, etc... and from my math it looks to be around $1500. Still negotiating the trade-in but will only roll in a max of $1k. My math I should be around $513 per month (rolling in $1k neg equity) and using the conquest rebate and paying drive-offs. Unless I am missing something. Please see attached. Thank you.

.00011 and 55% for 36/12 on the 4x2 altitude.

boltsfan · March 2015

Using .00011 for the MF I get payment of $509 (including tax).

Although that MF seems very low. Dealer is claiming .00053 which looks like it would be for a 24 month lease. I have never seen so much disparity.

Do you have a site where the current MFs are published?

Confused...

Thanks!

Michaell · March 2015

boltsfan said:
Using .00011 for the MF I get payment of $509 (including tax).

Although that MF seems very low. Dealer is claiming .00053 which looks like it would be for a 24 month lease. I have never seen so much disparity.

Do you have a site where the current MFs are published?

Confused...

Thanks!

Dealer can mark up the MF by .00042 .. do the math.

These numbers are not published anywhere.

boltsfan · March 2015

I just spoke to the General Manager at one Jeep dealer. Not budging at all on the MF of .00053 for the Altitude 4x2 for 36/12k. They are using Chrysler Finance and he admitted they mark up the MF .00042 (from .00011) and that a 1.27% rate is a great deal. This is same with a dealer in another nearby city.

Michaell · March 2015

boltsfan said:
I just spoke to the General Manager at one Jeep dealer. Not budging at all on the MF of .00053 for the Altitude 4x2 for 36/12k. They are using Chrysler Finance and he admitted they mark up the MF .00042 (from .00011) and that a 1.27% rate is a great deal. This is same with a dealer in another nearby city.

Wow - that's surprising. Do they think the Altitude is such a rare commodity that it commands a premium on the MF?

There has to be one Jeep dealer willing to play ball on the MF.

boltsfan · March 2015

That's what I am assuming. I know there is a lot of interest in this trim at local dealer but them not willing to budge is surprising. They don't even have one on the lot at one dealer and it is in transit and due to arrive in a week. The other dealer has 8 of them in stock but won't budge either after emailing with the GM. They are both claiming I am getting a great lease rate even though they both admit it is marked up .00042. Crazy.

I'll test a 3rd on the MF... if they won't give me .00011 then what would be fair in your opinion? Might be better to look at a Limited or Overland to get a better rate?

Michaell · March 2015

boltsfan said:
That's what I am assuming. I know there is a lot of interest in this trim at local dealer but them not willing to budge is surprising. They don't even have one on the lot at one dealer and it is in transit and due to arrive in a week. The other dealer has 8 of them in stock but won't budge either after emailing with the GM. They are both claiming I am getting a great lease rate even though they both admit it is marked up .00042. Crazy.

I'll test a 3rd on the MF... if they won't give me .00011 then what would be fair in your opinion? Might be better to look at a Limited or Overland to get a better rate?

The Limited and Overland have worse residuals, so not certain you'd end up with a better overall deal.

.0042 is only 1%, as opposed to the .26% that the .00011 represents.

boltsfan · March 2015

What is invoice on the Altitude 4x2 (w\ camera)?

Michaell · March 2015

boltsfan said:
What is invoice on the Altitude 4x2 (w\ camera)?

Use the pricing tools at the top of the page (make / model / year) to get MSRP, invoice and true market value pricing for your area.

davekothi · April 2015

Same question as others - interested in a 2015 Altitude model. The dealer suggested invoice price is $39370. and they are selling it to me for $39990. 36 months, 12,000 miles, for $499. Here are the other costs:

acc. Fee is $595
tax $2280.63
TT&L $251
Navigation $695

They are offering for my older car's trade in at $3500 and I have to make the first payment upon signing.

Compared to others, this looks like higher. I'm in Dallas, TX

Any thoughts or suggestion?

Michaell · April 2015

davekothi said:
Same question as others - interested in a 2015 Altitude model. The dealer suggested invoice price is $39370. and they are selling it to me for $39990. 36 months, 12,000 miles, for $499. Here are the other costs:

acc. Fee is $595
tax $2280.63
TT&L $251
Navigation $695

They are offering for my older car's trade in at $3500 and I have to make the first payment upon signing.

