Sponsored

GeneralKlinger

Active Member
First Name
BJ
Joined
Mar 16, 2019
Threads
0
Messages
34
Reaction score
17
Location
Medford, NJ
Vehicle(s)
2020 Toyota Rav4 Hybrid XSE
Ally is passing along. I can confirm that. I test drove a 4cyl turbo Rubicon today (non 4xE) and they did a write-up on the pre order. Lease payment for 12K/36m with only $558 down was $558 a month.

I can get it much lower if I order from Koons or Criswell, because their dealer discount is almost $4.5K less than my local dealer.
Sponsored

 

rkoco321

Member
First Name
Rob
Joined
Apr 28, 2018
Threads
1
Messages
23
Reaction score
15
Location
Queens, NY
Vehicle(s)
2013 JK
Ally is passing along. I can confirm that. I test drove a 4cyl turbo Rubicon today (non 4xE) and they did a write-up on the pre order. Lease payment for 12K/36m with only $558 down was $558 a month.

I can get it much lower if I order from Koons or Criswell, because their dealer discount is almost $4.5K less than my local dealer.

Check to see what the buy out is. The ally lease is attractive but what the buy out is ridiculous. Ally is dropping the 7500 off the capitalized cost but their residual is off the chain.
 

Sboden

Well-Known Member
Joined
Apr 18, 2020
Threads
4
Messages
578
Reaction score
483
Location
Kansas City
Vehicle(s)
2021 JLUR 4Xe, 2.5" lift, 17" wheels, 37" tires
Check to see what the buy out is. The ally lease is attractive but what the buy out is ridiculous. Ally is dropping the 7500 off the capitalized cost but their residual is off the chain.
Truth. General Manager says he pays more on his leases going with Chrysler or US Bank because he can get out early on those leases. Ally costs you to get out of compared to those two. If you know you are going to the very end, Ally is fine. I wish I would have stayed with US Bank instead of Ally on my current one.
 

rkoco321

Member
First Name
Rob
Joined
Apr 28, 2018
Threads
1
Messages
23
Reaction score
15
Location
Queens, NY
Vehicle(s)
2013 JK
Yeah for anyone looking for a lease to buy solution, Ally is not effective.

However, it's not bad route if your sole intention is to lease and return at the end of the lease. You get a lower lease price, ally will resell the car and be ahead of the game because they put 7500 dollars in their pocket.

If you purchase the car, you put 7500 in your pocket, and odds are (unless there are recalls or something crazy happens) you will have a decent amount equity in a few years. But since when are cars meant to be investments. We're not talking about a Grand National over here.

Remember to keep your expectations realistic with leasing any vehicle. It was never meant to be affordable method of purchasing a vehicle. You're paying a premium to use a new car in exchange for another new one in a few years. It's not supposed to save the consumer money, it's a luxury.

If you're looking to mod, buy it. If you're looking for cheaper payment upfront so you can have money to mod and buyout later, this isn't the solution.

Folks like me, self proclaimed jeep guy, that goes to some less than desirable areas in a city riddle with crime for work everyday, but are willing to pay a premium to drive a cool JL, leasing is a decent solution and that cap cost reduction is the only reason I'm considering the 4xE Rubicon. I was looking for a Willy's unlimited before I heard about this incentive from Ally.
 

Sponsored

MightyAndrew

Active Member
First Name
Andrew
Joined
Jul 8, 2020
Threads
0
Messages
28
Reaction score
38
Location
Pennsylvania
Vehicle(s)
Subaru Forester
Yeah for anyone looking for a lease to buy solution, Ally is not effective.

However, it's not bad route if your sole intention is to lease and return at the end of the lease. You get a lower lease price, ally will resell the car and be ahead of the game because they put 7500 dollars in their pocket.

If you purchase the car, you put 7500 in your pocket, and odds are (unless there are recalls or something crazy happens) you will have a decent amount equity in a few years. But since when are cars meant to be investments. We're not talking about a Grand National over here.

Remember to keep your expectations realistic with leasing any vehicle. It was never meant to be affordable method of purchasing a vehicle. You're paying a premium to use a new car in exchange for another new one in a few years. It's not supposed to save the consumer money, it's a luxury.

If you're looking to mod, buy it. If you're looking for cheaper payment upfront so you can have money to mod and buyout later, this isn't the solution.

Folks like me, self proclaimed jeep guy, that goes to some less than desirable areas in a city riddle with crime for work everyday, but are willing to pay a premium to drive a cool JL, leasing is a decent solution and that cap cost reduction is the only reason I'm considering the 4xE Rubicon. I was looking for a Willy's unlimited before I heard about this incentive from Ally.
So if you lease, the $7500 essentially gets used as a down payment towards the lease? If you are financing, you have to apply for the credit yourself when you do your yearly income taxes?
 

Jeeperz Kreeperz

Well-Known Member
Joined
Jan 15, 2018
Threads
40
Messages
454
Reaction score
490
Location
New Hampshire
Vehicle(s)
2021 JLUR 4xe
So if you lease, the $7500 essentially gets used as a down payment towards the lease? If you are financing, you have to apply for the credit yourself when you do your yearly income taxes?
You are correct on your interpretation of how the credit works when financing: No $7,500 for you up front - only when you file your taxes the following April. If you want to push your payment down, you could make a $7,500 down payment from other sources like a savings account, then when your tax credit arrives next April (assuming you qualify for the full credit), you could replenish your savings account.

And you are likely correct on the lease interpretation as well. I’ve hedged the lease answer a bit because leasing companies have no obligation to pass along the $7,500 credit to you. They technically own the vehicle, so they own the $7,500 credit. But we are hearing a few leasing companies are passing along the $7,500 to the lessees as a cap cost reduction (similar to down payment).
 

