2015 vs 2016 price and financing questions ... - Jeep Garage - Jeep Forum

Go Back   Jeep Garage - Jeep Forum > Jeep Platform Discussion > Grand Cherokee - WK2 -

Join Jeep Garage Today
Reply
 
Thread Tools Display Modes
 
  #1  
Old 12-18-2015, 06:45 AM
Shockwave's Avatar
Member
 
Join Date: Jul 2015
Location: Southern NH
Posts: 215
Thanks: 1
Thanked 27 Times in 23 Posts
Rep Power: 780
Shockwave will become famous soon enough
2015 vs 2016 price and financing questions ...

So I think my thoughts of getting a challenger are pretty much done. I was hoping to keep my 06 Durango for the winters but it seems little things keep going here and there, and now it has started to burn oil. So now I am going to go to my fall back plan which was either a Summit or Overland.


My question is this will be the first brand new car I have ever bought and actually only the second I will have financed. I got porked on my first finance with my 2006 Durango that I bought used less than a year old, 11% interest rate! This time I want a much better rate, <2%. My credit is 755 for my FICO score, my auto FICO credit score should be even higher. Any tips on the financing part? And what is the money factor I keep seeing to multiply by?

So my other question is the price difference between what I can expect to pay now for a 2015 vs a 2016 in the spring. I am seeing a lot of Overlands for around 41-42k on the websites in my area, even some Summits as low as 43-44k. What could I expect to pay for a 2016 Overland or Summit in the spring at the absolute lowest?

Or just wait until September and buy a 2016 before the 2017 comes out?

Reply With Quote
Sponsored Links
Advertisement
 
  #2  
Old 12-18-2015, 09:14 AM
JTS97Z28's Avatar
Premium Member
My Jeep: 2015 3.6L WK2
 
Join Date: Jan 2011
Location: Plainfield, IL
Posts: 3,861
Thanks: 88
Thanked 618 Times in 455 Posts
Rep Power: 28704
JTS97Z28 has a reputation beyond reputeJTS97Z28 has a reputation beyond reputeJTS97Z28 has a reputation beyond reputeJTS97Z28 has a reputation beyond reputeJTS97Z28 has a reputation beyond reputeJTS97Z28 has a reputation beyond reputeJTS97Z28 has a reputation beyond reputeJTS97Z28 has a reputation beyond reputeJTS97Z28 has a reputation beyond reputeJTS97Z28 has a reputation beyond reputeJTS97Z28 has a reputation beyond repute
Re: 2015 vs 2016 price and financing questions ...

Wow 11% interest rate?? how the heck did that happen? I have been driving (and buying cars) for 16+ years and as long as I can remember rates for a person with good+ credit they were always below 5%.
Anyway, like you said you should have no problem getting well below 5% on a new one and if you get approved they typically have 0% deals for up to 60 months.

Besides any price increase that the 2016s may have, there is also the fact that since they are new and the latest and greatest dealers may not be willing to deal as much on those. There will be MUCH better deals on the 2015 models for a while. When I bought my 2014 Summit new the 2015s were on the lots for a while so I got a great deal on a "left over" 2014. Doing something like that might be the way to go if you are looking for the best possible deal without waiting a couple years to get a deal on a 2016.
__________________
2015 Jeep Grand Cherokee High Altitude, Bright White, V6, HK audio
Reply With Quote
  #3  
Old 12-18-2015, 10:49 AM
Jim_in_PA's Avatar
Super Moderator

My Jeep: 2012 5.7L WK2
 
Join Date: Jul 2012
Location: SE PA (central Bucks County)
Posts: 4,476
Thanks: 810
Thanked 622 Times in 498 Posts
Rep Power: 96283
Jim_in_PA has a reputation beyond reputeJim_in_PA has a reputation beyond reputeJim_in_PA has a reputation beyond reputeJim_in_PA has a reputation beyond reputeJim_in_PA has a reputation beyond reputeJim_in_PA has a reputation beyond reputeJim_in_PA has a reputation beyond reputeJim_in_PA has a reputation beyond reputeJim_in_PA has a reputation beyond reputeJim_in_PA has a reputation beyond reputeJim_in_PA has a reputation beyond repute
Garage
Re: 2015 vs 2016 price and financing questions ...

Many credit unions offer below-2% financing...PenFed is 1.49%, for example. And that's even for used vehicles quite often. Occasionally, they have a "sale" and offer .99% for new.
__________________
2012 GC Overland Summit - Winter Chill with New Saddle interior. 5.7L HEMI V8 - Pirelli Scorpion Verde Plus "shoes" - LED fogs and DRLs



Day-job...Telecom Technical Sales
Avocations...Woodworking, Equestrian, Food, Photography
Reply With Quote
  #4  
Old 12-19-2015, 08:35 AM
Shockwave's Avatar
Member
 
Join Date: Jul 2015
Location: Southern NH
Posts: 215
Thanks: 1
Thanked 27 Times in 23 Posts
Rep Power: 780
Shockwave will become famous soon enough
Re: 2015 vs 2016 price and financing questions ...

