I am trying to Lease a Jeep Grand Cherokee that just came in (I ordered it a few months ago). The MSRP is 52,285. I am getting a “tread lightly” affiliate discount and dealer discount totaling $5,010.64. As such, the purchase price is supposed to be $47,274.36 minus any applicable rebates. The rebate I am told I am entitled to currently is $3,000. I placed a $1,000 deposit for the order, which will be used as a down payment (cap cost reduction). All fees, etc… are rolled into the lease payment including the first month payment. I also have $493 equity in the trade (cap cost reduction).
The dealer is coming up with $609.40 plus 7 % sales tax = 652.06 with nothing due at signing. No matter how I compute it on the leasehackr calculator, the payment looks too high, but I could be wrong. I get in the low 600’s.
I had the salesperson send me all of the numbers of how the payment was computed. I can’t make heads or tails of it as there is so many numbers all over the place. I have attached it as the first document below. I have also attached the worksheet I was sent with the basic numbers that is a summary of everything.
I want to make sure I am getting the discount of $5010.64 that I was told I would get off the car and the $3000 rebate that I am entitled to? I am not sure where the 1000 down payment I made is reflected. Its possible the rebate of $4039.00 that is showing in the calculation below includes the $1,000 since the rebate is only supposed to be $3,000 (and, if so, I am not sure what the extra 39.45 showing for the rebate is).
I added the leasehackr calculator link below as well. Please note that the $1,929.00 dollars showing due at signing on the Leasehackr calculator is rolled into the lease on the dealer’s calculations and NOT due at signing. Perhaps that is why the dealer shows the agreed value at over 49,853.71 as they are adding the $1929+++ to the price of the car so there is nothing due at signing???
I have added the link to the calculator. It would appear when you add the amount due at signing on the calculator to the agreed upon value of the vehicle, the payment appears to come more inline with dealers quoted $652 a month.
I guess the question is a payment of $652.00 as quoted by the dealer correct with the following numbers:
24 Month Lease
.00114 MF
64% Residual ($33,462.40)
MSRP 52,285
Discount $5,010.16
Rebate $3,000
Down Payment already made of $1,000
Trade Equity: $493.00
Doc fee: $998
Delivery Fee: $200
Electronic Title: $366.50
License Fee: $65.85
Tax on Incentives: $378.14
Aquisition Fee: $595
7% sales tax on payment
Base payment $609.40
Sales Tax: $42.66 TOTAL Monthly: 652.06With $0 do at signing
Just want to make sure I am getting the discount and rebates I am entitled to.
Yes Yes Yes. I see how you are doing this. Of the $5,010.64 discount the dealer said I was getting, $1039.45 is a taxed incentive. So the agreed upon value of the car before Rebates and Taxed Incentives is $48,313.81. Then you subtract the Taxed Incentive of $1039.45, which comes to $47,274.36 (which is the $5,010.64 discount off MSRP dealer told me I was getting), and then add the $1,039.45 to the rebate of $3,000 rebate for a total of $4,039.45 in rebates and taxed incentives. As such, the 5010.36 discount and 3000 rebate are all accounted for. When I plug this into the calculator, it comes to payment of 652.00. with $1,000 due at signing, which is covered by the $1,000 I already gave them. As such, Zero due at signing.
