Dealership offering me Cash back to return my lease

iki4life

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So this was my first time leasing, and my JL Sahara has been quite exciting to lease for the last 2.5 years. Ive been thinking about whether I want to buy it out, or return it altogether, and until today- I got a text from my dealer saying they are -

"Looking to pull people out of their leases early to gain inventory because our stock is low. COVID helped the market, especially leased vehicles. A lot of people have equity in their trades which is unheard of. You have $3000 in equity in your vehicle".

That was the exact quote I got. Residual is $28k.

So they are basically saying they will give me $3000 to return a vehicle that I dont even own. Ive never heard of having "equity" in a car, let alone a leased one. Is this too good to be true? Or am I being played?

Furthermore, I really like the Jeep and wouldnt mind buying it out, however, I have a 2 year old and a 2 month old who are growing like crazy, and the back seat is getting quite tight with carseats.

Im in a dilemma, please help.





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JEEPIDON

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So this was my first time leasing, and my JL Sahara has been quite exciting to lease for the last 2.5 years. Ive been thinking about whether I want to buy it out, or return it altogether, and until today- I got a text from my dealer saying they are -

"Looking to pull people out of their leases early to gain inventory because our stock is low. COVID helped the market, especially leased vehicles. A lot of people have equity in their trades which is unheard of. You have $3000 in equity in your vehicle".

That was the exact quote I got. Residual is $28k.

So they are basically saying they will give me $3000 to return a vehicle that I dont even own. Ive never heard of having "equity" in a car, let alone a leased one. Is this too good to be true? Or am I being played?

Furthermore, I really like the Jeep and wouldnt mind buying it out, however, I have a 2 year old and a 2 month old who are growing like crazy, and the back seat is getting quite tight with carseats.

Im in a dilemma, please help.
It does happen but usually with a high end vehicle. I had my Land Cruiser for 2 years and went through the same thing....I had $1,500 more value than the lease still owed!!! Same thing for the Lexus LX570. Those vehicles are made in short supply and only have an average of 8 days on any dealer lot.

Yes it does happen, rarely!!!

Seems like you have a choice to make!
 

guarnibl

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I'm pretty sure I'd get cash back on my lease (put no cash down) if I turned it in today (few grand). Problem is there's literally no inventory I'd want to replace it with presently. It would still be a wash since I'd have to put PPF on it again... but I'd have two model years newer.
 

Windshieldfarmer

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Be careful - I am guessing they will let you return your Jeep now and give you a $3,000 discount off a new one...which is very mediocre at best.
 
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GtX

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All they are doing is trying to get you into a new commitment before your lease ends and you start looking around. A current customer is cheaper to keep than a new customer is to gain. Right now, your're a current customer. Their only goal is to keep getting your dependable monthly cash flows for the next 3 years. Maybe 6 or 7 if you buy and finance.
 

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