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Is this a good deal?

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Maybe-Baybe
My Sunshine

Member since 7/12

3415 total posts

Name:
My only Sunshine

Is this a good deal?

A lease for a 2014 Jeep Grand Cherokee Limited 4x4

$3,000 down including tax, title, license fees

$387 per month


ETA: 10,000 miles per year

Additional question: Since the 2015s are coming out soon, should we wait? I'm assuming the price for the 2014s will drop, right?

Message edited 7/31/2014 10:20:52 PM.

Posted 7/31/14 10:19 PM
 
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Kitten1929
LIF Adult

Member since 1/13

6040 total posts

Name:

Is this a good deal?

I leased mine in 2013 and pay less and put nothing down and have 12k miles per year. But mine isn't Limited. I'd push for more miles.

Posted 7/31/14 10:30 PM
 

MrsM84
LIF Adult

Member since 2/13

2352 total posts

Name:

Is this a good deal?

Doesn't sound like a good deal to me for 2 main reasons. Putting money down to lease a car doesn't make sense (financing is a different story) and $3K down payment is a lot and 10,000 miles a year is below average -- most leases include 12K/year.

Posted 7/31/14 10:57 PM
 

MorningCuppaCoffee
Tired!

Member since 12/07

16353 total posts

Name:
Allison

Re: Is this a good deal?

No way.

I don't have the Limited (but could care less about options since it's a lease) and have 15k miles a year, with scratch and dent for way less.

I think I only had to put fees and such down.

I will FM my payment.

Posted 8/1/14 5:42 AM
 

LisaW
Time for me to FLY!

Member since 5/05

13199 total posts

Name:
Did I ever tell you that I hate people?

Re: Is this a good deal?

Edmonds Car Forum

Posted 8/1/14 6:41 AM
 

BabyBoy
is Skylar Elizabeth

Member since 5/05

4181 total posts

Name:
Tom

Is this a good deal?

DW works in auto industry and can get you an awesome deal. She has awesome contact at Atlantic (not sure where your located). We have 2 months till our lease is up and she is getting into a jeep.

Posted 8/1/14 7:27 AM
 

sunflower804
LIF Zygote

Member since 6/14

44 total posts

Name:
Penny

Re: Is this a good deal?

Posted by MrsM84

Doesn't sound like a good deal to me for 2 main reasons. Putting money down to lease a car doesn't make sense (financing is a different story) and $3K down payment is a lot and 10,000 miles a year is below average -- most leases include 12K/year.



This.

I've leased several cars and I've never had to put money down. Was always advised not to do this. I've had 10K-12K mileage for them.

Posted 8/1/14 8:56 AM
 

LiveForMoments
LIF Adult

Member since 10/10

2418 total posts

Name:

Re: Is this a good deal?

I don't think it's bad as others are saying. Keep in mind the limited is significantly more expensive than the base model. I do think you could find a better deal though, with more miles allowed.

Posted 8/1/14 9:44 AM
 

BriBri2u
L'amore vince sempre

Member since 5/05

9320 total posts

Name:
Mrs. B

Is this a good deal?

We have leased our cars for the last 10 years and we NEVER put any money down...nothing.

I think you can do much better with more miles. Plus, the 2015's will be out soon.

You will be able to get a great deal on the 2014's because they are going to want them out of their stock.

Message edited 8/1/2014 10:13:25 AM.

Posted 8/1/14 10:12 AM
 

BabyBoy
is Skylar Elizabeth

Member since 5/05

4181 total posts

Name:
Tom

Re: Is this a good deal?

Posted by BriBri2u

We have leased our cars for the last 10 years and we NEVER put any money down...nothing.

I think you can do much better with more miles. Plus, the 2015's will be out soon.

You will be able to get a great deal on the 2014's because they are going to want them out of their stock.



When you don't put money down, you are merely rolling into your payments. This is why the price you see on TV is so low. Paying taxes/dmv, some people rather not roll that in. Its a choice.

Posted 8/1/14 10:17 AM
 

Mushpot
LIF Adolescent

Member since 2/06

846 total posts

Name:
Traci

Is this a good deal?

You will definitely get a better deal once the 2015's are out. The incentives for the 2014 will be much better at that time. I don't recommend money down on a lease unless you are rolling payments over and then you're basically just pre-paying the remainder of your lease. That's not really a good deal. And the lowest mlg per year is 12K. What trim level and packages were you getting in this jeep? I work in the Auto Industry and have many contacts.

