Hello everyone,
I received a quote for a 2023 Jeep Compass Latitude for $2000 down and 425 monthly.
MF = .00125
Residual = 53%
$425 for 39/7.5K and $440 for 39/10K
MSRP = $34385
Selling Price = $33955
Price after discount = $30955
Sounds like a good deal considering it is more than 3000 discount. I am a first time buyer, I don’t qualify for any incentives. I am considering negotiating further to get it to 400/monthly for 10K miles since 7.5K miles is really low for me.
What you guys think?
That Money Factor and residual seem to match up with the 36 month term, not 39. Also, there does not seem to be a difference in residual between the 7,500 and 10,000 mile allowances on the calculator so there wouldn’t be any sense in taking 7,500 (if Chrysler Capital even offers it). Just because you are a first time buyer doesn’t mean that you don’t qualify for any incentives. Using a NY zip code (10028) it looks like there’s at least $2,500 in incentives available to everyone right now that are included in the “discount” they are showing you. I would imagine that you could get a much better dealer discount on a Compass, if that’s what you are looking for.
Do you know what the MF and residual is for the 39 month term lease? How much more of a discount do you think I can get? Is it realistic to think I can get the monthly payment to 400 or possibly less with 39/10 lease term?
Northern Westchester or Southern Westchester? How many dealers have you shopped? You know the vehicle you want and the program for it. Now you just have to start emailing other dealers and negotiating the deal that YOU want.
SFS = Stellantis Financial Services - A Division of Chrsyler
CCAP = Chysler Captial - A Division of Santander Bank that represents Chrysler (Going away sometime soon but also offers good rates)
I could get you a larger pre-incentive discount of $1,285 off + $2,500 in rebates but there is a higher dealer fee (if the dealer this quote is from is a NY dealer).
The compass literally has $350 from MSRP to invoice and then another $900-$1k in holdback, that’s it, that’s all the money. Combine that with a not so amazing lease program, and the car just doesn’t lease well. Believe it or not, you getting $430 off before rebates is actually below invoice on this car.
