I think you should do more research and learn about leases. It can literally save you thousands on either car.
Find a car broker on the forum or on yelp. You’ll save thousands.
In case it wasn’t already clear: not a good deal. Call it off.
Hi newbie here, in northern NJ. I’m looking at leasing a Jeep Grand Cherokee High Altitude with high performance audio (19 speakers). For 10k miles, 35 months, I was offered 4k down and $570 per month. I was able to negotiate and get it further down to $504 per month. Is that a good deal?
You just went from negative $6000 back to zero and immediately want to throw it into a more expensive car. Come on man.
No. If you were putting $0 down, and rolling all taxes and fees into the monthly payment, then $504 would be an ok deal. People here can provide a lot better advice if you provide more details on the lease (MSRP, Selling Price, Incentives, MF, etc). You’re better off negotiating on those items, not on the monthly payment.
To try and be more helpful - the link below has a posting showing a MF of 0.00017, 51% residual, and $4,500 in incentives on a high altitude at 36mo / 10k miles.
Sure, see details below, let me know what you think:
MSRP: $54,180
Incentives: $5,000
Selling Price (after Incentives): $49,180
MF: 0.00017
Residual: Unknown, I’ve asked the dealer.
10k miles, 36 months, 4k down, $504 per month
Get them to send you the lease proposal via text or email. It should give you the actual discount, rebates, doc fee, gov fee and other information. Give that information here or put all the data into the calculator and post the link. Most here will tell you that $4000 depending on required due at signing.
Most here would say what with $4k required DAS?
Are u dead set on the Altitude trim? The limited trim will probably have the highest RV and rebates it is the sweet spot on Grand Cherokees.
Yes, I’m dead set on the high altitude trim. Thank you in advance for your help/opinions!
this is exactly what I got back from the dealer, what do you think?
sell 51151 less 5000 rebate net sell 46151 ,27631 residual, 0.00017 money factor
Which terms should I be negotiating?
Why did you highjack this thread? Also, that is not a good deal at all.
Sorry about that, I was struggling with the replies/post on the thread. What makes this a bad deal?
With that down payment, your effective cost is $615 a month for a Jeep.
Based on those numbers The payment is high… also, you don’t want to put that money down on a lease. They are holding money on you. I would reach out to different dealerships out here in North Jersey. I was literally looking for the same SUV and same MSRP almost. I do agree with @NATO that $615 is way too high for a Jeep. You should negotiate with nothing out of pocket.
Also, get more info from the deal like:
Taxes
Fees
Etc…
I was 1k negative at $579 And that was a bad deal I was getting. I’m sure they can do better and call other dealerships or reach out to dealers in NY. Try to work everything through email or over the phone and don’t waste your time going in to dealers.