Ask the Car People.SM


Jeep Grand Cherokee Lease Questions

1176 messages,  Last post on Jun 18, 2013 at 6:35 AM

You are in the Prices Paid - Buying & Leasing Experiences Forum.

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

Messages Page 93 of 118

#916 of 1176 Jeep Grand Cherokee Limited Lease Help! by jeepgc12

Apr 25, 2012 (8:41 am)

Hi,
 
This is my first time leasing and I need to make sure the deal is OK. This is for a 2012 GC Limited 4x4 3.6L V6 with Luxury Group II and 20" wheels.
 
MSRP $42,510
Negotiated Price $38,300
$2,452 due at start including first payment, plates, doc, and title
Monthly payments $456 + tax ($485 including tax)
10k miles per year / 36 month term
Money factor is .0055
Residual is 51%
Buy out at end of lease is $24,180
 
I have a 782 credit score, so paying 13.2% APR (.0055 MF) seems really high. How does that residual value compare? Per Truevalue.com, $38,300 is a great price for the car, but are these payments fair? What should I negotiate for?
 
Thank you!
Jim

#917 of 1176 Re: Jeep Grand Cherokee Limited Lease Help! [jeepgc12] by jeepgc12

Apr 25, 2012 (11:37 am)

Replying to: jeepgc12 (Apr 25, 2012 8:41 am)
To clarify, the interest rate used in the lease is 0.55%, not a .0055 money factor--the dealership misquoted me originally.
 
Thanks for your help!

#918 of 1176 Re: Jeep Grand Cherokee Limited Lease Help! [jeepgc12] by ucla56

Apr 25, 2012 (12:11 pm)

Replying to: jeepgc12 (Apr 25, 2012 11:37 am)
I'm confused about lease rate. What money factor does a lease rate of 0.4 equate to?

#919 of 1176 Re: Jeep Grand Cherokee Limited Lease Help! [ucla56] by jeepgc12

Apr 25, 2012 (3:08 pm)

Replying to: ucla56 (Apr 25, 2012 12:11 pm)
I believe a 0.4% interest rate equates to .000167 MF, and a 0.55% interest rate (mine) equates to a .000229 MF.
 
Apparently Allied no longer uses MF and instead uses interest rates because MF just confuses everyone!

#920 of 1176 2012 Grand Cherokee Overland Lease Question by jmza2

Apr 26, 2012 (9:09 am)

This is my first time leasing and I want to make sure I am getting a good deal on the car. Here are the particulars:
 
2012 Jeep GC Overland
MSRP: $47,585
Negotiated Price: $41,985
Terms: 36 Month w/ 15k miles .55 interest through Ally (I don't think they do money factor)
The sales reps also told me he factored in the $1,500 lease incentive.
Monthly cost $559 + $36 in tax = $595 total
 
I'm negotiating on the phone right now as I don't believe in going to the dealer unless the price is firm.

#921 of 1176 Re: 2012 Grand Cherokee Overland Lease Question [jmza2] by jmza2

Apr 26, 2012 (9:38 am)

Replying to: jmza2 (Apr 26, 2012 9:09 am)
also tossing $2,000 at it as a down payment.

#922 of 1176 Re: Walked out of dealership... Need help. [Car_man] by jordanhojo

May 01, 2012 (11:07 am)

Replying to: Car_man (Apr 23, 2012 4:05 pm)
In Chicago, on top of the 10.25% tax (which is charged on the ENTIRE price of the car, not just the portion for the lease), there is an 8% "use" tax that is charged on each lease payment. Very expensive to lease in Chicago.

#923 of 1176 Re: Walked out of dealership... Need help. [jordanhojo] by chiguy5

May 02, 2012 (2:42 pm)

Replying to: jordanhojo (May 01, 2012 11:07 am)
Just leased an Overland for 610/mo 12K/year, 0 down, all in including tax. I am in Chicago Northern burbs.

#924 of 1176 Re: Walked out of dealership... Need help. [chiguy5] by jordanhojo

May 04, 2012 (8:01 am)

Replying to: chiguy5 (May 02, 2012 2:42 pm)
Chiguy - The city of Chicago charges an extra 8% - not applicable in Burbs. Where did you get your lease from? I'm looking to lease shortly and my leases for $0 down were coming out to be $650 for a Laredo X with 20s.

#925 of 1176 Ally Lease problems by slu2012

May 24, 2012 (1:10 pm)

Hello I am new to this forum, On April 26 I leased a 2012 Jeep GC basic model for $363 a month. All I had to put down was first month. It has been a month and Ally has no record of the lease being finalized, so I can not make a payment. I called Jeep yesterday and they said Ally needs proof a residency. Hear is the problem, I leased the jeep in a state I will be moving to in one month, so at this time I do not have proof of residency to give Ally. Jeep knew this when we made the deal, but now they are saying Alley needs proof a residency which I can not give. Does anyone have any idea what can be done or what might happen? Thanks for your help.

Messages Page 93 of 118

To POST a message, please Sign In.

Advertisement

Browse by Category

Browse by Vehicle
   View All Vehicles

Browse by Board
Browse by Topic
View All Topics

Edmunds Community

Advertisement