If I can get this deal is it good or at least decent? Grand Cherokees don’t seem to be leasing amazingly, at least not the latitude trim. Thanks in advance.
MSRP $42775
Selling price - $34985
Incentives- $4000 included in selling price
MF .00036
Residual 49%
Dealer free $660
Doc fee $100
Due at signing- $0
Monthly payment including tax- $475
Payment without tax- $445
Dealer has offered this selling price but with marked up money factor at 0.00079 and some junk fee of $500 that he couldn’t explain. Payment close to $500. Finance guy couldn’t explain it and when I tried to walk him through the last numbers and why the payment made no sense based on the selling price he says,
‘I’ve done 5000 leases and never have gotten that in depth. Can’t explain it. This is our program. Leases are based on monthly payment. Selling price doesn’t mean anything’
I mean not sure what the mileage here is or how well they lease but its still over the 1% rule, 0 due at signing is always a good thing, dealer is definitely hiding cash in the deal, most people don’t ask as long as it meets their monthly.
You are barely getting 9% off before rebates. You can easily do 13-15% off MSRP BEFORE the rebates. Just shop around on the internet. Don’t be afraid to look for the best price across the country. You can always either ship the car or fly in and drive it back. . With this car you should be able to do $380-$410 a month with the minimums (Registration, Title and First Month) due at signing for 36/10. Maybe even 36/12. You should also look at the Limiteds. They have higher incentives at $5500.
Do not call to talk to them. If you call, you are gonna get a sales person on the floor who has little to no control over pricing. Work with the Fleet Manager/Internet manager. If you are having trouble finding the email address of the fleet manager, use Edmunds price promise or Truecar by filling in information using the zip code of the dealership you want to connect with. You will typically have the internet/fleet manager respond to your request via email. They have more control over the pricing. Another thing to understand is that most pricing is attractive around month end. I’ve done some amazing deals on the last day of the month, just before the dealership closed for the day. Or use a broker. @Benedetto is highly recommended for FCA products in my experience.
Man start at 12%? That must be new because even at 9% you are well below invoice. This board would be swimming with hacker deals. A recent posting had total of 11,000 in incentives. That would make for some sweet deals.
It’s not any specific dealer. Just look at Auto trader or CarGurus. Look for cars that have sat on the lot for a long time and then start negotiating with the internet sales department of these dealers. Here is the deal that I did.
%12 off MSRP before incentives is towards the upper limit for GC’s, not starting point. That said, now is the best time for unconditional rebates ( at least in SoCal). If @rexthuhking made a deal more than %12 PLUS all the unconditional rebates, he may have one of the best deals in the entire USA…
Thanks for the clarification @Mike_Ezginder. Like I mentioned in my deal post, a combination of time on lot, end of month and motivated dealer. YMMV I guess.
