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Prices Paid: Buying & Leasing Experiences Jeep Commander Lease Questions
196 messages, Last post on Aug 27, 2009 at 2:24 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: Car_man (Aug 11, 2008 1:23 am)
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Replying to: christiands (Aug 11, 2008 5:24 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 7:03 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 7:37 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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Replying to: seeme4jeep (Feb 03, 2009 2:03 pm) So for those of you wanting to go through this process all I can say is good luck!!
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Replying to: stljeep (May 19, 2009 2:24 pm) I have a 2006 Commander: Residual is $16,472.50, they offered $15,772.50 I am way over on miles, but I like my Commander & have had 0 issues with it. While the TMV is lower becasue I am over my miles, the value is close. I'm wondering if I am speaking the right person to discuss negotiating further.
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Replying to: afleming75 (Jul 30, 2009 4:51 pm) |
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My 2007 Commander Sport lease ends Nov 1st and i've been pondering wheather to buy or turn in. By then i'll be about 4K over mileage (.20 per) The sticker was under $31K. I plunked $2500 down and have been paying a ridiculous $229.17 per month. Went to dealer today and learned buyout is $15,900 (just read in the forum that price is non-nego?) Is that true? Want to get that figure lower so my payments wouldn't jump too much. What to do? Thanks
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Replying to: jgk1000 (Aug 21, 2009 1:29 pm) In order to determine whether you should purchase your vehicle at the end of your lease, you need to compare its purchase price to its value on the open market at this time. Even though it states your car or truck's purchase option price on your lease contract, you should place a call to the bank that you are leasing it through just to make sure that you have the correct figure. When you do so, it never hurts to try to haggle with them. Some banks will negotiate the lease-end purchase prices of vehicles. If your initial contact at your bank is not willing to lower your vehicle's purchase price, you may have better luck if you work your way up the ladder to a manager. There is a good chance that they will not lower your vehicle's price, more often than not they will not, but again you don't have anything to lose by asking. As I said earlier, once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: sysop, "Real-World Trade-In Values" #, 14 Dec 2000 11:07 pm. If your vehicle's purchase price is less than or similar to its current value on the open market then you may want to consider buying it. If not, walk away. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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