I’m in the market for leased Jeep GC Limited. So I’ve been on the forum a bit and I’ve seen a lot of negative reviews on here when it comes to Chrysler capital. Which made me wonder is Chrysler capital really worth the headache for the possible incentives? Any alternate financing strategies?
You’ll have to see what incentives the captive will offer you. Otherwise it’s Ally or US Bank, but not all dealers work with them or offer it.
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I have leased through my local credit union because it was cheaper. Captive is a company called “Fusion Auto” and they partner with credit unions for the loan. Dealer handles the paperwork just like any other program. I was concerned with the lease end a bit but the customer service sounded nice and they have similar regular wear and tear policy. You return the vehicle to any Manheim location so that maybe a bit of an inconvenience.
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What kind of negative reviews are you referring to? I’m not aware of CCAP being any better or worse than any of the other captive banks to deal with.
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Poor communication and not being forthcoming but you’re right that could be said about any financial institution
Most of the non-captives are going to have reviews worse than CCAP. It’s very simple in most cases, return your car mostly undamaged based on what you agreed to in your contract and you’ll be fine.
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You’ll have to excuse my ignorance cause I’m new to leasing. But what do you mean by cheaper?
Cause I am under the assumption that you negotiate a price the residual value is fix based on the make and model so all you need is some financial institute to cover the negotiated terms. So from my understanding the money saved comes from negotiation not the bank. Am I wrong?
Please provide clarity. Thanks
Leasing involves more factors that ‘sales price’
there is Residual which changes from Bank to Bank
There are incentives which change from using the Captive bank to a ‘3rd party bank’
There is the money factor which also can be changed by the Dealer.
So a single ‘negotiated’ price means nothing on a lease. It barely means something on a purchase.
Ex : Toyota was leasing Tacomas for $X. US Bank was Leasing the Tacomas for $Y. But since the purchase (Because 3rd party are purchases) incentives + $Y was less than lease incentives + $X, leasing from US Bank was better. (For a while before US Bank realized something was up)
If you thought that was bad, wait til you see the safety tests of the GC.
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Elaborate please…
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Also, most captive terms can be found easily online. In my case, dealer simply told me CU is cheaper than the Chrysler Capital so I went with it.
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I’m really thinking I overcomplicating the financial aspect of leasing. Is anyone good at breaking this down/ any good reference videos on Youtube?
If you’re worried about winding up with a bad bank, don’t, except US Bank.
Different banks set different residual values
Check out the articles on the main LH page and read them including the 101 section:
For my .02 I really do not think CC will give you a headache however negotiating with a CDJR dealership will and I would expect some curveball in the finance office or right at the end when you think your done and some " mandatory protection package" gets added on. Also go to the “Share a Deal” and "Marketplace section in the forum and do a search on Grand Cherokee…we’ve seen the occasional good deal on one and we’ve seen a few head scratchers as well.
If you do not want to spend tens of hours to learn/search/shop and receive the best deal possible ( which may or may not be possible), you may want to hire one of the brokers advertising here.
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