TheRaven
Well-Known Member
- First Name
- Kevin
- Joined
- Oct 22, 2020
- Threads
- 5
- Messages
- 1,504
- Reaction score
- 2,028
- Location
- Reading, Pennsylvania
- Vehicle(s)
- 2021 JLU 80th
- Occupation
- Electrical, Mechanical, and Aerospace Engineering.
More expensive? Yes. A lot more expensive? Not really. You have to remember that while you lease at a rate roughly double that of standard financing in the case of the Wrangler, you are only paying that higher interest on a fraction of the total cost of the vehicle. So the effect is pretty small really. With vehicles other than the Wrangler you can often lease at a lower rate than you can finance. Add to that the fact that the money spent on higher car payments does not offer a return of any kind, while the money saved on lease payments will bring you interest, and that you can still buy out your lease and sell off your vehicle for a profit in some cases which can offset the cost and in rare cases even eliminate it entirely.Agree that it’s dumb to walk away from it at the end and, you are correct, any mods or beating it up won’t matter if you keep it. The problem is you will pay a lot more leasing first, then financing the residual at the end of the lease (assuming one does not straight purchase the residual at the end of the lease).
I think what it REALLY comes down to is this - are you the type of person who wants to buy your vehicle and keep it for the long term, pay it off and have no payments for a few years until it is no longer economical to keep it? Or would you rather just pay a smaller payment, all the time, for the privilege of driving a newer vehicle that's always under warranty? That's really the big difference. Heck in many cases the money saved on repair costs by always having a warranty (or on extended warranty costs by always having a factory warranty) alone can offset the extra cost of leasin.
If you think leasing a Wrangler is a bad idea, you are NOT good at math.Tsk-tsk. You assume I use standard financing products and my dislike for leasing is either through comparison of standard financing to leasing or some bad past experience with a lease. Neither is true. I'm good enough at math and finance to know that neither of these products are very good.
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