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Prices Paid: Buying & Leasing Experiences Jeep Cherokee (All) Prices Paid and Buying Experience
462 messages, Last post on Aug 26, 2008 at 9:02 AM
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...purchased a 2005 JGC Laredo 4x4, 3.7L today in Council Bluffs, IA (Omaha metro area): MSRP: $28,325 base price 0 pkg 26E 180 AHT (trailer hitch) 695 destination ------------ $29,200 total Edmund's invoice: $26,024 base price 0 26E 158 AHT 695 destination ------------ $26,877 total Purchase price: $26,877 Edmund's invoice -3,500 Jeep cash allowance -1,677 other discounts (see below) ----------- $21,700 purchase price plus title and license fees ($10), sales tax, and state reg fee. No other doc fee. No trade in transaction. The $1,677 (other discounts) included a $500 military rebate (I am a vet) and a $500 Jeep loyalty discount (I am an owner of another Jeep). My salesman told me about these incentives. I was not aware of them and neither Edmund's nor Jeep (www.jeep.com) currently lists them. Hence, I suspect they may be dealer incentives, only. (Please correct me if I'm wrong!!!) Edmund's TMV for this vehicle in my Zip code: $27,057 - $3,500 (Jeep cash allowance) = $23,557. Thus, TMV ~$1,850 above purchase price. This purchase is the second I have made in the last two years at a price substantially below TMV. (The last - a 2004 Toyota Sienna in Nov. 03). |
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Saw one dealer- Midway- advertising an exta $1000 off all Jeeps in a loyalty program. Rebates for 2005 in Oct are as follows, at leastr in MA 3500 off- Jeep Grand Cherokee (any model) 750 off- for V-8s 1000 off- Jeep Loyalty Deal in paper for a JGC with Hemi and Tow pkg (MSRP about 39800) was for 29800 or about 10K off. Good luck for last day shopping in MA. The 05's are getting pretty thin around here. |
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I will pick up my new Jeep at Midway in Framingham/Natick this week. Just signed a purchase and sale agreement for a 2005 midnight blue JGC limited. Only options were heated seats, tow pkg and sunroof. MSRP 36,095 and the Invoice was 33,435 (according to edmunds, the actual I think was may be a little lower). I got the following rebates Loyalty- $1000 V8- $750 Standard JGC 05- $3500 Invoice - rebates =$28,125 or about 8000 under MSRP- but there 's more So I 'm at $28,125 but I strill have a trade in to negotiate. A 2000 JGC limited V8 with all options but with 92k on the odometer. KBB wholesalein good condition was $8,650 but nobody was coming close to that number. The best deal I had gotten from about 4 different dealers was $7500 (actually $7000 but when I told the 2nd best priced dealer about this deal I was getting from Midway they moved up to $7500). Midway gave me $8,800 for a trade in so I figure, there were eating into the holdback on this one. So final amount was $19,307 + my trade. I honestly think they made either nothing or next to nothing on this deal. HOld back was about $1100, which doesn't make up for the 1800 difference in trade in values. Also doc fee was only 149 and includes inspection sticker and gas  So what do you think the incentives will be for November- wonder if they'll get any better. THe deals were so good this month, I had to bite.
