The Grand Cherokee 4WD Laredo looks like a great truck to lease right now. Just look at the low MF and the decent residual value. The Wrangler looks pretty darn good too. Overall, US Bank is doing a great job making these rides lease-friendly. See below for some calculations on the JGC Laredo and the Wranger.
If you haven’t leased with US Bank before, rest assured that they are like any other bank. Bank fees and disposition fees are standard. Turn-in inspection is also done by a 3rd party. I leased a Mazda3 back in 2004 for about 4 years. I didn’t turn it in or get it inspected, instead, I sold it as a trade-in to get my G37 back in 2008. They were very realistic with the residual value, so when I traded in the car, I almost broke even. The only reason I didn’t was because I had gotten into a pretty bad accident on the Mazda3 it’s value was diminished severely.
Here is a sample calculation based on TrueCar’s Southern California sale price and do not include local taxes. Please note that your dealer calculations may vary due to local fees/taxes.
2011 Jeep Grand Cherokee Laredo 4WD
MSRP – $33,265
Sale Price – $30,526
Monthly – $394+ tax
RWG Rating – 85.7
2011 Jeep Wrangler 4WD 2dr Conv Sport
MSRP – $27,700
Sale Price – $25,452
Monthly – $293+ tax
RWG Rating -92.7
For Dealer Quotes, CLICK HERE.
2011 Jeep Grand Cherokee 4WD 4dr Laredo (US Bank)
36-month | 15k miles | residual 50% | .00018 base money factor
2011 Jeep Grand Cherokee 4WD 4dr Overland (US Bank)
36-month | 15k miles | residual 45% | .00059 base money factor
2011 Jeep Wrangler 4WD 2dr Conv Sport (US Bank)
36-month | 15k miles | residual 54% | .00005 base money factor
2011 Jeep Patriot 4WD 4dr Sport (US Bank)
36-month | 15k miles | residual 44% | .00035 base money factor
2011 Jeep Compass 4WD 4dr Base (US Bank)
36-month | 15k miles | residual 44% | .00014 base money factor
Do we have the Limited numbers? Are they same as the Laredo (hopefully)?
Hey Brian: Just a heads up, you can option out a Laredo or Laredo X with nearly all or all the equipment of a Limited or Overland. That might be an idea given the comparatively poor rates.
I’m looking hard at this truck and this is what I’m considering. Good luck.
G:
Where the 39mth rates available? Thanks a ton!
What you see is what I got. You may have to speak with your dealer about US Bank’s 39-month lease rates and about the Limited model. I expect the residual value to be lower though.
Were the numbers on the Grand Cherokee above for the V6 model or the V8?
@warren. I believe it’s the V6, but I’m not sure they differentiate it.
Hey G,
I had a few posts in the June blog but I sat on the sidelines until the 2012 arrived. I went back to dealer and negotiated the 2011 Jeep Grand Cherokee X pkg with navigation:
$2000 Out of pocket–tax and 1st pmt included for 39 months
$390/ month out the door
Much better than my $435/ month for 39 months with $2500 OOP two months ago… Thanks for your help. BTW if anyone lives in the NJ area and is looking for this car, let me know and I can put yu in contact with my guy. @G– thanks for all your help, I thought I knew the car biz pretty well but with your assistance I was able to get a better deal.
Anyone gotten detailed numbers for October? No one wants to shoot straight up front at the dealerships for these.
I just leased a Grand Cherokee 4×4 Laredo with 26X package, Navi, and Sunroof for $390 a month 0 down. The only other fee was the bank fee from Ally bank ($895). He wouldn’t break out the $390 but I know the interest rate is .4% and residual @ 54%. I hope it was a good deal.
that $390 is including tax as well
@matt. I think that’s a pretty good deal. 0.4% is a very low MF plus the Residual is within a decent range. I’m guessing you also got a hefty discount of nearly 10% in order to pull this off. Good job on the deal. I really like the GC. Probably one of my favorite 5-passenger premium SUVs.
G, also looking at laredo X 4WD. ive been quoted $2495 upfront ,
$389 x 36 months and 10, 000 miles per year (PLUS TAX and FEES.
bank fee of $895.00, DMV fees of $292. also capital cost reduction of $2495.00 plus tax. Rebate of $1500.00 plus tax. Money factor, interest rate .25%,
Thoughts ?
@kevin. Wow. that’s a lot of cap cost reduction. That means that your payments would be $89 bucks more every month without your cash ($2500 cap cost / $29 per month for every $1000 borrowed = $89 per month; ouch ). That a crap load of money. The $1500 pretty much covers your inception fees so the bank is pretty much paying for that. The MF is good at .25%. Residual shouldn’t be too horrible either, but I’m guessing your sale price is not really good.
My thoughts? LOTS of negotiating to be done still. Unless this ride’s is $50k (which I know is not), I wouldn’t pay this price, specially for only 10k miles per year.
Hi G,
I’m looking to lease a 4X4 Grand Cherokee Overland. Since the 2013 model is coming out very soon, I was thinking of waiting for it and when it’s out, I go and lease a 2012 model. I’ve heard when a new model comes out, the price fpr the old one will drop. Is that right??
But the problem is the dealership sent me this email:
“once the 2013s arrive, we will no longer be able to lease a 2012 and you will be paying a premium for a 2013 on a lease. When the 2013s arrive, the banks do not like to lease the 2012s because the residual drops too much. The premium on the 2013 is that I will not be able to give you such a large discount. Also there are not going to be any rebates on the 2013s in the beginning.”
This doesn’t make sense to me. Do you think he is right or he is trying to sell his 2012 model to me??
Thanks,
Hessam
Hessan, that’s actually not that unusual. Once 2012 inventory starts to deplete, lease support usually gets yanked and banks prefer customers to buy them instead of leasing them. Its not that you can’t lease a 2012, its more like you will pay a premium to do so and it wouldn’t be worth it. Meanwhile the 2013 will probably not get discounted enough for you to get a good deal on them. I recommend waiting until the holidays if you can do so.
Hey G. Thanks for the quick response. I need to get the car by end of August since I’m giving my current car to my brother. In this case you think if I have the following options:
1- Get a 2012 model right now
2- Wait until the 2013 model comes out and then lease a 2012 model
3- Wait until the 2013 model comes out and then new model
Still the last one is the best option and I will end up paying less than other two options?? Or since at the beginning, the 2013 model doesn’t have any rebates, the prices are too high to lease one.
How much do you think I can save if I wait more (for example till the holidays as you said)?? If the saving is very high, I can think about that.
I think you will end up paying less by waiting untl Nov since there is usually cash incentives given out during Nov/Dec, usually the money is significant (maybe a grand or two). If you can’t wait, I would check to see if another bank (i.e. US Bank) is willing to finance a lease on a 2012. Then I would compare that to leasing a 2013. Then see how those quotes compare with Ally or whever Chrysler uses for leasing.
If the money difference is so much, I will probably wait till Nov. Thanks for the tip.