Jump Ship or What?

[dshark1]

Ok so I leased my 2dr Rubi 2.0 almost 4 months ago. That was prior to finding this forum, filled with all you wonderful & knowledgeable Jeep brothers. So yeah I paid MSRP & definitely did not get a great deal. Anyway, starting to wish I got a 4dr instead for more practical reasons. By the way, my Jeep will never rock crawl or anything close. So yeah the Rubi is way over kill for my daily driver city needs. Plus honestly wish I had the all time 4 WD system for extra peace of mind for Florida weather. Called the dealer today that I purchased from & asked if he had any 4 doors on the lot… I know now , order for under invoice is the ticket! ( don’t roast me yet) thing is , I don’t have another vehicle to use in meantime. So he told me he has plenty coming in 2 weeks. So I asked how much off msrp is he willing to do for a return customer? His answer was MSRP is the best they can do now & I should go get a price from Carmax & he will try to come as close to that price as he can on my Jeep. So here is the question or questions, Went to Carmax today got offered 47k but I owe about $52k, safe to say 5k Negative. My MSRP was $54k nicely loaded Jeep… With the market being the way it is right now, Is this my time to jump ship? Will I be in a more neg situation after used car prices decrease or better because I have made more payments & brought down my payoff price? Or will my Jeep take a much harder price hit in months too come? Really on the fence about this any input is highly appreciated. I really don’t wanna get screwed that bad again. I’m still kinda soar! 1. sell to Carmax, cut the check for the difference & start a clean slate which will hurt a bit, 2. Trade into dealer for a 4dr & roll some negative into a new lease? 3. Private list it, just suck it up & keep it? Just to add, I will do some more shopping around as far as trying to get a better deal if possible on a new 4dr but dealerships here in Florida r tough to say the least.. Man , I would luv to order & spec it out! the way I want. But that’s probably not in the cards for me. Sorry for the long thread. What to do?

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[Midding]

Sounds like he wanted you to get a quote from Carmax not trade it in there? Tell him Carmax offered 49k and ask what he can do, he wants the sale and the trade no doubt. Good luck

 

[Sidspider]

How much longer do you have on your lease? Maybe you can look into transferring it to someone else?

 

[dshark1]

How much longer do you have on your lease? Maybe you can look into transferring it to someone else?

44 month”s remaining ( 48 month lease term )

 

[dshark1]

Sounds like he wanted you to get a quote from Carmax not trade it in there? Tell him Carmax offered 49k and ask what he can do, he wants the sale and the trade no doubt. Good luck

Only thing is, He might ask to see the quote? I asked him how much they would pay without going to Carmax but have not heard back as of yet? Maybe he already knows that they would offer less then Carmax?

 

[au1994]

Try Carvana or Vroom. Sometimes they are higher and its really easy to get a quote.

And yes, without ordering, I’d guess MSRP is going to be the best you can do. Someone may throw a token 500-1000 off for you but that’s about it.

 

[dshark1]

Try Carvana or Vroom. Sometimes they are higher and its really easy to get a quote.

And yes, without ordering, I’d guess MSRP is going to be the best you can do. Someone may throw a token 500-1000 off for you but that’s about it.

Tried the other 2. Carmax is actually better by $2-3k

 

[Bamabww]

Have you tried getting a price from Carvana? My son got a better deal with them than Carmax.

I think I'd suck it up for a while longer. Good luck.

edited: someone else posted just as I did and then you replied. Sorry, no help here.

 

[dshark1]

Have you tried getting a price from Carvana? My son got a better deal with them than Carmax.

I think I'd suck it up for a while longer. Good luck.

edited: someone else posted just as I did and then you replied. Sorry, no help here.

Thx … What’s scares me with keeping it longer is the question, Will I lose more in 6 months let’s say?

 

[Bamabww]

Thx … What’s scares me with keeping it longer is the question, Will I lose more in 6 months let’s say?

Yeah, that's probably true. I went to 5 dealers in north Alabama before I found one that would work with me on price and actually ordered a Willys from that dealer this week. I gave each salesperson the same list of options and the last place beat everyone by $4K!

Maybe that's not an option you have in your situation with a lease. Does that tie you to one dealer?

 

[jellis4148]

He honestly doesn’t want to mess with you. That’s why he sent you to Carmax. He knows you’re way upside down and he is just being lazy. Trading in isn’t really an option. That $5k of negative would raise your lease payment about $150 more a month plus the difference of switching to a 4dr. Yes your Jeep is worth more now, but you’re paying more now. Kind of a wash. In 6 months it may be worth less, but you’ll be paying less for a new Jeep. Just wondering, what is your lease payment?

 

[displayname]

Let me ask you this, if used car prices weren't so high at the moment would this even be a consideration?
You want to sell a 4 month old production vehicle. One that can be readily ordered I might add. Any other time in history you would have expected to take a larger hit than the 8% you are looking at right now. And you're dealing with leases, so it's already not the cheapest way to get a vehicle.

If you were buying a used vehicle with mileage, would you be willing to pay full MSRP when you could wait a couple weeks/months to order a brand new one to spec? Probably not. So why should the dealer. And why would the dealer agree to this? Especially if they still have some new ones coming in. They need to make a buck too.

The reality is that you've made an expensive mistake. Yes, the used market had a moment where things got upside down, and back in June you might have been lucky. But I think it's a little entitled to think that because that happened in the past you should expect it to happen for you now. I think you need to swallow the pill and deal with the situation. That can be living with it or negative equity. Either way, it's not easy. But don't expect to be allowed to rent (lease) a brand new vehicle for free for 4 months. You all in got to rent a nice vehicle ordered to your spec for under $60/ day ...if I did my rough math correctly. That's not too bad.

You could see if this hurricane season actually causes enough damage and demand to out pace production, but that seems like a risky bet in my eyes. I'm not a big enough risk taker to try to play used cars like stocks.

 

[mwilk012]

Keep the Jeep you’ve got unless money is no object for you.
There is nothing about Florida weather that makes you need 4WD.

 

[areuriding]

I say order what you want from a dealer selling well below MSRP (Plenty of places on here to look) I ordered and got 8k off. Drive what you have until the new one comes in and then offload what you got. You may have to fly out and drive back but it worth the savings. In my case, I live in Northern Virginia. I reached out to more than a dozen dealers and the all wanted MSRP or more. One was willing to do 4% under. I found a dealer in Idaho that did way better. So when mine comes in I'll fly out 140 bucks for the plane ticket and drive back 500-600 for fuel and camping out along the way. I still will have a savings of 7k and have a nice little vacation along the way.

 

[aldo98229]

Being upside down is no fun.

If you hold on to the Jeep for at least 2 years, chances are:

1. you will have paid down enough to walk away without negative equity, or possibly have some positive equity
2. this crazy market will have subsided, and
3. the redesigned JL will be out.

A ton of people want a 2-door Rubicon; they are truly hard to find. Unless you absolutely need the extra space, it is a nice-to-have.

If I were in your position, I’d stick with the Jeep you have and enjoy it.

Good luck!

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