A dealer in North NJ reached out saying they were trying to make year-end numbers so we stopped in as the lease on our 2020 Grand Cherokee North ends in 3 months. The current buyout price of that vehicle is $23000, and the dealer said they would provide $2500 of equity credit to a new lease.
After looking at what they had on the lot, we started talking numbers about a 2024 GC Limited 4x4. Here is the lease worksheet that they provided as well as my attempt at converting it to the LH calculator below. The $1000 cash down is something arbitrary that they put for the time being.
Gut tells me its not the best deal but not the worst one either. I can’t seem to figure out how they got to $525 a month, plus they told me I would have have to do the first month plus $1000 at signing (this is the manager telling me this). I have no problem with holding out with the potential of buying out the current 2020 GC since its only at 28000 miles coming off a 42/12 lease.