Can you guys please tell me what you think of this deal?

supamyk

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I'll try to keep this simple.

i owe 24,500 on my ram. dealer giving me 23,000. so im rolling that negative into the new purchase.

i am leasing a new rubicon. msrp is 45,775.

i am only putting down 500 which includes 1st month and dmv fees.
48 month lease
7,500 miles a year (buying it at the end)
409 a month.

buyout at the end is 32,000.

thoughts??? plan on pulling the trigger today. what do you guys think?

thanks!!!!





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yongming

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For 36 months $409 include tax correct?
If so, I think it's very nice deal. Congratulations
 

JLjeep0wners

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So youd be paying $51,632 at the end of the day.
 

Saejin

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Need more info to make a better assessment, but first if you can swing by a carmax and get your Ram appraised. Carmax will appraise it and give you an offer to buy it. It should be equal to or better yet more than the dealer is offering as the dealer always lowballs. If the carmax offer is more see if the dealer will match. If not, sell to carmax and renegotiate your lease deal.
 

Saejin

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Also, 7500 miles a year is pretty low. I assume you did this since you mentioned you’d buy it at the end of the lease. Life happens, so buying it at the 4 year point especially for $32000 may not be the best option. I think you may be putting yourself into a bind by limiting to 7500 miles...I’d try to get it to 10,000 at least.

Also, can you afford to just buy it now? Did you run the numbers. In the end leasing and then buying will cost you more.
 

LeaN69

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Need more info to make a better assessment, but first if you can swing by a carmax and get your Ram appraised. Carmax will appraise it and give you an offer to buy it. It should be equal to or better yet more than the dealer is offering as the dealer always lowballs. If the carmax offer is more see if the dealer will match. If not, sell to carmax and renegotiate your lease deal.
well a trade in of that amount will account for a very nice tax savings, so take that into account. 8.875% for NY that's 2,041.25
So if dealer is giving you $23,000 carmax will have to give you $25,041.25 just to match it.

So your negative trade in is actually positive by $500
 

ALEX-4LO

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what is your mf?

I would ask to stretch the mileage to at least 12k

Try to have them pay off the trade so you don't roll any negative equity. They can lower the MSRP more and move it to the trade so you can start at a clean slate with the new purchase.
 

Saejin

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well a trade in of that amount will account for a very nice tax savings, so take that into account. 8.875% for NY that's 2,041.25
So if dealer is giving you $23,000 carmax will have to give you $25,041.25 just to match it.

So your negative trade in is actually positive by $500
How does a trade-in impact the tax savings since taxes are collected on the actual monthly payment?

Also, my recommendation for carman was also to get a better off to leverage the dealer with so they would up their offer. Typically dealers will lowball any trade in and if you don't know better you might take that deal because it gets you out of the other car. I've typically seen negotiations go like this...

We'll offer to pay $21k for your trade which only means you have to pay $1000. That's the market/auction value and all we can give for it. However we can roll it into your loan so there's no out of pocket expenses. Also, your payment will stay the same, so you're getting a new car for the same price as your old one. You won't realize you've overpaid for the deal bu a couple of grand until you get home and the new car experience wears off...then you look at your paperwork. Doh...you've signed a 6 year loan, paid MSRP for the car, plus add-ons, etc. But your payment stayed the same.

I really hate dealerships that do the above.
 

jhonn236_AZ

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Also 48 months is not a very good deal since the warranty is 3 year/36,000 miles? Can you do a 36 month lease for 10,000 a year and keep the same payment? is technically what you're doing (miles-wise)
 

LeaN69

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Depending on state actually so you’re not wrong. Leasing in PA tax is collected from payments.

Leasing in NY and NJ tax is collected based of total depreciation $ charged on the lease.
 

Jeep Jenn

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Also, 7500 miles a year is pretty low. I assume you did this since you mentioned you’d buy it at the end of the lease. Life happens, so buying it at the 4 year point especially for $32000 may not be the best option. I think you may be putting yourself into a bind by limiting to 7500 miles...I’d try to get it to 10,000 at least.

Also, can you afford to just buy it now? Did you run the numbers. In the end leasing and then buying will cost you more.
also you should assume you drive 250-300 miles a week (if you drive less than 10 miles to work), which means 4 fill ups a month which is about 1000 miles a month which is 12000 a year... 7500 means you fill up your tank 1-2 times a month and you don't drive much. make sure you KNOW how many miles you put on your jeep annualy...a nd it is a toy so you will probably do more than 15000 a year
 

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