Posted 8/1/14 11:12 AM
 

angelicd77
LIF Adolescent

Member since 12/13

720 total posts

Name:
Kim

Is this a good deal?

Im in the business and you really cant compare a lease payment to anyone elses. Programs change month to month. Meaning the residual percentages and the money factors (interest rates) change based on the market and what the manufacturer is trying to accomplish. And just because the new model year is out doesnt necessarily mean that they will deeply discount the previous model year. 3K including tax, and DMV isnt bad. Thats almost a 40k truck if I remember correctly from my time at CJDR. It is always recommended not to roll in your tax and DMV because then you are paying interest on it. And the excess only lowers your monthly payment, so you would end up spending that money over the lifespan of the lease anyway.

Posted 8/1/14 11:53 AM
 

Maybe-Baybe
My Sunshine

Member since 7/12

3415 total posts

Name:
My only Sunshine

Re: Is this a good deal?

Posted by angelicd77

Im in the business and you really cant compare a lease payment to anyone elses. Programs change month to month. Meaning the residual percentages and the money factors (interest rates) change based on the market and what the manufacturer is trying to accomplish. And just because the new model year is out doesnt necessarily mean that they will deeply discount the previous model year. 3K including tax, and DMV isnt bad. Thats almost a 40k truck if I remember correctly from my time at CJDR. It is always recommended not to roll in your tax and DMV because then you are paying interest on it. And the excess only lowers your monthly payment, so you would end up spending that money over the lifespan of the lease anyway.



Yeah, the MSRP is 41,000, so it's definitely a pricey car (by my standards anyway.) I guess my main concern is timing. My current lease is up in in November. Should I wait a month or two?

Also, we signed a contract for a lease yesterday, but we don't have the car yet because the dealership has to look around for the one we want. So, is there a way to cancel the current contract? I don't really want to cancel, per se, I want to wait it out a little just in case 2014 prices drastically drop.

Posted 8/1/14 12:36 PM
 

Maybe-Baybe
My Sunshine

Member since 7/12

3415 total posts

Name:
My only Sunshine

Re: Is this a good deal?

Posted by BabyBoy

Posted by BriBri2u

We have leased our cars for the last 10 years and we NEVER put any money down...nothing.

I think you can do much better with more miles. Plus, the 2015's will be out soon.

You will be able to get a great deal on the 2014's because they are going to want them out of their stock.



When you don't put money down, you are merely rolling into your payments. This is why the price you see on TV is so low. Paying taxes/dmv, some people rather not roll that in. Its a choice.




Yeah I thought the same-you're going to end up paying that money anyway, so I rather pay a bigger chunk at the beginning to get my monthly payments lower.

Posted 8/1/14 12:38 PM
 

angelicd77
LIF Adolescent

Member since 12/13

720 total posts

Name:
Kim

Re: Is this a good deal?

Posted by Maybe-Baybe

Posted by angelicd77

Im in the business and you really cant compare a lease payment to anyone elses. Programs change month to month. Meaning the residual percentages and the money factors (interest rates) change based on the market and what the manufacturer is trying to accomplish. And just because the new model year is out doesnt necessarily mean that they will deeply discount the previous model year. 3K including tax, and DMV isnt bad. Thats almost a 40k truck if I remember correctly from my time at CJDR. It is always recommended not to roll in your tax and DMV because then you are paying interest on it. And the excess only lowers your monthly payment, so you would end up spending that money over the lifespan of the lease anyway.



Yeah, the MSRP is 41,000, so it's definitely a pricey car (by my standards anyway.) I guess my main concern is timing. My current lease is up in in November. Should I wait a month or two?

Also, we signed a contract for a lease yesterday, but we don't have the car yet because the dealership has to look around for the one we want. So, is there a way to cancel the current contract? I don't really want to cancel, per se, I want to wait it out a little just in case 2014 prices drastically drop.



All that will happen if you wait is that there will be a lesser amount of payments rolled into your new lease.

what is more concerning to me is: how did you sign a contract for a lease on a car that the dealership doesnt have? contracts are vin specific and i believe there is a 72 hour window in new york to back out of a contract. what dealership did you go to?

Posted 8/1/14 1:23 PM
 

fashiong1rl
LIF Adolescent

Member since 3/14

689 total posts

Name:

Re: Is this a good deal?