Thanks. The 11% was due to the fact I had almost no credit at the time. I never used credit cards and hurt my credit pretty bad when I was 18 back in the mid 1990's with the bad cell phone plans then lol. I ended up having a $2000 bill that I never paid. My credit score was in the 500's until about 2004 when I decided to fix it. By 2007 I had a score of around 645, high enough to buy my house. But buying that dropped my score to about 610 for a few months and that is when I bought my 2006 Durango.

Actually I was thinking of it earlier and if I was to buy a 2015 right now or even a few months from now, when the 2017 comes out in the fall It will be 2 years old already lol.
Reply With Quote
  #5  
Old 12-19-2015, 12:39 PM
dlang's Avatar
Member
My Jeep: 2015 3.6L WK2
 
Join Date: Dec 2009
Location: East Greenbush, NY
Posts: 86
Thanks: 62
Thanked 4 Times in 4 Posts
Rep Power: 2678
dlang is on a distinguished road
Re: 2015 vs 2016 price and financing questions ...

Now would be the time to get a deal 2015 since it's the end of month & year. I just got a great deal on a 2015 Limited and a great trade in on my Charger. Plus the rebates depending on trim level...couldn't pass it up. Also, keep in mind the power train warranty goes from 5yr/100k on a '15 to 5yr/60k on a '16 model.
Reply With Quote
  #6  
Old 12-19-2015, 12:42 PM
Shockwave's Avatar
Member
 
Join Date: Jul 2015
Location: Southern NH
Posts: 215
Thanks: 1
Thanked 27 Times in 23 Posts
Rep Power: 780
Shockwave will become famous soon enough
Re: 2015 vs 2016 price and financing questions ...

Quote:
Originally Posted by dlang View Post
Now would be the time to get a deal 2015 since it's the end of month & year. I just got a great deal on a 2015 Limited and a great trade in on my Charger. Plus the rebates depending on trim level...couldn't pass it up. Also, keep in mind the power train warranty goes from 5yr/100k on a '15 to 5yr/60k on a '16 model.
How do The rebates work? They just take the price off the vehicle or just mail you a check? The powertrain warranty changes I'm aware of but not concerned with.
Reply With Quote
  #7  
Old 12-19-2015, 12:52 PM
narc0lept's Avatar
Member
My Jeep: 2015 3.6L WK2
 
Join Date: Dec 2015
Location: Wilkes-Barre/Scranton, PA
Posts: 46
Thanks: 15
Thanked 13 Times in 9 Posts
Rep Power: 448
narc0lept is on a distinguished road
Re: 2015 vs 2016 price and financing questions ...

Quote:
Originally Posted by dlang View Post
Now would be the time to get a deal 2015 since it's the end of month & year. I just got a great deal on a 2015 Limited and a great trade in on my Charger. Plus the rebates depending on trim level...couldn't pass it up. Also, keep in mind the power train warranty goes from 5yr/100k on a '15 to 5yr/60k on a '16 model.
Have to agree. I pick up my 15 Laredo E on Wednesday, and I got quite an impressive lease deal with 0 down. There was $6750 in rebates available to me off of the negotiated price for the car, including the $1000 lease conquest cash.

Could put me in a positive equity spot on it in 2 years or so, that I might be able to wok a trade on it and end up in a higher trim for the same monthly payment or less.

To answer the other poster, the rebates come off the sale price, they don't mail you a check.
Reply With Quote
  #8  
Old 12-19-2015, 01:48 PM
Member
My Jeep: 2015 5.7L WK2
 
Join Date: Dec 2015
Location: Long Island
Posts: 237
Thanks: 5
Thanked 33 Times in 27 Posts
Rep Power: 744
EasternLI has a reputation beyond reputeEasternLI has a reputation beyond reputeEasternLI has a reputation beyond reputeEasternLI has a reputation beyond reputeEasternLI has a reputation beyond repute
Re: 2015 vs 2016 price and financing questions ...

Quote:
Originally Posted by narc0lept View Post
Have to agree. I pick up my 15 Laredo E on Wednesday, and I got quite an impressive lease deal with 0 down. There was $6750 in rebates available to me off of the negotiated price for the car, including the $1000 lease conquest cash.

Could put me in a positive equity spot on it in 2 years or so, that I might be able to wok a trade on it and end up in a higher trim for the same monthly payment or less.

