[Cincy TH]

I know I'm in the minority by leasing my Trailhawk but for those that have, did you get the platinum lease plan? I have a 39 month lease so it covers everything the normal 36 month warranty does for those extra three months. It also covers road hazard tire and wheel protection, unlimited exterior dings/dent/scratches, unlimited interior damage protection, road assistance/towing allowances, tire rotation and probably some other stuff. It's an extra $27/month. It's a $0 deductible per repair visit. I'm not planning on doing any heavy off roading but I've never leased a vehicle before and I'm not sure what kind of charges I'd incur at the end of the lease for potential damages. I'm thinking it's not worth it but I have until Monday to let the dealer know. Any thoughts?
Thanks!

 

[macfan]

I know I'm in the minority by leasing my Trailhawk but for those that have, did you get the platinum lease plan? I have a 39 month lease so it covers everything the normal 36 month warranty does for those extra three months. It also covers road hazard tire and wheel protection, unlimited exterior dings/dent/scratches, unlimited interior damage protection, road assistance/towing allowances, tire rotation and probably some other stuff. It's an extra $27/month. It's a $0 deductible per repair visit. I'm not planning on doing any heavy off roading but I've never leased a vehicle before and I'm not sure what kind of charges I'd incur at the end of the lease for potential damages. I'm thinking it's not worth it but I have until Monday to let the dealer know. Any thoughts?
Thanks!

I leased my loaded Cherokee Limited through Chrysler Capital (39 months) and turned down the extras package. Chrysler Financial (Ally) is the only company that is picky about lease return. The way I looked at it is that if I needed one of those repairs before I returned my lease I could get the repair done cheaper through a third party. There is a lot of profit and sales person bonuses in those extras packages/warranties.

 

[willk]

What were your lease terms (down, payment, residual)? I am also considering a lease.

 

[macfan]

What were your lease terms (down, payment, residual)? I am also considering a lease.

I have the paper work all put away and some of that is personal information From memory the monthly lease payment on a 39 month lease on a very close to $40,000 Cherokee was $400 and change. Buy out at end of lease was $20,000 and change. The lease values are all over the map with the Cherokee being new and everyone doing a best guess as to how well the Cherokee is going to hold its value. It is best to shop around. The only negative thing I have heard about leasing is that Chrysler Financial is being hard to deal with on lease turn ins right now. That might have something to do with Chrysler Capital being Chrysler's new financing partner and Chrysler Financial more or less being kicked to the curb.

 

[macfan]

To continue: Putting money down on a lease is a good way to loose money if you would happen to total the car. Most leases do require the first month's lease payment up front though. Lease companies now self insure for gap coverage so you don't need to even buy that anymore for a lease.

 

[willk]

Thanks. I usually end up only keeping my cars for a few years so leasing (if the terms are good) makes sense to me (not out all the sales tax). It is easy to get out of a lease early trading in or selling to Carmax. I always think the latest car is going to be the one I keep long term but then something new comes along (such as the Cherokee).

 

[jimmy]

good tip on not putting more than you need to down on a lease, best to keep it minimal to cut your losses if thats the case. getting your money back is always an issue.

 

[Cincy TH]

I leased my loaded Cherokee Limited through Chrysler Capital (39 months) and turned down the extras package. Chrysler Financial (Ally) is the only company that is picky about lease return. The way I looked at it is that if I needed one of those repairs before I returned my lease I could get the repair done cheaper through a third party. There is a lot of profit and sales person bonuses in those extras packages/warranties.

Cool, thanks for the reply. Appreciate your perspective.

Re: willk's question, I leased a V6 Trailhawk with tow, Nav, leather, comfort, cold weather and hood decal for a purchase price of $35,230 (sticker was $37,210) plus $1,059 in taxes less a $2,000 trade in. Residual value of $19,721 at the end of the 39 month lease (12k miles per year). I think the money factor was .0006 making the monthly payments $430. I went through the affiliate pricing program and the dealer paid the first lease payment and offers free oil changes.