Last post on Aug 27, 2009 at 2:24 AM
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Jeep Commander, Jeep Commander SRT-8, Car Leasing, Car Buying, SUV
#211 of 219 Re: Chrysler Financial Residual Buyout [christiands]
Jan 19, 2009 (7:03 pm)
Just to let anyone know, if anyone is even watching what Jeeps are going for, I got the final lease end purchase from Chrysler as follows:
2006 Comm Limited 4wd
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.
#212 of 219 Re: Chrysler Financial Residual Buyout [christiands]
Jan 22, 2009 (7:37 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
Residual after 27 month lease: $23,175
Stated Buyout from Chrysler: $20,375 (this was non negotiable)
#213 of 219 Re: Chrysler Financial Residual Buyout [melram]
Jan 23, 2009 (6:06 am)
When I asked several months before the lease end they offered something similar to what they have told you. I was also told that counter offers would not be considered.
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.
#214 of 219 Chrysler Financial Lease Buy-Outs
Feb 03, 2009 (2:03 pm)
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.
#215 of 219 Re: Chrysler Financial Lease Buy-Outs [seeme4jeep]
May 19, 2009 (2:24 pm)
I just went through purchasing my Jeep Commander when it went off lease and it was the worst experience I have ever had with buying a vehicle. I actually had cash and we did come to a number (which was $5300 off the initial price I was given when I leased the vehicle) but Chrysler Financial would not send me a Payoff Statement or anything in the mail. I kept calling them for this because I went passed the date I was supposed to turn in my jeep waiting for this statement. I originally went to the dealership where I leased my jeep but they were no longer a registered jeep dealer so they told me I could go to another dealership or just call Chrysler directly. Anyway, I waited and fought for over two months getting a dealership involved to help me (all the while they kept imposing fees on the price they originall quoted to me over 2 months ago). I was SO angry about the whole ordeal and I am still pretty upset that even though I like my jeep, it almost went back and I was going to buy a foreign car because I thought maybe they accepted CASH! I can now see why Chrysler is in trouble. The right hand definitely doesn't know what the left hand is doing. I was quoted so many different numbers and told so many different things that it was really upsetting at how disfunctional things are there. They FINALLY faxed over a PLPP Dealer Payoff Letter to the salesperson I have been dealing with today. I am supposed to go in there tomorrow with a cashiers check. I guess I am still on the fence.
So for those of you wanting to go through this process all I can say is good luck!!
#216 of 219 Re: Chrysler Financial Lease Buy-Outs [stljeep]
Jul 30, 2009 (4:51 pm)
Has anyone recently been speaking to Chrysler Lease people about buying out there lease. I am in TX & they quoted me $700 off the residual value & said that was non-negotiable before we even discussed my plans. I called back & spoke to a different rep & he said the same thing.
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.
#217 of 219 Re: Chrysler Financial Lease Buy-Outs [afleming75]
Jul 31, 2009 (9:28 am)
When is your lease up? I am 82 days out and I heard once you get inside 30 is where they start to offer better deals
#218 of 219 $229/mo Commander Lease Ending
Aug 21, 2009 (1:29 pm)
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
#219 of 219 Re: $229/mo Commander Lease Ending [jgk1000]
Aug 27, 2009 (2:24 am)
Hi jgk1000. I don't know what Chrysler Financial's policy is on negotiating the end-of-term purchase prices of leased vehicles, but it wouldn't hurt to give them a call to see if they would be willing to reduce your truck's price. You don't have anything to lose by asking.
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.
Prices Paid: Buying & Leasing Experiences Forum