Jump Ship or What?

[Gladius Nova]

For what it's worth, I read two articles the other day that said used car prices will continue to increase throughout the year. Don't quote me because the articles were on news sites and they are gone now.

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[dshark1]

For what it's worth, I read two articles the other day that said used car prices will continue to increase throughout the year. Don't quote me because the articles were on news sites and they are gone now.

Hey Man, Thx for that ??

 

[kej]

I find it hard to believe you have "lost 5K" on a Rubicon over the last 4 months. The market is crazy right now. Sure it dipped a little after June but is likely to go up again due to the hurricanes' impact on inventory. The chip shortage will be here for a long time. And yes you could have negotiated a better deal (not easy) or ordered (not fast); but that is only your starting point which you cannot change now. Don't beat yourself up over what you cannot change.

One of the reasons I bought my JLUR new 4 months ago was because used car prices are silly high; particularly Wranglers; particularly Rubicons. I also wanted a Rubicon, 4 doors, and automatic transmission (vs my old JK).

I knew exactly what I wanted and compared ordering from a National dealer who discounts vs local dealer. Most local dealers wanted MSRP or more (so lots of people are buying at that price). But I finally got -2.5K off MSRP due to Costco pricing and the last day of 3yr/0% financing which I figured was worth another -3K time value of money. I could have saved another -2K ordering but would have to wait several months and pick my JLUR up 1K miles from my house.

But here is the good part. I then sold my old DD, a 2007 Toyota Sequoia, in 15 minutes for 30% more than it was worth a year ago. Also my wife's 2009 MBZ convertible and my 2007 2dr JK Sport. Easy peasy in this market. All for much more than they were worth a year ago. So all the old cars are gone and I have two new cars (the JLUR and an X5).

I think your dealer and the on-line guys are offering you a low price so they can resell high. So if you want to sell, I would try to sell the JLR to an individual for the price you want (start high) or wait and see if the on-line guys raise their offers over the next month.

Worst case you have a darn good JLR which will hold it value and will do fine in Florida weather (especially storms). I get the 2dr thing, no one wanted to get in the back seat of my JK because it was hard to access when the roof was on and there was always a wet / dirty lab back there. Also, no room behind the back seat. But don't sell the JLR unless you get the price you want.

 

[Frostbyte]

My $0.02. Unless money is no object to you...never be in a rush to get out of a vehicle. Luckily for you, you have a vehicle that retains its value nicely. Patience is going to be your best friend here. I recommend:

1. Find out exactly what your buyout is (they usually have a fee for ending the lease early, plus, they like to throw in an extra fee for the buyout). All of those fees are going to be somewhere in the massive stack of paperwork you signed your name to. Or, simply contact Chrysler Capital to get the total buyout cost.
2. Once you know the total buyout cost, put a big fat 4Sale sign up on the Jeep and advertise it everywhere (craiglist, etc.).
3. DO NOT sell it for less then buyout. In fact...advertise it for MORE than what you owe...you never know. There's a saying in the auto industry "There's an ass for every seat."
4. Continue making your payments and enjoy your ride until someone loves it more than you do and pays you for it.

 

[dshark1]

@kej @Frostbyte Thank you gentlemen for the great advice! Much appreciated.

 

[JL MADDOG]

One thing to consider is to complete the lease term and consider buying your Jeep at the end of the contract.

But to make that work first you have to determine what the value of that Jeep is on trade for something you want.

If you can't make the numbers work out for you (trade value is less than what you would pay for it at the end of the lease) then let the leased vehicle go at the end of the lease term and buy what you need.

Of course, there may be a penalty for early lease termination and right now you have no equity in the leased vehicle (you never will until such time at which you buy it) so no dealer will be offering you any terms to roll the lease over or assign some value to it that benefits you.

 

[zouch]

Sunny,

just so you know (and because i haven't seen anyone else mention it yet), you never have to pay over Invoice, and MSRP is out of the question.

you can Join TreadLightly at the $100 level, and in 30 days they'll provide you with a code that will guarantee you 1% *below* Invoice; that's your starting price.
then, see who will beat it by how much.

