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  #13  
Old 11-13-2015, 04:46 PM
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Re: Would like some confirmation on lease figures, please

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Originally Posted by MD Boy View Post
Geez, where are you guys getting these great lease deals? I went to Koon's in Tysons (VA) and about another dozen dealerships in the area (MD) and have been getting quoted between, $640-$715/month on an Overland with Advance Tech package and V6 (MSRP: ~$49,500). Summit's with a V6 from $750-$850/Month.

Now, that's for 36 months, 12k/year and absolutely $0 down/$0 drive off - And Tier 1 CR.

Is ~$650 too high for an Overland or $750/month for a Summit?
Yup same thing. I've been talking to Koons as well. Overland 4x4, V6, Advanced tech package: lease payment of about 626. Add in the Diesel and it's about 722. And that's with zero down. My last Grand Cherokee was totaled last week (2014 Limited 4x4, diesel, advanced tech, off road package, luxury package only 17500 miles) so because I'm already with Chrysler Capital I can get 3000 in rebates if I use them again. Man I wish I was seeing payments in the 400-500 area. I could save money and not get the diesel this time, but I'm worried i'll regret it.

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  #14  
Old 11-13-2015, 05:06 PM
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Re: Would like some confirmation on lease figures, please

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Originally Posted by zona75 View Post
Yup same thing. I've been talking to Koons as well. Overland 4x4, V6, Advanced tech package: lease payment of about 626. Add in the Diesel and it's about 722. And that's with zero down. My last Grand Cherokee was totaled last week (2014 Limited 4x4, diesel, advanced tech, off road package, luxury package only 17500 miles) so because I'm already with Chrysler Capital I can get 3000 in rebates if I use them again. Man I wish I was seeing payments in the 400-500 area. I could save money and not get the diesel this time, but I'm worried i'll regret it.
Hey man, thanks for your reply. I walked away from the JGC at the moment, because a mid-$600 lease payment is ridiculous for a $50k vehicle, esp with the '16's on the horizon. Had they come down to a realistic figure of >$500, yeah, would've brought it home that day.

Good luck with your search and sorry to hear about your '14 getting totaled.
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Old 11-13-2015, 05:39 PM
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Re: Would like some confirmation on lease figures, please

2015 GC High Altitude with Harmon Kardon, $50,880 msrp. I'm paying $600 including sales tax, 24 month lease with 18k miles per year.
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Old 11-13-2015, 05:43 PM
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Re: Would like some confirmation on lease figures, please

My understanding is that Koons generally doesn't have great lease rates; but their buy offers tend to be very aggressive. That may be a factor, pardon the expression, of what leasing companies they use. You might consider contacting independent leasing concerns and see what they could do if you negotiate a great "buy" price from the dealer or go farther afield for a better lease deal from a Jeep dealer.
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  #17  
Old 11-13-2015, 05:45 PM
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Re: Would like some confirmation on lease figures, please

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Originally Posted by 2015 High Altitude View Post
2015 GC High Altitude with Harmon Kardon, $50,880 msrp. I'm paying $600 including sales tax, 24 month lease with 18k miles per year.
Wow, you did well for yourself; esp being it's a 24 month/18k.

Mind if ask if you put anything down?

Thanks in advance.
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  #18  
Old 11-13-2015, 05:54 PM
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Re: Would like some confirmation on lease figures, please

Quote:
Originally Posted by Jim_in_PA View Post
My understanding is that Koons generally doesn't have great lease rates; but their buy offers tend to be very aggressive. That may be a factor, pardon the expression, of what leasing companies they use. You might consider contacting independent leasing concerns and see what they could do if you negotiate a great "buy" price from the dealer or go farther afield for a better lease deal from a Jeep dealer.
Another leasing company? Such as Ally? Ive used them in the past too. I figured since they were going with Chysler Capital, which is who i have now, it wasnt going to be a crappy lease.
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  #19  
Old 11-13-2015, 06:03 PM
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Re: Would like some confirmation on lease figures, please

[QUOTE=MD Boy;1237793]Wow, you did well for yourself; esp being it's a 24 month/18k.

Mind if ask if you put anything down?

Thanks in advance.[/QUOTE
$1200 out of pocket, I've made two payments in total and my payoff is only $38k. My deal was a bit more involved as I came out of two previous leases on 2015 Overlands however, I knew this deal was too good to pass up.
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  #20  
Old 11-13-2015, 10:04 PM
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Re: Would like some confirmation on lease figures, please

I just leased a '15 High Altitude this evening. Just a couple of hours ago. I traded in my '14 Overland (which was on a lease up until last week but I did a buy-out [with 10 months left on the lease] and financed it through my credit union). I've had the '14 Overland for 30 months.

The High Altitude has HK Audio and V8 with an MSRP of $54,175. Negotiated price was $49,4xx.

36 mos / 10k miles. I always elect the lowest mileage option because I never turn it in - I buy it or trade it in on the next vehicle so mileage on the vehicle is irrelevant.

Payment is $640/mo. There is no sales tax included because I got a sales-tax credit on my trade-in. This saved me $70/mo on the payment.

Residual: 49%.

^^ That's where they made their money (residual) but I'm fine with that. I'd rather pay more each month and have a lower buy-out in ~30 months when I buy it and re-up another lease on a new one.

