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Well, it's getting serious now...

8K views 61 replies 11 participants last post by  Dan JGC 
#1 · (Edited)
Soooo...........finally....after a long and painful wait, I'm getting prepared to order the Jeep of my dreams..;)

I contacted my local dealer and will be meeting him this Saturday.
As my sig is already suggesting, I'm looking at a 2015 Summit (a 4x4 V6, to be exact).

I've done my homework by becoming a Lifetime jeepgarage- and a $100-level tread lightly-member a few months ago.

I'm planning on leasing for 36 months/12K miles/year.

Now, when it comes to pricing:

I'm aiming at 4% below invoice. Does that sound right (also considering my tread lightly membership) or am I expecting too much?:eek:

I'm also looking at a few accessories like skid-plates and door entry-guards. I would be willing to pay full MSRP on those in return to have them installed without charge.

Any other stuff I have to keep in mind on Saturday? Should I be receiving/asking for a VON for Milous' exclusive tracking? Any recent experience in getting manufacturer rebate-coupons?

Any input is highly appreciated!

Thanks, folks!:thumbsup:
 
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#2 ·
^^^^^^

Congrats. Purchase price does impact lease payment but residual % and money factor sway lease payment more. Case in point, all who approach the DC Group Buy dealer to lease are disappointed with the lease payment even though purchase is as low as is possible. That's due to the leasing co. they use and the residual % and money factor they use. So, when shopping for lease payment, yes, getting purchase price down is helpful but getting a "Spiffed" lease is best. You will find dealers that have a great leasing company deal not necessarily discounting too much since they don't have to to offer a competitive lease payment.

Use the lease deal offered on Jeep Dot Com using your zip under "Incentives" as the deal to beat.
 
#3 ·
more...

So I went to Truecar Dot Com using 33602 zip and looks like your local market is very competitive and offering 5.5% below invoice for a '15 Summit 4x4 V6 straight up. You probably cannot use your TreadLightly with that as they probably already have some Affiliate discount in their pricing scheme to get that low.

Again, these 3 dealers may have the better lease payment than someone not giving as big a discount but they may not per my thoughts above.

Hope this helps...good luck.
 
#4 ·
Thank you very much for your input!

One question though: I just visited Truecar and enetred the zip but all prices/savings are based on % off MSRP - where can I find the 5.5% below invoice on that site?:confused:
 
#9 ·
Couple points...5.5% below invoice if u find it it not a starting point, its the best possible or very very nearly so ending point...truecar prices like most online/internet prices are also nearly an endpoint if its really a no haggle price like the DC buy WOW internet price (extremely close to group buy price)....since truecar really is a live look at real deal prices it represents probable reality for your local market.... My point is that the prices above are current then 4% below invoice in your market (without rebates) is unfortunately probably unrealistic....best bet is to hit your local dealer internet sites and work a deal thru the Internet Mgr (may have more than one) as they are the high volume low margin (sometimes) channel.... Yes, Milous is on it with price increases, posted is accurate.... Also, b aware that the msrp is burned in to the vehicle at ship from factory so when the increase happens u can try to locate a pre-increase one but it gets dicey...
 
#10 ·
Couple points...5.5% below invoice if u find it it not a starting point, its the best possible or very very nearly so ending point..
Oh, no doubt about that. By "making the negotiating easier", I wasn't thinking about getting an even lower price on the Jeep. I was thinking about the entire process - after all, i'm also looking at some accessories and last but not least, have a trade-in as well.

truecar prices like most online/internet prices are also nearly an endpoint if its really a no haggle price like the DC buy WOW internet price (extremely close to group buy price)....since truecar really is a live look at real deal prices it represents probable reality for your local market....
That would be bad. The numbers I was able to obtain from truecar for my area were worse than tread lightly - and based on what others have posted in the past, the 1% below invoice through tread lightly is indeed the "worst" price you would have to pay through the program - or in other words, is the price where you start negotiating. If my local dealer would insist on 1% below as lowest price possible, I'd probably take my business somewhere else - unless the lease-deal is exceptional.

