Deal check - Jeep compass Altitude

Ask the Hackrs
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1

Can someone explain to me this lease deal and show me where I can improve the deal even more?
Better seen in the attachment

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WD Deal ID: 111557 Deal Desc: BT/COMPASS
Sale Vehicle: New 2020 JEEP COMPASS 4WD MPJM74 4dr Wgn Latitude w/AC , Automatic , Odom: 0
Payment Details
Term 36
Base Payment 318.87
Total Payment 318.87
Purchase Option 16,152.85
MSRP 31,035.00
Est. Miles Per Year 10,000
Disposition Fee 400.00
Excess Mileage Charge 0.15
Amount Due at Signing
1st Month Payment 318.87
Fees & Insurance 474.00
Upfront Taxes 1,715.46
Cap Reduction (Cash) 995.00
Total Inception Fees 3,503.33
Rebate as Cap Reduction 6,250.00
Total Drive Off 9,753.33
Total Cash Required on Delivery 3,503.33
Tax Information
Customer State: New York Customer County: NEW YORK CITY
Type Amount Rate Paid
Cashdown Tax 684.17 8.8750 Upfront
Tire Tax 12.50 N/A Upfront
Upfront Tax 1,018.79 8.8750 Upfront
Fee Information
Description Amount Paid
Doc Fee 75.00 Upfront
Inspection 10.00 Upfront
Electronic Filing 389.00 Upfront

2

Start by going to edmunds to get RV/MF/Incentive information and then figure out what mf the dealer is charging. Then work out what a good pre-incentive discount is by researching other deals. Then plug in that information to see how far off this is.

You can’t do anything without knowing mf and the selling price.

4

AWD: .00008 MF and 47% residual

$3250 incentive

Market Average-$27,875

this is what i got before when i asked on Edmunds and found on true car

5

Need to find out what the dealer is charging and what bank they’re using. Big delta in incentives suggests that they’re using a 3rd party bank and applying IDL cash to get to that $6250 number.

The fact that their sheet hides the sales price makes me suspect it isn’t a good deal.

6

You can find a much better deal then this just using Rodo;

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The type of numbers you are quoting above could get you a Grand Cherokee.

7

so what they’re quoting me is the 9,753.33 plus the $318 monthly for 36 months ?

8

No, they’re quoting you $318/mo with $3503.33 due at sale

The rest of the $9753.33 is $6250 in rebates, probably made up of IDL cash and some other incentive(s).

9

i was skeptical about using the RODO app since you need to run a soft credit check but it looks like ill give it a try. Thank you for your input.

10

Before you use any app or talk to any other dealers, you should really run a baseline calculation based on the current lease programs and incentives and pre-incentive discount estimates based on research of other deals/broker offers to determine what this should cost.

What good is an offer if you have nothing to measure it against?

11

got it makes sense now, I just emailed them to find out the sales price hopefully that will clear thing up for me. if you dont mind ill post it here and when you get a chance to look over it that would be wonderful.

You’re right, I did some research but from the look of it i need to do a little bit more digging. appreciate your help

12

With 0 down your payment is roughly $416 a month for a compass, that’s Grand Cherokee money. You could get a MUCH nicer vehicle for that payment. That RODO one posted above is waaaaay better deal that this dealer offered you.

For some reason or other I don’t think compasses lease All too well.

13

I used Rodo to get my Jeep Gladiator in March. They connected me to Rothrock Jeep in Allentown, PA. Everything went smoothly and the deal closed 100% as advertised. YMMV.