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Leasing - educate me. What’s the Pro’s & Con’s?

wvuviv30

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I’m curious about leasing a Gladiator. I’ve always financed my vehicles, but I often trade it in after 3 years. I’m seeing the 3 year/12-15k mleasing rates at 1/2-2/3rds the Financed rates (against a 72m loan).

Say after 3 years and I absolutely LOVE it, what happens? How much would it cost me to “purchase” the vehicle?

Can you modify a Lease? Something simple like a lift and larger tires.

I’m sure I’ll have more questions as the thread develops, but let me know how leasing works and the Pro’s & Con’s.
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Uscolt45

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Search is your friend. Lots of posts with some excellent breakdowns.
 

RobertRinAustin

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I’m curious about leasing a Gladiator. I’ve always financed my vehicles, but I often trade it in after 3 years. I’m seeing the 3 year/12-15k mleasing rates at 1/2-2/3rds the Financed rates (against a 72m loan).

Say after 3 years and I absolutely LOVE it, what happens? How much would it cost me to “purchase” the vehicle?

Can you modify a Lease? Something simple like a lift and larger tires.

I’m sure I’ll have more questions as the thread develops, but let me know how leasing works and the Pro’s & Con’s.
You can buy your Glad at the end of the lease. This amount is stated in your lease.

You can modify a leased vehicle, but will need to return it in stock trim.

Check out the forum on leasehackr.com. Tons of good info and answers to most of the questions you may have.
 

Sawburner

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I lease. It will state in your lease what it would cost to buy at the end. It will also say waht you can do to your jeep. Mine states that I can modify it as long as it does not lessen the value. The banks in my area do leases too, so check your banks you dont have to lease from Jeep, shop for the best deal. If you go over the mileage or there is some minor damage (paint scratch) at the end, if you lease again they will often over look it.
 

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Ask yourself a simple question...do I enjoy driving a stock Jeep for 39 months while people constantly tell me it looks funny with small tires and no lift? There’s your answer to leasing a Jeep.
 

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wvuviv30

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Ask yourself a simple question...do I enjoy driving a stock Jeep for 39 months while people constantly tell me it looks funny with small tires and no lift? There’s your answer to leasing a Jeep.
I am looking at a Mojave or Rubicon.

I hold onto factory parts and put them back on when trading it in, so there is no difference there. I
 

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Ask yourself a simple question...do I enjoy driving a stock Jeep for 39 months while people constantly tell me it looks funny with small tires and no lift? There’s your answer to leasing a Jeep.
My leased JT with 2” lift and 37s...

Jeep Gladiator Leasing - educate me.  What’s the Pro’s & Con’s? 8BABFF8B-7954-43A0-9F4A-D2098E8F41E8
 
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wvuviv30

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So what I don't understand is how are the values calculated?
I've tried playing with some of the online calculators and I'm getting anywhere from $450 to $880 monthly payment.

I'm looking at a Mojave with the MSRP of $58k.
 

Professor_Chaos

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So what I don't understand is how are the values calculated?
I've tried playing with some of the online calculators and I'm getting anywhere from $450 to $880 monthly payment.

I'm looking at a Mojave with the MSRP of $58k.
I've not leased but what I understand is you agree upon the cost today and the value at the end of the lease term.

What you pay is the difference plus fees, etc...

So plenty of room for manipulation there. The miles per year affect end of lease value so that changes things as well.

I imagine the monthly payment changes with the terms.
 

AZJT

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So what I don't understand is how are the values calculated?
I've tried playing with some of the online calculators and I'm getting anywhere from $450 to $880 monthly payment.

I'm looking at a Mojave with the MSRP of $58k.
You can "play with" online calculators all you want - the final details will be worked out, and included, when you go in and work the deal with the dealer you end up choosing. Yes, some dealers are allowing you to do most, or all of that, online now. You know the routine - there are tons of positive and negative comments of dealing with dealerships, but the final #s will be specific to your vehicle, dealership, lender, APR%, down payment, available programs/rebates you qualify for that are available in your area, etc.

I quit leasing years ago - my main thing is they give you a limited miles per year, and I hated having to do the math after a while. Also, prepare (as others have said) to either return it stock at the end of the lease, OR mentally prepare yourself to not realize the value of your mods upon returning it.
 

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RobertRinAustin

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So what I don't understand is how are the values calculated?
I've tried playing with some of the online calculators and I'm getting anywhere from $450 to $880 monthly payment.

I'm looking at a Mojave with the MSRP of $58k.
Lease is based on a few things, selling price, money factor and residual value.

Selling price is negotiated just like with a purchase.

Money Factor (MF) is the interest rate. Banks/ finance companies offer a base rate which the dealer can mark. Can be negotiated to base rate. You can also pay multiple security deposits which are returned to you at the end of the lease to drop the base rate even lower. Different finance companies offer different money factors.

Residual Value (RV) is set by the finance company and is given as a percentage. It's the expected value at the lease term. It is non-negotiable. The RV is impacted by the miles per year, years of lease and the model. RV differs between the Rubicon, Willys, Sport... It may also vary quite a bit between leasing companies.

Low selling price, low MF, high RV means low lease payment.
 

garzilla

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Money factor through chrysler is high right now. 6.3% + for tier 1.
 
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wvuviv30

wvuviv30

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Money factor through chrysler is high right now. 6.3% + for tier 1.
Are there other banks/lenders that do leases outside of Chrysler?
 

SteveInOrlando

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Are there other banks/lenders that do leases outside of Chrysler?
The Lease through your dealership has a 90+ percent chance it isn't financed by Chrysler Credit.

Shop the lease around. Seriously! Run the Calculator on the Jeep site. If the dealer isn't very close to that, they are ripping you off.

When I was shopping mine around, with the same down payment, term, MSRP, and Residual value; the monthly payments varied by over $200. A lot of the dealers were trying to add on processing fees and other extra crap. Don't let them. If they try that, walk away. Seriously, walk away!

If you watch the TV commercials, you can ID the bad actor dealers in your town. They have the most TV commercials and promise the best deal no matter what. I still gave them a chance, but their pricing was exactly where I new it would be. Their monthly payment was the highest!

I did do a paint protectant as a dealer add on, but it came with a warranty on paint. I live in Florida where sun and salt kill paint. I paid cash for the paint protectant and didn't let it roll into the deal. Remember, anything considered beyond normal wear you have to pay to repair at the end of the lease.

When lease shopping, always walk away and get pricing at other dealers. The deal will still be there no matter what that salesman or sales manager is telling you.
 

HuskerMojave

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I just leased my Mojave 2 weeks ago. The dealer I went through said they get the best rates through US Bank on the Gladiators. Mine stickered at $52k the buy out will be 28 at the end. We went longer than usual and did 48 months. With $3k down and it’s $510 a month.
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