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Jeep Grand Cherokee, Car Leasing, SUV
#836 of 1176 Grand Cherokee Laredo 26X Lease Deal
Jan 20, 2012 (12:37 pm)
I am new to the forum and to leasing but have tried to do my homework and take advice from this forum.
Got the dealer to give me this info (exactly as he presented to me). Is this a good lease deal
I live in CT.
2012 Jeep Grand Cherokee Laredo 26x package 4x4 - 6cyl True Blue with the NAV system and dual Pane Sunroof - in True Blue
Money down: $4,500.00 (all inclusive, title, tax tags reg etc..)
Cap cost: $31,664.00
Residual: 50% is $19,355.00
Term is 36 months 15,000 miles per yer
Payment: $346.75 plus tax of 6.35% = $368.77
Thanks, the help is very much appreciated.
#837 of 1176 Re: Grand Cherokee Laredo 26X Lease Deal [stuartjgc]
Jan 20, 2012 (2:05 pm)
To add more detail, I would qualify as Tier 1 and the breakdown of the 4500 is as follows
Reg $188.00, first month pay 368.77, tax $395.99, bank fee $870.00, Dealer Proc fee $329.00. = $2151.76
#838 of 1176 Re: money factor/residual [iamakimmer]
Jan 25, 2012 (8:28 pm)
Does 2012 Laredo 4x4 with e group for 320 all in sound ok.
Taxes and bank fee included. Just pay tags
Sticker is 31,820
#839 of 1176 Re: money factor/residual [turbot22]
Jan 26, 2012 (10:03 am)
How are you guys negotiating such low monthly payments for this package? Every time I do the lease calculator, the monthly payment comes above $500 with all of the above numbers entered in. I'm looking to lease a 2012 Laredo 4x2 MSRP 27,999. Currently, in my area, Jeep has a $309/month lease promotion for the base model Laredo. Am I better off just negotiated the purchase price of the car and then telling the dealer I want to lease?
Thanks for any help. I'm new to leasing. Don't want to get screwed.
#840 of 1176 Re: money factor/residual [its2loud]
Jan 26, 2012 (6:08 pm)
Please remember that a lease is based on three variables: Negotiated sales price; Residual Value (RV); and Money Factor (MF). In a monthly lease payment, the RV determines the monthly depreciation component while the MF determines the monthly interest charges. Then, in most states but not all, your tax is assessed on the monthly payment.
RV is a fixed percentage set by the financial institution who will underwrite the lease. There is a base rate MF that is suggested by the financial institution as well but dealers have the lattitude to mark it up as another source of profit. Both RV and MF are based on your model, lease term, and mileage per year
My unsolicited advice is,
- Ask Carman on this forum for the RV and MF for the lease term of interest so you have that in your backpocket and can compare to the numbers the dealer suggests
- Negotiate your best sales price on the truck
- Pay $0 down (cap cost reduction) and only pay 1st month's payment and any DMV fees
My apologies for being pedantic as I'm simply trying to help.
#841 of 1176 Re: money factor/residual [dewarsandsoda]
Jan 26, 2012 (8:57 pm)
Thanks so much for this info. It's all very helpful and appreciated. I would like to get a gauge on what the MF and RV for a lease are so I know what I'm dealing with when I go into the dealer. I just don't want to go in blind because then I know I'll get taken.
#842 of 1176 Lease numbers
Jan 26, 2012 (9:01 pm)
Can you tell me what the RV and MF are for a 2012 Jeep Grand Cherokee 2x4 26E package. 3 year term 12,000 mpy? Thanks so much.
#843 of 1176 MF and RV on JGC models?
Jan 27, 2012 (11:58 am)
Hi Car Man!
Could you provide the MF and residuals on the jeep grand cherokee laredo X as well as the JGC Limited?
I'm getting such crazy numbers that what the dealer is saying/calculating does not make ANY sense!
#844 of 1176 Re: money factor/residual [dewarsandsoda]
Jan 27, 2012 (12:00 pm)
Quick question about your post. If the lease is determined base on the negotiated sales price - why is it that the NSP can be 32K but the cap cost is 37k (ie barely below MSRP?
Shouldnt the significant decrease in negotiated SP make the capitalized amt also lower?
#845 of 1176 Money Factor/residual value question
Jan 27, 2012 (5:53 pm)
I am looking for the residual value on a 2012 Jeep Grand Cherokee Laredo 4x4 with 26X package and panoramic sunroof 10k miles and 12k miles on a 39 month lease.
Also looking for the money factor and rebates currently being offered.
Thanks for your help!