Complete newbie here, although I’ve studied the forum for a while.
I walked into a Jeep dealership, and the quote below is what the guy came up with. I know he overshot me, but I’m hoping at least some of you can help me either counter, or walk in to the next dealership with better numbers.This quote is for:
2019 Jeep Grand Cherokee Laredo 2WD
36months/12k miles, in CA
Also - from the Edmunds forum, my details for this car should be:
MF: 0.00020
RV: 46%
$2500 incentives
Per Edmunds forum, the MF should be at “0.00020” for a 36 month, with 15k miles. Why is it higher here for a 36/12?
Also from Edmunds, the Residual should be at 46%. This says 45% which is a small difference, but I’m looking for ways he might’ve been sneakily getting his cut (again, I’m new).
I’m assuming the rebates are $2500 (from Edmunds). I know $2250 is also not far off but hey, $250 is $250
Am I missing something else here? Any help is much appreciated.
I would say he did more than “overshot” you. He ran you over, backed up over you, and then ran you over again - slowly. A payment of $642 for an MSRP of $34k is outrageous (as is that whacked MF). I just plugged a similar model into Honcker and got $380 with $2,900 DAS (Not CA, however, that’s with zero work).
Tons of people have posted Grand Cherokee Limited trim deals on here with high 300/low 400 monthly payments with minimal down. Don’t ever go into or speak to that dealership again.
45% residual is terrible, that will never lease well. Probably need to talk to some other dealers, maybe a ally or someone else has a better residual and/or more cash, idl money. Keep shopping and report back.
Negotiate via email or text before walking into the dealer. I have a Grand Cherokee High Altitude that was $53k with an additional $2500 negative equity from my prior lease and my payment is lower than that.
Oh wow. I knew it was bad but it seems it’s much worse than I thought, haha.
I’ll try these internet managers through email and see what I can come up with. I’ll let you all know any updates.
Quick question - when I begin to negotiate, should I come up with my numbers first? Or let them quote me, then talk them down? Any preferred strategies?
just send out a bunch of emails to different dealerships. look for a specific car you want they have on their website and reference the car stock # and lease terms you want, and how much you are willing to put down. Any dealership that comes back saying to come in you can pretty much cross off your list, they are playing games. the ones that give you best priced quotes are the ones to go back and forth with to continue negotiating price. It’s still early in the month but as it goes on the dealerships more willing to make a deal will continue to contact you.
Edmunds Forum is probably quoting Chrysler Capital, but that dealer got the quote using another bank. So the mf will be different.
Same as above. The dealer cannot change the residual value. It is set by the bank.
My preferred way of doing it is to find vehicles you like on different dealership websites and contact the dealer asking them to break down the advertised discount (because it will always include a bunch of incentives that you don’t qualify for). Then use the info they give along with the info from Edmunds to calculate the monthly cost to lease. Negotiate an even bigger discount if possible and then tell the dealership to run a lease quote using the sale price they offered.
All of it should be done over email if possible. If you go into a dealership, be prepared to walk away no matter what.
Check out the 2018 models too if there are any left in your area. They will be discounted more, have better incentives, and dealers will be eager to get rid of them.
Check out the 2018 models too if there are any left in your area. They will be discounted more, have better incentives, and dealers will be eager to get rid of them.
what do you think is a reasonable % discount off 2018 models at this point? There’s quite a few 2018 GC Laredo’s and Limited’s still available in my area (NY) and I’m wondering if I can get snag one for 300 or less per month. I’d imagine to get sub 300 it’d have to be a Laredo but maybe a few dealerships realllly want to get rid of the 18’s.
I got 12% off a month ago. I wouldn’t settle for less than 15% off now. But it looks like there’s not as much lease cash, so I doubt you’ll see anything sub 300.
Any help is much appreciated.