2018 Jeep Grand Cherokee Sterling Edition (Need Help! - First Time Leasing)

I’m negotiating my first lease and having trouble exactly what goes into the calculator to see if it is a good deal.

The dealer is asking for $1,500 down, but I’m trying to push for no down payment.

Please help!

California - Lease is 36 months/12k

Jeep Grand Cherokee Sterling Edition

***MSRP - $43,290
***Savings - ($3,500)
***Less Rebate - ($3,000)
***Net Sales Price - $36,790

Capped Fees/Taxes - $595
Up Front Fees/Taxes - $884
Total Taxes & Fees - $1,515.37

Cash Cap Reduction - $1,500 (Is this the down they are asking for?)

Net Cap Cost: $37,274.66

Lease Residual: $22,510.80

Money Factor: 0.00069 (Tier 1)

Payment: $505.66 including taxes

So is that $3k dues at signing? The taxes and fees plus $1500 down? It is a terrible deal either way. Honcker shows me $450/mo with just first month due on a $49k msrp Sterling Edition for 36/12k.

And truecar shows $5500 dealer discount before incentives in my area on a $44k msrp.

Terrible deal.

Grand Cherokee leases well. It’s not difficult to get these under 1%, especially if you are in Los Angeles (and if you’re not, consider getting it from LA since you’re in California).

@Qbrozen $1,500 Down includes 1st month and is the only out of pocket costs.

How can I get the payment lower? The dealer took $6500 off the MSRP.

@mah4546 thanks for the response. I’m in San Diego. Any ideas on how to negotiate this deal? Dealer gave $6500 off MSRP. Not sure how they came up with such a high payment with such a low MF.

the dealer only took $3500 off. The other $3k is a rebate.

Go here: https://forums.edmunds.com/discussion/46754/jeep/grand-cherokee/2018-jeep-grand-cherokee-lease-deals-and-prices/p73
And find out the base MF and rebates for the Sterling edition 36/12 in your area. Then go to truecar and find out what you can expect for a discount BEFORE incentives in your area. Then you can calculate a reasonable expected payment.

@Qbrozen above gave great advice. Another thing I’d do: deal with dealers in OC and Los Angeles. They work in much higher volume. They have more room to play with price. The extra 4 hour round-trip to pick-up the car can save you $1,000-$2,000.

Los Angeles is the cheapest place in America to lease a car.

So I see you got a reply on Edmunds. And as you can now see, that dealer is marking up the MF significantly. To the tune of $35/mo. Couple that with what should be at least another $2k dealer discount and you’re talking nearly $100/mo difference.

@mah4546 Great idea! I’ll see what I can get from OC and LA. I appreciate the help.

@Qbrozen Dang! I should of got the Edmunds info before I talked to the dealer. The MF that they presented seemed okay after converting to APR. But 1.656% vs 0.216% APR is a huge difference.

Thanks for your help!

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