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  #25  
Old 09-05-2014, 11:24 AM
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Re: Well, it's getting serious now...

Quote:
Originally Posted by Jim_in_PA View Post
If you build a MY14 on the site similar to what you plan on acquiring as a MY15, the lease number should be close for budgetary reasons.
Hmm, over the last couple of weeks, I noticed that the lease-numbers on jeep.com for MY14 have become significantly worse. Believe it or not but as today, with current incentives considered, a lease is more expensive than financing - and I'm not sure that will be the case for MY15 as well.

As of today, A fully loaded Summit 4x4 V6 (MSRP $54,280) priced at invoice ($2,880 below MSRP) with $0 down at 36 months/12K miles/year is listed at $804.00/month - PLUS tax.

Although Jeep never had the best lease-deals, this payment would be ridiculous. My only explanation is that this number deals with the fact that the expected residual of the MY14s - after the 15s launched - took a significant hit. A few months ago, the same payment-configurator listed this vehicle in the high $600s - and that sounds more accurate. After all, $804 + tax would mean a total of $860/month. That would get me a fully loaded X5 or ML as well...

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  #26  
Old 09-05-2014, 11:35 AM
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Quote:
Originally Posted by GCOverland View Post

Hmm, over the last couple of weeks, I noticed that the lease-numbers on jeep.com for MY14 have become significantly worse. Believe it or not but as today, with current incentives considered, a lease is more expensive than financing - and I'm not sure that will be the case for MY15 as well.

As of today, A fully loaded Summit 4x4 V6 (MSRP $54,280) priced at invoice ($2,880 below MSRP) with $0 down at 36 months/12K miles/year is listed at $804.00/month - PLUS tax.

Although Jeep never had the best lease-deals, this payment would be ridiculous. My only explanation is that this number deals with the fact that the expected residual of the MY14s - after the 15s launched - took a significant hit. A few months ago, the same payment-configurator listed this vehicle in the high $600s - and that sounds more accurate. After all, $804 + tax would mean a total of $860/month. That would get me a fully loaded X5 or ML as well...
Fo' shizzle, the lease bean counters have reduced residual of MY14's which has the single most significant impact on lease payment as every $ the residual goes down is a $ you r now "financing" in the lease...
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  #27  
Old 09-05-2014, 11:48 AM
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Re: Well, it's getting serious now...

Quote:
Originally Posted by 14SummitHemi View Post
Fo' shizzle, the lease bean counters have reduced residual of MY14's which has the single most significant impact on lease payment as every $ the residual goes down is a $ you r now "financing" in the lease...
Yup, exactly. Even if you would find "the deal of your life" on one of the remaining MY14s.....if you want to lease, you will be better off getting a brand new 15.

I simply couldn't believe my eyes when I initially saw this change - and that's why I need the update on the website for MY15. It's obvious to me that the numbers for MY15 will be quite different..
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  #28  
Old 09-05-2014, 01:18 PM
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Re: Well, it's getting serious now...

That actually makes sense...thanks for pointing it out.
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  #29  
Old 09-06-2014, 02:05 PM
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Re: Well, it's getting serious now...

Now it's official - as of today, I'm a Jeep-owner in the making!

Just returned from my local dealer and placed the following order:

2015 Grand Cherokee Summit 3.6L 4x4

PXR Brilliant Black Crystal Pearl Coat
HLU5 Jeep Brown Leather
AVP Platinum Series Group


MSRP is $53,585, agreed upon price: $49,762 (so about 2% below invoice). On top of that, I'll also be receiving the currently offered $1,000 conquest cash.

Doc-Fee: $599.75 (a bit steep but not worth arguing/no point arguing because that's probably their fixed rate for everybody - Florida law?)
Govt-Fee: $366.95 (I guess tag, title etc.)
Taxes: $2,068.29

Initially, I was planning on ordering the Rear-Seat Entertainment as well - but considering that I might only use it 2-3 times, I thought it wasn't worth it (would have increased my monthly lease by almost $40). I also decided against the CD-Player. Just for CDs, $400 is a bit steep. It also takes away the space in the center console and I'm usually either listening to Sirius or my MP3s on my USB-stick.

So far, so good. What really turned me off a bit was the lease-deal and I'm keeping my fingers crossed that those numbers will be getting better until I take delivery. As of today, the following terms are in effect:

39 months, 12K miles/year:

Rate: .00044
Residual: 46% ($24,649.10)


(The low residual was a shocker. Right now, the MY14 has the same residual and a lower rate than the 2015 which must be a marketing thing to get the 14s off the lots - in reality, a 15 will always have the higher residual)

Considering my down payment of $500.00 (dealer asked for it and as long as it's not more, I'm fine with it) and the negative equity on my trade in the amount of $1,800, my monthly payment will be $799.10.

The dealer called this number the "worst case scenario" and that my payment could be lower by about $50/month once/if they adjust the rate and/or residual. In case that doesn't happen, I might go ahead and purchase the Jeep at the end of the lease because it's very likely it will have some equity. My gut tells me that this vehicle will have a higher value after 39 months than the quoted $24K.

Well, after the initial "shock" of those lease-numbers, happiness is slowly starting to take over. After years of participating and lurking on this board, I'm close to becoming a "real" member...

I would also like to take this opportunity to thank all members/contributors to this forum (especially Milous) for their great work. What I learned here is priceless - no matter if it's Affiliate pricing- or feature-info.

BTW, I'm going to call my dealer on Monday in order to get my VON for tracking-purposes.

