First Time Jeep Buyer - I don’t know what I’m doing

[HellaYellaSoFl]

Wow those are high residual values... is this for 3 yrs? I assume it fluctuates geographically. What is residual value In Cleveland?. Anyhow yes melanie tht price they gave u is ridiculous only bc 21’s are on the way. They asking top price for a leftover. Tell them to scram

Per Edmunds, residuals are national. That's for 36/12.

Dealers are still receiving 2020s and 2021 doesn't have any significant changes.

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[iznthesky]

Anytime a car dealer tells you:
"He’s saying that’s a deal with the high demand right now".....you can be sure that he is lying through his teeth and its a RED flag that the dealer...perhaps the dealership is fundamentally dishonest.

Keep doing your research...and find a trustworthy dealership...and listen to the forum members advice......stay away from Leasing...massive loss of money.

 

[YYCSahara]

The point is as long as one owes a bank ANY money on the vehicle IT IS NOT YOURS! This is regardless if you buy a lease out at the end and refinance It for a few years more or if you pay off a conventional six to seven year purchase agreement.

With a lease if you end up not liking the vehicle or it is problematic (which some JLs are) you can walk away in 2-3 years with no loss. If you walked away from a purchase (sell or trade) in the same time frame you loose ALL the paid up front sales tax’s on the entire cost of the vehicle, no state cuts you a check back for the unused thousands of $$$$$ in sales tax (which is all to often for many “rolled” into the total financed to save “out of pocket” costs). And unless you put a HUGE down payment <20% you will be “upside down” in your “loan to value” for up to the fourth year of a six/seven year loan repayments. This is especially true with new Jeeps being purchased on six, seven and even up to eight year loans these days. Rather high starting MSRPs that the average income American would not be able to afford if not for the longer term loans.

Leases DO have limitations and some additional cost factors, but these can be negotiated or mitigated upfront to save on the end of term options as long as one understands these going in. Leasing done right can save a person thousand over a purchase and give them more option as life and finances dictate.

Sure we all love our brand new Jeeps and think we will keep them for decade. And then comes the Bronco next year and we want that or a Hemi Wrangler or a Wageener....LOL. Fact is that is the majority of Jeep owners will never pay off our Jeeps and instead trade them in well before the end of a loan, lease or lease refinance purchase loan.

To each his/her own but IMO a Jeep Wrangler is a safe beat to lease and come out ahead on vs buying at this time.

Refreshing to see there are some people that actually understand leases fully.

I find it funny when people say you walk away with nothing at lease end. You paid roughly the same amount whether you financed or leased if you walk away after same amount of time.

There is no chance in hell I would pay cash of finance a Wrangler. Leasing is much simpler in Canada. There is no negotiating of residual. I got 3.9% interest and just over $9,000 off on my Sahara. It's by far the best leasing vehicle on the market up here due to its very high residual.

One more big benefit of leasing is if you have a big crash/hail claim on it, you take 0 risk. Basically just return it and it's not your problem that the Carfax now has a huge claim on it. With finance, good luck trying to get rid of it with a claim like that...

 

[Goosed]

Here everyone is posting on this thread because the OP’s avatar pic is of a girl however no one noticed that the link to the car goes nowhere now and the OP hasn’t replied and ghosted the thread.

 

[Notorious]

ghosted the thread.

All valid points. How do you suggest bringing the OP back to this thread?

 

[Goosed]

All valid points. How do you suggest bringing the OP back to this thread?

I’ve never been successful with engaging females... too nervous. So I can’t help.

 

[Notorious]

I’ve never been successful with engaging females... too nervous. So I can’t help.

LOL.

Spoiler: Off topic

Most females don’t think they’re anywhere near as pretty as others see them as. And you can’t look at them and know their insecurities. The reverse is also true. So while we may go goo goo over their looks, some of the females secretly hate themselves and the way they look.

 

[gqgambler]

Have you considered buying used? Depreciation hit has already been taken for essentially a model that hasn't changed and if you want to trade it in a few years down the road you haven't taken as bit of a money hit. Wranglers tend to retain value fairly well and purchase interest rates are low right now, even for used cars.

Leasing is a black hole and money winners for dealers with lots of pitfalls for someone that doesn't understand them well. If you have a plan that you want to lease for 3 years because you know in 3 years you want to get rid of a vehicle then sure, but I really try to avoid leasing if you can afford to purchase. You get nothing with a lease, you don't own anything. And at the end you have to buy or lease again, you create a cycle that constantly feeds into itself. When you purchase you have the option for owning for as little or long as you want. Leasing you are on the hook for the entire term and payment, even if you turn it in early.

 

[Mel4]

Hey y'all, the OP is back! The link is no longer active because I am now a proud owner of a 2020 Jeep Wrangler Sport S

After reading through your responses (thank you by the way), I came to realize that no one 100% knows what they are doing and it really depends on your personal situation and what you can and/or are willing to afford.

