SIGNED...2022 Jeep Grand Cherokee Summit Reserve 4X4


Just got a deal for my dad on a car that seems to be in really high demand with very little inventory. We have been looking around for months and were trying to get a 2022 before the 2023’s hit the lots with more expensive leases. All of the brokers I connected with from leasehackr either couldn’t get the vehicle or if they had the vehicle, they were unable to get close to the deal I got at this dealership. They even suggested that I take this deal. I know it may not be the most amazing deal by any means, but I think I did a pretty good job given this market. I did all of my homework and PLENTY of research and after weeks of trying to see which dealership would take my deal, I got one that came VERY close. I didn’t think waiting another couple of months would do much in terms of the rates, so I decided to do it. The deal is as follows:

Vehicle: 2022 Jeep Grand Cherokee Summit Reserve (V6 and not the L version)

Exterior Color: Diamond Black Crystal Pearl-Coat Exterior Paint
Interior Color: Tupelo/Black Interior Colors

MSRP: $69,080
Selling Price: $67,044
Residual: $37,994
Rebates and non-cash credits: $2,000
Money Factor: 0.00145
Total Cash Due At Signing: $6,514
Term: 42 Months
Mileage: 15,000 miles per year
Monthly Payment: $739

We got a big equity check from our old lease that didn’t expire for another 5 months and only put a portion of that money down at signing. Anyways, I absolutely LOVE the vehicle. It’s a beast! Let me know your thoughts.

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Enjoy the car!


Almost $900 effective payment. Enjoy the car. It’s a nice car but $900 per month is steep.

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That’s a lot of cash DAS. Should have structured it with much less down, even if the cash was rolled positive equity from the trade.

Monthly payment would have been in the $800’s or more with less DAS. It’s better to put a bit more up front as it’s more cost effective than rolling it into monthly payment.

What’s the breakdown for the DAS, such as down payment, fees (acquisition, doc fee, title and license), etc? Did you also pay the taxes upfront?

$6500 is a lot of money to put down on a lease. Most of us around here will advocate for as little as possible DAS because in the event of an accident where the cars totaled, you’re out all that DAS money.

Absolutely not everyone.

I’d put money down on this (effective APR is 3.48% while liquid savings is earning ~2% – and then taxed as ordinary income).

Over your lifetime, on average how many cars have you totaled per three years of driving?

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How so is it more effective ?

I can get you that breakdown. The taxes were included in the monthly payment.

I’ll edit my post to say most of us.

I’ve never totaled a vehicle but I know many that have. Especially now with parts availability issues, cars get totaled much easier, but that’s not what we’re debating.

His father is also driving 15k miles a year which is well above average.

I know a couple of people who have totaled a vehicle, but the overwhelming majority of people never will… much less in any discreet three-year period. (Imagine how much car insurance would cost if this wasn’t true!)

But we each look at risk/reward through our own prism. I offer my counterpoint because blanket statements on this topic distract people from actually doing a risk/reward analysis.

Happy driving, and be safe! :slight_smile:


The deal is actually now $729/month and NOT $739/month. For 15,000 miles per year on a $70,000 car, I don’t think I will be able to do better.

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And the payment is actually ~$884.10/month on a “$70,000 car”. The monthly payment is regardless in relation to the MSRP, in most cases. This is particularly true if we’re looking at the monthly payment (with money down) versus the effective (actual) monthly.

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Can you also share the pre-tax monthly? Just curious.

FWIW, discount was about 2.9% off MSRP.

You are quoting rules from a market that doesnt exist.

People use to parrot the minimum due at signing phrase back when you werent getting 4,5,6,7, maybe 10k in lease equity.

You cant get tons of equity (new market trend) and try to pair it with the rules from the old market (minimum down)

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Tons of equity might be a recent market trend (due to a confluence of black swan events), but as the economy slows and supply chains equalize it is likely to normalize back to reality over the next three years. Cars are depreciating assets at the end of the day.

No one should be leasing today with the thought that they are going to be getting an equity check 36 months down the line.

Most leases, outside some of the games with the $7500 EV credits, are simply abysmal in the current market

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I wouldn’t plan on equity but I doubt things will ever go back to how they were. Doesn’t mean they will be abysmal but amount of cars on lots has pretty consistently declined over past few decades. Inventories are inefficient.