Little confused on how to go about leasing a Cherokee through Ally and not Chrysler Financial. It appears on the surface like it could be a nice deal but seems like there should be a catch. Looks like Jeep has 4500 in IDL Bonus Cash which I have determined is for leasing with either Ally or US Bank. Looking at Ally the Residual on a 24/10 2019 Limited 4x4 Cherokee is 71% and the MF is quite low, around .23% APR.
Using a modest dealer discount to get to a selling price of 33,000 on a 34,500 MSRP Cherokee, and adding in the 4500 in Bonus Cash, the payments are 178 before TTL. Seems to good to be true so I feel like I am missing something here.
I couldn’t find a dealership that would use Ally and those numbers. Most either use Chrysler, or some other bank with different numbers that you can’t find without asking that particular dealership.
Because of all the different independent banks I found trying to hack a Jeep to be particularly exhausting as you have to discover those unique numbers at each dealership and I just gave up. Most of the MFs I got were quite high and the residuals a bit lower. Plus on the 2019 they aren’t doing much discount as they are brand new.
One story I hear is that IDL cash is a combination of all types of money. includes total of military, grad, low credit money and regular. does this make sense? dealer talking about 2900 discount + rebate on a 35K limited. we shall see.
That’s completely wrong, whoever said that has no idea what they’re talking about
IDL cash is the rebate if you go through any third party bank, besides Ally, and besides the U.S. bank chrysler program (U.S. bank has different rates and residuals if you use the chrysler rebate or the IDL rebate)
thanks. havent had a chrysler before - not familiar.
it was weirdly coincidental the numbers added up though.
does 2900 discount look good for this model?
I know this is old but thought I would toss in some info. I had a dealer try to combine the IDL and ALLY lease but the deal failed as the rebate can not be used on the incentivised leases for Cherokees.
