Buy out 2018 Sahara after lease?

[omi205]

Just leased a used 2018 Sahara on 10/30/2019 (150miles at contract signing). The dealership ended up titling the vehicle on 02/10/2019 (invoice date) so that they could sell it as used.

Model: 2018 Sahara Unlimited (manufactured 10/2018)
MSRP (Sticker): $45,550
Sale Price: $39,800
Down: $0
Trade-In: -$2,000
Miles: 150
Lease Term: 51 month
Mileage allowance: 10k/year
Monthly rate: $585
Buyout at end of term: $23,600
Factory bumper to bumper: 3years/36month (started on invoice date 02/10/2019)
Certified Pre-Owned Warranty: 7year/100k miles on powertrain

Thoughts?

Sponsored

 

[Gellie]

Assuming you put zero down, after buyout you would be all in @ $56K. Pretty bad deal. You lease seems too high. What MF did they use?

 

[omi205]

Assuming you put zero down, after buyout you would be all in @ $56K. Pretty bad deal. You lease seems too high. What MF did they use?

That's exactly what I was thinking. Not much I can do about it now. Ill refrain from making any changes to vehicle in that case as it would not make sense to buy it.

 

[Warz2k4]

Tbh, don’t think you should have leased a Wrangler because they retain high residuals.

I would try to get out of the lease and order a customized 2020

 

[Rolling Ragu]

You may be able to break the lease, pay the penalty and purchase new for less overall cost.

 

[omi205]

You may be able to break the lease, pay the penalty and purchase new for less overall cost.

Thanks. I will look into this.

 

[omi205]

Tbh, don’t think you should have leased a Wrangler because they retain high residuals.

I would try to get out of the lease and order a customized 2020

This is what I want to do now. I'm learning the hard way unfortunately. Lease breaking options seem pretty limited. Basically trading it in which I will surely take a huge hit.

 

[omi205]

That's for the advice gang. I am going to see what I can do to get out of this sour deal. I feel like if I wait a bit, make a few payments 5-8month, it might bring my buyout value (from the bank) very close to the trade in value as the payments eat away at the initial depreciation. I think my best option with lowest loss would be a trade in deal...which would all come down to the buy out value at the bank. Usually there is a sweat spot shortly after you start a lease where the payments eat up a bit of depreciation. I will also ask about cancelation but it seems this is the worst option of all based on investigation.

I live in SoCal and it seems many have had great luck ordering through...
Courtesy Chrysler Jeep Dodge Ram Of Orange County
Dealer 26941
32881 Camino Capistrano
San Juan Capistrano Ca 92675

Ill have to talk to them after the holidays. Anyway that I can get out of this deal would be good. Knowledge is power. Live and learn. Should have checked these forms before going to the dealer.

 

[Warz2k4]

Alternatively, you can continue with your lease, and wait 3 years.
Saf

That's for the advice gang. I am going to see what I can do to get out of this sour deal. I feel like if I wait a bit, make a few payments 5-8month, it might bring my buyout value (from the bank) very close to the trade in value as the payments eat away at the initial depreciation. I think my best option with lowest loss would be a trade in deal...which would all come down to the buy out value at the bank. Usually there is a sweat spot shortly after you start a lease where the payments eat up a bit of depreciation. I will also ask about cancelation but it seems this is the worst option of all based on investigation.

I live in SoCal and it seems many have had great luck ordering through...
Courtesy Chrysler Jeep Dodge Ram Of Orange County
Dealer 26941
32881 Camino Capistrano
San Juan Capistrano Ca 92675

Ill have to talk to them after the holidays. Anyway that I can get out of this deal would be good. Knowledge is power. Live and learn. Should have checked these forms before going to the dealer.

The facts are

#1. buyout value isn't a deal
#2. Your money factor on the deal seems to be high
#3. Total spent is about $56k from a previous poster

As others have said, try to get out of the lease, post on swap a lease.com and offer incentives to the new owner and view that as a loss. Ex: ($2k cash to the new owner) Aslong as you get this Sahara out of your hands, you should come out on top on a new JL.
You mentioned you're from SoCal, I don't know how high -% invoice deal you can get around the area, but there are resources to find the best dealership for a good deal.

For northeast, we were able to get -8% off invoice, + Allstate bonus drive 250$ rebate.

 

[mmcbeat]

Doesn’t look too good to me. You could have financed $37,800 at 4% for 72 months for about the same monthly cost. Then at the end of 51 months you would have some serious equity in the vehicle. I’m not suggesting a 72 month Jeep loan, just putting things into perspective.

 

[threejeep]

Doesn’t look too good to me. You could have financed $37,800 at 4% for 72 months for about the same monthly cost. Then at the end of 51 months you would have some serious equity in the vehicle. I’m not suggesting a 72 month Jeep loan, just putting things into perspective.

Maybe that is your best option. See what you can get for a refi quote from bank or credit union and buy out the lease now. Good luck.

 

[MacJack]

First wish you well for next week meeting to get out of your lease... In my case, I got a 60 month bank loan on my new Jeep JLR and after I closed on a big deal paid off the loan with in two months. The dealer forgot to put the bank down as lien holder so had a clean title...

 

[omi205]

Maybe that is your best option. See what you can get for a refi quote from bank or credit union and buy out the lease now. Good luck.

Refinance a lease???? Is that even a thing?

 

[TXRubicon]

51 month lease @ 585/month @ 10k/yr?!?!?!?!!?! omg.

 

[Dkretden]

OP,

you just leased a 2-year old, “new” vehicle, sold as “used”

around here, houston, dealers are asking $38k-ish for used 2018’s. You therefore paid 100% of the ASKING price at Houston-based dealers. You likely started thousands too high — even in California.

I can’t speak to the rest of the terms that you received since much of those may be influenced by your personal finances/credit ratings/preferences.

I don’t know how to advise you about this transaction. I will leave that to you to discuss with trusted advisors and not random Texans on the internet. My advice is that you should do a whole lot more advanced research the next time you choose to buy/finance/lease a vehicle. Then, go to a dealership and WALK AWAY after talking to the salesman. Think about it at home, talk to your advisors, research some more. If you like the deal, call the sales person back. If not, move on to something else.

Sponsored