Deal Check / Looking for Advice 2021 Jeep GC Lease

Rachael_0524 · October 21, 2020, 2:26pm

Update:

2020 Jeep GC Altitude 36 month lease, 15k miles per year:
MSRP =44,570
reabtes and incentives (included military discount)= $6,000
Total=$38570 sale price
Sales tax=$1,183
Licensing and fees close to $726 (we cannot get exact license cost until purchase but is very close)
Total with everything is $41,010.53
With a $2,500 down payment you would be very close to $450 a month. We would just have to dial in the Registration and title fees but these numbers would be very close.

I noticed the website has the price listed as $38,570 as well, so I asked her if that was an error since I qualify for an additional $500 off military rebate, and she said that online pricing is different from lease pricing…seems wrong to me, so I plan to push back on that.

Also I just asked for the residual value they have on this car so that I can calculate it myself.
So, $2500 DAS and around $450 per month. 36 months, 15k miles per year.

What do you think? I feel like it could be lower but I am not sure what to ask for.

// original post w/ offer from first dealer:

2021 Jeep Grand Cherokee Laredo X w/ Sun Roof and Premium Lighting Group
Dealer: Brookdale Chrysler / Jeep Minnesota
MSRP: $45,080

Best lease offer dealer can give me with current available rebates is:
$549/month
$3,000 DAS
36 months
12k miles per year (36k miles total)

This seems pretty high considering residual value is listed as $26,146 and rebates bring vehicle to cost $44,540. See attached…is it unrealistic to be looking for something between $420-$480 a month on this??!

Advice? what should this payment look like? I also qualify for $500 military credit

trism · October 21, 2020, 2:52pm

If it was my money, I’d rather have 299 McChicken® sandwiches than a flickering brake light.

max_g · October 21, 2020, 3:07pm

Look at Shared Deals and Marketplace sections for better values on better vehicles

splee3 · October 21, 2020, 6:06pm

Hi - that’s not a great deal. You should be targeting 10% off of the MSRP, so they can do a lot better on the discount line. You should also try to get the full lease workup so you can see if they’re marking other things up.

We leased a GC Limited back in 2018 and ultimately got it down to $418/month with $0 due at signing and they paid our first month (the updated calculator shows $422 though). I believe Jeep’s incentives have gotten slightly worse since then, but still gives you a sense for where you could get the payment down to. Also - we’ve never had great luck with any of the Brookdale dealerships, so we went with Apple Jeep in Shakopee - it looks like they have some Laredos that will already beat this deal.

Also - you can always ask them to take Pulse off and they probably will. I think they put it on the lease sheet so people feel like they negotiated something and got $300 off, instead of focusing on the discount where you can get a few thousand off.

Ldimitri1 · October 22, 2020, 2:32pm

I don’t have the specifics in front of me but we have been quoted 430 per month on a Laredo x with sun and sand/premium lighting/altitude packages. 44,855 msrp. We are trading in a 17 highlander lease that actually has about 2300 in equity.
1st month down and I’m hesitant to sign because I feel like we could do better. Also 26k residual through Chrysler capital.

Rachael_0524 · October 22, 2020, 2:53pm

Hi, thanks for the info. That is really helpful. Working with my third dealer, the lowest they “can do” is $510 a month with $3,000 now. I am making progress, but ideally my downpayment and monthly payment would be lower (I am flexible with downpayment, but I want something under $450 I think).

Are you saying you are trading in a lease for a $3,000 credit on the lease? Would that act as your down payment?

Ldimitri1 · October 22, 2020, 3:06pm

Yes our 17 highlander platinum has a buyout of 27,732. That number includes one last payment we owe on November 5. The dealership offered us 30,000 for the highlander so essentially that is our equity/down payment. I can add that this deal started at 479 per month and I said no we need to be at 450. Ten minutes later we had the 450. After getting home and sitting down without the stress I realized that 450 still seemed high with that 2300 in equity so I told the salesman the next morning we needed 430 and we were there pretty easily.

Another dealer local had me at 430 as well with 29500 for the trade but at 39 months 12k yearly.

Ldimitri1 · October 22, 2020, 3:09pm

Remember that 3000 down over 36 months is 83 a month. Add that 83 to your 510 and you are really paying 593 per month. Way to much money.

Rachael_0524 · October 22, 2020, 3:13pm

What region are you in? All the dealers in MN are telling me that the rebates aren’t good enough to get me that low, and I am doing all of this over email / text with them. Once I tell them I am not interested unless its between $420-$480 with 3k down, they just say “maybe the rebates will be lower next month”. I let them know to keep me in mind, since I’m not in a rush to get a new car right now and I can wait until the numbers are where I want them to be. Doesn’t seem like I am budging them much and it seems that they think my numbers are way out of line … advice?

Ldimitri1 · October 22, 2020, 3:16pm

I’m in Massachusetts. If you go on the edmunds site you can put in your zip and choose the jeep from the menu and they will show you the available incentives. They incentives aren’t great on the 2021’s right now but if you went to a 2020 altitude they might be better. I’m not sure if there is much of a difference between the two vehicles.

Rachael_0524 · October 22, 2020, 3:18pm

thanks!! are you pursuing a 2021? Does your dealer have extra incentives right now?

Ldimitri1 · October 22, 2020, 3:31pm

I think so. My wife likes it and it’s ultimately her car. We have gotten a decent quote on a 2020 limited at 427 per month before our trade in was valued. Also a 2020 overland at 520 per trade equity. We just don’t want a 450 plus payment right now seeing we are just getting back to normal from not working for so long due to the shutdowns. She likes the interior in the Laredo X better and the altitude package of course.

Ldimitri1 · October 23, 2020, 11:40am

Just an update for you. We signed last night and took delivery of the vehicle. Payment ended up at $412 per month with first payment down. 36/12 with a $26,014.90 residual.
We got $4220 in rebates/incentives
$2267 in equity from our Toyota lease trade

Rachael_0524 · October 23, 2020, 2:18pm

Did you end up going with the 2021 Laredo X? What was the MSRP?

Ldimitri1 · October 23, 2020, 3:06pm

Yes. 2021 Laredo x
Msrp 44,855
Got it at 42950
The claimed invoice was 43700 and showed it to me but that seemed like such a small gap I’m not sure if they were lying.
4220 in rebate. Two of the rebates were for the northeast region. Plus military and Chrysler capital

Ldimitri1 · October 23, 2020, 3:07pm

Rachael_0524 · October 23, 2020, 3:13pm

Would you mind giving me the sales person contact you worked with? I might reach out and see if they ship. I’d love to get a similar deal but it doesn’t seem like the Minnesota Jeep dealers are going to budge. I’m returning from a deployment in a few weeks and I’d like to have a car ready when I get home, if possible. Thanks in advance!

Ldimitri1 · October 23, 2020, 4:14pm

forbs · October 23, 2020, 5:30pm

Invoice is invoice, if they didn’t meet their ‘quota’ then that’s what the dealer paid for the car.

Most ‘high volume’ dealers easily make quota and get a secondary kickback from the manufacturer which well makes up for any ‘loss’ they had on your sale.

So they didn’t lose out, but a small dealership would have , and that same smaller dealership will never sell under invoice for the same reason.

Nice car btw, get them windows tinted so it really makes the white on black look better. (if it isn’t, night pictures are too deceptive)

Ldimitri1 · October 23, 2020, 5:50pm

Thanks
I really didn’t know how low I should have expected invoice to be and when it was only about 1000 less than msrp it had me thinking that maybe they were just pulling a fast one on me. Windows are getting done, payment is lower than the highlander and the wife is happy with the Jeep so it’s all good.