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Equity in buying my lease?

Respo

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Wondering if buying my lease would be beneficial to me and net me any equity, you guys tell me. I’ll be ordering a 2022 JT when the order banks open. My lease is up in a few months and I’ll owe $37k, $41,xxx after tax.
2018 JLUR sting-gray

Options:
Body color roof
Body color fenders
Remote start
LED lighting
Cold weather
Proximity
8.4 uconnect
Steel bumpers
Auto
Original msrp $52k

has 20k miles on it currently andis in pristine condition.

thanks in advance!

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Some Random Guy

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If at all possible, start shopping it around 1-3 days before you pick up the JT. The reason is if a deaer (even carmax) buys it, they usually don’t pay taxes. I would then use one of the offers at your dealer to negotiate your trade in price, which will lower your JT’s taxes in most states.
If you buy it yourself, you pay taxes on the lease purchase, but at least you get the tax break in the JT.
If the above sounds good, consider a lease extension. Your high $$$ transactions will come with a big tax bill, so it might be worth continuing the lease.
Finally, not all leases can be bought out by Carmax or another dealer. I don’t know where Stellantis falls in this.
 
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Respo

Respo

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My lease is through a credit union, not FCA, I was just wondering if there was any money to be made if I bought it, drove for a few months while waiting for my JT, then sold. I see wild asking prices on used JLRs so I was just wondering if it might fetch over $41k if I sold it.
 

Some Random Guy

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I had a lease I thought was through Chase, but it turned out Subaru still controlled it.
I'd recommend you look up what your sales tax will be based on the residual value, then see if extending your lease is cheaper (or even an option). This also avoids the buyout problem, because I'm fully confident a Jeep dealership can buy out a Jeep lease. If they can't, they'll find a way to make it work.
Finally, if you don't have the cash on hand to buy it out, this also avoids another credit inquiry/loan on your credit report a few months before you try to buy a JT. Granted, it doesn't sound like you have credit issues, but for the benefit of anyone else reading this it is another decision factor if they're in a similar situation and would need a loan.
 

GATORB8

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Heads up, some lease companies have wised up to the current market and are marking up third party dealer buyouts and limiting the third party buyout to 60+ days prior to lease end.
 

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Respo

Respo

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Lol. This has gone a little off path.
I guess my question is this:
Is my JLR worth more then $41k if I posted for sale? I’m guessing no, but the market is really weird right now
 

Some Random Guy

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Lol. This has gone a little off path.
I guess my question is this:
Is my JLR worth more then $41k if I posted for sale? I’m guessing no, but the market is really weird right now
Sorry, I did get ahead of that. It is highly likely it is worth more than $41k. Have you tried just plugging in your info to one of the instant offer sites? Even just KBB with no offer can give you an idea.
Right now, my Jeep dealership is doing 130% KBB Fair value for 2017's and older
 

GATORB8

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Lol. This has gone a little off path.
I guess my question is this:
Is my JLR worth more then $41k if I posted for sale? I’m guessing no, but the market is really weird right now
Try Vroom.com to get an idea, takes 5 mins.
 

TXRubicon

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Put your vin in Carvana.com and see what number it spits out. No one here can tell you exactly what your car is worth to a buyer.
 

canc1978

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Wondering if buying my lease would be beneficial to me and net me any equity, you guys tell me. I’ll be ordering a 2022 JT when the order banks open. My lease is up in a few months and I’ll owe $37k, $41,xxx after tax.
2018 JLUR sting-gray

Options:
Body color roof
Body color fenders
Remote start
LED lighting
Cold weather
Proximity
8.4 uconnect
Steel bumpers
Auto
Original msrp $52k

has 20k miles on it currently andis in pristine condition.

thanks in advance!

Jeep Wrangler JL Equity in buying my lease? E2BF7418-D541-4B37-9332-CBD89FA5F838

So I took advantage of the used car market. Sold my 2019 Rubicon to carshop.com for 53500. It was a US bank lease. My payoff even with tax and their fee was 42800 after 2 years of the lease. So I bought it out myself since US bank does not allow 3rd party buyouts. The process took a month but I made back 10.5k of my lease payments. The MSRP new was 54010, I paid 47k for back in 2019. So I think I did okay. My problem now is my 4xe order is on week 6 of D status not that I need a car at the moment as I have another car. But moral of the story if you have equity and don't need a car at the moment I say take advantage.
 

The Last Cowboy

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Book your Jeep on NADAguides.com. It is likely worth $6-8k more than your buyout , depending on where you live. And as always, as we approach fall, 4x4s increase in demand.
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