Currently have a lease on the table for a 2018 Grand Cherokee Overland for $490/Mo 36/Mo 12k/Year
MSRP is $50k
Lease Price $47,500
1st month payment due at signing.
they’re giving $10k for a trade in that we owe $7100 on. I know they are giving us more to work the price, but we just don’t feel like dealing with selling it on our own.
I’m in Illinois
Can I do better?
I’d prefer a 2019, but trying to keep the price down.
For one, make sure you get the $500 coupon from Truecar.com…That’s about $15 a month. Have them cut you a check for the trade and negotiate the new deal separately. based on the information provided, they are discounting the Jeep $2500 and giving you $2500 equity on your trade. I’m not a genius, but it looks like you are buying that car at full sticker. Keep in mind that they will sell your car for profit. Just looking at truecar using a chicago zip code, the average selling price on that car is about 15% off MSRP which is way more than they are offering you. Seems like a pretty bad deal IMO. Make sure you shop around.
They aplying trade equity to lower the cap cost it seems. Looks like it from info posted…I would have them apply enough for drive offs and cut a check for the rest.
I agree, looks like a bad deal. Dealer here in CA is offering $5,500 off sticker + $5,000 rebates (for purchase i’m sure) and that’s just the deal they’re advertising on their website.
You should get about $10k with incentives. They’re not doing you any favor by giving your more on your trade.
Theyre giving almost $2900 equity in the trade. Credit score is in the 690 range. I’ll check out TrueCar thanks
I went to a different dealer who advertised a price of $450/mo without a trade in, but when I went, they told me $620/Mo. waste of time and don’t want to keep dealing with these shady dealerships
your credit will raise your money factor for sure. You might even have to put some money down. But the discounts you’re getting are not nearly enough. You might want to try starting the process through Truecar rather than walking in to the dealer and starting at sticker.
Then don’t go into a dealership. Communicate solely via email until all terms have been hashed out. Hope you didn’t go to Sherman. That place is the worst.
It was DuPage. I communicated via email and they said that’s the price, but when we got there they seemed like they didn’t really want us there and then offered $620/mo to really push us out the door.
What should I request/do before I go to the dealership? I just received a quote of $411/Mo 36/mo with 12k/miles on a 2019 Overland without a trade in. Seems too good to be true and don’t want to waste my time going in again.
Get your trade appraised online by carvana vroom etc and try carmax if you have one around.
I did do Carmax and they offered us $8k for the car. the dealer offered $10k, but like @johnh22 said, its not as great as it sounds.
Just start with Truecar. That way you start at the Truecar price instead of sticker.
Get it in writing. If it’s via email then if they screw you, you can at least try and get another dealer to match. Try and get as much detail as possible (i.e. MF, RV, incentives & rebates, dealer discounts,tax, title, license etc.)
Also, definitely do Carvana and Vroom on your trade prior to going. It would be better to get the dealer to match the best offer you receive cuz then you don’t get taxed on the “profit”, but selling to one of those companies is simple and if the offer is higher from them, go with them.
Truecar is showing a $2,000 dealer discount for this model or roughly 4% discount. That’s garbage. Truecar would be a waste of time.
Thanks, I’ll check it out
Truecar is a terrible site now, IMO. It only takes a few suckers to push the “fair price” way up, and I’ve seen dealers use that to pressure people. I’m fairly sure dealers also have to pay a few hundred bucks for the referral, and you get one guess who they pass that cost on to. I’ve seen a few dealers around me even advertising “we don’t use truecar and pass the savings onto you.”
Calculate actual invoice here: http://wk2jeeps.com/wk2_2018_pricing.htm
Aim for 4% under that, before any incentives. It should be fairly easy. If you have 30 days to spare, sign up for the affiliate program at tread lightly, and then 4% under will be no problem (or you can push for a bigger discount).
Chrysler also often has an incentive for lower credit scores (if leasing through CC), but you have to ask for it as it seems not all the dealers are aware of it. That would help offset the likely MF increase.
On your point about joining tread lightly to become an affiliate is this super helpful?
It’s been my experience that it has been.
Some anecdotes:
A local dealer (after like the 4th trip to finance and back) insisted they couldn’t do 4% under. I said well what if I have tread lightly? He said he was pretty sure it was just a small incentive that didn’t stack, but he’d check. He looked it up on him computer in front of me, then said “hmm? let me point this out to finance.” He came back 5 minutes later with all the paperwork and said it was no problem now (which tells me I could have gone lower).
i was helping a friend on a purchase (credit not good enough to lease) on an in inventory Renegade. They wouldn’t budge on price. I said I could order a new one using tread lightly for less than their offer. All of a sudden the price was no problem.
And then on the other end. I was shopping for some cheap Challengers. I emailed about 7 dealerships. One said they don’t use tread lightly because they already discount it too much, another said that would lower the price by a flat 400, three of them didn’t know what it even was (and were too lazy too google it apparently), the rest would “talk to me about it when I came in.”