MSRP: $40,680
Sale Price: $38,209
Incentives: $3250
MF: .00021
RV: $19,333.20/49%
Base Monthly: $458.42
Total Monthly: $501.97
First time leasing. This is the initial offer from the dealer. He is a friend of friend at least (not that its worth that much).
The sales price is 6% off MSRP, what should I be able to realistically expect? Edmunds TMV is 38,764 (but Edmunds Suggested Price is $35,514… confused by the difference there?)
Customer cash, I know I don’t want to put anything down. Im getting clarification on that. (UPDATE: this was just cap reduction… I told them I don’t want to put any money down so I am getting an updated one without)
UPDATED OFFER
I would appreciate any tips or advice. I spent the entire weekend learning so I at least know how to read the financials.
The discount seems absolutely laughable for a Grand Cherokee considering past deals. Don’t bother dealing with this friend of a friend. Every time I have seen some relationship like this posted in junction with a lease it has been an awful deal
You should be paying $1000 DAS and about $360 a month for that vehicle 12k that’s what I got for my girlfriend for that vehicle the $1000 DAS was fees and 1st month
Whats the best way to find out what a reasonable discount is? On edmunds TMV is higher then their offer. (But that TMV is higher then the edmunds estimated value which I’m not sure what the difference is).
This is the piece of the puzzle I’m missing.
See if there is a Grand Cherokee specific forum that reports prices paid. There must be one.
Also ensure that you are choosing the trim level that leases the best. On the Grand Cherokee, MF and incentives, and residual can vary wildly from trim to trim (look on Edmunds to see various numbers)
In my experience (NJ) you can get Grand Cherokees at the 1% of MSRP with $0 DAS, and I have leased a couple myself, plus friends, in different years/months and with different incentives available. So for that MSRP you should not be paying more than $400.
JGC Altitude trims don’t lease as well as Limited trim. If you can get to low $400s with under $1000 DAS, that is a good deal. Limited trims can lease for under $400. Just search the forum and you’ll get an idea but the #s will vary from region to region and month to month.
I got a much better deal with another dealer. Right now I’m looking at $487 after taxes with 0 DAS.
MSRP $41,225.00
Selling Price: $37,725.00
Rebates: $3250.00
MF: .00021
I’m going to tell him if he can do $37,500.00 that I’ll come in and sign. I think this is a good deal.
$487 is astronomically high for an altitude. I’m pretty sure these are in the $420ish range. I know altitudes don’t lease well but $487 is awful.
What are the terms of that? 36/15?
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36/10
Im not seeing how to possibly get a better deal. $37500 is 10% off MSRP.
Limited trim MSRP is higher, might be a better residual but the payments are higher. (It may be a better value).
This is CA zip code maybe 420 in other states.
I had one dealer offer $607 so we are at least in the range of a good deal vs a steal.
Incentives should be better on the limited, which should bring the payments down. 37,500 is 10% off with incentives, but without incentives they are only discounting it like $400.
I will say that I have not seen a super great GC deal in the past few weeks. Any rush or could you wait until next month? Maybe incentives will be better. I guess you could be right, maybe deals aren’t as good in CA for you on Jeep’s but I’m just surprised at how high you are getting for quotes on an Altitude. Just seems crazy!
$37,500 is the sale price. Adjusted cap amount is $34,881. That puts the base monthly at $419. I think I’m getting the best I can at the moment. We can’t really wait. We just spend $400 this month fixing our old 2001 Jeep and it’s getting sold this weekend! Thank you everybody so far.
