Jeep Offer Too Good To Be True?

Ask the Hackrs
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1

Hi there. Been lurking for a while, but I have a question I’m hoping you can help with.

The Jeep site for my zip code in North Jersey, has a 24/10 Grand Cherokee lease. $209 monthly, $4,829 DAS. “Based on MSRP example of $37,390.00 with 2BE package after all applicable offers. Total due at lease signing includes a down payment and first month’s payment.” RV looks to be low 50s, and I’m still learning to compute MF.

What am I missing here? This seems way lower than what I can find anywhere else. Same on the Wrangler Unltd Sport 4x4, 36/10, $199/month, $34,955 MSRP, $4,209 DAS.

Sorry to ask to be educated, but what am I missing here?

2

Before someone jumps down your throat start here https://forum.leasehackr.com/c/faq/10

Edit :sweat_smile: just read your post all the way through but check Edmunds forum for the MF for your area

3

There is no reason to guess the RV or compute the MF. Just ask them for a detailed lease sheet.

They might come back with “that car was a one-off an it’s sold, we have a higher Msrp car with $50 more a month.”

4

I’d be leery of this line - they’re likely including incentives in the pricing that you may not qualify for.

This doesn’t strike me as a terribly good deal, either. Your effective monthly on the 24/10 is more like $410/month.

5

Stacking incentives you don’t qualify for and may have fine print about not including certain taxes/fees

6

Best programs for jeep currently i am seeing are in 39 month range. Usually Jeeps do not lease well in 24 months range. And that residual makes it seem its a 36 month lease maybe.

7

That’s really helpful, thanks everyone. I’m including the full disclosure here for reference, but I’m sure you’re right about incentives I may not qualify for.

“Low-mileage lease for well qualified returning FCA US LLC lessees. Based on MSRP example of $37,390.00 with 2BE package after all applicable offers. Total due at lease signing includes a down payment and first month’s payment. Offer requires dealer contribution. Tax, title & license extra. Lessee is solely responsible for early termination payments, fees, costs, penalties, excess wear and tear and mileage of $0.25/mile for each mile over 10,000 miles per year, if vehicle is returned at end of term. Option to buy at lease end at pre-negotiated price. Dealer’s actual terms may vary. Current lease must end by 6/30/2021. Offer through Chrysler Capital. Residency restrictions apply. Must take retail delivery by 06/30/2020. $395 disposition fee due at lease end.”

8

So basically the ad is saying:

$4,829 due at signing but that excludes tax, title and license fees which is gonna be another $2,000-$3,000 on top of that. Also need to qualify for returning lessee rebate.

It’s realistically probably about $7,000-$8,000 due at signing with all applicable rebates on a base model, low mileage lease.

That’s how pretty much almost all car dealerships advertise. If Grand Cherokees were $209 a month with just drive offs everybody and their mother would have one ( even though they aren’t and it kinda seems like everybody already does lol :rofl:)

9

Well, while Jeep at least has some cachet, it IS still an FCA product :smiley:

10

:sweat_smile:

I know what you mean, for me personally I genuinely like a lot of the FCA products regardless of the horror stories I’ve heard on the reliability and service side of things. IMO, the new Ram is one of the nicest new pickup trucks on the market right now. I also think Grand Cherokee has been a vehicle that provides incredible value for someone looking for a larger SUV.

11

To be fair regarding my snark, my brother-in-law has had a JGC for 7 or 8 years now, and it’s been relatively trouble-free. The dealership and sales experience left a lot to be desired though.

12

As someone who has had 3x WK2, one that went back under lemon law, I still absolutely love them. I think the 3.6 is just okay in that car but mine with the 5.7 was a great car. Theres a ton of features for the money, they lease well, they are cheap to maintain, can drive anywhere in any weather, and are just a super good looking car.

It is time for a new one though.

13

Nowadays most cars will easily last 3-4 years without any major problems.

I mean, let’s be honest, that Honda electronics issue has had some people without their Pilot/Odyssey for a month at a time - sometimes without a fix.

I say, just lease what you want - it’s under warranty.

Financing is a whole another ballgame. I don’t care how good the Pacifica is, I don’t want that thing out of warranty.

14

As a general rule, advertised lease deals are terrible.

15

So first off, do you qualify for the returning lease rebate that’s mentioned in the first line?

If you don’t know what incentives you qualify for, you need to head over to the GC specific Edmunds sub forum to find out what incentives are available in your zip code. While you’re there, find out residual and MF as well.

As others have said, tax, title, license could be between $2-3k (don’t know tax rules off the top of my head for NJ). So now you’re talking ~$535/month effective on the 24/10.

Have you searched the forum for broker deals in your area to see what’s realistic?

16

I have! That was exactly what lead me to suspect the deal was too good to be true in the first place

17

Endless money pit don’t get a Jeep lol. Nah I’m just talking sh*t and learned my lesson to never lease a FCA product ever again. Don’t ever go by ads who in their right mind will put 4K plus down on a Jeep lease :flushed: