Here’s where I am at on a deal for a 2018 Jeep Grand Cherokee Limited as of tonight. Pretty fully loaded.
MSRP: $47670
Discounts: $4390
Rebates: $2750
Net price: $40,530
MF: 00017
Residual 51% $24,311.70
15k Miles/36months
$2k DAS, roughly $1200 including first months, a remaining $800 or so is being put down.
35 Payments: $444 + 7.75% tax= $479.46
If I configured the Calculator correctly, I’m at a leasehackr score of 8.4years CALCULATOR | LEASEHACKR
I know I’m just above the 1% rule as it’s not $0 down. I figure I have $1k more to go for it to be a great deal, but i could be mistaken. As is, do you Hackrs find it a pretty solid deal and give the green light? Other dealers in Southern California wouldn’t go this far on this 2018 model with an MSRP around $48k
Definitely dont put any money down. The 2K down is about $50-60 per month on the payment so in reality your $529-539 per month. That’s too high. I think besides not putting the 2K down, there’s another $1000 or so I would bring the price down. Also your rebates, what are they?
Dealer discount and incentives seem good. Residual isn’t great as expected. What fees are included in your drive offs? I leased a Durango RT last month and with first month’s payment, fees and so on I only paid $1300 down, tax here is 10.75%, payment much higher at $550/mo. FCA is bad about trying to charge lease return and other erroneous fees that can add up to $1,000 or so. If they won’t wave those fees, ask for $1,000 more off sale price to compensate. Not sure how deep you are into negotiations.
You’re right. So it’s not $2k that I’m putting down per se. It’s $2k total due at signing. Of that $2k, There’s govt fees and first months payment and relative tax to that first month. I agree. I thought another $1k off would be best. When I asked for $500, they pretty much said no way, they’re tapped out and hanging up the towel. As of last night, they wouldn’t budge any further.
I calculate $80 doc plus “$582.89 GOVT fees” in addition, however I could be overlooking something. I’ve just added the dealers screenshot my my original post up top for a more detailed look.
Also, if you have anyone in your household that has any other lease - there’s also a conquest to look at. I believe that’s $1000. Also, do you need 15K miles? if not I would bring it down to 10/12k. Also, get some numbers on a 24 month lease. What bank are you going through? Allys? Capital?
Also - the residual - Just doing a quick check on Edmunds, I saw 52% residual, yours says 51%. I’d check that.
