Keep or Trade it In?

[Hkyjeeper88]

Thanks for the add to the group!

I currently have a 2017 JKU Sahara and my lease is expiring in April of 2020. I have trying to figure out what to do....Do I keep my JK (I know my “purchase price” of $28k at the end of the lease) or trade it in for a JLU?

There is a dealership by me that has a JL that I like. It’s a 2019 JLU Sport S
MSRP: $42,815
“Dealership Price: $37,288”

Specs of JL:
3.6L V6
Convince Group
Technology Group
3 piece hard top
Polished granite wheels
Cold weather group

Specs of my JK (stock):
3.6L V6
Leather seats
Cold weather group
Dealer installed auto start
Body color matching 3 piece hard top
Navigation

If I trade it in what would be a good price for the JL?
I have been reading up on the “issues” some people have been having with their JLs so I am a little concerned

Any and all feedback is appreciated

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[ZEN357]

Has you Jeep been a good Jeep? Has it given you any problems? If it's been good and no problems, I'd buy it. You never know, you may get a Lemon right from the get go if you trade it. On the other hand if you really want a new one then it's most likely going to eat away at you to get a new one. Also, why are you leasing rather than buying? Just wondered. I never lease. I always buy, but I also do as much maintenance on my vehicles as I have my own garage and tools.

 

[Hkyjeeper88]

Has you Jeep been a good Jeep? Has it given you any problems? If it's been good and no problems, I'd buy it. You never know, you may get a Lemon right from the get go if you trade it. On the other hand if you really want a new one then it's most likely going to eat away at you to get a new one. Also, why are you leasing rather than buying? Just wondered. I never lease. I always buy, but I also do as much maintenance on my vehicles as I have my own garage and tools.

Thanks for the response. My JK has been awesome so far. No major issues (knock on wood) and I’ve had maintenance done when I’ve been supposed to as I had 2 years of complimentary maintenance. I haven’t gone for a test drive yet in the new JL so who knows if I’ll even like it and as you said I don’t know if I’ll get a lemon.

 

[Thill444]

The price is fair, the longer you wait with more 2020's hitting dealer lots the more room you will have to negotiate on 2019's.

You really should drive a JL and decide if a new one is worth it you. In terms of lemons that can happen on any vehicle, for every lemon JL there are likely thousands and thousands of people with no issue. They sell a ton of these things and typically only the people with issues post on forums and on Facebook.

 

[TXRubicon]

Buying out a lease is very rarely the best value, especially given the sometimes inflated residuals. So, questions to ask and particulars to consider:

• What is market value for the JK right now? If you had to buy one similar to what you have, what would it cost you? If your buyout is higher than the market, it's a bad deal. If your buyout is below the market value, then you should consider it.
• How long will you have to finance the residual on your JK? If you are looking at 3+ years, you are looking at 6+ years total of paying on the same vehicle, which will only continue to depreciate during that time. The amount of interest you are going to pay on that vehicle is going to be rather high. If you can pay cash, or pay it within 2 years, you might be ok.
• You'll pay sales tax on the buyout price.
• You'll be on the hook for maintaining it beyond the warranty.

 

[viper88]

I had a '15 JK and own a '19 JL now. I would go with the JL. The JL is a lot more refine and drives better. It's the best Wrangler yet. I think you will make your decision pretty easily after a few test drives.

 

[ZEN357]

Thanks for the response. My JK has been awesome so far. No major issues (knock on wood) and I’ve had maintenance done when I’ve been supposed to as I had 2 years of complimentary maintenance. I haven’t gone for a test drive yet in the new JL so who knows if I’ll even like it and as you said I don’t know if I’ll get a lemon.

I'd keep it and buy the lease out. You could always trade it in later if you find a really great deal, but if it's been a good vehicle I'd hold on to it.

 

[Strommen95]

28k to a little over 37k is not a huge jump in price when you consider the vehicle will be 4 years newer with a full warranty and better options. I went from a fully paid off 2014 JKU I had for 5 years to my 2019 JLU. I would have been very happy if I stayed in my JK as I loved her and had no issues but once I test drove a JL I had to have it. The interior is much more modern(nice to have a backup camera and a nice radio unit), the ride is a lot nicer(JL Sport rides better than JK Sahara), you could feel the weight loss when driving it and especially when removing top/doors, and most importantly the new transmission makes the JL feel much more powerful than the 3.6 JK. The ride is much more refined, nicer, but still very Jeepish. If you love your JK you'll love the JL as really it's just a JK refined which I love.

 

[Thill444]

OP, only you can really decide if it is worth it. I would test drive a JL, and make your decision. None of us here know your finances or if the jump to the JL is worth it to you.

 

[Kyanche]

28k is pretty good for a 2017.

 

[OnlyOne]

That’s way to much for a JK. If you wanted to trade it you would never get the money out of it, even though they hold awesome value. Go drive a JL. As awesome as the JK is you’ll be trading it as soon as you do.

 

[Hkyjeeper88]

I'd keep it and buy the lease out. You could always trade it in later if you find a really great deal, but if it's been a good vehicle I'd hold on to it.

I forgot to mention that I live in Illinois and starting in January you will be taxed on whatever you trade in. So I'm trying to make up my mind before then.

 

[Hkyjeeper88]

I had a '15 JK and own a '19 JL now. I would go with the JL. The JL is a lot more refine and drives better. It's the best Wrangler yet. I think you will make your decision pretty easily after a few test drives.

Where do you live in Illinois? What dealer did you buy from? I'm trying to find someone that will give a good deal on one

 

[viper88]

Where do you live in Illinois? What dealer did you buy from? I'm trying to find someone that will give a good deal on one

I shopped everyone. I bought from Tyson. Go see Jason Beltran at Tyson Motors in Shorewood IL. He's no BS.

 

[viper88]

I forgot to mention that I live in Illinois and starting in January you will be taxed on whatever you trade in. So I'm trying to make up my mind before then.

Starting 1/1/20 the trade-in sales tax credit in Illinois is capped at $10K. You get credit for the first $10K of your trade-in. You will pay sales tax on anything over the $10K if your trade is worth more then $10K.

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