9 Months Left on Lease. Buy to Resell or Trade?

[Gobi1Kenobi]

I got a call from my local dealer where I got my '20 JT from. Lease is nearing the end. I am having fun in the JT and had a blast doing the mods, but the wife and I agree that we could use something more spacious/comfortable and more practical for everyday use. We don't rock crawl, nor do we do any trails above a 5. We love weekenderlanding, camping and all that jazz, are thinking about kids in the next few years, and a second dog. I had a GC and it was great but we want that 3rd row for family trips but the GCL is just too cramped.

Question: Given all this, should I just buy my JT at its locked-in pre-covid price then sell it or trade it in and get a Wagoneer?

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[LouisvEarlleJT]

You modded a leased vehicle? (and heavily at that based on the pics)

How does that work? Won't you be super upside down if you swap it for something else?

 

[Gobi1Kenobi]

You modded a leased vehicle? (and heavily at that based on the pics)

How does that work? Won't you be super upside down if you swap it for something else?

I can take most of it off, the only thing that would stay are the wheels/tires and suspension of I were to trade it in.

 

[Mr._Bill]

If you have any trust in your dealer, ask what route will get you the best deal with them on a new vehicle.

Contact several of the places that buy and find out what they will give you for it. If it's enough over the guaranteed buy out amount, then purchase and resell it. That way you avoid all the lease return hassles.

 

[Gobi1Kenobi]

If you have any trust in your dealer, ask what route will get you the best deal with them on a new vehicle.

Contact several of the places that buy and find out what they will give you for it. If it's enough over the guaranteed buy out amount, then purchase and resell it. That way you avoid all the lease return hassles.

Awesome thanks good to know

 

[ZoMojave]

Question: Given all this, should I just buy my JT at its locked-in pre-covid price then sell it or trade it in and get a Wagoneer?

This is exactly what I did with my Ram 1500 lease before my JT. Lease residual (buyout) was a bargain. Then made one bank payment on it and traded it in. Got 20K of equity toward my Glad.

 

[johnparjr]

Be aware a lot of manufacturers are not letting others buy out a lease. So if you’re staying in the stellantis family there is no issue but check and see about the lease buy out somewhere else vs Jeep. We had a Hyundai and we couldn’t sell it anywhere else but Hyundai as we where turned down at another dealer, carvana and carmax

 

[WambliSka]

Check out what Carvana will give you. They give incredible $$s for late model used vehicles. I just sold them my old (excellent condition) 2012 JKU with 70k miles on it for $9,000 more than what ANY dealer offered me for the vehicle. I was getting a 2022 Gladiator and the dealer was dying to get my JKU since their used inventory is so low. When I showed him my Caravan offer (which is FIRM by the way), they just looked at each other and said "take it", we can't get even CLOSE to that.

AND they will figure out all the logistics for you on how to buy it out of the lease or loans. You just do the online work, let them know who holds the lease and payout and you end up with a check in your hands if there is equity in the car and the vehicle goes bye-bye on the back of one of their trucks never to be seen again. The whole process takes about 15 minutes. ZERO risk...

 

[WambliSka]

Be aware a lot of manufacturers are not letting others buy out a lease. So if you’re staying in the stellantis family there is no issue but check and see about the lease buy out somewhere else vs Jeep. We had a Hyundai and we couldn’t sell it anywhere else but Hyundai as we where turned down at another dealer, carvana and carmax

You can solve that problem by buying it out of the lease yourself (they CAN'T stop you from doing that) and then selling it outright to Carvana.

 

[Gobi1Kenobi]

Update: I decided to purchase the vehicle thus ending my lease and my mileage restriction. I went to a 2nd dealer to get a quote on the JT and test drive a Wagoneer. The dealer informed me that Gobi is no longer a color option, which made me appreciate my rig even more as it's now a unicorn especially with a color matched hard top.

After coming back from the Wagoneer test drive I saw a crowd of Jeep employees walking around my rig and talking about it. We then just started nerding out about all the mods and personalized touches we add to our rigs to make them uniquely ours.

Wife and I decided to get Thai food and talk about this whole process and no lie I then started to choke up at the the thought of selling/trading the JT.

While a large off road SUV is on our wishlist (especially since we're thinking about kids and a 2nd dog), there's something very special about "that first Jeep".

So in the end we decided to keep the JT.

"Why not have both? Pay off the JT and then we'll look at a Wagoneer" -Wifey

I'll remind you of that conversation in the near future, honey...

 

[Wet Willys]

I'm nearing the same scenario, I'm in the last year of my lease on my '21 Willys that I've done quite a few (reversible) mods to. My intentions have been to just buy out the lease and keep it which will cost me about $32k. That little voice in my head has been whispering "you should have gotten the Mojave or Rubicon" lately, which is no surprise since I have severe ADD with cars. I've shopped around for the last few weeks and even visited a dealership. The trade value I've been offered is offensive, but not surprising, I know the post covid-inflated market for used cars is just about over. My biggest surprise is how terrible finance rates are and how impossible it is to get even close to the deal I got on my Willys in Dec 2020. The same truck I've driving now would cost me at least $300/month more than what I'm paying. It looks like I'll be sticking with what I've got.

 

[ShrimpHappens]

My biggest surprise is how terrible finance rates are and how impossible it is to get even close to the deal I got on my Willys in Dec 2020. The same truck I've driving now would cost me at least $300/month more than what I'm paying. It looks like I'll be sticking with what I've got.

Same boat here. My lease runs out in a few months, and I couldn't afford to buy my Sport S again, much less upgrade to a Rubi or Mojave, so looks like I'm gonna buy it and stick with it.

 

[CJ5w4wdSmokyOnMyTail]

Update: I decided to purchase the vehicle thus ending my lease and my mileage restriction. I went to a 2nd dealer to get a quote on the JT and test drive a Wagoneer. The dealer informed me that Gobi is no longer a color option, which made me appreciate my rig even more as it's now a unicorn especially with a color matched hard top.

After coming back from the Wagoneer test drive I saw a crowd of Jeep employees walking around my rig and talking about it. We then just started nerding out about all the mods and personalized touches we add to our rigs to make them uniquely ours.

Wife and I decided to get Thai food and talk about this whole process and no lie I then started to choke up at the the thought of selling/trading the JT.

While a large off road SUV is on our wishlist (especially since we're thinking about kids and a 2nd dog), there's something very special about "that first Jeep".

So in the end we decided to keep the JT.

"Why not have both? Pay off the JT and then we'll look at a Wagoneer" -Wifey

I'll remind you of that conversation in the near future, honey...

I've owned a few Jeeps in my life (CJs and XJs). I regret selling every one of them and wish I could have them back. Never felt that way about the Ford trucks I've owned or the other SUVs I've owned. Many of those were nice vehicles, but I don't pine for them. But I do regret not having my old Jeeps. So my JT will never be for sale. I will have other vehicles in the coming years, but I will also have my JT.

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