So I started my process of trying to get a new lease. This community has helped me so much with understanding how leases work and how to get to where I want to be. I’ve just about decided I want a Jeep Compass/Cherokee. This website helped me understand that the Trailhawks lease best? but after talking to multiple dealers, they’ve all said it leases the worst. The current compass I’m trying to lease is a Latitude on paper but the dealer keeps calling it an altitude. I’ve included a picture of the breakdown they gave me.
I had a hard time understanding what that paper was saying so I texted the dealer and got this response in return.
MSRP $28,010.00
Sale Price $23,260.00
MF 0.0066
Residual 45%
Down $2,000.00
Miles 12k
Monthly $280.00
The paper Shows $4,000.00 rebate but when I asked Edmunds they said $4,750 incentives, do I not qualify for one? or are those not the same thing?
I tired plugging these numbers into the calculator but I think I goofed something up
Any and all help is greatly appreciated. Thank you
I was looking at a compass a while ago. Some Jeep dealers are not very forthcoming with the breakdown. I suggest updating the title of your post asking for help with a lease sheet. Does the 280/mo include tax? Ask the dealer for the selling price before rebates and see what they say. If your 280 does not include tax I think your looking at a 2% discount off MSRP. If it does, maybe 6%.
If the sell price of 23,260 includes the rebate you can do much better if you have the time to look. Hopefully someone else can weigh in, I’m not as experienced as most.
Did some searching…Basically 280 per month with 2k down is terrible. Search the site for jeep compass. you will even find a couple brokers that will easily beat this deal.
I was able to drop a different dealer to about $250.00 including tax so far. I saw a dealer here has one listed. ill go ahead and reach out to them and see what we can do. Thank you for the advice and the help!
Can I put MSD on jeep? is there any way to calculate that?
@Sogalishis Give me a call or shoot me text when you have a moment. My cell is 818/900/3621. I have no idea why they are giving you such a high payment on this.
I went in to the lab and asked for some help and kept reading and researching. And I was able to come up with this. What do you think? Room for improvement? Or completely scratch this off and go back in to the lab?
2019 Jeep Compass Trailhawk
MSRP: $34,475
Sale Price: $30,000 (13% off MSRP)
Incentives/Rebates: $4,250
MF: 0.00008
Residual: 45%
DAS: $2,000
Monthly $296.82 Including Tax
Term: 36 Months / 15K Miles
I tried to fill the calculator, but I’m not so sure I got it right, but it should be in the right direction
I asked the dealer to send me a lease sheet as I have a 2 hour + drive each way and I had to get a driver. Some of the numbers there confused me a bit.
$291.89 monthly? Is that including tax? He claims it does include tax.
And the $2,500 Upfront? The dealer texted me and said this:
“That should be your down payment and he might be Implementing an extra discount that couldn’t go into the rebate section”
With a follow up of:
“There is some discounts that are not rebates so he put it in the down payment but you pay the same”
So in other words he’s making my down payment look higher in order to reduce my monthly payment?
And the CCAP Auto Lease LTD is the lender? Is this Chrysler?
I don’t think so. I asked the dealer. I looked online there there they offer $9,500 in IDL rebates so it might be worth it. This would stack with other rebates that aren’t exclusive to CCAP
The dealer told me they are signed up for Ally for financing but not for leasing. So I asked about US Bank and he told me go though them.
I called US bank auto lease to get more information. They basically told me that new leases originate in the dealerships and that Id have to go through the dealership.