Compared to others, this looks like higher. I'm in Dallas, TX

Any thoughts or suggestion?

Yep - in Texas, you pay sales tax against the entire selling price, which will make your lease payment higher than that for someone that lives in CA, for example. I'm assuming the $39990 is inclusive of all taxes and fees.

Are they applying the entire trade equity as cap cost reduction? If so, I would recommend against it - if the car is stolen or totaled, you lose that money.

davekothi · April 2015

Michaell - Thank you for your help and reply.

$39,990 does not include the taxes and fees.

Can you help me understand better on the cap cost reduction question? Not sure I understand fully.

Michaell · April 2015

davekothi said:
Michaell - Thank you for your help and reply.

$39,990 does not include the taxes and fees.

Can you help me understand better on the cap cost reduction question? Not sure I understand fully.

Cap cost reduction is the lease terminology for down payment. We do not recommend doing this for a lease because if the car is stolen or totaled during the lease, the money is lost.

Instead, have the dealer cut you a check for the equity in your trade.

cnote2 · April 2015

Need Altitude 4x4 36/39m 12k money factor\residual, any lease cash? northeast. Thanks again

kyfdx · April 2015

cnote2 said:
Need Altitude 4x4 36/39m 12k money factor\residual, any lease cash? northeast. Thanks again

.00018 MF and 57% residual for 36mo, 12K/yr

cnote2 · April 2015

is there a lease conquest cash of 1k?

kyfdx · April 2015

cnote2 said:
is there a lease conquest cash of 1k?

You can check for incentives by clicking on the Car Research tab at the top of the page.

alludc · May 2015

gettin fully stiffed here locally. 40,830 MSRP on a 39/12 lease 2015 Altitude 4x4 came back with ...
. With just the inception fees down ($1,825) your payment comes to just $576.24, including tax. With $2,500 down, it drops to just $556.33. That is for 12,000 miles per year.

no further #s have been given despite requesting them. Moving on to other dealers who are being much more upfront thus far.

smaniscalco · May 2015

Hi! I am currently looking to lease a 2015 Jeep Grand Cherokee Altitude 4x4 with a MSRP of $40,840. 36 months @ 15k miles/year. I live in Chicago suburbs. Receiving $2500 equity on my trade in. What are legitimate numbers I should be looking for? I am hoping to settle around $400/month payment. Is that too low/high? They started me at almost $700/month!! Any help would be greatly appreciated.

Thanks

Michaell · May 2015

smaniscalco said:
Hi! I am currently looking to lease a 2015 Jeep Grand Cherokee Altitude 4x4 with a MSRP of $40,840. 36 months @ 15k miles/year. I live in Chicago suburbs. Receiving $2500 equity on my trade in. What are legitimate numbers I should be looking for? I am hoping to settle around $400/month payment. Is that too low/high? They started me at almost $700/month!! Any help would be greatly appreciated.

Thanks

The current 36/15 lease numbers for the JGC Altitude 4x4 are .00032 and 49%.

We would need to know the selling price to model a payment.

And, we do not recommend that you use trade equity to bring down the payment ... if the car is stolen or totaled, you lose that money.

smaniscalco · May 2015

Michaell said:

smaniscalco said:
Hi! I am currently looking to lease a 2015 Jeep Grand Cherokee Altitude 4x4 with a MSRP of $40,840. 36 months @ 15k miles/year. I live in Chicago suburbs. Receiving $2500 equity on my trade in. What are legitimate numbers I should be looking for? I am hoping to settle around $400/month payment. Is that too low/high? They started me at almost $700/month!! Any help would be greatly appreciated.

Thanks
The current 36/15 lease numbers for the JGC Altitude 4x4 are .00032 and 49%.

We would need to know the selling price to model a payment.

And, we do not recommend that you use trade equity to bring down the payment ... if the car is stolen or totaled, you lose that money.

Selling price is $37,000.

Michaell · May 2015

smaniscalco said:

Michaell said:

smaniscalco said:
Hi! I am currently looking to lease a 2015 Jeep Grand Cherokee Altitude 4x4 with a MSRP of $40,840. 36 months @ 15k miles/year. I live in Chicago suburbs. Receiving $2500 equity on my trade in. What are legitimate numbers I should be looking for? I am hoping to settle around $400/month payment. Is that too low/high? They started me at almost $700/month!! Any help would be greatly appreciated.

