Removing decals with a lease

DaltonGang

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Ok Dave Ramsey, did you even read my post? You're basing your analysis on an uniformed oversimplified version of how leasing works.

As I stated above, you DO NOT abandon equity with a lease, that's one fatal flaw in your analysis. That, and your 21 year old wrangler will not be worth 80% of it's original value.

You may want to do some research before preaching to any more "millennials".
Plug in whatever percentage of equity you want, when you own and sell your Wrangler. Now, you keep implying there is equity in a leased vehicle??? I call Bullsh#t on that. At the end of your leases, ask them to cut you a check for the "Equity" you have built up. See how fast they laugh at that request.
I think you are confusing "NonRefundable Credit" with true "Equity". I
the Credit on a lease is how they sucker the financially inept into a leasing trap. Like I mentioned, leases are great, for businesses, who are able to write them off.
BTW, I've never read, or subscribed to "Dave Ramsey". I just use common sense, passed on to me, by my Grandparents, Parents, Aunts and Uncles, who are all very successful, finantially. They started with nothing, and ended up with millions, almost every one of them.
Isn't only the millennials, who need financial lecturing, but those of all ages. Unfortunately, many cannot grasp basic rules of being fiscally resposible, and reason their way into irresistible financial decisions. "I want it now", and "I want what the neighbor has", mentality.
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Jjirish

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Why not just have the dealership remove them at your next oil change?
 

Jjirish

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The Last Cowboy

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Most who are sold a lease at the dealer, and I mean the vast majority, are going to turn it in and only shop a payment. They get taken with a cap cost reduction from the get go and get financially raped in the F&I office. Why would anyone buy “protection packages” and an extended warranty on a leased vehicle? Or at all even? Very few lease customers are well versed on the nuances of how to handle signing for one.

Now, the same can be said for most retail buyers. But at least they usually have some kind of idea of what they paid and what they owe.

Bottom line, if you always have to have the latest and greatest, lease short term and know exactly, can’t stress that enough, what you are signing for. Most who I have talked to about their lease that they want out of can not do it. They are tied to it until the end. Many are paying more than if they just bought it wisely in the first place. Take a loan calculator phone app with you to dealer with you. Before phone apps, I would take a amortization handbook and a Kelly blue book to the dealer with me. Man. They hated that!
 

Cavs42

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I would certainly clear it with the leasing company, unless you plan on replacing them before you return it at the end of your lease. The number of people that got all squirrelly at me on Facebook for removing my Rubicon decals was laughable!

If it's just dealer stickers or the like, I'd remove them without blinking.

why would you?
If you want to personalize "your" vehicle, sometimes they're in the way! I loved my decals, but they were in the way of what I wanted for my Jeep. (To be clear, the bank owns my Jeep, it's not leased).
 

The Last Cowboy

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@DaltonGang

There can be equity on a leased vehicle, if the lease was done right and the owner is well versed enough to realize that and seek it out. In most cases the dealer hold back a big grin as they take the keys to a lease turn in. I mean, those are the terms agrees to, right?

Turn it in as they distract you and let them show you the shiny new 2024s that just arrived. “Hey buddy! Look at this one in Metallic Pearl Guacamole with an 18” screen! Limited edition, better hurry! Let’s work up some numbers…”
 

DaltonGang

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@DaltonGang

There can be equity on a leased vehicle, if the lease was done right and the owner is well versed enough to realize that and seek it out. In most cases the dealer hold back a big grin as they take the keys to a lease turn in. I mean, those are the terms agrees to, right?

Turn it in as they distract you and let them show you the shiny new 2024s that just arrived. “Hey buddy! Look at this one in Metallic Pearl Guacamole with an 18” screen! Limited edition, better hurry! Let’s work up some numbers…”
And, how do you get your "Equity" back, if you no longer wish to participate in their lease program?
 

DaltonGang

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To call it like it is, when you "Lease" a vehicle, you are paying "Rent" for the use of that vehicle, with attached stipulations. Now, at the end of you lease contract, if you want to "Rent" another vehicle through them, they will throw you a little "Discount on the Rental"(they call it equity). But, in reality, they have you on the hook, for making rental payments, for the next three years.
I know all of this doesnt sit well, with many around here. But, sometimes reality is "A hard pill to swallow"(this is called an "Idiom" folks).

