About 3 weeks ago I leased a new 23’ GC L Altitude from a local reputable Jeep dealership. I’ll be the first to admit the lease isn’t necessarily favorable, but they gave me far more equity in my old car than i thought so i took advantage of it and the payments are affordable. In addition, per my own research and per the dealer…inventory is low for the new Grand Cherokees and has been at this dealership in particular.
Fast forward to today, i notice on the website they have a slew of all new Altitudes and Limiteds and they are ALL marked down. The exact one I leased is now marked down $1,500…and considering I’m on a 24 month lease that’s a huge chunk.
Do I have any way to fight this with the dealership to try and get a new deal reworked? Just find it a little odd how I’m told the October programs are minimal, inventory is low and in a matter of 3 weeks i would have a half dozen options that would likely be a far better option for me.
I can wear it if I’m stuck where I am, i get i signed on the dotted lines…… but i can’t help but feel completely misled and in a sense i got worked…figured I’d see what some of you pro’s had to say.
Bummer. Just wasn’t sure if there was any sort of time period after new contracts that allowed you to make any sort of move.
I don’t have a gripe about the deal that I signed. I know what I signed, I’m a financial guy and i understood all the terms. More so sour that i was told numerous times they had very low inventory with little knowledge of anything coming in. And not even 3 weeks later every vehicle is marked down 1.5k-2k. Lesson learned i guess
It can go both ways. Last year between March and April I had people back out of a deal or not buy coming back a few months later wondering where the discounts went.
Just enjoy the car. There will always be a better deal out there. All three of my employee leases were better the following month(s) compared to when I took delivery. My S5 had an extra $500 rebate the next month, BMW would have paid my first payment on my M4 if I waited 5 days, and Porsche bumped up the residual values a few months later. If it is any consolation, I am sure your trade in is worth less now than it was a month ago.
Nope, never. I’m not aware of any state with a cooling off period, but even if there is it isn’t three weeks. Chalk it up to experience and enjoy your car.
Once again, I’m not b*tching about the actual lease agreement. I know what I’m paying, I know the terms I agreed to. The sour taste is the fact I was told multiple times that day they werent expecting new inventory over the next few months, and that the October program only allowed $500 of bonus cash…only to find out that not even 3 weeks later (still in October), they have a half dozen new vehicles that are cheaper that I quite frankly would’ve chosen over mine and the same exact one I bought is marked down $1,500.
Thought I had a legit gripe, wasn’t sure if something could be done about it. Now I know.
I can’t imagine they couldn’t find out the answer to the question, but it’s certainly not something that many have an awareness of, nor are they particularly motivated to push off a sale today for a potential one tomorrow. Much easier to just say “inventory is sparse and don’t know when we’re getting more. You better take this one while you can!”
Thats pretty much the jist I got from him. I guess it’s the fact that I’ve worked with him before, and the GM of the dealership is a client of mine so I guess you can say theres some major “WTF” going on over here.
Regardless, I got the feedback I expected. Thanks guys…always a learning experience!
I hope that they’re worth more than $1,500 as a client because if you actually went and tried to unwind a contracted lease, I’d imagine it would strain that relationship, if it even was possible for you to do that.
You should see some of the “deals” that have came through here over the years from people that are friends/family with the GM. Most of the time, it seems you’re far better off being a complete stranger.