Thanks
The current 36/15 lease numbers for the JGC Altitude 4x4 are .00032 and 49%.

We would need to know the selling price to model a payment.

And, we do not recommend that you use trade equity to bring down the payment ... if the car is stolen or totaled, you lose that money.
Selling price is $37,000.

I'm getting $490.14/mo before tax with those numbers. The low residual is hurting you here.

alludc · May 2015

smaniscalco said:
Hi! I am currently looking to lease a 2015 Jeep Grand Cherokee Altitude 4x4 with a MSRP of $40,840. 36 months @ 15k miles/year. I live in Chicago suburbs. Receiving $2500 equity on my trade in. What are legitimate numbers I should be looking for? I am hoping to settle around $400/month payment. Is that too low/high? They started me at almost $700/month!! Any help would be greatly appreciated.

Thanks

FYI, on the same vehicle im working on a 39/12 and with a $2000 drive off (includes tax, 1st payment, DMV, title) im at $510 (tax included) a mo. I agree with Michaell to not use that 2500 equity as down. Better to have them cut you a check and have the higher payment. I feel that both of us should be able to get to 499 tax included with the right dealer.

alludc · May 2015

Michaell, is the MF or Res any better on the laredo E 4x4 or Limited 4x4 compared to the Altitude right now? 39/12

Michaell · May 2015

alludc said:
Michaell, is the MF or Res any better on the laredo E 4x4 or Limited 4x4 compared to the Altitude right now? 39/12

39/12 numbers:
Laredo - .00032 and 49%
Altitude - .00032 and 49%
Limited - .00055 and 50%

smaniscalco · May 2015

Michaell said:

smaniscalco said:

Michaell said:

smaniscalco said:
Hi! I am currently looking to lease a 2015 Jeep Grand Cherokee Altitude 4x4 with a MSRP of $40,840. 36 months @ 15k miles/year. I live in Chicago suburbs. Receiving $2500 equity on my trade in. What are legitimate numbers I should be looking for? I am hoping to settle around $400/month payment. Is that too low/high? They started me at almost $700/month!! Any help would be greatly appreciated.

Thanks
The current 36/15 lease numbers for the JGC Altitude 4x4 are .00032 and 49%.

We would need to know the selling price to model a payment.

And, we do not recommend that you use trade equity to bring down the payment ... if the car is stolen or totaled, you lose that money.
Selling price is $37,000.
I'm getting $490.14/mo before tax with those numbers. The low residual is hurting you here.

How about at a sale price of $35,000?

Michaell · May 2015

smaniscalco said:

Michaell said:

smaniscalco said:

Michaell said:

smaniscalco said:
Hi! I am currently looking to lease a 2015 Jeep Grand Cherokee Altitude 4x4 with a MSRP of $40,840. 36 months @ 15k miles/year. I live in Chicago suburbs. Receiving $2500 equity on my trade in. What are legitimate numbers I should be looking for? I am hoping to settle around $400/month payment. Is that too low/high? They started me at almost $700/month!! Any help would be greatly appreciated.

Thanks
The current 36/15 lease numbers for the JGC Altitude 4x4 are .00032 and 49%.

We would need to know the selling price to model a payment.

And, we do not recommend that you use trade equity to bring down the payment ... if the car is stolen or totaled, you lose that money.
Selling price is $37,000.
I'm getting $490.14/mo before tax with those numbers. The low residual is hurting you here.
How about at a sale price of $35,000?

Every $1000 off the price reduces the payment about $28/mo ($1000 / 36) - so, everything else being equal, the pre-tax payment of $490/mo drops to $434/mo if the cap cost comes down $2000.

jeepdude5 · June 2015

Hello,

I was wondering if you could give me the residual value for a 2015 GC Altitude in Eastern Massachusetts? That would be the residual as set by Chrysler financial, right?

MSRP: $39,890 (the only option is the sunroof).
24 months 12k miles.

Thanks for your help!

kyfdx · June 2015

jeepdude5 said:
Hello,

I was wondering if you could give me the residual value for a 2015 GC Altitude in Eastern Massachusetts? That would be the residual as set by Chrysler financial, right?

MSRP: $39,890 (the only option is the sunroof).
24 months 12k miles.