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Replying to: fasteddy001 (Oct 31, 2005 8:31 pm) |
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...into the parts department of a Jeep dealership in the Sacramento area, where I live, on Sat. to inquire about trailer hitch accessories for the new Laredo I bought in IA two weeks ago (see my post #282). Nice sunny and warm weekend afternoon - the kind that usually brings out buyers. The showroom was empty and there was only one "up" on the lot, so I engaged a salesman killing time and asked about incentives currently available on '05's still in inventory. I asked, "In addition to the direct customer rebates that DC is currently offering customers on '05 models, is the manufacturer providing any incentive to dealers?" He said, "Yes." I then asked if the incentive is a 5% reduction in the invoice cost and he replied that he didn't know, but reiterated that an incentive exists in some form. It's my understanding that most auto manufacturers grant Edmunds access to internal company Web sites where manufacturer-to-dealer incentives are listed. Edmunds then consolidates this information and posts it. However, Edmunds does not list any such incentive (i.e., marketing support) on ’05 JGC's at the present time. But other incentives that not even Edmunds has access to can exist. In fact, before the days of direct customer rebates a 5% (of MSRP) discount by U.S. and most foreign auto makers was common practice at the end of the model year. Dunno for certain, but based on my buying experience and that of a few others on this board since the end of Employee Pricing, I suspect that that is the case today, even with the juicy customer rebates. (That should tell you how slow business really is!) So, when determining the current invoice price of an '05 left in dealer inventory, as well as a reasonable purchase price, I suggest you make the following calculations: adjusted invoice price = Edmunds invoice - 5% of MSRP (with the destination charge included) purchase price = adjusted invoice price x 1.03 – direct manufacturer-to-customer rebates For argument’s sake I assume that a 3% (of invoice) profit, before rebates are applied, is fair and reasonable. Offer 4% if you feel generous, but with a 3% profit your salesman shouldn’t try to work you to death over incidental dealer costs and regional charges, like advertising. (And note that the dealer still gets the usual holdbacks.) Of course, you can try to work deals even closer to invoice. That’s your decision. After all, bus is competitive and slow, and you won’t embarrass yourself in the store if you try. So...what evidence do I have for a 5% end-of-model-year discount on leftover ‘05’s? Only circumstantial and, yes, the discount could - repeat, could - be greater than 5%. A message posted last week on the Lease Questions discussion board in this forum described a deal with a 2.5% profit by my calculations. (See my posts #8 and #10 on that board.) Furthermore, when I bought my Laredo two weeks ago my dealer offered a purchase price, before rebates, nearly $680 below Edmunds' invoice. That left the store with about 3.7% profit, not including holdbacks. I didn't even ask for the discount and, yes, I might have been able to negotiate a slightly better price (by $100-$200, say), rather than accept the offer. (Sigh.) I did insist that the store waive its usual doc fee and it did - reluctantly. Bottom line: just about anyone who can fog a mirror should be able to get a great deal on a leftover ’05 if he or she assumes that, in addition to the direct customer rebates, a manufacturer-to-dealer incentive in the form of an invoice price cut, say 5% of MSRP, also exists. |
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| In my transaction I said the dealer made close to nothing. However I do believe there must be some incentive I don't know about that will gives the dealer back some cash. The 5% off invoice makes sense becuase the deal was pretty easy to strike- so much so that I have to believe they made some money somewhere. Also I see that many dealers around me are now offering 9k off of any 2005 limited in stock. | |
'06 Jeep Grand Cherokee.---------- How far will a dealer go below msrp (sticker)? Do the rebates come off best price? This will be a 3yr lease  12,000 miles per year
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Replying to: btriola (Feb 14, 2006 2:08 pm) |
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I just purchased a 2006 Jeep Grand Cherokee Limited 4x4 at Corson Jeep in Hyannis on Cape Cod. The base price was was 36005. Options 25K………………………………..1,900 Quadra- Drive II 4WD System Power Sunroof Elec LTD Slip Differential Rr Axle Elec LTD Slip Differential Frt Axle Sirius Satellite Radio with 1-year free service Trailer Tow Group IV………………255 7 and 4 pin Wiring Harness 5.7 Hemi Multi Displacement Engine……845 5.7L Badge 6 CD/ Full Map GPS Display Nav Radio……1,200 UConnect Hands-Free Communication….275 17X7.5 Aluminum Chrome Clad Wheels………820 Destination Charge………………………..695 Total Price………41,995 This is what I paid for the Jeep. MSRP PRICE $41,995 DISCOUNT 3,222 NET INVOICE PRICE $38,773 CORSON BONUS CASH -1,000 SALE PRICE $37,773 I had several factory incentive options to choose from. 1.) Take an additional 2,500 cash rebate off sale price. OR 2.) Forgo the $2,500 rebate and take either 0% financing for up to 60 months, or 2.9% financing for 72 months. I took the 0% financing for 60 months. I traded in my 1998-740il w/57000 miles and got 13,000 for my trade. ( Dealers offer was 11,500 for my BMW. I wanted 13,500. We agreed on 13,000.) I was very pleased with the transaction. |
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A friend wants to sell me his Grand Jeep Cherokee 4x4 with 100,000- miles on it for $1,000.00 (one thousand) but it needs a new transmission and rear end. He has two quotes for $4,000.00 to get the work done. So, is this a good deal and are there any problems with the 1994's? Would you purchase a 1994?THANKS FOR THE REVIEWS! Big Drake |
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