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Jeep Grand Cherokee, Car Leasing, SUV
#180 of 1385 Re: 2006 GC Laredo Lease Help!! [sueher13]
Nov 13, 2006 (2:40 am)
Hi sueher13. You did a very good job at getting all of the information that you need to evaluate this deal, except that you never mentioned if this truck is 2WD or 4WD. For now, I will assume that it is 4WD. Let me know if I am wrong. A base 2006 Jeep Grand Cherokee Laredo 4WD has a spread of around $2,400 between its full MSRP and dealer invoice price. You were quoted a discount of a little over $1,700 on this truck. This is probably around $600 to $700 over invoice, which isn't bad. The money factor and residual value that you were quoted for this truck look good, too. If you like it, I personally don't see any reason not to pull the trigger on this deal.
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#181 of 1385 Re: Question about Jeep GC [mschoener]
Nov 13, 2006 (2:48 am)
Hi mschoener. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.
What you were told is correct, DaimlerChrysler's lease program for the 2006 Jeep Grand Cherokee is pretty good right now. While it is normally not a good idea to get out of leases early (it can be very expensive), I believe that Chrysler Financial is running a lease pull-ahead program on the 2006 Jeep Grand Cherokee right now. This program will waive up to three remaining lease payments for current Chrysler Financial lessees of any vehicle if they lease a new Jeep Grand Cherokee. This program should cover three of your four remaining monthly payments.
In your post you mentioned that the dealer said this truck's price is $29,000. Is this its MSRP or selling price? Either way, I need you to provide me with both numbers to give you a detailed assessment of this deal. Let me know what these numbers are and I will tell you what I think.
Prices Paid Forum
#182 of 1385 Re: Help with Grand Cherokee lease [waterddd]
Nov 13, 2006 (3:02 am)
Hi waterddd. You never mentioned the model year of this truck or whether it is 2WD or 4WD. For now I will assume that you are interested in a 2007 Jeep Grand Cherokee Limited 4WD. Let me know if this assumption is incorrect. A loaded version of this truck has a spread of around $3,800 between its full MSRP and dealer invoice price. You were quoted a discount of $2,761 on this truck. That's probably around $1,000 over invoice. $1,000 over isn't terrible, but if you are in an area that has a decent level of competition, there is a good chance that you will be able to beat this price. Make sure to stop by the following discussion to see how much other community members have paid for similar trucks lately: "Jeep Cherokee (All): Prices Paid & Buying Experience".
Chrysler Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Jeep Grand Cherokee Limited 4WD with 15,000 miles per year are right in line with the numbers that you were quoted, .00081 (you missed a "0" in there) and 57%, respectively.
The bottom line is that this id a decent deal. See if you can negotiate the selling price down a little bit, if not this deal is still pretty good.
Prices Paid Forum
#183 of 1385 Re: How good is this deal? [seligadiga]
Nov 13, 2006 (3:12 am)
Hi seligadiga. The 2006 Jeep Grand Cherokee has a spread or around $3,800 between its full MSRP and dealer invoice price. It also currently has $5,500 in cash incentives on it plus an additional $1,000 for models that have been in dealer inventory since April 1st. You have a total of $9,300 to play with if this truck isn't that old and $10,300 if it is. Either way, the discount pf $11,000 that you were quoted is a very good deal.
You never mentioned how long the lease that you are considering is, so for now I will assume that it is 36 months. Let me know if you want something different. According to my calculations, if you were to lease a 2006 Jeep Grand Cherokee Limited 4WD with an MSRP of $41,000 and a selling price of $30,000 through Chrysler Financial right now for 36 months with 10,500 miles per year, your zero down, pre-tax monthly payment should be around $344. As you can see, this payment is a little less than yours, probably even when sales tax is figured in because I worked up a zero down lease. Consumers can and should any vehicle that they want without making any sort of capitalized cost reduction. Consumers who make large down payments on leased vehicles risk losing them if their vehicles are totaled in an accident or stolen and never recovered. You should only pay your truck's first month's payment, security deposit, and acquisition fee at signing.
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#184 of 1385 Re: Recap of 2006 Grand Cherokee Lease - good deal? [sandycohen]
Nov 13, 2006 (3:16 am)
Hi sandycohen. You never mentioned the model year of the truck that you want, but I assume that we are talking about a 2006 Jeep Grand Cherokee Laredo. In my opinion, you can do better than a $1,500 discount on this truck. DaimlerChrysler dealers still have tons of 2006 models left that they are desperately trying to unload. If I was in the market for this truck, I personally would shoot for a selling price that's right around dealer invoice. This deal isn't bad, especially with all of the cash incentives that are available on this truck right now, but you should shoot for a slightly larger dealer discount.
Prices Paid Forum
Nov 24, 2006 (4:51 am)
Okay for everyone thats thinking of buying but dont think your ready right now, get yourself ready quick because your probably not going to be able to get as good of deals as you can right now. The total rebates can go all the way up to 7500!!(3500 base rebate, 2000 lease cash, 1000 old age bonus+1000 lease loyalty.) In addition, you may be able to get a military discount(not positive if that still exists) and $750 rebate if you are an employee at a five star Chrysler, Jeep or Dodge dealership. However, if you do work at one you probably already have gotten the pressure put on you to buy one, just like I did. I just bought myself an 06 GC Limited Hemi with every option(U-Connect, Nav, DVD, Tow) with a sticker of 43,955 for only 7,300 for 24 months. Its about 7300 because I did a one pay lease so I could eliminate the money factor but im only 19 years old and got this for myself! I never saw myself driving this much car but when you get a deal like that, I couldnt refuse. When you put what I paid into 24 payments, they are only 307! My car did however have 2,000 in write down because it was a demo but it was worth it (my only penalty was two percent less residual.) But anyways in conclusion if your looking to get one of these in the next six months or less, go in now because these rebates will more than likely be gone this month and just become dealer cash (which is money that doesnt have to go to the buyer)and not be as high as they are now at all. There already extending these deals alot later in the year than they usually do but with that much 06 inventory left they have to be aggresive. Im selling most our 06's at invoice or less depending on how old the vehicle is. Good luck out there!
#187 of 1385 Guaranteed Employee Pricing?
Nov 28, 2006 (2:30 pm)
A friend of mine who works for Chrysler passed along to me an "employee choice" code number which allows me to lease a Jeep Grand Cherokee beginning at dealer invoice, minus dealer incentives and other discounts. How can I be sure the prices I'm quoted are really reflecting these discounts? Will they show me actual invoice paperwork? I've already talked with a salesman who sounds like he's trying to pull something over on me -- he said they rarely ever do 3 year leases, mostly 27 month and sometimes 39 month. I've never heard of a 39 month lease... When I have a specific deal I'll post it for your input; just wanted your thoughts on this general subject before I visit dealers next week. Thanks!
#188 of 1385 Re: Guaranteed Employee Pricing? [kellim]
Nov 29, 2006 (11:24 am)
Chrysler employees buy off of an 'EP' price that is listed on the dealer invoice. Also, get a new salesman. 36 month leases are very common and ensures your vehicle is covered under warranty for the entire lease....so they don't try the old 'extended warranty' bullsh1t.
#189 of 1385 Help with Jeep lease - please!
Nov 29, 2006 (5:34 pm)
I am very new to this and need advice. I am about to lease a 2006 Jeep Grand Cherokee Limited – MRSP 40,140.00 with $2000 down for $483.53 per month for 27 months, 12,000 miles per year. I am getting out of a Sienna lease one year early and the Jeep dealership is basically buying the Toyota for the $20,900 buy off quoted.
Is this a fair deal?