Ok so I leased my 2dr Rubi 2.0 almost 4 months ago.
<much snippage>
What to do?

 

[dshark1]

Sunny,

just so you know (and because i haven't seen anyone else mention it yet), you never have to pay over Invoice, and MSRP is out of the question.

you can Join TreadLightly at the $100 level, and in 30 days they'll provide you with a code that will guarantee you 1% *below* Invoice; that's your starting price.
then, see who will beat it by how much.

Thank U. Yes, unfortunately I did not know this at time of purchase. Now I do! ??‍

 

[R00STER]

Thank U. Yes, unfortunately I did not know this at time of purchase. Now I do! ??‍

From my experience, just cause u have an affiliate pricing, it doesnt mean the dealer will honor it. Back in May, I had to shop around with my code in hand for a dealer to honor it, and when i went to pick it up 6 weeks later the finance guy was pissed the deal was authorized (even though it was later shown he authorized it). Bottom-line seemed that if dealerships are having trouble getting inventory, they may not waste their allocation on anything below invoice.....thats why some people have to go to Gupton.

 

[displayname]

I think a lot of people are forgetting the OP didn't purchase the vehicle. It's a lease.

Not totally made up. Just hate that I allowed myself to enter a poor buying situation

Honestly, you might hate rolling negative equity into another vehicle. This is not a winning situation any way around it.
Do you want to pay the money the luxury of getting your second new car within 6 months, or live with the vehicle and make the best of it.

But at the end of the day, two brand new vehicles in 6 months falls under extreme luxury. It may be cheaper now than ever, but don't try to kid yourself. This is luxury. You have to decide if you can afford it or not.

 

[zouch]

worked fine for me.
i called a bunch of dealers, and let them decide if they wanted to play or not.
nobody is making a deal unless both sides agree to play.

From my experience, just cause u have an affiliate pricing, it doesnt mean the dealer will honor it. Back in May, I had to shop around with my code in hand for a dealer to honor it, and when i went to pick it up 6 weeks later the finance guy was pissed the deal was authorized (even though it was later shown he authorized it). Bottom-line seemed that if dealerships are having trouble getting inventory, they may not waste their allocation on anything below invoice.....thats why some people have to go to Gupton.

 

[zouch]

if the OP said he can only lease his next vehicle, i missed that.

of course the OP is going to have to do their homework and some soulsearching to decide if they want to pay what it's going to cost to get into a vehicle they prefer.

I think a lot of people are forgetting the OP didn't purchase the vehicle. It's a lease.

<much snippage>

You have to decide if you can afford it or not.

 

[DUNE RAP]

Here in Arizona we only pay sales tax on the difference. So I would trade the jeep in and try to get the best deal I can.

 

[The Last Cowboy]

Loosing 10% after 4 moths of ownership ain't bad. Traditionally that hit has been around 20% for Jeeps and trucks and 25-30% for cars and crossovers.

You can try to sell locally, but you're price means that you are competing with new inventory. If there is little to none, you may find the guy looking for what you have. You will also lose your sales tax incentive if you do so. You may be able to get a bump to $49k, but 50 is a mental hurdle. Your Jeep is very nice. How often do you have passengers?

Another site to try is givemethevin.com. I've heard good things about them.

 

[jlang]

Loosing 10% after 4 moths of ownership ain't bad. Traditionally that hit has been around 20% for Jeeps and trucks and 25-30% for cars and crossovers.

You can try to sell locally, but you're price means that you are competing with new inventory. If there is little to none, you may find the guy looking for what you have. You will also lose your sales tax incentive if you do so. You may be able to get a bump to $49k, but 50 is a mental hurdle. Your Jeep is very nice. How often do you have passengers?

Another site to try is givemethevin.com. I've heard good things about them.

Ive used GMTV in Ft Worth twice- easy process and they pay slightly more that most.

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