2017 Jeep Grand Cherokee 4x4 V8 lease deal NYC

Signed Deals & Tips
1

Year, Make, Model, and Trim: 2017 Jeep Grand Cherokee 4x4 V8

MSRP: 55270
Selling Price: 51555
Rebates: $1500 +$1000 conquest
Trade-in: 0

Months: [36]
Annual Mileage: 10,000

MF: .00006
Residual: %55

Security Deposit: [$0]
Total Due At Signing: $880 (first payment+DMV)
Monthly Payment (incl. tax): $580

Zip Code: 11379
Sales Tax Rate: 8.875

I feel like I can do better on the selling price but no one is budging, also only one dealer within 200 miles has the configuration that I want.
Opinions on the deal ?

2

Search forum on previous GC deals. Problem you do not have many rebates now. Did you check if there is IDL bonus cash?

3

IDL cash on the GC is tied to US Bank and Ally.

Neither do FCA any favors on the residual.

4

Is your selling price including the rebates?

Or is it $51,555 - $2500 ?

5

Yes it’s 515xx minus rebates

6

No special pricing like Employee or Supplier?

If not - that’s a really good price on a GC.

7

It’s $1500 under invoice, what do you consider a good price in NYC area? I can get 6% under invoice from out of state but they are marking up the money factor so not so much of a deal either.

8

IDL is any third party bank. Long Island you can get a credit union. My jeep was 2% less residual but the 3500 idl cash made it worthwhile.

9

$1500 under invoice on a GC is very strong,

As a broker, here in Michigan, the giveaway state - that’s incredibly strong.

They’re only making VGP(volume growth program) monies on it - that’s a good deal.

Is it really worth your time to do an out of state deal with a higher MF? How much are you saving? Divide that by the extra time it will take and ask yourself if it’s worth it.

10

Starting to think that the 3% savings isn’t really worth the travel and time might get it locally after all. I am just waiting for April In hopes there will be a better cash back offer, however I dont want to shoot myself in the foot In case it the rates go up. I am trying to avoid IDL and Ally because their contracts are very specific in case I need to dump the Jeep prematurely.

11

If it’s dealer arranged yes. If it’s customer arranged it changes the structure to a type one retail… aka no IDL cash.

I should have worded that better.

12

The credit union allows lease transfer and with no fee at all based on a recent call to them.

13

Ally sometimes has a ridiculous fee when selling back to the dealer, $2500 or $5000 it’s in the contract. I rather deal with Chrysler, I also don’t qualify for Long Island unions as I am in Queens.

14

Do you have any idea what the profit is on that deal (-1500 under invoice)? Seems like not much since they are banking on the volume bonus. Also, do you think it’s worth waiting next month for more cash back?
Thanks

15

I think i got 2k under invoice. But 1500 is just holdback really.

16

They’re losing that $1500 back of invoice.

I don’t know the exact VGP payout on GC this month but they’re not getting rich off you.

Total profit is probably <$1000

No on next month but I’m impatient! If you can wait, do it. The structure on the GC isn’t going to change - it’s the FCA crown jewel.

17

Thanks for the reply. I though someone was blowing smoke up my ass but they told me same thing you did in regards to the profit so I guess it’s the best I can do which I am fine with. Thanks for your help. I might give business to my local broker since he’s able to get me the same deal, let the guy make some money without the hassle of dealing with the finance dept. I’ll wait until April since I have two more payments left on my current car, don’t want to be stuck making two car payments for too long.
Thanks again.

18

Sounds like a plan.

You can roll those two payments into the GC

Not sure what your current lease is - but it might qualify for another rebate if you haven’t already applied it.

19

Its a BMW lease, best case scenario is to keep it, its only 2 months no big deal. At least I’ll be able to get the conquest incentive.

20

BMW is definitely on that list - Overland/Summit GC is targeted to high end German products.