I'm looking at leasing a 2014 Grande Cherokee Limited and was looking for feedback on the deal. Any guidance would be greatly appreciated.
- MSRP - $38,790 (includes destination charge of $995)
- Capitalized Cost Reduction (what they took off the MSRP) - $1,461
- Adjusted capitalized cost - $37,329 (they said this is $95 over invoice)
- Lease inception amount ($1,200 that includes first payment, interest, taxes, etc.)
- 39 months
- Residual Value - $20,559
- Money Factor - .00070 (or 1.68%)
- 12,000 miles per year (cost after 12,000 miles - .25 cent)
- Sales tax is 7%
- Gap Insurance Included
- Disposal (Disposition) fee of $395
- Close End Lease
- Monthly payment with tax - $504
- I am not trading any car in
- They are providing free oil change and tire rotation for the two years, theft protection (entire lease) and dent repair (entire lease)
Since I have leased before, i know the lease paper work will not represent above and its not easy to back it out. The dealership as keeps focusing on the monthly payment.
Thank you.
Shawn