MightyAndrew

Active Member
First Name
Andrew
Joined
Jul 8, 2020
Threads
0
Messages
28
Reaction score
38
Location
Pennsylvania
Vehicle(s)
Subaru Forester
You are correct on your interpretation of how the credit works when financing: No $7,500 for you up front - only when you file your taxes the following April. If you want to push your payment down, you could make a $7,500 down payment from other sources like a savings account, then when your tax credit arrives next April (assuming you qualify for the full credit), you could replenish your savings account.

And you are likely correct on the lease interpretation as well. I’ve hedged the lease answer a bit because leasing companies have no obligation to pass along the $7,500 credit to you. They technically own the vehicle, so they own the $7,500 credit. But we are hearing a few leasing companies are passing along the $7,500 to the lessees as a cap cost reduction (similar to down payment).
That is precisely what my local Jeep dealer is doing. Their lease deal is only 360 for 36 months. Insane deal.
 

rkoco321

Member
First Name
Rob
Joined
Apr 28, 2018
Threads
1
Messages
23
Reaction score
15
Location
Queens, NY
Vehicle(s)
2013 JK
That is precisely what my local Jeep dealer is doing. Their lease deal is only 360 for 36 months. Insane deal.
Plus tax which in some states depending on where you live will drastically effect this price.

For instance, let's take that 360 x 36 number (assuming that's no money down, which I doubt but irrelevant for my example). In NYC you have to pay 8.85% on 360x36. 1146.96.

Also odds are that price is for the Sahara, not the Rubicon, which will have different residual and a higher money factor.

Anyway I don't want to hog the post, OP was referring to the tax incentive. Good luck to all hope everyone finds value in their purchases.
 

360linux

Member
First Name
Billy
Joined
Feb 15, 2021
Threads
1
Messages
24
Reaction score
37
Location
CT
Vehicle(s)
2021 Jeep Wrangler 4xe Rubicon
Plus tax which in some states depending on where you live will drastically effect this price.

For instance, let's take that 360 x 36 number (assuming that's no money down, which I doubt but irrelevant for my example). In NYC you have to pay 8.85% on 360x36. 1146.96.

Also odds are that price is for the Sahara, not the Rubicon, which will have different residual and a higher money factor.

Anyway I don't want to hog the post, OP was referring to the tax incentive. Good luck to all hope everyone finds value in their purchases.
Yeah, don’t forget tax. I’m looking at just under $5K tax on my 4xe here in CT. It’s out of control!!!!
The rate is 7.75% on any new cars over $50K.
 

Sponsored

aug0211

Well-Known Member
Joined
Feb 19, 2018
Threads
23
Messages
1,653
Reaction score
1,372
Location
Ohio
Vehicle(s)
JLUR 4xe
Confirmed the CCAP lease calculator shows this perk.

Go to Jeep.com, locate any 4xe you want, go to the financing options, select lease, and expand the credits section - you will see the $7,500 passed along to you.

Jeep Wrangler JL 4xe Tax Credit explained and hints by someone who has done it twice. 1618197535354
 

TH0R

Active Member
First Name
Rich
Joined
Apr 17, 2021
Threads
7
Messages
25
Reaction score
2
Location
Happy526
Vehicle(s)
4XE
When tax season comes next year what type of info do we need for the taxes for the credit ? Dealer did not give me anything and said they take care of it so I’m assuming I’ll get something in the mail ? I’m new to EV’s so not sure of the process
 
OP
OP

Asterix2112

Well-Known Member
First Name
John
Joined
Dec 28, 2020
Threads
19
Messages
144
Reaction score
227
Location
Vienna, Va
Vehicle(s)
Wrangler 4xe
When tax season comes next year what type of info do we need for the taxes for the credit ? Dealer did not give me anything and said they take care of it so I’m assuming I’ll get something in the mail ? I’m new to EV’s so not sure of the process
Thor - The dealer has nothing to do with the tax credit, absolutely nothing! (not sure why they said that, probably they don't know how it works). I have done it twice already (BMW i3 & Chevy Bolt), it's just a form (8936), or a couple lines in Turbo Tax for me. You put in make, model, VIN, date you got it etc... in next years taxes (for this year). That's all. And assuming you own at least $7500 in taxes (which most people do, your tax owed before withholdings) you will have a nice $7500 bonus!
 

TH0R

Active Member
First Name
Rich
Joined
Apr 17, 2021
Threads
7
Messages
25
Reaction score
2
Location
Happy526
Vehicle(s)
4XE
Thor - The dealer has nothing to do with the tax credit, absolutely nothing! (not sure why they said that, probably they don't know how it works). I have done it twice already (BMW i3 & Chevy Bolt), it's just a form (8936), or a couple lines in Turbo Tax for me. You put in make, model, VIN, date you got it etc... in next years taxes (for this year). That's all. And assuming you own at least $7500 in taxes (which most people do, your tax owed before withholdings) you will have a nice $7500 bonus!
Great Thank you
 

MallBrawler

Well-Known Member
First Name
Pete
Joined
Aug 18, 2020
Threads
6
Messages
140
Reaction score
113
Location
Southern California
Vehicle(s)
'18 JKR, '21 JLUR, '21 Tesla MYP, '22 4XE ordered
Occupation
Jeep Caretaker
And... research/document the minimum amount of time you need to keep the car for to prevent IRS from invalidating your credit. Minimums do exist for purchases, somewhat gray for leases.
Sponsored

 
 



Top