My point is that the prices above are current then 4% below invoice in your market (without rebates) is unfortunately probably unrealistic....best bet is to hit your local dealer internet sites and work a deal thru the Internet Mgr (may have more than one) as they are the high volume low margin (sometimes) channel.... Yes, Milous is on it with price increases, posted is accurate.... Also, b aware that the msrp is burned in to the vehicle at ship from factory so when the increase happens u can try to locate a pre-increase one but it gets dicey...
Thanks! I'll keep that in mind.:thumbsup:
 
#11 ·
One more thing for folks like u in a rather uncompetitive market... Try other pre-built discount programs like AAA, Costco, USAA among others. A trade also complicates it as a dealer will virtually never gut a deal on the sale side AND give you a "happy" trade numb....with your scenario u r just going to have to get a couple/few best payment quotes Jeeping everything else the same as best u can to evaluate them apples to apples...good luck, keep us informed.
 
#12 ·
Thanks for your input!

Basically, I'm currently waiting for Jeep to update their website to MY15 in order for me to get some idea about the lease-quotes. I'm not sure if these numbers will be out 'til Saturday so I guess we will negotiate the numbers once my "baby" reaches the dealership.

Since there is so much involved in this deal (basically, three factors: trade, new vehicle and lease), I'll probably focus on the monthly payment. If that's a number that's close to what I calculated, I'll be happy. I'm not that type of guy that will be frustrated for the rest of his life if I pay $20/month more than somebody else who got the deal of his life.:D

In the end, only the monthly payment matters on a lease. How we get there...I really don't mind. So yeah, If the lease is good and I get a good offer on my trade, I could also live with 1 or 2% below invoice.
 
#14 ·
I never put a lot of money down on a lease. I think the maximum out of pocket I ever spent was $1K - and that was my deposit on a rather expensive BMW. This time, I don't want to put anything down.

I'm planning on leasing through Chrysler. I don't know if their policies changed but on our last lease with them a couple of years ago, we didn't have to put any money down, either.

In fact, we actually agreed upon a higher purchase price and got a $5K check in the mail. Well, those were the days...:rolleyes:
 
#16 ·
I never put a lot of money down on a lease. I think the maximum out of pocket I ever spent was $1K - and that was my deposit on a rather expensive BMW. This time, I don't want to put anything down.

I'm planning on leasing through Chrysler. I don't know if their policies changed but on our last lease with them a couple of years ago, we didn't have to put any money down, either.

In fact, we actually agreed upon a higher purchase price and got a $5K check in the mail. Well, those were the days...:rolleyes:
Cool, I just wanted to b sure you understood that main thing, many folks think you have to abide by their x down numbers but they can ALWAYS b rolled in...good luck
 
#19 ·
Well, since I registered with TrueCar, I received an e-mail today about a new incentive (which would actually apply to me as well):

$1,000

2015 Chrysler, Dodge and Jeep Conquest Lease to Retail/Lease Bonus Cash


Applies to standard or special lease or retail programs. Only available to consumers currently leasing a competitive vehicle. No turn-in required. Not compatible with Employee purchase.
This incentive may not be combined with the following incentives: 2015 Chrysler 200 Sedan (excluding LX) South Carolina Lease Bonus Cash, 2015 Chrysler, Dodge and Jeep Loyalty Bonus Cash, 2015 Chrysler, Dodge, Jeep and Ram Returning Lessee Loyalty Bonus Cash, 2015 Dodge Dart Returning Lessee Loyalty Bonus Cash
See dealer for details. (Expires 3/31/2015)


BTW, there is a similar incentive for returning/current lessees.

