Last post on Dec 11, 2013 at 6:03 AM
You are in the Prices Paid - Buying & Leasing Experiences
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Jeep Grand Cherokee, Car Leasing, SUV
#349 of 1406 Re: Lease terms 2008 [douglasny]
Oct 11, 2007 (1:34 am)
Welcome douglasny. Don't worry about the double posts. I deleted the other one. Since you have never leased before, 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.
Here is the specific information that you're looking for. Chrysler Financial's current buy rate lease money factor and residual value for a 36 month lease of any 2008 Jeep Grand Cherokee Laredo 4WD with 12,000 miles per year are .00002 and 46%, respectively. The numbers for an otherwise identical 39 month lease are .00028 and 45%. Make sure to take the $1,000 lease cash that is currently available on this model into account when negotiating the capitalized cost for your lease.
Prices Paid: Buying & Leasing Experiences Forum
#350 of 1406 Re: Lease terms 2008 [Car_man]
Oct 11, 2007 (5:45 am)
apologies but I was actually looking for the 2007 model #'s.
Please post when you have a chance.
Thanks a lot
#351 of 1406 Re: Lease terms 2008 [Car_man]
Oct 12, 2007 (5:14 pm)
I have been looking at a 2008 Grand Cherokee Limited.
Here is what I have been offered so far...
- MSRP = $40,650
- Offer is $34,647
- $4,211 off MSRP
- $792 Dealer Cash for MyGIG (available to dealerships, but not advertised)
- $1,000 Lease Incentive
- Residual = 46% (36 month / 10,500 miles per year)
- MF = 0.00001 (yes, Four zeros. Supposedly there is a "top tier" lease program available by Jeep)
Am I a fool if I do not take this or do you think there will be better offers by the end of the year? We don't need a new car until Dec/Jan when our current lease is up, but I am afraid I may "miss the boat".
Thanks in advance for your feeback!
#352 of 1406 Re: Lease terms 2008 [carhawk1]
Oct 13, 2007 (4:33 am)
Sounds like a great deal. I thought the cash was for MyGig with navigation which has an MSRP is $1650. I'm wondering if they should be giving you more than $792
#353 of 1406 Re: Lease terms 2008 [coffeeman2]
Oct 13, 2007 (6:26 am)
Thanks Coffeeman2. According to Edmunds, the 2008 MyGig has an MSRP of $900 and an invoice cost of $792. This was consistent with what the dealership also informed me. It would be hard to pass on that one, but I am pushing to see if I can get another $500 off...
#354 of 1406 Re: Lease terms 2008 [carhawk1]
Oct 17, 2007 (5:54 am)
Isnt there now $3k cash allowance on the 08 limited grand cherokee? I was curious to see how those leases worked out.
#355 of 1406 2007 Jeep Grand Cherokee 4x4
Oct 25, 2007 (1:51 pm)
I am considering leasing a 2007 Grand Cherokee 4x4. V8 or Hemi. Limited for Overland.
What should I be paying per month, what are the current money factors? How much should they be discounting the 07 now? Would getting an 08 make any sense? The mileage I think wouldn't much matter--the only reason I am considering leasing a new grand cherokee is because of the lifetime warranty and I am in Law School right now so low payments are key. I am toying between buying a used 01-04 vs. leasing, but I love that new warranty program having spent 3500 on a differential on my old grand cherokee.
Also, does anyone have any thoughts on the differences between limited/overland or whether I should get a hemi?
ps. anybody have experience getting out of Honda leases? I made a mistake and leased an accord 6 months ago and I hate it!
#356 of 1406 Re: 2007 Jeep Grand Cherokee 4x4 [joshmmm]
Oct 25, 2007 (4:14 pm)
We went with the 2008 Limited (Hemi, MyGIG Navigation and 18" Chrome Rims) for my wife.
Money factor is 0.00001
Residual = 46%
MSRP = $41,790
Sales Price = $35,451 + Tax/Title/License
(There is a $1,000 rebate and also an incentive to dealers on MyGig Navigation)
We put quite a bit down, $5,000, and our payments are $378/mo for 36 months (10,500 miles/yr)
I drive a 2007 Grand Cherokee Overland (Yes, we love Jeeps). The 2008 Limited is very much the equal, here are some of the upgrades they made to the 2008 Limited since 2007:
- Standard V8 has much higher output, over 300hp (We only took Hemi on our 2008 as they could not locate one with preferred options without)
- Rear seats are heated (not available in 2007)
- Mirrors on Limited or Color coded with body (2007's only had this for Overland)
- Front Fascia much improved and fully matches body color (lower air dam on 2007 was black on Limiteds)
- Interior upgraded, nicer control layout.
- Dash display is totally new, very nice white digital look
- Navigation system is upgraded with touch screen (MyGIG)
If you buy, a 2007 might make sense. If you lease, then the 2007 would have a worse residual...might even have a lower lease payment with the newer 2008 in a lease.
Payments are typically less with a lease than a new vehicle, but it is very important you maintain the vehicle and are careful not to exceed your mileage limits.
Hope this helps!
#357 of 1406 2008 Grand Cherokee Laredo 4x4 residual & money factor?
Oct 30, 2007 (3:29 pm)
Hello Carman, hope all is well.
I was hoping you could provide me with the residual and money factor for a 2008 Jeep Grand Cherokee Laredo 4x4. I want to do a 15K mile lease for 36 or 39 months.
Thanks a lot.
#358 of 1406 Re: 2007 Jeep Grand Cherokee 4x4 [carhawk1]
Oct 31, 2007 (6:04 am)
Was that 5000 down or 5000 out of pocket? Did that payment include tax?