To answer the other poster, the rebates come off the sale price, they don't mail you a check.
Jeez, $6750 in rebates ! I thought I was doing pretty awesome 3 weeks ago when I got $4500, how are your rebates broken down if you don't mind me asking ?
__________________
2015 Overland High Altitude / Billet Silver / Hemi / Harman Kardon / Volant CAI / Hellwig sway bar / AAR links / 22x10 SRT wheels
Reply With Quote
  #9  
Old 12-19-2015, 01:49 PM
Jim_in_PA's Avatar
Super Moderator

My Jeep: 2012 5.7L WK2
 
Join Date: Jul 2012
Location: SE PA (central Bucks County)
Posts: 4,476
Thanks: 810
Thanked 622 Times in 498 Posts
Rep Power: 96283
Jim_in_PA has a reputation beyond reputeJim_in_PA has a reputation beyond reputeJim_in_PA has a reputation beyond reputeJim_in_PA has a reputation beyond reputeJim_in_PA has a reputation beyond reputeJim_in_PA has a reputation beyond reputeJim_in_PA has a reputation beyond reputeJim_in_PA has a reputation beyond reputeJim_in_PA has a reputation beyond reputeJim_in_PA has a reputation beyond reputeJim_in_PA has a reputation beyond repute
Garage
Re: 2015 vs 2016 price and financing questions ...

Quote:
Originally Posted by Shockwave View Post
T
Actually I was thinking of it earlier and if I was to buy a 2015 right now or even a few months from now, when the 2017 comes out in the fall It will be 2 years old already lol.
Production of MY17 starts mid-year with delivery late summer. MY16 is a very short model year.
__________________
2012 GC Overland Summit - Winter Chill with New Saddle interior. 5.7L HEMI V8 - Pirelli Scorpion Verde Plus "shoes" - LED fogs and DRLs



Day-job...Telecom Technical Sales
Avocations...Woodworking, Equestrian, Food, Photography
Reply With Quote
  #10  
Old 12-19-2015, 02:03 PM
narc0lept's Avatar
Member
My Jeep: 2015 3.6L WK2
 
Join Date: Dec 2015
Location: Wilkes-Barre/Scranton, PA
Posts: 46
Thanks: 15
Thanked 13 Times in 9 Posts
Rep Power: 448
narc0lept is on a distinguished road
Re: 2015 vs 2016 price and financing questions ...

Quote:
Originally Posted by EasternLI View Post
Jeez, $6750 in rebates ! I thought I was doing pretty awesome 3 weeks ago when I got $4500, how are your rebates broken down if you don't mind me asking ?
I don't have it in front of me right now -- I'll get you the breakdown by Wednesday if I can't find it before -- I know right off the bat there was 5750 and when we were going back and forth I found the conquest cash lease rebate and brought that to their attention.

I hadn't mentioned it before because I wasn't trading so I wanted to get them as low as possible before adding that on. I'll get you the full breakdown though.
Reply With Quote
  #11  
Old 12-19-2015, 02:03 PM
dlang's Avatar
Member
My Jeep: 2015 3.6L WK2
 
Join Date: Dec 2009
Location: East Greenbush, NY
Posts: 86
Thanks: 62
Thanked 4 Times in 4 Posts
Rep Power: 2678
dlang is on a distinguished road
Re: 2015 vs 2016 price and financing questions ...

Quote:
Originally Posted by Shockwave View Post
How do The rebates work? They just take the price off the vehicle or just mail you a check? The powertrain warranty changes I'm aware of but not concerned with.
Yeah, they take the price off vehicle. I live in upstate NY near Albany. Jeep.com says $1500 rebate on a Limited and $2000 on an Overland. My dealer said there was and additional $500 for Northeast Bonus so I got $2000 in rebates. You take the new vehicle price, subtract out your trade and that is the purchase price. Calculate your taxes on that price then subtract out the rebates and any cash down to get your finance amount.
Reply With Quote
  #12  
Old 12-19-2015, 02:12 PM
New Member
 
Join Date: May 2012
Posts: 1
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
smmeloy is on a distinguished road
Re: 2015 vs 2016 price and financing questions ...

Do you have any more information on the conquest cash $1000 rebate. I am in process of possibly leasing a Grand Cherokee, they have already offered me $5750 in rebates but the money factor is way to high on the deal. Trying to work with them on that or else the deal doesn't make sense.
Reply With Quote
Reply

Tags
2015

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Grand Cherokee 2015 Overland 4*4 with price 42007 VS 2015 limited 4*4 with price 3537 knowme Grand Cherokee - WK2 - 12 04-28-2015 01:29 AM
Financing rates gonzanc Grand Cherokee - WK2 - 2 04-05-2011 06:36 PM
Financing Question mongo1271 Grand Cherokee - WK2 - 34 02-08-2011 08:45 PM
Chrysler/Jeep Financing? Hollywood Grand Cherokee - WK2 - 18 01-10-2011 02:12 AM
Financing rates? Danco Grand Cherokee - WK2 - 52 12-29-2010 10:26 PM

Powered by vBadvanced CMPS v3.2.3

All times are GMT -5. The time now is 08:55 AM.


Powered by vBulletin® Version 3.8.8
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
Copyright 2012 - JeepGarage.Org
The Jeep Grand Cherokee Owners Community

JeepGarage.org is in no way associated with or endorsed by FCA US LLC. Chrysler, Dodge, Jeep, Ram, Mopar and SRT are registered trademarks of FCA US LLC.