Lease vs. Purchase, Never leased before. HELP

[Old Dogger]

Except instead of the receipt, you have the option to purchase the vehicle at a residual value established at the time of contract, allowing the option to recuperate equity from your payments.

Correct, but the question is, how good of a deal price is the residual at that point and time. As we know, the price of used vehicle can fluctuate drastically. But I guess that one could make that decision, based on that current time.

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[kah.mun.rah]

I tell anyone buying a Jeep to budget 3 monthly payments. One to the bank for the loan/lease, one to your savings account for future repairs, and one to Affirm to pay for your mods.

 

[GATORB8]

Correct, but the question is, how good of a deal price is the residual at that point and time. As we know, the price of used vehicle can fluctuate drastically. But I guess that one could make that decision, based on that current time.

Yes, and it's a secondary benefit, and normally how good lease deals work.

Often (in the pre-crazy market) BMW and Mercedes RVs were reliably higher than their actual resale value at the end of the lease. In this case, you were financing less than the actual depreciation, and you would benefit by not having exposure to the negative equity at the end of the lease.

 

[JDub11]

This thread just keeps getting more american. First we're leasing jeeps we can't afford. Now we're buying accessorys we can't afford on payment plans.

 

[GATORB8]

This thread just keeps getting more american. First we're leasing jeeps we can't afford. Now we're buying accessorys we can't afford on payment plans.

It's okay, you can just do a cash out refi and utilize some of that 50% increase in your home value.

 

[luckysharm]

This would be my daily driver and not a ton of off roading. Mods would be minimal so that wouldn't be a concern for me with leasing either. Pocketing the $10k and going the leasing route sounds like the smartest decision at the moment. Thank you!




My current Sport is pretty basic, no big screen, power windows and locks, but in great condition. I did get a slightly higher offer from Carmax online of $31,800 so I may need to look into that as well. I can definitely wait, this is my first Wrangler and it's going to be hard to say goodbye when the time comes because it's been so good to me... just trying to get something with a few more bells and whistles :D

This would be my daily driver and not a ton of off roading. Mods would be minimal so that wouldn't be a concern for me with leasing either. Pocketing the $10k and going the leasing route sounds like the smartest decision at the moment. Thank you!




My current Sport is pretty basic, no big screen, power windows and locks, but in great condition. I did get a slightly higher offer from Carmax online of $31,800 so I may need to look into that as well. I can definitely wait, this is my first Wrangler and it's going to be hard to say goodbye when the time comes because it's been so good to me... just trying to get something with a few more bells and whistles :D

Hi. Try driveway.com.

They offered me the highest offer. My 43k jeep with taxes and fees was about $46,749…… Driveway offered me $46,429.
They already had a check ready for me when I handed over my jeep to them.

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