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Jeep Grand Cherokee Lease Questions

512 messages,  Last post on Aug 20, 2008 at 2:43 AM

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

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#229 of 512 Re: Lease quote on 2007 Limited [mmorris64] by kindzcar Dec 30, 2006 (10:42 am)
Replying to: mmorris64 (Dec 30, 2006 10:20 am) You are getting killed here. I am not certain what the H Package is, but your dealer is taking you for a ride. I am in the NYC Metro ares, and dealers here need to move a certain amount of cars by 1-1-07. So they are crushing numbers to get lease deals signed. My car was not even on the lot they sent someone to get it and I will have it on Tuesday. I believe that the MSRP on the car is close to $44K.   Try having your lease based upon 27 months, you might get some relief there. Other then that, tell the guy my deal and that you will sign today if he matches. I am not sure of the factors as I just wanted to get to a number and I deal with the sales manager at my dealer since I am a return customer.   Good luck
#230 of 512 Is this a good deal? by osuwk Dec 30, 2006 (4:54 pm)
2006 grand cherokee limited hemi MSRP $40,700   $320/mo for 27 months $2700 out the door (prepaid taxes+prepaid miles+title&license+documentation fees+1st payment) 15,000 miles/year Replies to this message: kindzcar (Dec 30, 2006 9:29 pm) osuwk (Dec 30, 2006 10:07 pm) Car_man (Jan 16, 2007 5:34 am)
#231 of 512 Re: Is this a good deal? [osuwk] by kindzcar Dec 30, 2006 (9:29 pm)
Replying to: osuwk (Dec 30, 2006 4:54 pm) Why would you put down 2700???? Every 1000 down is about 35 per month on the lease. What do you have in the car???? Replies to this message: osuwk (Dec 30, 2006 10:07 pm)
#232 of 512 Re: Is this a good deal? [kindzcar] by osuwk Dec 30, 2006 (10:07 pm)
Replying to: kindzcar (Dec 30, 2006 9:29 pm) here in ohio a recent law passed saying that you have to pay all taxes upfront and cannot roll them into the payment- unless the dealer pays for the taxes upfront and rolls them into the payment for you. So, taxes on this lease total ~1100 (dont forget you have to pay tax on all the rebates as well). then I paid about 10 cents a mile to upgrade from a 10,500 mile a year lease to a 15,000 mile a year lease. If I rolled those miles into the payments or paid for them at the end, it would have been more expensive. Total, the extra miles came to a little over $1000. Then I had to pay for the first months payment, title, license and a documentation fee. Everything came to $2700. The actual cap cost reduction is actually $0. I went to many dealerships, Jeep, BMW, toyota, honda you name it. When a dealership says 0 down, that's not always the case. Atleast here in Ohio, you have to include taxes, extra miles (10 cents a mile is actually pretty cheap these days--volkswagen for ex was asking 18 cents a mile to prepay for miles) not to mention there is always title license and documentation fees to pay as well at most dealerships here. Lastly, 1000 rolled into the payments would not have been $35, it would have been $55 because most dealerships charge roughly $20 interest for every $1000 you roll into the payment. If they rolled any down payment into the payements at 0% interest--then either they are very generous or need to get rid of a car badly. That's how these jeep dealers for ex make money. They advertise very low monthly payments with large down payments which they know most people dont have the money to pay. So when you go in, they gladly offer to roll the down payment in for you and charge ~$20 for every 1000 they roll in. For example a 2007 grand cherokee laredo advertised for $200/mo with $2000 down for 27 months would actually cost $310 a month if they rolled the $2000 into the payments for the customer (200+35+35+20+20=310)--and dont forget that the $2000 does not include tax or extra miles or license, title or documentation fees either.
#233 of 512 Good Lease Deal? 2006 Grand Cherokee Laredo V6 2WD by jewell06 Dec 30, 2006 (10:19 pm)
