End of lease options advice keep mine or go new?

[Yellow1098]

So I was wondering if you guys had any advice or awesome dealers in central floridaish area that could help me with buying out my lease Or possibly leasing a new one.
I love my gladiator and want to stay in one….but buying mine might be the best option to keep my payments the lowest I can. They do have the 15% below msrp special right now also and I should have some equity in mine. Here’s my situation.

2020 Sport S 39,200 well below my 42,000 limit.
current payments are $470 a month and at the time I only put 2k down.
the buyout price is $32,000 after tax and fees the total is $36,000
lease term ending in January

its a nice sport S with bed sprayed and a leveling kit with 35’s and sunrider as well as a cold weather package

what would you guys do? Do you have a great dealer that would give me good options? with the deals right now and the equity I have would it smarter to use that and get a new one? Any advice would be great! Thank you!

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[ShrimpHappens]

Just went through the same with mine.

Since trade-in values are down, interest rates are up, and my Glad has been problem-free, I bought it (financed w/ credit union).

Sure there are some options mine doesn't have that I'd like to have, but the juice ain't worth the squeeze at 6% interest on at least $10k more financed.

I also had to honestly answer the question: do I really need a Max Tow, Rubi, or Mojave? No.

 

[Yellow1098]

Very very true….plus I haven’t seen any for 32k with less than 40k miles

i was thinking that 15% off deal right now make make a difference but my dealers all act dumb

 

[sharpsicle]

i was thinking that 15% off deal right now make make a difference but my dealers all act dumb

What does this mean? What's dumb about it/them?

 

[Yellow1098]

They act like they haven’t heard about it and just don’t work with me on my options….the just tell me there inventory and write up generic offers….they just don’t work with the details I guess…. Plus they want me to “come in“ to discuss deals

 

[sharpsicle]

They act like they haven’t heard about it and just don’t work with me on my options….the just tell me there inventory and write up generic offers….they just don’t work with the details I guess…. Plus they want me to “come in“ to discuss deals

Yeah they can play some games like that sometimes, but not gonna lie, it's going to be hard to size up your options if you're not willing to discuss things with a dealer for a new purchase. And that's a two way street, which means if you've just given up on your end then it's effectively a dead conversation. Not saying dealers are pleasant experiences, but you need to communicate with them and make your intentions clear. I really doubt a dealer wouldn't want to make a sale, especially with how slow things are currently. You need to keep communicating and negotiating, and if you don't like something you need to be firm and clear with them about it.

If you're set on avoiding dealing with a dealer, then buyout is really your only option left on the table.

 

[cranbiz]

I only looked at Tri City Jeep and Koons Jeep but you can get either a 2023 Willys or a 2023 Sport S for $42-43K. Koons has a Willys for $41.5K and a High Altitude for $42.2K. These are the only 2 dealers I looked at.

For S&G's, I just looked at Seminole Jeep, They have a Sport S with the hard top and bedliner for $37K. You might not qualify for every incentive but it looks like you can get most of them. This one makes a lot of sense to buy instead of buying out your current lease if you can get close to the advertised price and incentives.

You might find a Sport for a bit less.

My opinion, for what it's worth, I would spend the $8-10K for a new one with new factory warranty than finance a 4 year old vehicle with no warranty. Yes, you know your truck and how it's been treated, but it still is used with 32K miles and no warranty now. Used car finance rates are higher than new car rates. Either way, you will get boned on the finance rate but you will get a better rate on a new vehicle.

Can you put your current truck back to stock?

 

[Yellow1098]

Thanks guys….I have no problem calling those dealers even tho they are out of my state…yes I can put my truck back to stock thats no problem.I might even have some trade in equity in mine

 

[Mr._Bill]

What equity? It's a lease, you have been paying rent on it. If the trade-in value is higher than the buy-out, then a good dealer can use that to help you with financing. Otherwise, you're better off to just turn it back and make a deal with one of the discount dealers.

 

[Yellow1098]

yes that’s what I meant the trade in value is 2500-3000 more than the buy out number

a good dealer tough around here

 

[Mr._Bill]

You will have to go talk to the local dealers and see what they will do for you, and then compare that to the price from the discount dealers. It's not likely to work out very much in your favor, but it might. You could always try buying it out and selling it yourself, but that will depend on the local market, your finances, and how much time you have available.

 

[cranbiz]

I would run up I4 and at least talk to Seminole on the Sport S for $37.2K. It might be a waste of time but they are close to you and it might work out.

Nothing says you have to buy from them.

 

[Yellow1098]

Which dealer is Seminole? There are a few around here with that in there name

 

[Glizzynator52]

Try going south if you’re looking.
Arrigo and Wallace are both doing some good things with prices atm.

 

[cranbiz]

Which dealer is Seminole? There are a few around here with that in there name

Chrysler Dodge Jeep Ram of Seminole County in Sanford. Just off of I4 next to Towne Center Mall.

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