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Prices Paid: Buying & Leasing Experiences Jeep Grand Cherokee Lease Questions
515 messages, Last post on Oct 25, 2008 at 10:11 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: turbanski (Jan 08, 2008 7:39 pm) I think the Jeep (Chrysler-Dodge) dealerships in general are negotiating fairly well on the models with larger, gas-consuming engines. We were surprised at how much we were able to get off the MSRP of our JGC Overland, but of course, we had no trade to deal with (we sold it separately to CarMax, making it easier to negotiate our deal). The way the lease works is this: Find out what interest rate you think you qualify for (within what the manufacturer is offering) and the residual value of the vehicle you are looking at. Factors that impact this value are specifically the car trim level (ie Laredo vs Limited vs Overland vs SRT) as well as 2WD vs 4WD and the number of miles you will drive it over the lease (15K per year, 12K per year. etc). If you ask car_man for specific figures on the vehicle you are considering, he should be able to give them to you. He will know the current lease money factor (interest rate) and residual value percentage for the vehicle you want--they come from the manufacturer. You have to tell him how many miles you expect to drive, how many months your lease will be for and which trim level of your car you expect to buy. Figure the residual from the MSRP (sticker), but your capitalized cost should be what you negotiate the price down to (usually plus tax, title, license),,,,then you should be able to calculate your payment. As stated by others, you can put money down to reduce your payment. But remember that if, by chance, you car gets totatled or stolen, that money is gone forever. So most forum experts recommend putting as close to zero down as possible when leasing. Some cars have better lease support (ie lower interest rates and rebates) than others. I got my Jeep GC last month, and they were offering a decent money factor/interest rate and lots of incentives ($4500 plus what we negotiated off of MSRP). It all works toward a much lower lease payment. In fact, we were able to get the JGC at a lower lease payment than the Liberty, whose sticker was $10,000 lower but had no incentives, either rebate-wise or lease/money-factor. By the way, my credit score was only around 700, and I was still able to qualify for Chrysler's lowest money factor/interest rate available for my vehicle. Don't know if it's because we were existing Chrysler Financial customers or not.... I hope this info is helpful. Good Luck, and let us know how it works out!
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Does anyone have the current money factors and residuals for the Grand Cherokee Overland & Limited for a 36 month, 10.5K/year lease? Also, is the MyGig discount still available? Thanks!
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Replying to: chigirlintexas (Jan 09, 2008 8:13 am)
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Replying to: Car_man (Aug 31, 2005 3:19 am) |
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Replying to: jgriffs (Jan 09, 2008 12:07 pm) |
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DOVER DODGE. rockaway NJ I can't get the problem of vibration on my new 2007 GC limited The service manager said he placed a call to Chrysler factory District manager about the major Vibration and the shifting into over drive  60+ MPH If you live in NEW JERSEY and are looking to BUY a new jeep............... make sure you drive it on rt#80 60-80 mph, If its vibrates at the speed........ DON'T BUY OR LEASE IT. I HAVE BEE WAITING 3 WEEKS for the Chrysler district manager to set an appointment to see why my NEW JEEP GC 5.7 Hemi VIBRATES 60-85 MPH
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Replying to: baldhill37 (Jan 09, 2008 3:33 pm)
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i was hoping I could get some numbers ran for me I am looking at an 08 JGC 5.7L with an MSRP of 42,070. i am looking for a 24mth lease with 12k a year and $0 down. the dealer quoted me the below information, can you tell me if this is a good deal and what areas can i look to achieve an even better rate. This was the dealer's first quote so I obviously think there should be alot of room....but please tell me where to go with it. Payments $597.83 per month this has a 0.00050 money factor and a residual value of 53% it does not include license or sales usage tax.
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Replying to: baldhill37 (Jan 09, 2008 3:56 pm) Thanks for the heads-up (although it's too late for me, if there is a problem!) |
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Hi , Does anyone know the residual value of a 2008 Jeep Laredo x package with the navagation package added in? Im also adding in 3 end payments from the current lease to the new lease totaling $1126. The dealer is quoting me $500 per month for 36 months and 12,000 miles. Do you think this is a good deal? Also if they are adding in 3 payments from my current lease should these payments include the interest per month that I have been paying or should these remaining 3 payments be reduced?
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