Thanks for your help!

4X4? .00006 MF and 60% residual

jeepdude5 · June 2015

Hi. Thanks! Yes, 4x4.

Chrysler financial has a $2,500 rebate if leasing with them and the dealership is offering the car with a $4,000 discount. However, they said the $1k of the discount comes from the $2,500 Chrysler rebate (so instead of $6,500 off the MSRP it is actually $5,500). Does that sound familiar to you?

So with the numbers you gave me and knowing what I already knew I get a different amount using the edmonds lease calculator.

MSRP: $39,890
Res.: $23,934
Rebate: $2,500
Discount: $4,000 or $3,000 (depending on if what they said it's true)
MF: .00006
Money Down: $5,500 (trying to fix my credit so I wanted to have as low monthly payments as possible).

Using the $3k discount instead of $4k, I get $247 before tax ($264 with the 6.25% Massachusetts state sales tax). Does any of that look right to you?

Thank you so much once again.

kyfdx · June 2015

jeepdude5 said:
Hi. Thanks! Yes, 4x4.

Chrysler financial has a $2,500 rebate if leasing with them and the dealership is offering the car with a $4,000 discount. However, they said the $1k of the discount comes from the $2,500 Chrysler rebate (so instead of $6,500 off the MSRP it is actually $5,500). Does that sound familiar to you?

So with the numbers you gave me and knowing what I already knew I get a different amount using the edmonds lease calculator.

MSRP: $39,890
Res.: $23,934
Rebate: $2,500
Discount: $4,000 or $3,000 (depending on if what they said it's true)
MF: .00006
Money Down: $5,500 (trying to fix my credit so I wanted to have as low monthly payments as possible).

Using the $3k discount instead of $4k, I get $247 before tax ($264 with the 6.25% Massachusetts state sales tax). Does any of that look right to you?

Thank you so much once again.

It's possible that their quote was with a purchase rebate that isn't compatible with the lease rebate. But, I don't have the incentive information.

Taking $11,000 off the MSRP for a selling price ($2500 rebate, $3000 discount, $5500 downpayment), I get a payment of $210/mo.+tax.

I didn't include any upfront costs, like 1st payment or acquisition fee.

jeepdude5 · June 2015

Thanks for your reply. I know for a fact, because the GM told me, that the rebate and discount both apply; so it is indeed $11k off the MSRP. 1st payment and fees are included in the $5.5K down payment.

I'll let you know how it goes.

jeepdude5 · June 2015

Well that didn't go well. He said that with 5.5k down the monthly payments would be 255 but I would have to write him a check for 6.5k to account for taxes and first months payment.

i also noticed that when he entered the numbers in his computer, he entered the price of the car at 37k or so, meaning the software he used calculated a 60% residual on that amount intead of the 39,890k.

if you have any thoughts that would be great. Thanks!

kyfdx · June 2015

jeepdude5 said:
Well that didn't go well. He said that with 5.5k down the monthly payments would be 255 but I would have to write him a check for 6.5k to account for taxes and first months payment.

i also noticed that when he entered the numbers in his computer, he entered the price of the car at 37k or so, meaning the software he used calculated a 60% residual on that amount intead of the 39,890k.

if you have any thoughts that would be great. Thanks!

The only MSRP that matters is the bottom line on the Monroney sticker. All those dealer addendums on the side sticker don't apply.

I'm not looking at it, so I can't say exactly what happened.

The total lease cost isn't bad, though

dae928 · June 2015

Can you please provide me with the money factor and residual for a 4x4 Limited for 36 months and 12k & 15k/ year? Also what current rebates are available? I'm seeing $500 from a few dealers, is that correct?

Thanks

jpandskim · June 2015

Looking for some help with MF and Residual on a 4x2 Altitude 10k and 12k. Also, any way to confirm the current $2500 lease cash and $500 cash back? Thanks!

kyfdx · June 2015

jpandskim said:
Looking for some help with MF and Residual on a 4x2 Altitude 10k and 12k. Also, any way to confirm the current $2500 lease cash and $500 cash back? Thanks!

.00075 MF and 52%/51% residual for 36 months.

I don't have any solid info on incentives, but there does appear to be $2500 lease cash and the acquisition fee is waived this month, if leasing through Chrysler Capital

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