Should I stay or should I go?

[Alpine Warthog]

I thought leases told you what the buy out is on a lease before you even take it off the lot? I had no idea you could negotiate that either.

I know dealerships haggle with the Leasing companies on the dealership's purchase price of a leased vehicle at turn-in time, the lease company won't even sell to dealers at certain times.

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[TheDerb]

First, I think you would be absolutely bat-crap crazy to put $60k into a Gladiator Sport. If you buy it out and sell it, you aren't going to make some magical amount of money from a private seller- private buyers who have $30k+ to spend are going to head over to the countless dealerships that have units that have been sitting on the lots for 6+ months and score a Rubicon or higher optioned example for not much more than you are selling a low-optioned sport for.

Second, nobody is spending $60k new on Gladiators today unless they are somehow completely oblivious to the fact that you can drive away with a brand new, fully optioned Rubicon for $52k out the door.

I'd definitely wash my hands of that situation, OP.

 

[MPMB]

A Sport w/ limited options was in the low $40k range in 2020-21. If your lease payments have totaled $23k (is that including down/initial payment?) over 4 years, when compared to a finance situation, that would leave around $25k left on the loan. If residual/buyout amount is $30k, the dealer is "making" another $5k off the sale.

Looking online, used Sports w/ <20k miles are listed at $33k-$35k for stock, $35k+ for upgrades. What they actually sell for is known only to the dealer network, but it looks like they would not be going any lower than $30k.

If you don't love it, walk.

 

[bleda2002]

I agree with the above, turn it in and move on. 30k is a lot for a low optioned sport, especially if it's something you are getting tired of.

 

[High Alextude]

Can you change it back to stock form, keep the parts and install them on another Jeep?

 

[Erievon]

Strip it, turn it in, and take advantage of the deep discounts going on right now. A lot of your parts will transfer over to your new Rubi or Mojave quite nicely ;-). The lease company doesn't want your mods, and may even charge you for having them on there instead of stock parts.

 

[Erievon]

Or, if you just don't think you want another one, can at least sell some of the mods for cash.

 

[BearDog]

I've never leased a vehicle. Seems counterproductive to me. If by some hellish chance I did, I would definitely NOT put money into it in aftermarket parts.

That said, I agree with the others. Talk to the lease company about a lower number first. They may not want it at all. If they will not budge, it's either buy it at their price, strip it and put the parts on a new one, or let them have all the extra money you put into it.

 

[Guns_N_Rosaries]

I used to work for a 3rd party leasing return company, and I'd recommend never putting any add-ons to a lease vehicle. You're just throwing that money away. I've seen it where dealerships charge customers for these add-ons saying that they decrease the value because the vehicle is no longer stock, and then turning around and selling it with a mark up due to those add-ons.

Best case scenario is that they take it as is and don't say anything, and then still make money off of you when they resell it. You basically just gave them $10k for free.

 

[Mad Mac]

The money spent for a lease and upgrades are sunk costs.
The question is if there is $30,000 cash on the table or the Gladiator,
which would a person choose.
Entirely a personal choice with many facets.

One further consideration is that buying out the lease
allows the decision to be deferred to a time of your choosing.

I mean, how many Gladiators equipped like this one
are available under $30,000?
Can't lose either way.

Nice looking rig.

 

[Mad Mac]

In defense of the OP:

He did say that he intended to keep it when he got the upgrades.

He has not said that he intends to replace it with another Gladiator.

What he does not like about it would be the same for a new Gladiator.

I think he has scratched his itch.

Subaru, anyone?

 

[Pescado]

I've leased a lot of vehicles including my 2020 Overland which I just bought out. I will say that there is absolutely no negotiating the buyout price of a vehicle.

 

[GeneralMaximus]

Thats a low mile gladiator with tastefully done mods. And, they dont make that color anymore. I think you can sell it no problem, for more than $30k.

 

[jac04]

What he does not like about it would be the same for a new Gladiator.

The OP said he doesn't like the ride. The Mojave fixes this problem.

Back in 2021, I test drove a Rubicon because the dealer didn't have a Mojave on the lot. I figured I could live with the ride of the Rubicon. So, I ordered a Mojave just the way I wanted it, and I was pleasantly surprised when I got it. The ride is magical (IMO) compared to the Rubicon.

 

[Dickster]

Like said by others. You are out 23k already, you will never get back because it was a lease. I would buy it and if I decided not to keep it i will at least get some of the 23k back. Even a fast sell $43k pay back the 30k and still have 13k to move to another vehicle.

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