Is this legit? I'm asking because I didn't expect ANY incentives on a MY15 that early in the game...:eek:
 
#52 ·
Well, since I registered with TrueCar, I received an e-mail today about a new incentive (which would actually apply to me as well):



$1,000



2015 Chrysler, Dodge and Jeep Conquest Lease to Retail/Lease Bonus Cash




Applies to standard or special lease or retail programs. Only available to consumers currently leasing a competitive vehicle. No turn-in required. Not compatible with Employee purchase.

This incentive may not be combined with the following incentives: 2015 Chrysler 200 Sedan (excluding LX) South Carolina Lease Bonus Cash, 2015 Chrysler, Dodge and Jeep Loyalty Bonus Cash, 2015 Chrysler, Dodge, Jeep and Ram Returning Lessee Loyalty Bonus Cash, 2015 Dodge Dart Returning Lessee Loyalty Bonus Cash

See dealer for details. (Expires 3/31/2015)




BTW, there is a similar incentive for returning/current lessees.



Is this legit? I'm asking because I didn't expect ANY incentives on a MY15 that early in the game...:eek:

Screw incentives jump on either the DC or Texas group buys which both include the 2015 lineup if you want rock bottom pricing on a brand new jeep.

I'm not surprised either they only changed very minor things most would never even notice.


Sent from my iPhone using JeepGarage
 
#20 ·
MY15 is just a continuation of MY14 for all practical purposes...I'm not surprised they would have this type of offer already available, especially since it's aimed at turning competitive vehicle lessees over to Jeep lessees.
 
#21 ·
That makes sense. Edmunds has the same "program" listed on the MY15s so it seems accurate. The funny thing is that this particular incentive does not apply to the MY14s.

But hey, I'm not complaining. A $1,000 incentive is a nice add-on and is going to save me about $30/month on my future lease-payment.:thumbsup:
 
#24 ·
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.
 
#25 ·
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...:)
 
#28 ·
That actually makes sense...thanks for pointing it out.
 
#29 ·
Now it's official - as of today, I'm a Jeep-owner in the making!:D

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?:lol:
 
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#30 · (Edited)
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.
 
#31 · (Edited)
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.
 
#42 ·
GCO, check whatever "yellow pages" equivalent you prefer for independent leasing companies and see if you can find one that wants your business. :) Not all of them will do personal vehicles, but some do. I worked with one years ago that did.
 
#47 · (Edited)
I prefer the V6 because I don't tow and the majority of the time, I'm driving in stop and go traffic. In my case, the V8 is simply a waste of money. What makes the Summit attractive are the features - it's not about the engine. If I want to have better performance and handling, I take my Lincoln MKZ for a spin. If you want true performance in a Jeep, you need to get the SRT - but that's a totally different animal. I used to own a 2006 BMW M5 so I once had the urge for "endless power". Well, not anymore. Even a Ferrari can't fly over a traffic-jam.:lol:

Vehicles depreciate - no matter if you lease, finance or pay cash. I lease because I switch cars every 2-3 years. Although I have to pay more on depreciation, I'm happy I don't have to spend money on repairs, new tires or extended warranties.

BTW, people who finance and trade their cars in after a couple of years basically ARE leasing - they just don't realize it...:D
 
#50 · (Edited)
Wait - maybe I missed it but what are you getting as a residual? Residuals on 39 Month leases right now are in the 50%s. At least for the Limiteds and Overlands.

This is through Chrysler Capital.

Go to Edmund's lease forum...they have it all spelled out there.

Oh - and that .00040 that you posted looked like the Money Factor (interest) not the residual. It also looks like they are marking it up.
 
#53 ·
Wait - maybe I missed it but what are you getting as a residual? Residuals on 39 Month leases right now are in the 50%s. At least for the Limiteds and Overlands.

This is through Chrysler Capital.

Go to Edmund's lease forum...they have it all spelled out there.
Unfortunately, the current residual on a 2015 Summit through Chrysler Capital for 39 months/12 k miles/year is indeed 46%. This number has been confirmed through the Edmunds-forum.
 
#62 ·
Looks FANTASTIC - congrats and enjoy!!!
 
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