2021 or wait for 2022. Lease due soon. What's new for 22???

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GGolds

GGolds

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I leased once 22 years ago; never again. I don’t like driving around in a vehicle that ain’t mine.

With social distancing and working from home, I barely drove 2,000 miles in my JL over the last 12 months. If I were leasing this Jeep, it would go back with only 1/4 of the miles I paid for. I’m sure there would be an adjustment in the equity of the vehicle to reflect the low mileage, but whatever money FCA doles out wouldn’t even pay for the tax on the next vehicle.

I used to trade in my Jeeps every 2-3 years, right before the warranty ended. But at this rate, this Jeep is going to have barely 10,000 miles when the three years are up. It would be a waste to trade in a vehicle with such few miles. Especially when it hasn’t given me any problems.

Provided I go back to market by 2025 or 2026, I’ll probably give some sort of hybrid powertrain strong consideration. Hopefully, 4xe had all the bugs worked out by then.

Working from home is a game changer; I have to adjust accordingly.
If you finance or lease the vehicle isn't yours it's the banks. Unless you pay in cash the only real difference between a lease and a finance ( NOT a buy-misnomer), is you pay more now or more later or nothing later. People are fooled thinking they own it when they finance it. Leasing or financing is technically no different.





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aldo98229

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If you finance or lease the vehicle isn't yours it's the banks. Unless you pay in cash the only real difference between a lease and a finance ( NOT a buy-misnomer), is you pay more now or more later or nothing later. People are fooled thinking they own it when they finance it. Leasing or financing is technically no different.
But there’s a big difference, though. When you finance, the bank doesn’t give two hoots if you lift it, put monster tires on it or an ugly grille; FCA does.

Another big difference: when you come to end of your loan, you get your vehicle title; when you get to the end of your lease, you get the boot...
 

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Apologies upfront; I haven't read this thread.

One of the (financial) benefits is the excellent resale value. Do lease rates reflect that in the monthly payment via higher residual value?
Yes and no.

It reflects it from the standpoint that you get lower payments over fewer months. But the interest on leasing is usually higher than that on a loan.
 

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Yes and no.

It reflects it from the standpoint that you get lower payments over fewer months. But the interest on leasing is usually higher than that on a loan.
Thanks Aldo. I deleted my post because I realized that this point has been discussed already.
 

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If you finance or lease the vehicle isn't yours it's the banks. Unless you pay in cash the only real difference between a lease and a finance ( NOT a buy-misnomer), is you pay more now or more later or nothing later. People are fooled thinking they own it when they finance it. Leasing or financing is technically no different.
This couldn't be more wrong. It's more like the difference between renting and buying a house. You rent, sure, no maintenance or repair costs due to no fault failure, but also no painting, no renovations, no capital improvements, and most importantly, no equity. When you purchase a vehicle (finance) it will eventually be yours. There are no restrictions as to what you can do to that vehicle, and after 5 years (4-6 for most of us), you stop paying because you OWN it. A lease is always owned by the bank. A financed vehicle is, actually, technically/legally owned by you, but the bank has a lien due to a temporary financial stake. Repossession by a bank only occurs to the limit of their lien. The remainder of the value of the vehicle is legally yours. A lien is a claim on your property, not shared ownership.
 

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Pros of keeping your actual Jeep: you can do whatever the heck you want with mods, without FCA sniffing around your car to say if it'll still be under warranty or not; less expensive; you know what you get yourself into since you drove it for years; the more you keep it, the more your insane Wrangler resale value has effect for a future trade.

Pros of having a new one: it smells like a new car, your car is under warranty.

My extra take on this: i'm pretty sure FCA will, as every other carmaker, think of taking the 6MT away to save costs. If you really want a 6MT, i'm pretty sure now's the right time. If you don't mind the auto gearbox, you have plenty of options.

But hey, don't forget: a mod a day keeps the dealer away. :)
 

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My special take on this: i'm pretty sure FCA will, as every other carmaker, think of taking the 6MT away to save costs. If you really want a 6MT, i'm pretty sure now's the right time. If you don't mind the auto gearbox, you have plenty of options.
I imagine if they take the manual away. It will make the older ones retain value even more. Example, look at Corvette. Clean manual C6 or C7, are holding value very well.
 

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I imagine if they take the manual away. It will make the older ones retain value even more. Example, look at Corvette. Clean manual C6 or C7, are holding value very well.
Trudat. However, one thing to keep in mind: Ford is actually bringing a full-blown 6MT for the Bronco. If FCA doesn't want to lose these hardcore 6MT fans, they'll keep the clutch. However, if they sell one manual for 9 autos, they won't think about it too long...
 
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GGolds

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This couldn't be more wrong. It's more like the difference between renting and buying a house. You rent, sure, no maintenance or repair costs due to no fault failure, but also no painting, no renovations, no capital improvements, and most importantly, no equity. When you purchase a vehicle (finance) it will eventually be yours. There are no restrictions as to what you can do to that vehicle, and after 5 years (4-6 for most of us), you stop paying because you OWN it. A lease is always owned by the bank. A financed vehicle is, actually, technically/legally owned by you, but the bank has a lien due to a temporary financial stake. Repossession by a bank only occurs to the limit of their lien. The remainder of the value of the vehicle is legally yours. A lien is a claim on your property, not shared ownership.
At the end of the lease you can sign a transfer to loan form and continue to pay just as you have been until the vehicle is payed off. No real difference. You owe more because you've had the luxury of paying less during the lease. I've also customized my vehicles and after more then 20 trucks never had an issue because I never ever give them back. I simply go to the dealership that has the next new truck or car I want and trade in the lease to them just as I would a loan. No difference.
 

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At the end of the lease you can sign a transfer to loan form and continue to pay just as you have been until the vehicle is payed off. No real difference. You owe more because you've had the luxury of paying less during the lease. I've also customized my vehicles and after more then 20 trucks never had an issue because I never ever give them back. I simply go to the dealership that has the next new truck or car I want and trade in the lease to them just as I would a loan. No difference.
You end up paying a lot more by leasing and then financing the vehicle at the end of the lease.

You take a double hit because: (1) you pay a higher interest rate on a lease, and (2) when you go finance the vehicle at the end of the lease, you are in fact financing a 3-year old vehicle, which is subject to a higher interest rate than financing a new vehicle.

Clearly you prefer to lease. But that doesn’t make leasing “the same” as financing. Not by a long shot.
 

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