2020 Grand Cherokee Altitude

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1

Hey guys, here is the offer I got. Any advice?
Year, Make, Model, and Trim: 2020 Grand Cherokee Altitude
MSRP: $43080
Monthly Payment: $37150
Drive-Off Amount: 1059
Months:36
Annual Mileage:12000
MF:0.00007
Residual:22832.4
Monthly Payments: 427/month including tax
Incentives:
Region: Massachusetts
Leasehackr Score:
Leasehackr Calculator Link:

2

No rebates?

3

The rebates and incentives are included into the discount which makes the price drop to $37150. Not sure the break down though

4

Knowing how heavy incentives can be for a jeep your dealer discount might have been small. However, you did not get taken to the cleaners. Next time you need to look at all lines of equation. Enjoy the car

5

What happened to the A5?

6

I am missing the monthly payment. Can you please point it out for me?

7

Was this an offer or did you sign already?

8

It would be 427/month including tax.

9

No I have not. I haven’t negotiated yet so I guess I can get more discount on the MSRP

10

Haha still exploring options here

11

Just get a A5 or S5 from one of the brokers here.

Audi over JGC any day of the week and twice on sundays

12

They don’t have the color I like and because the model they have are well packaged, they are around 100 more than the GC though

13

Hey guys, An update from the dealer after negotiation. The MF went up a lot (0.00007 -> 0.0013) and the residual went up a little ( 22832 -> 23263). The dealer told me it’s up to the bank and they have no control on it. Did they mark up the MF?

Thanks guy!

Year, Make, Model, and Trim: 2020 Grand Cherokee Altitude
MSRP: $43080
Discount: $2112
Rebates: $6250
Residual: 23263 ( 54%)
Selling Price: $34718
Drive-Off Amount: 407 (First month payment)
Months:36
Annual Mileage:10k
MF:0.0013
Residual:22832.4
Monthly Payments: 407/month including tax
Region: Massachusetts
Leasehackr Score:
Leasehackr Calculator Link: I filled out the number but it’s $427 instead of $407. I am not sure how to put in the cal. Can anybody help.

14

A 4% discount from MSRP is pretty bad. You want to target 7% below invoice which, usually, is something like 10% below MSRP. Lots of room to improve here and should get the payment closer to $350/mo.

With regards to MF & RV, it would be odd for these to change in the middle of the month. More likely they ran your credit and/or switch banks. is this FCA or US Bank? If FCA, check for the buy rates on edmunds.

As for your calculator, you don’t provide information on fees, so I’m doing some guessing, but this gets you closer to the $407 quote;

1 Like
15

Aim for a bigger discount. The Grand Cherokee (while a nice truck) is so dated and stale. New model is coming out next year.

Get em to go down to $350 a month, otherwise I’d steer clear of the JGC. I wouldn’t pay $400+ a month on an outgoing model.

16

@z0lt3c is on track. Target 10% before the rebate. May not get there, but definitely a lot closer than that piddly 4%.

As for your other question, since the RV changed, that means they changed banks. Likely a bigger rebate in exchange for the higher MF.

18

@Qbrozen
Thanks for the info. Should I insist on the original MF?

19

Depends what rebates came with that.

20

It’s most likely FCA because the MF buy rate is .00007 and RV is 54% based on edumunds.

Going from .00007 to .00013 sounds like a tier-1 to tier-2 change. Did you complete a credit app? Your talking a .01% change in APR so don’t get so work up about this where you miss the fact you are short a few grand on your pre-incentive discount.

Going from .00007 to .00130 is a huge jump and I assume this was a typo, or, then, yes a markup. I would argue this.