Posted by Maybe-Baybe

Posted by angelicd77

Im in the business and you really cant compare a lease payment to anyone elses. Programs change month to month. Meaning the residual percentages and the money factors (interest rates) change based on the market and what the manufacturer is trying to accomplish. And just because the new model year is out doesnt necessarily mean that they will deeply discount the previous model year. 3K including tax, and DMV isnt bad. Thats almost a 40k truck if I remember correctly from my time at CJDR. It is always recommended not to roll in your tax and DMV because then you are paying interest on it. And the excess only lowers your monthly payment, so you would end up spending that money over the lifespan of the lease anyway.



Yeah, the MSRP is 41,000, so it's definitely a pricey car (by my standards anyway.) I guess my main concern is timing. My current lease is up in in November. Should I wait a month or two?

Also, we signed a contract for a lease yesterday, but we don't have the car yet because the dealership has to look around for the one we want. So, is there a way to cancel the current contract? I don't really want to cancel, per se, I want to wait it out a little just in case 2014 prices drastically drop.



i just leased a new car and my current lease wasn't up until october. honda agreed to take over my last few payments.

Posted 8/1/14 1:26 PM
 

Maybe-Baybe
My Sunshine

Member since 7/12

3415 total posts

Name:
My only Sunshine

Re: Is this a good deal?

Posted by BabyBoy

DW works in auto industry and can get you an awesome deal. She has awesome contact at Atlantic (not sure where your located). We have 2 months till our lease is up and she is getting into a jeep.



Can you FM the contact's info to me please?

Posted 8/1/14 1:41 PM
 

Maybe-Baybe
My Sunshine

Member since 7/12

3415 total posts

Name:
My only Sunshine

Re: Is this a good deal?

Posted by angelicd77

Posted by Maybe-Baybe

Posted by angelicd77

Im in the business and you really cant compare a lease payment to anyone elses. Programs change month to month. Meaning the residual percentages and the money factors (interest rates) change based on the market and what the manufacturer is trying to accomplish. And just because the new model year is out doesnt necessarily mean that they will deeply discount the previous model year. 3K including tax, and DMV isnt bad. Thats almost a 40k truck if I remember correctly from my time at CJDR. It is always recommended not to roll in your tax and DMV because then you are paying interest on it. And the excess only lowers your monthly payment, so you would end up spending that money over the lifespan of the lease anyway.



Yeah, the MSRP is 41,000, so it's definitely a pricey car (by my standards anyway.) I guess my main concern is timing. My current lease is up in in November. Should I wait a month or two?

Also, we signed a contract for a lease yesterday, but we don't have the car yet because the dealership has to look around for the one we want. So, is there a way to cancel the current contract? I don't really want to cancel, per se, I want to wait it out a little just in case 2014 prices drastically drop.



All that will happen if you wait is that there will be a lesser amount of payments rolled into your new lease.

what is more concerning to me is: how did you sign a contract for a lease on a car that the dealership doesnt have? contracts are vin specific and i believe there is a 72 hour window in new york to back out of a contract. what dealership did you go to?

.

You have FM.

Posted 8/1/14 1:41 PM
 

Maybe-Baybe
My Sunshine

Member since 7/12

3415 total posts

Name:
My only Sunshine

Re: Is this a good deal?

Posted by fashiong1rl

Posted by Maybe-Baybe

Posted by angelicd77

Im in the business and you really cant compare a lease payment to anyone elses. Programs change month to month. Meaning the residual percentages and the money factors (interest rates) change based on the market and what the manufacturer is trying to accomplish. And just because the new model year is out doesnt necessarily mean that they will deeply discount the previous model year. 3K including tax, and DMV isnt bad. Thats almost a 40k truck if I remember correctly from my time at CJDR. It is always recommended not to roll in your tax and DMV because then you are paying interest on it. And the excess only lowers your monthly payment, so you would end up spending that money over the lifespan of the lease anyway.



Yeah, the MSRP is 41,000, so it's definitely a pricey car (by my standards anyway.) I guess my main concern is timing. My current lease is up in in November. Should I wait a month or two?

Also, we signed a contract for a lease yesterday, but we don't have the car yet because the dealership has to look around for the one we want. So, is there a way to cancel the current contract? I don't really want to cancel, per se, I want to wait it out a little just in case 2014 prices drastically drop.



i just leased a new car and my current lease wasn't up until october. honda agreed to take over my last few payments.



Jeep will take over my payments too. I may want to wait just because 2014 prices will drop.

Posted 8/1/14 1:42 PM
 

angelicd77
LIF Adolescent

Member since 12/13

720 total posts

Name:
Kim

Re: Is this a good deal?

