2023 Jeep Grand Cherokee Altitude Lease 2-Row - Is it a Good DEAL?

Ask the Hackrs Buy/Finance
1

Hey guys was at the dealer today currently have a 2020 altitude (leased). Looked at the 2023 JGC 2-Row altitude today dealer is asking 51k after incentives and rebates got quoted 48.5k.Lease term would be 39 months 12k miles yearly at $550 per month. (Realistically Zero down). I will be trading in my old Jeep so they said it will be a key for key exchange zero out of pocket. Is this a good deal??? I think it is but would like to get some feedback. I’ve attached the window sticker Window Sticker

2020 Jeep grand Cherokee Altitude
Buy out: 27,500
Offer: **No idea what dealer is offering due to him telling me it would be a key for key exchange no money out of pocket.

2

The MMR on your Jeep is $34K, without adjusting for mileage or condition…
Sounds to me like it could be as much as $7000 down.
Having “no idea” about part of a $50K transaction is generally not advisable.

10 Likes
3

You need to get several offers on your trade so you can baseline the actual value here.

4

thats what i got from car max couple months ago (34k) but it has went to 30,000 since then when i checked couple days ago and carvana offered 25k lol

5

You need to compare multiple current offers with your current buy out.

6

Carvana: 25k
Carmax: 30k
Other dealer: 32k (highest offer yet)

Buy out 27.5k

1 Like
7

Ok, so youre talking $4-5k in equity then, making this a very lackluster deal.

8

lackluster deal.???

9

$700ish/mo for an altitude is high.

10

Originally I got the 2020 Jeep for $375 a month with a 2500 down payment

11

It’s $550
Where is $700 coming from? Just wondering new to all of this

12

Your $4-5K in equity spread over the lease term. So that’s what your equity is effectively buying the payment down to.

13

So any suggestions should I negotiate more or have I reached the bottom for what I’m offering them.

14

Tell them you want a check for $4K and youll take their $550 month lease on the new one. With only $550 due at signing.

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15

I’m new to this new leasing market everything has gotten so messed up don’t know what’s a good deal any more or when it will ever go back to pre Covid prices

16

Being new to leasing does not mean you should glance over the numbers. If something does not make sense, either educate yourself (lots of resources here) or ask questions.

If you take a look at the Marketplace where brokers advertise deals on a daily basis, you can compare your deal and determine whether it is good or not.

1 Like
17

What made you assume this vehicle was worthy of all this effort? Was there something in the RV and MF that made this a good candidate?

Most cars do not lease well. They do not have the programs (RV, MF and incentives) to be good candidates for lease-hacking, regardless of what dealer discount you can negotiate. This is truer now than it has ever been. Which means you cannot start your search with a particular car or cars in mind, and then find a way to make them lease well.

It will be like pushing a boulder uphill while pulling teeth, and you’ll still probably have a bad deal in the end. You need to start your search by filtering only the vehicles that are leasing well right now and offer good value per dollar.

Check out the “Share a Deal” and “Marketplace” sections of LH forums to decide what’s leasing or financing well and pick a vehicle that is already proven to offer good value.

Remember, there are no magic wands that can save a deal from poor programs (RV, MF, and incentives).