2020 Jeep Grand Cherokee Trackhawk *Lease*

Ask the Hackrs
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1

Hi guys, I was looking to possibly lease a 2020 Jeep Grand Cherokee Trackhawk.

I’ve done very basic research but of course, this vehicle has a high MSRP with low discounts and not so great of a residual value.

I had the dealer draft me up a lease just to see how the numbers looked. Normally, I don’t put any money on leases and only pay 1st month and tag. However, on this specific lease, I told them I would give $6,000 down just to see how it would impact the overall numbers. This is supposed to be a 36 month lease, 10k miles per year.

MSRP $99,415.00

Selling Price $98,621.00

Their F.E.G. (Front End Gross) appears to be $7,484.05. Just to verify, this is the money they are making from this specific deal correct?

I’ve attached a photo of the paper they originally showed me. Besides it being a bad deal (I’m aware it is) it looks to me like some of those numbers are off.

$98,621 x 0.59 (Residual) = $58,186.39

$98,621 - $58,186.39 = $40,434

$40,434/36 Months = $1,123 base monthly payment before taxes, interest and fees.

Taxes on form reflect I’m paying $3,956.15. However, that’s the amount for $66,000. $66,000 x 6 % $3,960.

Again, I’m aware it’s a horrible deal and not looking to put money down. Only considering leasing since I change cars often. As such, I’m trying to learn as I go along. What just looks out of place by looking at this?

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2

RV is based on MSRP, not selling price.

I’ll let others have some of the fun, too.

:bat:

2 Likes
3

Wow. 101010

4

That payment will get you into a sweet Cayenne or X5M or any number of infinitely cooler cars. Just as a morsel for thought if you are comfortable entertaining a $1.5k payment.

Also read the :poop: out of Leasing 101.

:bat:

5

Thanks for the reply. The F.E.G. is the money they are making from me on the deal correct? Do the other numbers look somewhat normal?

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Thanks, will do.

7

You really need to read the basic articles here such as “how to calculate payments”

The only thing you’ve calculated is depreciation and that was wrong. Base payment = depreciation + rent charge so where is your rent charge? At .00271 it’s not going to be a trivial amount.

8

Id do the x5

9

I suggest leasing two X3M Comps. instead of this car.

It is an interesting car, but a 100,000 msrp Jeep lease with no material discount or incentives is just insane. Also, it’s still a Jeep and you get all of the shitty FCA parts and equipment. It’s not a car that is built like it retails for six figures. The calipers are cool tho.

2 Likes
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Will do. Thanks for the advice. I was hoping someone with knowledge can simply glance over the numbers and see if it adds up based on the figures the dealer is providing.

11

I’ll look in the X5. Thx

12

Considered. Thx

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https://www.bmwusa.com/build-your-own.html#/studio/e8yx0zb7/summary

1 Like
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People can suggest other cars, and that’s fine! But keep in mind that there’s not much out there that can match the sheer ridiculous nature of this thing if thats what you are after. Discount on these seems difficult but not impossible, I’ve definitely seen others listed with higher % discounts than this. Aside from that you’ll have to shop the leasing bank a bit, ask to compare this Ally quote with Chrysler Capital and US Bank to see which one is giving you the best combination of interest rate and residual. Im pretty confident that at the end of the day you’ll probably make out better financing this and selling it down the road though.

1 Like
15

Thanks, I appreciate it. I agree 100%

16

Oh but what about the FCA dealership experience, that’s gotta be worth something?! :rofl:

3 Likes
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Hey already got the full fca store experience. He has an 1800/month grand Cherokee lease quote in hand.

18

The last time I went to a Jeep dealership I waited almost an hour just to test drive the wrong trim of a Grand Cherokee that they told me they had in stock but didn’t.

Then after returning from my test drive and leaving the dealer, I found the secretary had crashed into my GTI. (Her car was pulled in forwards when I arrived and backed in when I left). The dealer told me their security cameras were broken.

If I wasn’t so glazed over from having a 1 month old baby I would have lit their lot on fire and said “oh so your cameras work now huh?”

POS car dealers wonder why people would rather order a Tesla online.

19

I wanna slap these people who do a $1500+ Jeep lease

1 Like
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That sucks, sorry you had a bad experience. Not all dealerships are bad, I’ve had good experiences in others. I’ve had the pleasure of owning 3 Tesla vehicles. I agree that the buying experience is very simple. However customer service not so much. Sometimes I wanted to physically speak with someone about certain issues that would arise and it was almost nonexistent. I found myself having to use the app and often times waiting days just for a response that didn’t always answer the question. Now, there isn’t an option of purchasing the lease at the end of its completion with Tesla. So, that’s a deal breaker for some.