Posted by fashiong1rl

Posted by Maybe-Baybe

Posted by angelicd77

Im in the business and you really cant compare a lease payment to anyone elses. Programs change month to month. Meaning the residual percentages and the money factors (interest rates) change based on the market and what the manufacturer is trying to accomplish. And just because the new model year is out doesnt necessarily mean that they will deeply discount the previous model year. 3K including tax, and DMV isnt bad. Thats almost a 40k truck if I remember correctly from my time at CJDR. It is always recommended not to roll in your tax and DMV because then you are paying interest on it. And the excess only lowers your monthly payment, so you would end up spending that money over the lifespan of the lease anyway.



Yeah, the MSRP is 41,000, so it's definitely a pricey car (by my standards anyway.) I guess my main concern is timing. My current lease is up in in November. Should I wait a month or two?

Also, we signed a contract for a lease yesterday, but we don't have the car yet because the dealership has to look around for the one we want. So, is there a way to cancel the current contract? I don't really want to cancel, per se, I want to wait it out a little just in case 2014 prices drastically drop.



i just leased a new car and my current lease wasn't up until october. honda agreed to take over my last few payments.



i work for acura. i know for certain models they are running a pull ahead program right now for people who are 3 months or less out. if honda has the same program then that was the case. if not, they buried your payments into the cap cost of your new car and its rolled into your payments. the dealerships cant just "take over" payments. they would lose WAY too much money. its only a true pull ahead if its offered by the manufacturer.

Posted 8/1/14 1:43 PM
 

GoodThoughts
Dreams do come true

Member since 2/12

2242 total posts

Name:

Re: Is this a good deal?

Posted by Maybe-Baybe

Posted by BabyBoy

Posted by BriBri2u

We have leased our cars for the last 10 years and we NEVER put any money down...nothing.

I think you can do much better with more miles. Plus, the 2015's will be out soon.

You will be able to get a great deal on the 2014's because they are going to want them out of their stock.



When you don't put money down, you are merely rolling into your payments. This is why the price you see on TV is so low. Paying taxes/dmv, some people rather not roll that in. Its a choice.




Yeah I thought the same-you're going to end up paying that money anyway, so I rather pay a bigger chunk at the beginning to get my monthly payments lower.



Here's why most people don't put money down on a lease: if you get into an accident one month after you lease the car and the car is totaled, you are out the down payment. If you put nothing down, you still have that money.

Posted 8/1/14 2:29 PM
 

jlm2008
LIF Adult

Member since 1/10

4916 total posts

Name:

Re: Is this a good deal?

Posted by sunflower804

Posted by MrsM84

Doesn't sound like a good deal to me for 2 main reasons. Putting money down to lease a car doesn't make sense (financing is a different story) and $3K down payment is a lot and 10,000 miles a year is below average -- most leases include 12K/year.



This.

I've leased several cars and I've never had to put money down. Was always advised not to do this. I've had 10K-12K mileage for them.



Same. Also never had less than 12k in mileage.

Posted 8/1/14 3:08 PM
 

ave1024
I Took The Wrong Road

Member since 12/07

6082 total posts

Name:
That Led To The Wrong Tendencies

Re: Is this a good deal?

All these posts and not one person has asked what the MSRP of the exact car you bought and what was the price you paid for the car. That's how you tell if you got a good deal or not. Money factor and residual are usually set by the manufacturer.

Most Jeeps can be has for UNDER invoice. So the price of the car should be. Few thousand off the MSRP easy.

Message edited 8/1/2014 9:49:24 PM.

Posted 8/1/14 9:48 PM
 

Maybe-Baybe
My Sunshine

Member since 7/12

3415 total posts

Name:
My only Sunshine

Re: Is this a good deal?

Posted by ave1024

All these posts and not one person has asked what the MSRP of the exact car you bought and what was the price you paid for the car. That's how you tell if you got a good deal or not. Money factor and residual are usually set by the manufacturer.

Most Jeeps can be has for UNDER invoice. So the price of the car should be. Few thousand off the MSRP easy.



MSRP is about 41,000 and after rebates it came down to about 38,000 (don't remember exactly)

Posted 8/1/14 10:54 PM
 

IrishEyes
LIF Infant

Member since 6/10

88 total posts

Name:

Re: Is this a good deal?

I just leased a fully loaded jeep limited for 368/month. That's with $0 down and 12K miles.

Posted 8/2/14 2:05 AM
 
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