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Jeep Cherokee (All) Prices Paid and Buying Experience

661 messages,  Last post on Nov 08, 2009 at 7:12 PM

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What is this discussion about? Jeep Cherokee, Jeep Grand Cherokee, SUV


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#538 of 661
lease buy out by ronaldc
Feb 02, 2009 (4:20 pm)
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The lease on my G/C limited is coming due. The original residual value was calculated at $19,080. Chrysler Financial is reducing this to $13,080 plus sales tax. Has anyone received similar buyouts??
#539 of 661
Re: lease buy out [ronaldc] by seeme4jeep
Feb 03, 2009 (12:11 pm)
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Replying to: ronaldc (Feb 02, 2009 4:20 pm)

Yes, I am a salesperson at a Chrysler, Jeep, Dodge dealer in milwaukee, wi. What you received is what we call a PLPP. Preferred Lessee Purchase Price. Chrysler Financial does not want their vehicles back. They would have to pick them up from the dealers, recondition them, send them to the auction, and process all that paperwork. Chrysler would prefer to sell it to you for what they would probably get at the auto auction for it. In return they don't have to pay all the other fees attributed to a vehicle after it returns from lease. You will not be able to buy a vehicle just like yours at a dealer for the same price. It is a good idea to buy it out unless you don't like it. If you decide to buy it out all you have to do is contact a Jeep dealer and ask for a finance manager or the salesperson you bought it from. He will verify the PLPP number with Chrysler. Should only take him like 10minutes to do. I can call and get one myself in like 2 minutes. He will need your acct. # or SSN. You will have to fill out a credit application and he will get a new loan approved for you. If your buyout is $13,080 you will also have to pay a dealer service fee usually about $100-200. It's the same fee you pay when you buy a new car. 99% of dealers have them and it is a fair fee for the work they will have to do. You will also have to pay tax on the $13,080 and a DMV fee because you will be retitling the vehicle. If you were a Milwaukee resident your total buy-out would be $14,058. So don't be surprised if yours is about the same. Remember the dealer does not make any money by selling you your own car only if they sell you a new one. Don't forget to buy an extended warranty on the vehicle for peace of mind.
#540 of 661
Re: lease buy out [seeme4jeep] by schimmey
Feb 04, 2009 (6:19 am)
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Replying to: seeme4jeep (Feb 03, 2009 12:11 pm)

I have been researching used Grand Cherokees and the more I research the more confused I get as to what would be the best deal. I found a Limited that was a rental with 13,000 miles that is now at a Dealer (bought at auction according to CarFax) he is asking 23,000, according to what I am seeing would 20,000 be a fair offer. If I have an option to purchase a Grand Cherokee x pkg 2008 from private owner with only 258 miles for 22,000 is that the better choice. Any advice would be appreciated
#541 of 661
Deals on 2009s by dfy8811
Feb 04, 2009 (12:59 pm)
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Has anyone heard of any good deals on 2009 GC Limiteds?
 
I was quoted 28,895 for a GC Limited, 5.7L Hemi using Balloon Financing.
 
Trying to gauge what I should counter with. Anyone have thoughts?
#542 of 661
Re: lease buy out [schimmey] by verdugo
Feb 04, 2009 (1:02 pm)
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Replying to: schimmey (Feb 04, 2009 6:19 am)

I think the dealer is asking waaaay too much.
 
I'm assuming the ex-rental is an 08, right? Go over to the forum about trade in values and post (make sure you provide the required info). I'm pretty sure it will be lower than $20k.
 
All things being considered, I rather buy a vehicle with 258 miles than an ex-rental with 13,000.
 
Why is the guy selling such a new car? Is there something wrong with it? At least you have the peace of mind of factory warranty. Although, the lifetime power warranty is not transferable.
#543 of 661
Re: Deals on 2009s [dfy8811] by melram
Feb 04, 2009 (4:40 pm)
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Replying to: dfy8811 (Feb 04, 2009 12:59 pm)

I just looked into leasing a 2009 Grand Cherokee Limited but realized the money factor and residuals are really bad and leasing is not an option. I am also considering buying a new one but have not negotiated on the price below. The dealer sent me the following information on the vehicle but I figure I can get him down some more since they aren't selling very many.
 
MSRP - $42,645.00 List price
                $39,475.00 Invoice
                $37,719.00 Employee Price / Sale Price = $4926.00 from MSRP
                $5,500 Rebates
                $32,219 Purchase Price
 
What was the MSRP, Invoice, Employee Pricing and rebates on your deal?
 
Thanks
#544 of 661
Re: Deals on 2009s [melram] by dfy8811
Feb 11, 2009 (8:53 am)
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Replying to: melram (Feb 04, 2009 4:40 pm)

Don't have the information on hand but rebates sounds similar, only that with the balloon financing offerred in Long Island, you qualify for lease incentives which turn out to be an addition 3,500 or so.
 
If financed at 0% I would imagine the Purchase Price would be similar to yours.
#545 of 661
Re: Buying a 2008 Grand Cherokee need some help [paule] by schimmey
Feb 11, 2009 (9:16 am)
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Replying to: paule (Jan 28, 2009 9:19 pm)

I just purchased a 2008 Grand Cherokee Laredo with X26 and 250 miles on it (part of Chrysler Buy Out package that they had to sell). The price I paid was 21,500.
The Credit Union said by NADA ratings it was only worth 19,025, I had to purchase gap insurance for 250.00 to cover the difference between value and loan ... my new wonderful Jeep is worth it to me, I love it and truly believe that owning a Jeep (this is my third) is definetly a 'Jeep Thing' that only us Jeep owners can understand
#546 of 661
2009 Purchase Timing by paule
Feb 11, 2009 (6:17 pm)
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Anyone have any opinions on when I should purchase an '09 GC Overland?
 
I was planning on waiting until April thinking that the government will have either pulled Chrysler's loan or given them some more money by then (March 31st is that date).
 
Also, Jeep will probably unveil the new version by then and I'm somewhat interested in seeing what it looks like. However, I doubt that would affect my decision any.
 
I've always felt the longer you wait, the better the discount you'll get. I'm not so sure in this case. Auto sales were terrible last month and I think the dealers are probably pretty desperate right now.
 
I'd like to get $12k to $14k off of MSRP. I may be dreaming but I'm looking at a $45k MSRP so I'm guessing they have a bit more room to come off of MSRP as compared to a 26X package.
 
Any thoughts?
#547 of 661
Re: 2009 Purchase Timing [paule] by verdugo
Feb 11, 2009 (8:19 pm)
Reply

Replying to: paule (Feb 11, 2009 6:17 pm)

If you don't think that the new model will affect your decision, I say to go for it now.
 
Why? B/c at some point production levels will match demand, and the rebates will go down. And as you say, the market is in the tank. I say you should buy on the last day of the month.
 
Let us know what you decide.

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