Article: top price premiums paid for new vehicles -- JT is 4th on list

[AmosMoses01]

https://247wallst.com/autos/2021/11/16/wrangler-is-the-car-that-dealers-overcharge-for-the-most/

JL takes first price, JT is fourth place. Interesting times.

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[WXman]

So people coming off lease soon with JTs will be able to smile all the way to the bank.

 

[PsyRN]

So people coming off lease soon with JTs will be able to smile all the way to the bank.

I've got about a year left. I've been wondering if I should look into replacing the lease with regular financing. Or do I need to wait till the lease is up? Do I need to keep praying the chip shortage continues to keep prices up? I think the residual I was given was around $36K. MSRP was $55K, and I got it for $48K.

 

[spectre6000]

Posted a thread about the same article. It's profiteering.

 

[WXman]

I've got about a year left. I've been wondering if I should look into replacing the lease with regular financing. Or do I need to wait till the lease is up? Do I need to keep praying the chip shortage continues to keep prices up? I think the residual I was given was around $36K. MSRP was $55K, and I got it for $48K.

What is your end goal? Keep your Jeep? Or trade for another vehicle?

 

[AmosMoses01]

I've got about a year left. I've been wondering if I should look into replacing the lease with regular financing. Or do I need to wait till the lease is up? Do I need to keep praying the chip shortage continues to keep prices up? I think the residual I was given was around $36K. MSRP was $55K, and I got it for $48K.

This article is the closest to accurate on new silicon fab construction timeframes as I've seen. https://arstechnica.com/gadgets/2021/11/why-the-chip-shortage-drags-on-and-on-and-on/

Now, whether the chip shortages continue to drive prices up or some other unanticipated or unexpected consequences manifest remain to be seen. I've been living the chip shortage nightmare since April, and can say that near term (next six months) looks bad and getting worse. The auto industry got some political help (for fab allocation shifts), so there are projected automotive part availability improvements, for some suppliers, but not all.

 

[PsyRN]

What is your end goal? Keep your Jeep? Or trade for another vehicle?

I want to keep it.

 

[j.o.y.ride]

So people coming off lease soon with JTs will be able to smile all the way to the bank.

If they privately resell or negotiate with the buyout. If they just do the turn in as usual the dealer has all the smiles.

 

[j.o.y.ride]

Posted a thread about the same article. It's profiteering.

it's supply and demand economics

 

[CT_Gladiator]

I want to keep it.

If you want to keep the truck when the lease is up, you should start trying to buy the lease out soon. It took me 3+ months to buyout the lease on my JKU. Now that the vehicle values are so much higher than the residual values, the banks are trying to discourage people from buying the leases out. If you leased through US Bank, I would start the process now. It will be very frustrating but the extra time will help with the stress.

 

[WXman]

I want to keep it.

In that case I'd say go ahead and refinance it as soon as you can find a great interest rate. No need to wait.

I've been in my lease for 5 months. I called to get my payoff on it last week. I could finance mine on a "buy" right now for the same monthly payment as my lease, while simultaneously shaving off at least 2 years of term. But, in my case I'm not sure I want to keep mine forever.

 

[PsyRN]

If you want to keep the truck when the lease is up, you should start trying to buy the lease out soon. It took me 3+ months to buyout the lease on my JKU. Now that the vehicle values are so much higher than the residual values, the banks are trying to discourage people from buying the leases out. If you leased through US Bank, I would start the process now. It will be very frustrating but the extra time will help with the stress.

In that case I'd say go ahead and refinance it as soon as you can find a great interest rate. No need to wait.

I've been in my lease for 5 months. I called to get my payoff on it last week. I could finance mine on a "buy" right now for the same monthly payment as my lease, while simultaneously shaving off at least 2 years of term. But, in my case I'm not sure I want to keep mine forever.

I’ll look into it. I had to finance through the dealership to get the below invoice pricing. I guess I could start with them? Or should I check with my local credit union?

 

[Josh00333]

Start with your local CU.

 

[PDiddy]

I’m surprised the bronco isn’t higher up on the list. We had an MSRP deal in writing and they still tried to add 10k at purchase time. Luckily, they didn’t try very hard. But they only offered MSRP to the first few reservation holders. The rest had 10k markups.

 

[CT_Gladiator]

I’ll look into it. I had to finance through the dealership to get the below invoice pricing. I guess I could start with them? Or should I check with my local credit union?

I got 1.99% financing from my Credit Union on my Gladiator. The dealership didn't even pretend they could come close to that rate. I would start there. I didn't even belong to the credit union before I applied for the loan.

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