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Prices Paid: Buying & Leasing Experiences Jeep Commander Lease Questions
192 messages, Last post on May 19, 2009 at 3:24 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: stater09 (Jun 15, 2008 7:03 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Has anyone had any recent negotiations with Chrysler Financial on the end of lease purchase of their vehicle? I have a lease that will be ending this fall and wondered what people have been able to negotiate. It seems that auction prices won't justify the residuals, and I read that they are losing $5k+ per vehicle that they are taking back in this segment. Any thoughts or recent experiences would be appreciated.
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Replying to: christiands (Aug 05, 2008 11:48 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: Car_man (Aug 07, 2008 3:53 am) I talked to a couple of others that I know are going through similar situations and I will let you know what we're finding. First, a friend's Commander is due this month and CFS' first offer to him was $4k off the residual without even asking for a discount. We'll see what he can do; I'm pushing him to offer much lower in writing to see how they respond. His is the test case I guess, so I'll update as needed. Another friend has a minivan, so it will be interesting if there is a difference between SUVs and other vehicles. In my opinion (educated, as it relates to what is happening with automakers), there isn't an OEM that wants cars off leases now. Auction values are way off, driving used car values down and the earnings down due to inflated residuals. A possible strategy I'm looking at is negotiating not only the purchase price (assuming someone wants their vehicle), but also to have CFS finance it and asking for a low interest loan on the vehicle. I would stay on their books, but probably would be treated differently than taking it in. What do you think?
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Replying to: christiands (Aug 08, 2008 8:13 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: Car_man (Aug 11, 2008 2:23 am)
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Replying to: christiands (Aug 11, 2008 6:24 am) 2006 Comm Limited 4wd MSRP: $43,030 Residual after 27 month lease: $24,500 (approx) Purchase from Chrysler: $16,515 The Jeep only has 17k miles, so I worked out a deal for it. I think overall this is a good vehicle for what it is and this value is fair.
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Replying to: christiands (Jan 19, 2009 8:03 pm) Were you able to negotiate this buyout price or was it already set by Chrysler? My lease on my 2007 Grand Jeep Cherokee Limited is up in April and I am considering purchasing this vehicle. I also have 27 month lease and only have around 18K miles. The Chrysler rep. stated they would discount the price by $2800. I asked her if this price was negotiable due to the SUV market and she stated the Chrysler sets the discount for the vehicles. I was hoping to get this for lower $ amount but will have to do some research and try again. 2007 Grand Jeep Cherokee Limited MSRP: $39,280 Residual after 27 month lease: $23,175 Stated Buyout from Chrysler: $20,375 (this was non negotiable)
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Replying to: melram (Jan 22, 2009 8:37 pm) My advice is to tell them that your mileage is at or near the lease limit, and you are not sure if you will purchase it but that you are considering it. About 1 month before lease end they discounted heavily. I suggest calling about 1 month before you have to turn in the vehicle and getting an update. |
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Here is how it works. Or at least what I've been told by Chrysler Financial. I am a veteran salesperson at a dealership in Milwaukee. When you come close to lease end, within a couple months, Chrysler will issue what we call a PLPP(Preferred Lessee Purchase Price). This is a number that you can buy-out your lease for. Not all leases will qualify but most will. This is a number that they think they will be able to sell your returned lease for at auction to a used car dealer. This is a non-negotiable price. Either you take it or you walk away from your lease vehicle. In most cases it is a better price than a dealer could sell you an identical vehicle for. I have called Chrysler myself to get about 20 PLPP #'s for clients of mine. Of the 20, 18 have qualified, and about 14 have bought out there lease. The other 4 just wanted a different car. But in all cases I would not have been able to sell them an identical used vehicle for the same price. It is a very good deal if you like the car you're driving. The dealer or your salesman does not make any money from it. But Chrysler requires that you do the paperwork through a chrysler, jeep, or dodge dealer. Personally, for the work that I do to set up all the paperwork and make sure everything gets handled appropriately a tip would be wonderful. A fair tip would be $20-$30 for the 1-2 hours of time that your salesperson will spend to make sure everything is handled smoothly. I have had some tip and others think that I'm getting paid by the dealership to do the work. Salespeople only make money if they sell you a different car. If you are good to your salesperson they will go the extra mile when you have an issue that needs resolution. Don't forget to purchase an extended warranty to protect your investment.
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