I did my research. There were 4 total Wrangler Sport S available within a 500 mile radius at the time I looked and the unlimited model was leasing a lot better because there are a lot more on the lot. I didn't want a 4-Door. The prices for the other Sport S available were comparable or even more. (I do wish I had the tidbit about the price being lower prior to my quoted price, but I'm assuming that's why they were willing to still negotiate.)

That being said - I negotiated a little more off the price and the money factor ended up being .00124 (or about 3%) which is fine. Did I pay more than I would have probably even a month ago or if I had waited a couple months? Probably. But I'm okay with that because I wanted the Jeep now for various reasons and I did shop around for more than a month. (I did let an AMAZING deal slip by unintentionally because I wasn't educated enough at that time, and am still kicking myself for it.)

If anything, I think some of y'all underestimated me by my pic. I'm very happy with the deal and payments I'm making because it fits my unique situation. I do appreciate everyone who took the time to respond. It helped in my research and actually gave me more confidence that I knew more than I thought.

Just look at this beauty I love her.

 

[Dkretden]

Hey y'all, the OP is back! The link is no longer active because I am now a proud owner of a 2020 Jeep Wrangler Sport S

After reading through your responses (thank you by the way), I came to realize that no one 100% knows what they are doing and it really depends on your personal situation and what you can and/or are willing to afford.

I did my research. There were 4 total Wrangler Sport S available within a 500 mile radius at the time I looked and the unlimited model was leasing a lot better because there are a lot more on the lot. I didn't want a 4-Door. The prices for the other Sport S available were comparable or even more. (I do wish I had the tidbit about the price being lower prior to my quoted price, but I'm assuming that's why they were willing to still negotiate.)

That being said - I negotiated a little more off the price and the money factor ended up being .00124 (or about 3%) which is fine. Did I pay more than I would have probably even a month ago or if I had waited a couple months? Probably. But I'm okay with that because I wanted the Jeep now for various reasons and I did shop around for more than a month. (I did let an AMAZING deal slip by unintentionally because I wasn't educated enough at that time, and am still kicking myself for it.)

If anything, I think some of y'all underestimated me by my pic. I'm very happy with the deal and payments I'm making because it fits my unique situation. I do appreciate everyone who took the time to respond. It helped in my research and actually gave me more confidence that I knew more than I thought.

Just look at this beauty I love her.

CONGRATS.

now go drive the crap out of it and drive it with utter pride. Oh, and a big smile is a must too.

HAVE FUN!

 

[Gee-pah]

Hey y'all, the OP is back! The link is no longer active because I am now a proud owner of a 2020 Jeep Wrangler Sport S

After reading through your responses (thank you by the way), I came to realize that no one 100% knows what they are doing and it really depends on your personal situation and what you can and/or are willing to afford.

I did my research. There were 4 total Wrangler Sport S available within a 500 mile radius at the time I looked and the unlimited model was leasing a lot better because there are a lot more on the lot. I didn't want a 4-Door. The prices for the other Sport S available were comparable or even more. (I do wish I had the tidbit about the price being lower prior to my quoted price, but I'm assuming that's why they were willing to still negotiate.)

That being said - I negotiated a little more off the price and the money factor ended up being .00124 (or about 3%) which is fine. Did I pay more than I would have probably even a month ago or if I had waited a couple months? Probably. But I'm okay with that because I wanted the Jeep now for various reasons and I did shop around for more than a month. (I did let an AMAZING deal slip by unintentionally because I wasn't educated enough at that time, and am still kicking myself for it.)

If anything, I think some of y'all underestimated me by my pic. I'm very happy with the deal and payments I'm making because it fits my unique situation. I do appreciate everyone who took the time to respond. It helped in my research and actually gave me more confidence that I knew more than I thought.

Just look at this beauty I love her.

Use it in good health Melanie. The fact that you didn't get the vehicle at the 8% of Invoice price also means you didn't have to factory order it and wait, and get yourself, ideally without a car and via mass transit, to some Jeep discounter like Koons in Vienna, VA, then having to drive the rig back to your Ohio.

So look at it this way: you paid for convenience--and that's okay.

With this all behind us I'm curious as to what your mindset is as it regards possibly divesting yourself of this vehicle in as little as months or years, or so I read above.

Mind you: I'm not judging you as if to say, "how could you get rid of a Wrangler!" Rather--and even if it's "water under the bridge" at this point regarding advising you, what was your strategy if you don't mind sharing?

Are you seeing if a Wrangler JL is for you? Are you possibly moving to an urban center where vehicles are more burden than benefit?

Mind you, if that metaphorical "water under the bridge" is 30" or less, your Wrangler should be able to ford it. Best not to try that for kicks though.

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