MSRP: 28,235 Gross Cap: 21,638 Residual: 12,195 (56%) Lease Rate: .00313   Mo Dep: 262.34 Mo Lse Chrg: 105.90 CA State Tax: 31.30 TOTAL PAYMENT: 399.54   no money down. only 1st payment and reg due at signing.   I asked for 36 month, 15k (my miles ranged 12-14k last 3 yrs). However, i did not yet verify if warranty exp at 36k. if it does i might as well do 39 month to lower payments.   I feel as if the lease rate is high...equates to 7.51%. but dealer has said b/c he dropped cap cost so much, he has no more room to lower lease charge.   Thoughts? Replies to this message: Car_man (Jan 16, 2007 5:45 am)
#234 of 512 Do these deals reflect low lease rate or blind discounting? by jamescpublic Dec 31, 2006 (10:04 am)
Do these deals reflect low lease rate or blind discounting? Does Chrysler really have a good enough credit rating to manipulate the interest rate below 6.5%?   http://www.edmunds.com/new/2007/jeep/grandcherokee/100775971/incentives.html?vdp- =off&setzip=94536&state=CA   In the above lease, I can put a 66.6% residual and a 0.744% interest rate (0.00031 Money Factor from post #224, above) and make the numbers match up.   PV = 24,921...30,330 - 3,500 - 1,650 - 259 (MSRP - rebate - Down - fee) FV = 17,866.90 - 425 (66.6% residual - turn-in fee) I = 0.744% (0.00031) N = 27 equals PMT of 259   Or I can use the Money Factors shown in post #228 and show a roughly $2,000 blind discount   PV = 22,849...30,330 - 3,500 - 2,072 - 1,650 - 259 (MSRP - rebate - BLIND -Down - fee) FV = 17,866.90 - 425 (66.6% residual - turn-in fee) I = 5.23% (0.002179) N = 27 equals PMT of 259   Or I can use the Money Factors shown in post #233 and show around a 3,000 blind discount   PV = 21,872...30,330 - 3,500 -3,049 -1,650 - 259 (MSRP - rebate - BLIND -Down - fee) FV = 17,866.90 - 425 (66.6% residual - turn-in fee) I = 7.51% (0.003129) N = 27 equals PMT of 259   I am trying to figure out the exact residual and interest rate (money factor) because I am eligible for Chrysler's friends/family/supplier discounts (down to 1% below invoice) and I don't want the dealer to try and "make it up" by not giving me a good interest rate or missing a blind discount.   Any help on the interest rate and residual for the deal linked above would be appreciated. Thanks!
#235 of 512 Limited Lease Deal - Signed Today by melram Dec 31, 2006 (3:12 pm)
Just signed the following lease deal today. I am happy with the deal. Dealers really willing to negotiate today on these cars.   27mo, 10.5k/yr MSRP: $39,280 (Limited 4x4) NEG Price: $35,344 Rebates : $5,500 ($3,500+ $1,000 Loyalty + $1,000 Coupon) Residual: $23,175.20 (59%) Money Factor: .001 money factor = (2.40% APR) Gross Cap Cost: $36,656 ($35,344 + $700 Acq Fee + Sales tax $612) Monthly pmt: $350 I put down $450 out of pocket. Replies to this message: osuwk (Dec 31, 2006 5:22 pm) Car_man (Jan 16, 2007 5:47 am)
#236 of 512 $1,000 Coupon by misterep Dec 31, 2006 (5:20 pm)
I see several references to a $1,000 coupon. What is this and are there any restrictions to its' use? Thanks in advance....
#237 of 512 Re: Limited Lease Deal - Signed Today [melram] by osuwk Dec 31, 2006 (5:22 pm)
Replying to: melram (Dec 31, 2006 3:12 pm) So in total, did you pay $2082 up front? I just added the $700 acq fee, the $612 sales tax, the $350 fist payment and $450 down payment.
#238 of 512 Employee leasing by berrisj1 Jan 03, 2007 (9:07 am)
A few questions... any help appreciated.   I am looking to get out of my current lease and was using the pull ahead for my last three payments. They will equal about $1500.   I am looking to get an 26X/MP3 stereo/u-connect/quadratracII for 27mo and 12K/year. My location is Detoit Michigan suburbs.   I will have friends and family papers.   This will be my 5th JGC and I feel I get screwed somehow everytime. I thought with the employee discount there was no need to worry about anything. If I use friends and family and lease through Chrysler Financial is there anything to negotiate. Is it a fixed money factor and residual?   Any thoughts or help? Thanks in adcance. Replies to this message: Car_man (Jan 16, 2007 5:52 am)

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