I didn't pay ONE PENNY out of pocket. Not a cent. My first month's payment was paid for in the rebates I got.

So I essentially handed in my '14 Overland (V6 with 31k miles) and walked out with a '15 High Altitude (w/ V8 and HK) for FREE.

My payment went up by $2/mo over what I was paying for my Overland was when it was under lease and this High Altitude cost $6k more than the Overland.

They dropped the money factor from .00017 to .00007 so that made a difference, too.

(they lowered the residual but also lowered the MF which, still favored them, but evened things out in a way)

I'm happy.

I could have negotiated for a higher residual, which would have lowered the payment, but they did enough for me on trade-in. They came up almost $1,800 on trade-in value so I had no negative equity there at all on trade-in.

Loving the V8. And loving this High Altitude!!
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  #21  
Old 11-14-2015, 12:25 AM
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Re: Would like some confirmation on lease figures, please

Quote:
Originally Posted by Copefree View Post
I just leased a '15 High Altitude this evening. Just a couple of hours ago. I traded in my '14 Overland (which was on a lease up until last week but I did a buy-out [with 10 months left on the lease] and financed it through my credit union). I've had the '14 Overland for 30 months.

The High Altitude has HK Audio and V8 with an MSRP of $54,175. Negotiated price was $49,4xx.

36 mos / 10k miles. I always elect the lowest mileage option because I never turn it in - I buy it or trade it in on the next vehicle so mileage on the vehicle is irrelevant.

Payment is $640/mo. There is no sales tax included because I got a sales-tax credit on my trade-in. This saved me $70/mo on the payment.

Residual: 49%.

^^ That's where they made their money (residual) but I'm fine with that. I'd rather pay more each month and have a lower buy-out in ~30 months when I buy it and re-up another lease on a new one.

I didn't pay ONE PENNY out of pocket. Not a cent. My first month's payment was paid for in the rebates I got.

So I essentially handed in my '14 Overland (V6 with 31k miles) and walked out with a '15 High Altitude (w/ V8 and HK) for FREE.

My payment went up by $2/mo over what I was paying for my Overland was when it was under lease and this High Altitude cost $6k more than the Overland.

They dropped the money factor from .00017 to .00007 so that made a difference, too.

(they lowered the residual but also lowered the MF which, still favored them, but evened things out in a way)

I'm happy.

I could have negotiated for a higher residual, which would have lowered the payment, but they did enough for me on trade-in. They came up almost $1,800 on trade-in value so I had no negative equity there at all on trade-in.

Loving the V8. And loving this High Altitude!!
Sorry, I'm still rather new with this whole leasing thing. So the Money Factor and residual are negotiable? I'm going to assume since Koons is doing 6% under invoice they aren't going to budge on those.
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  #22  
Old 11-14-2015, 01:54 AM
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Re: Would like some confirmation on lease figures, please

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Originally Posted by zona75 View Post
Sorry, I'm still rather new with this whole leasing thing. So the Money Factor and residual are negotiable? I'm going to assume since Koons is doing 6% under invoice they aren't going to budge on those.
Three areas that affect payment:

- Negotiated Price of vehicle (obviously)
- money factor (interest rate)
- residual (what the car is worth at lease-end)

They'll jimmy these around one way or another to make the deal appear better than it is.

Keep in mind, the lower the residual, the higher your payment. And the higher the residual, the lower your payment. That being said, if your residual was 90% (would never happen, example only) on a 3 year/36k. Your payment would be ridiculously low but you'd be upside down on the car in no time and would have no other choice than to turn the car in at lease-end. There would be no chance at getting equity in the car which is so common on leases.

For example, my 49% residual on my $54k MSRP High Altitude means I can purchase the jeep in 36 months for $26,460. It will definitely be worth MORE than that at lease-end. So I'll have equity. A couple grand, easily. Probably $3-4K. If they had set the residual at 54%, sure my payment would be lower, but the lease-end value would be $29,160. Not as attractive, is it?

You want to make sure everything is within the "good deal" range.

They'll tell you the money factor and residual aren't negotiable, but they are.
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  #23  
Old 11-14-2015, 08:03 AM
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Re: Would like some confirmation on lease figures, please

Most don't purchase their vehicle at the end of their lease however, some do for the purpose of keep their vehicle and others perhaps to sell it. Although resale values have been strong on the GC, often making it an attractive buy at lease end, one still has to go through the troubles of paying it off, paying sales tax on the purchase price and reregistering and titling (at least in most states) futher cutting into ones possible profits should they be looking to flip it.

The current lease incentives are great, offering an opportunity to lease for reasonable terms. I traded out of 3 Overlands this summer having equity in all. Two of them were less than 6 weeks into their lease contracts. These huge incentives will likely give many the unique opportunity to exit their lease early should they wish to at any time without worries of equity issues.
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  #24  
Old 11-18-2015, 12:51 PM
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Re: Would like some confirmation on lease figures, please

Don't know if this is the right place to post - As I couldn't get the deal I wanted with an Overland or Summit, I went and leased a brand new '16 Range Rover to go with my '00 Jeep Cherokee.

I'm paying a little more a month for an $81k vehicle than the Summit, whis is $52k. Leases weren't as aggressive on the Jeeps than I thought they would be; especially with the '16's going into production.

Either way, drive your JGC's in good health.
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