Never leased before. Dealer quoted $765 montly for a minimum drive off, 10K miles, 39 months.
Mf is 0.00329 (comes out to 7.9% interest rate) and RV is $32344. MSRP is $52170.
Is this a reasonable price? How do I determine a reference to go from and what’s the best way to negotiate to bring the price down?
I used the Rate Findr calculator as well as looked at what lease pricing others posted around the same MSRP price point. It sounds like the lease pricing I’m offered is inflated but don’t know how to go about requesting the dealer to provide a better price.
Yes, I checked the Marketplace here and see much lower (~500-600 range) lease pricing for similar leases and MSRP. But then I also don’t see any Grand Cherokee L being offered there.
My main reasons for going for the GCL are 6-seater (with captain seats), tow capacity, 4x4, off-roading capability, and a tow package (includes receiver hitch).
Would I (or most of this forum) pay $765/mo with an unknown amount DAS for a jeep grand cherokee? No.
Copy the structure of the deals posted in marketplace (sale price, rebates you qualify for) and make offers to dealers. Don’t ask them what they want you to pay. Unfortunately, this first dealer is already burned. Highly unlikely they move from 765 to 5xx or even 6xx. Move on to the next dealer
It’s a unibody and not a true off-roader. Are you really going to take it anywhere where a Pilot or similar unibody can’t go?
First things first, this is not a hackable segment. So it’s not like the Audi Etron GT RS or Mercedes AMG EQ where someone is paying some absurdly low monthly lease payment on an absurdly high MSRP car which would never make sense to buy.
Here it’s the opposite. There’s a huge demand for this segment in the used car market so high value retention works in your favor (however, the banks’ RV and MF dont always work in your favor).
So you really need to make sure that a lease (followed by another lease) isn’t prohibitively expensive compared to buying this or a similar product, holding for say 4-5 years and then trading or selling. Compare net spend to net spend, not monthly payments to monthly payments.
Great inputs and advice here. I’ve started to rethink my goal here and what I really want. I know I want to go with the GCL. My long-term plan was to switch this out after the lease period to an EV like Rivian which I liked but currently out of my budget. Leasing would eliminate the headache of selling the GCL.
But now, I’m thinking I might keep the GCL and instead replace my decade old car I currently own for an EV/Rivian that I take on lease when I’m ready, maybe in 3-4 years. Perhaps finance the GCL now at 8-8.5%, refinance later (with cuts expected later this year) or simply do a cash purchase.
Looking at the Marketplace I’m surprised by how much lower the lease pricing is for luxury and EV segments compared to GCL.
Wait for a few months if you can. Democrat President pushing green policies has made gas vehicles where Manufactures are making up for electrics losses. If we get a Repub in office gas will drop, interest rates will as well and gas vehicles will be back to pre pandemic leases. Plus Stellantis is about to find out 15% MSRP markups YOY, doesn’t work when people can’t afford basic needs.
I can if the lease price is significantly lower and the GCL config I’m looking for is available.
Lease preference: 10k miles, 36 months, minimum drive off
GCL config: Altitude X 4x4, silver or gray metallic exterior, 6-seater (not 7), tow trailer package (not the prep)
MSRP for above comes out to $52170 including destination fees.
If there’s a higher trim available which is 4x4 and with silver or gray metallic exterior, 6-seater (not 7), tow trailer package (not the prep), I”ll consider too provided the lease pricing is considerably lower.
Do you have a lease offer in the 5xx or lower range something that competes against what luxury or ev segments offer?
