Last post on Jun 18, 2013 at 6:35 AM
You are in the Prices Paid - Buying & Leasing Experiences
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Jeep Grand Cherokee, Car Leasing, SUV
#916 of 1176 Jeep Grand Cherokee Limited Lease Help!
Apr 25, 2012 (8:41 am)
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.
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?
#917 of 1176 Re: Jeep Grand Cherokee Limited Lease Help! [jeepgc12]
Apr 25, 2012 (11:37 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]
Apr 25, 2012 (12:11 pm)
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]
Apr 25, 2012 (3:08 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
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
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]
Apr 26, 2012 (9:38 am)
also tossing $2,000 at it as a down payment.
#922 of 1176 Re: Walked out of dealership... Need help. [Car_man]
May 01, 2012 (11:07 am)
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]
May 02, 2012 (2:42 pm)
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]
May 04, 2012 (8:01 am)
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
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.