Oh, and yes, I'll ask anybody to comment on my numbers. Maybe I still got screwed - who knows?
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  #30  
Old 09-06-2014, 03:21 PM
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Re: Well, it's getting serious now...

Is that the chrysler residual or a different leasing company? Because that is horrible, especially on a model year that just came out.

The 2014 residual is higher than that. To put it in perspective I just leased a $54k 2014 3.6l 4x4 summit. For $800 a month with $0 down and $3k of (texas) taxes included into the monthly rate. That was for 24 months and 10k miles. But if my payment for 24 months is about the same as your payment for 39 months, something seems wrong.

I don't want to offend you, I just think something might be wrong.

Edit ---- I am sorry, completely missed the line about the $1800 negative equity. That is almost $50 a month. I have no clue how long it takes to receive a jeep from the day you order it, but there is no doubt I would wait until October to sign. There is no way the numbers will get worst than what they are right now.
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  #31  
Old 09-06-2014, 03:46 PM
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Re: Well, it's getting serious now...

Quote:
Originally Posted by ylnad123 View Post
Is that the chrysler residual or a different leasing company? Because that is horrible, especially on a model year that just came out.

The 2014 residual is higher than that. To put it in perspective I just leased a $54k 2014 3.6l 4x4 summit. For $800 a month with $0 down and $3k of (texas) taxes included into the monthly rate. That was for 24 months and 10k miles. But if my payment for 24 months is about the same as your payment for 39 months, something seems wrong.

I don't want to offend you, I just think something might be wrong.
No offense taken - as I said, I'm thankful for any input.

The lease-numbers are directly from Chrysler Capital and as it stands today, the residual Chrysler is using for the MY14 is indeed higher than the one they are currently using on the 15. It is insane but that's how it is. The dealer showed me the numbers for MY14 and MY15.

It seems they want to clear out the MY14s off the lots first before offering a better rate on the 15s.

Also keep in mind that I'm rolling a total of $1,800 ($1,300 after my down payment) of negative equity into the deal. This alone increases my payment by at least $35. So without my trade, the payment for 36 months / 12K/year would be at $765.00. Now, looking at the money-factor and bad residual, my payment with your MY14 residual and money-factor would be at about $700. Considering that you only bought 10K miles / year instead of 12K, my comparable deal would be in the high 600's which sounds about right.

So right now, the only issue I can see are the bad lease-numbers which will hopefully improve until I take delivery.
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  #32  
Old 09-06-2014, 03:50 PM
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Re: Well, it's getting serious now...

Quote:
Originally Posted by GCOverland View Post
No offense taken - as I said, I'm thankful for any onput.

The lease-numbers are directly from Chrysler Capital and as it stands today, the residual Chrysler is using for the MY14 is indeed higher than the one they are currently using on the 15. It is insane but that's how it is. The dealer showed me the numbers for MY14 and MY15.

It seems they want to clear out the MY14s off the lots first before offering a better rate on the 15s.

Also keep in mind that I'm rolling a total of $1,800 ($1,300 after my down payment) of negative equity into the deal. This alone increases my payment by at least $35. So without my trade, the payment for 36 months / 12K/year would be at $765.00. Now, looking at the money-factor and bad residual, my payment with your MY14 residual and money-factor would be at about $700. Considering that you only bought 10K miles / year instead of 12K, my comparable deal would be in the high 600's which sounds about right.

So right now, the only issue I can see are the bad lease-numbers which will hopefully improve until I take delivery.
Yeah, I edited my post. Completely missed the $1800 number. The september numbers got much worst. The August numbers for 2015's were better, the residual was in the 50's money factor was about the same. The odd thing is that the september numbers for the 14's are much worse too. I figured they would keep the 14's the same to try to get rid of them.

Again, if possible, I would for sure wait for the october numbers.
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  #33  
Old 09-06-2014, 04:10 PM
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Re: Well, it's getting serious now...

Quote:
Originally Posted by ylnad123 View Post
Yeah, I edited my post. Completely missed the $1800 number. The september numbers got much worst. The August numbers for 2015's were better, the residual was in the 50's money factor was about the same. The odd thing is that the september numbers for the 14's are much worse too. I figured they would keep the 14's the same to try to get rid of them.

Again, if possible, I would for sure wait for the october numbers.
Yeah, I won't take delivery prior to the first week of November. Hopefully, the numbers will be better then.

My dealer told me that the current numbers are "worst case" and looking at them, I believe him..

The lease-numbers are a factor I can't influence and I'm keeping my fingers crossed they will be better once I take delivery.

I think that the rest of my deal isn't too bad. 2% below invoice in my area is about as good as it gets.

My trade-in is currently listed at $8,600 on KBB. My dealer agreed to pay me $8,000 for my trade in 2 months when I take delivery (KBB would be down at least another $600 by then). I think that is reasonable as well.

I'll keep a close eye on the lease-numbers for October and November.
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  #34  
Old 09-06-2014, 04:14 PM
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Re: Well, it's getting serious now...

Does everybody who leases go through Chrysler, or can you shop around as you might for a loan?


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  #35  
Old 09-06-2014, 04:18 PM
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Re: Well, it's getting serious now...

What dealer are you buying from?
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  #36  
Old 09-06-2014, 04:22 PM
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Re: Well, it's getting serious now...

Quote:
Originally Posted by bill_de View Post
Does everybody who leases go through Chrysler, or can you shop around as you might for a loan?
My dealer also checked leasing through Ally - they were even worse...
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