Jeep Garage  - Jeep Forum

Jeep Garage - Jeep Forum (http://www.jeepgarage.org/forums.php)
-   Grand Cherokee - WK2 - (http://www.jeepgarage.org/f73/)
-   -   Good lease deal for 2011? Please help! (http://www.jeepgarage.org/f73/good-lease-deal-for-2011-please-help-23594.html)

WMO888 05-24-2011 09:49 AM

Good lease deal for 2011? Please help!
 
The dealer today offered me the following deal on a 2011 JGC that was the owners car and has 3k miles on it. I would not be penalized on the miles.
39 months
10k miles per year
$3500 total due at signing.
$359 a month all in (including tax, etc.)

They told me I am only getting such a good deal because they want to move the car and it has 3k miles already on it. Is this a deal that I should jump on? The color is the dark blue which I like but is not my favorite. Willing to live with it though if I am getting a great deal on it.

Can anyone offer some advice on whether I should do the deal? This is a base Jeep - cloth seats, no sunroof. Only thing it does have is the convenience package - remote starts, garage opener, bluetooth, etc.

Parks311 05-24-2011 10:18 AM

Re: Good lease deal for 2011? Please help!
 
If the $359 is all inclusive (taxes, etc) then it might not be too bad. 10,000 miles is a little tight for me though. I'm pretty sure the lease deal going on right now for a Brand New Jeep Laredo 4X4 is $369/month with $2499 down plus security deposit and 12,000 miles per year. The $369 does not include tax title and license though.

WMO888 05-24-2011 10:38 AM

Re: Good lease deal for 2011? Please help!
 
10k works for me...usually do 8-9k a year.

I have the dealer working on it now. $369 total (includes tax, etc.) due each month with a total due at signing of $2499. I have been told the lease special actually requires almost $4200 down...that the $2,499 does not include everything. I am trying to push to get the total amount to $2,499 not the $4,200.

Does anyone know the exact specifics of the lease special?

Dealer says the lease special is based off roughly $300 over invoice for the vehicle.

Also, they are offering to do leather in the interior themselves for $1,500 which I am considering but will probably not jump on.

jgc4ever 05-24-2011 10:48 AM

Re: Good lease deal for 2011? Please help!
 
I doubt the dealer has the capability to do leather interior themselves. They probably just have a local company or guy do the interior and then charge you more for it. Cut out the dealer and find your local auto leather upholsterer to get a much better price, if you decide to go with leather.

Why don't you get a laredo with less than 10 miles?

They're trying to overcharge you I think.

WMO888 05-24-2011 11:46 AM

Re: Good lease deal for 2011? Please help!
 
What do you mean get a laredo with less than 10k? The lease i am trying to get. $369 month with a total of 2,499 due at signing is for a Laredo E 4x4model...no options.

Agree about the leather option. Will take a pass.

This seems like a good deal. But not sure.

jgc4ever 05-24-2011 11:51 AM

Re: Good lease deal for 2011? Please help!
 
Less than 10 miles = brand new, never driven (not 10k), and not 3k miles.

jgc4ever 05-24-2011 11:52 AM

Re: Good lease deal for 2011? Please help!
 
Just saying make sure you get a significant extra discount off the price for those 3000 miles they put on it, compared to what you could get for a new one with no miles with the same options.

WMO888 05-24-2011 12:02 PM

Re: Good lease deal for 2011? Please help!
 
I am taking a pass on the the 3k mile vehicle. not my color anyhow, prefer the charcoal color.

If I can get the $369 all in with a total due at signing of $2,499 is that a deal I should pounce on? Base laredo with cloth seats. 39 months, 10k a year.

jgc4ever 05-24-2011 12:06 PM

Re: Good lease deal for 2011? Please help!
 
Hopefully someone chimes in. I don't know anything about leasing.

Bmwister 05-24-2011 01:32 PM

Re: Good lease deal for 2011? Please help!
 
Quote:

Originally Posted by WMO888 (Post 419822)
Does anyone know the exact specifics of the lease special?

Dealer says the lease special is based off roughly $300 over invoice for the vehicle.

Laredo, Limited or Overland? If you are not intimately in-the-know regarding the lease specifics or what the price-less-residual amount from which the lease payment is based then you probably should reconsider the decision to lease, IMHO. I see many people focus too much on the monthly payment rather than cumulative cost. Don't forget insurance costs more on a leased vehicle than if purchased to own. Leasing works better for teh tax write off in a business vs a personal use situation...again, IMHO.

What is the residual value at the end of the lease (i.e. the payoff to keep it)? Take the "price" the dealer is claiming he is using for the lease and subtract the residual value from the price; that is the amount you are financing (leasing).

I calculated what my purchased Limited Hemi 4x4 would cost me after 3.5 years (42 mo) assuming a reasonable $27,000 sell price with ~46,000 miles at that point and it is equivalent to $384/mo out of pocket...if I was going to sell it at that particular point. Of course, nothing is guaranteed in the future, but it's an actuarial calculation. I KNOW that I could never have leased my vehicle for less because when I purchased (well below invoice) I paid for it in full which equates to zero interest financing. It made more sense to me than gambling on an erratically valued stock market or a 1% APR bank note. YMMV.

WMO888 05-24-2011 02:09 PM

Re: Good lease deal for 2011? Please help!
 
Laredo e - MSRP is $32,995. Dealer quoted me the following...
39 months
10k year
$369 month (all in)
$3300 total due at signing. (all in)

This seems like a decent deal and on target with the lease special Jeep advertises on their web page. Trying to make the decision and am having a tough time.

Have requested residual which I will post shortly.

Bmwister 05-24-2011 03:32 PM

Re: Good lease deal for 2011? Please help!
 
Just to clarify what I was talking about in my previous post. I am not a fan of leasing and for more than 30 years have compared what I do (buying) versus what I could have had in a lease; not trying to toot my own horn, but, I always win with purchasing.

In this example I did not check the lease or purchase interest rates, but it's as easy as plugging in the different numbers into an Excel spreadsheet and using the PMT function. I did look at past depreciation schedules and calculated inflationary effects to estimate the lease residual and used sale price on an "E". So, the residual is also an estimate but I forgot to state that on the sheet.

edit: (ERROR IN SPREADSHEET DUE TO FAT FINGERS...FIXING IT SOON)
edit: (fixed sheet --- now with igures from OP)

http://imageshack.us/m/21/8366/buyvs...1jgclaredo.jpg


All times are GMT -5. The time now is 09:57 AM.

Powered by vBulletin® Version 3.8.8 Beta 4
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
Copyright 2012 - JeepGarage.Org
The Jeep Grand Cherokee Owners Community