Looking for feedback on this potential 2018 Jeep GC Limited deal:
**MSRP: $45,375
**Selling Price: $41,117
**Monthly Payment: $415
**Cash Due at Signing: $0 (taxes, license, registration, doc rolled into payment, dealer paying 1st month)
**MSD:None
**Incentives:Not sure ($9250 was on the first lease sheet)
Adj. Capitalized Cost: $34,503
**Months:36
**Annual Mileage:10k
**MF: I believe it’s marked up to .00191 to get the 9250 in incentives
**Residual:$23,595 (52%)
**Region:MN
**Leasehackr Score: ~9.0, 1% rule of 0.91%
Thoughts? We also have ~$1400 in positive equity in our current lease that I kept out of this deal as I wanted less complications in the numbers. Any suggestions on how to best handle that separate piece to make sure that equity doesn’t get lost in any updated numbers?
Wow, $415 for a $45k car is a nice deal. You can even shave off another $11 or so since the dealer is paying 1st month. So effective $404 or so looks like a sweet deal.
Perhaps I’d almost consider just asking if they’d do 12k miles/yr if you’d sign on the spot… if not, I’d still take that deal.
As far as your negative equity, maybe look at carvana or vroom and how they’d value it.
I should have clarified - we currently have about $1400 in positive equity on our current lease. Payoff is $19,847, Vroom just offered us $21,250. Curious if we should just go with Vroom since I feel like the dealer may shave off a lot of the $1400 if we use it to bring down our monthly payment.
the dealer could be using non-Chrysler Finance. tried to do deal here in New England on similar priced GC. when the dealer’s MF/RV and rebates were out of whack with what I found on Edmunds his explanation was that “Chrysler Finance is affiliated with Chrysler in name only and are a nightmare to deal with at lease end”. I think he was using USBank where the MF was higher, RV a tad lower but rebates were much higher. overall quote was 30-40+ month over what I calculated using CF numbers.
Thanks for the feedback everyone. We wound up getting it for $418/month with the dealer making the first payment for us; calculator link is below. They used U.S. Bank for the financing, so a decently higher MF but ~$3,000 in additional incentives come with it.
Also it took them forever to get an estimate on my wife’s trade-in lease, but they ultimately cut us a check for $1,100 since we only had 24k miles on a 36k lease. All in all it was a pretty smooth experience; happy to pass along references if anyone is looking for a Grand Cherokee in the Minneapolis area.
