2025 Jeep Grand Cherokee L Limited Lease Deal Check (Grand Rapids, MI)
Shopping around for best deal on JGC L Limited or potential Latitude Lease in West Michigan. Wife is set on red which doesn’t leave a lot of options within a 150 mile range and it’s always more convenient to not have to drive 2 hours, but not out of the question.
Received MF and RV from Edmunds site and went to first dealer with some numbers in mind.
Edmunds site had the same MF and incentive but they had 61% instead of the 58% given
They bring the first quote out and it had IDL incentive of $1750 + Midwest $250 incentive on it with my trade in equity at $1000. The MF was around .00348 though. I told them the MF was way too high. They came back with the picture attached and forgot to take off the LoJack option so disregard that part.
The trade in is a 2016 Chevy Tahoe LTZ which I was using as a little collateral in case I needed it since what I owe on it is about what it’s worth, so I don’t have an issue with trading it in since that is an easy chip to negotiate with sometimes. Would normally never put money down on a lease though.
After that they come back with this attached image with MF at .00248 direct from stelantis financing (I think the original must have been Chrysler financial maybe), but without the $1750 IDL incentive since I’m told Stelantis didn’t offer that, but they bumped my trade in up $2000 to a total of $3000.
I’m getting about $672 from leasehackr calculator. They still seem high but those monthly numbers are based on the last 90 days of customers and they haven’t run my credit yet, which is excellent anyways. He said excellent credit would take about $35 off the zero money down. For some reason he is counting the $3000 down from the equity in the trade in as money down so he still has me in the 0 down column with a potential payment of $751-762. Way too high. I told him if he got the seller price down to $46K we would have a deal. However, even without that, they look to be high. How do you get the residual value to what Leasehackr and Edmunds is telling you it should be when a dealer gives you a lower RV?
Thanks for the help. First time using Leasehackr site and it’s pretty great.
I’d separate out the trade, since it seems to be confusing as to whether or not they are counting it as a cap cost reduction. Either way, this is an insanely expensive lease. The discount is very low.
Does it have to be an ICE Grand Cherokee? Do you need the third row? If not, the Grand Cherokee 4xe would lease for half of this or less even at a much higher MSRP.
Alternatively, look at some of the other deals for ICE models like this and create a target offer.
IIRC the Limited was almost $200 per month higher at the time this was signed due to less incentives. My deal also included $5k worth of loyalty which doesn’t appear OP has.
OP run the numbers/incentives on different trims to see where the sweet spot is and determine if certain features are worth it with the higher trims.
Before you invest a lot of time and energy going down that road, you have to ask yourself the first fundamental question of lease hacking: Have you seen any examples in Signed Deals & Tips which suggest the vehicle in question is hackable in your situation?
Yes, we want the L so that is not negotiable. Definitely don’t have those types of incentives attached to your deal you got for your sister. If the RV I see on Lease hackr is supposed to be a certain amount, is that something that a dealer normally decreases to make the cost more or is that number normally not negotiable in your experience?
I am seeing $10K discounts on purchases of the JGC L. That may not apply to leases, so you should compare the cost of leasing vs financing. You are looking at a really steep payment for an L.
The residual is set by the lender, and isn’t negotiable. The money factor is also set by the lender, but can be marked up for profit by the dealer, so watch out for that.
