Any one lease or Purchase?

[ckorte13]

Hi. Just thinking today... can a JLUR be Leased, once you order it fully loaded?

Is Lease a good option to do?
We are not taking it off road. I am not worried about mileage at all. I was thinking after 3 years trade in for a newer one, maybe a different color.
If we Lease, we may not spend the money to Lift it. But, I will purchase the Rock Rails for easy in/out of the Rubicon.

Do you save on the taxes up front if you Lease and then decide to purchase after the 3 years are up?

Please provide input if you know how the Lease works. Thank you!
CK

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[aprevite]

You don't really save on tax at all. If you lease you pay taxes on the first part you use. If you buy at the end you pay tax on the rest of the value.

If you want to keep it for a while it would make more sense to just purchase now. If you want to get a new one every few years or switch to a different vehicle leasing would make more sense.

 

[BronxBomber]

I was in the same predicament, was about to sign paperwork to lease but ultimately ended up sitting the bullet and spending the additional monthly to buy. The residual is just too high to justify spending ~300/month for three years, then turning around and financing 32k for another few years. Plus, I wanted to be able to mod without worrying about it.

The equity I would have built within that same three year period is amazing and if I trade or sell, I'll be a couple grand in the green. I have a high score, so just dragged the payments out for as long as possible at a 3.7% rate I believe it was.

All in all, unless you're 100% sure that you're going to swap into a newer Jeep, not mod, etc., put down a larger down payment or pay the higher note. Crazy how well these things hold value, but now that I "own" it, I'm pumped to actually be able to have equity in a vehicle for once after a few years!

 

[rallydefault]

Yea, I was SO close to leasing just because of the lower monthly payments, but after doing research into leasing... just doesn't make sense to me, especially for a Jeep that I'm going to be modding and taking off road. Too many factors I could get dinged on at the end of the lease, and mods... a lot of work to just have to strip them in a couple years or maybe even get penalized for implementing them.

 

[BDJeep1]

Ally has a balloon loan based on their residuals. Could be an option for some with both lease and loan features.

You own it (as much as you own any vehicle with any loan) with no mileage restrictions.

https://www.ally.com/dealer/auto-finance/personal-finance-and-lease/balloon.html

 

[ckorte13]

I was in the same predicament, was about to sign paperwork to lease but ultimately ended up sitting the bullet and spending the additional monthly to buy. The residual is just too high to justify spending ~300/month for three years, then turning around and financing 32k for another few years. Plus, I wanted to be able to mod without worrying about it.

The equity I would have built within that same three year period is amazing and if I trade or sell, I'll be a couple grand in the green. I have a high score, so just dragged the payments out for as long as possible at a 3.7% rate I believe it was.

All in all, unless you're 100% sure that you're going to swap into a newer Jeep, not mod, etc., put down a larger down payment or pay the higher note. Crazy how well these things hold value, but now that I "own" it, I'm pumped to actually be able to have equity in a vehicle for once after a few years!

Thank you very much for your thoughts. Helps a bunch!

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