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The Last Cowboy

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And, how do you get your "Equity" back, if you no longer wish to participate in their lease program?
You have to shop it around and hope to get more money than the agreed on residual value. Some enjoy all of the extra wheeling and dealing. I don’t so I buy and keep. I don’t want the latest tech, biggest screen or newest color.
 

csjlu

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And, how do you get your "Equity" back, if you no longer wish to participate in their lease program?
Many forum members have used Vroom. Others have used Carvana. The market is so tight where I live, you could write "4 sale" on the windows with shaving cream and only have to drive it around for an hour before you'd have your equity in hand.
 

GATORB8

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Plug in whatever percentage of equity you want, when you own and sell your Wrangler. Now, you keep implying there is equity in a leased vehicle??? I call Bullsh#t on that. At the end of your leases, ask them to cut you a check for the "Equity" you have built up. See how fast they laugh at that request.
I think you are confusing "NonRefundable Credit" with true "Equity". I
the Credit on a lease is how they sucker the financially inept into a leasing trap. Like I mentioned, leases are great, for businesses, who are able to write them off.
BTW, I've never read, or subscribed to "Dave Ramsey". I just use common sense, passed on to me, by my Grandparents, Parents, Aunts and Uncles, who are all very successful, finantially. They started with nothing, and ended up with millions, almost every one of them.
Isn't only the millennials, who need financial lecturing, but those of all ages. Unfortunately, many cannot grasp basic rules of being fiscally resposible, and reason their way into irresistible financial decisions. "I want it now", and "I want what the neighbor has", mentality.
A part of the lease contract is a Residual Value, which is a leasing company wide percentage of MSRP of the vehicle. That is the amount that you can purchase the vehicle for at the end of the lease. There is a nominal fee for this (I think CCAP is $350). That transaction can happen within the closing transaction at the dealer, so you can "trade in" your leased vehicle for market value and pay out the Residual buyout in the same transaction, netting the equity.

Recently the leasing companies have been monkeying with third party <60 day buyouts with the current used market). Prior to that change, you could litterally go to carmax or Vroom toward the end of your lease, and walk away with the equity check, now you need to do it 60 or so days before the end.

And, you can also buyout the lease in cash or finance at the end. Keep the car as long as you want, and trade or sell it at your convienience.

I will say, you NEED to know what your doing if you are leasing, it is not something I'd recommend for someone who's not willing to put in the effort to research and understand the process. A lot of vehicles don't lease "well" and leasing those is normally a bad proposition.

It's not uncommon to be able to lease a Mercedes for less than the equivalent Honda.
 
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The Last Cowboy

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In the furure I can see leases worded to have a penalty if you sell it outside of the contract. The finance companies want these back. They can be bought back by the dealer where many are sold as certified used at near new prices or go to auction and get snapped up by Carvana, Carmax, etc

So, if I were leasing a new Jeep, I’d change nothing becuase I wouldn’t want any value lost. An unmodified, stock Jeep is always worth more at trade in than a modified one. As a matter of fact, many dealers will deduct value based on what it would cost to get it back to stock. If it’s too much they will offer auction price or pass on the trade.

As far as Euro luxury cars. I would always recommend a lease, or to not mess with them at all. You definitely don't want one when the warranty expires. And when they update styling or equipment, the outdated ones fall in value terribly.

The only way to buy one is one owner, low miles used, previous body style. And then you still get stuck with outrageous maintenance and repair costs.
 

AG’s ‘ 21 Jeep Wrangler

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Thats a typical misconception about leases. You can always buy your lease from the leasing company at any time. If you can sell it for more than your residual value, buy it, then sell it or keep it. I did it on my last lease on a 2013, I bought it at the end and pocketed $10,000 even after paying the sales tax. Over miles? Buy it. I never return leases unless the residual value is upside down, let them eat the loss. If your residual value is under the selling price at that time, just buy it. Many say, “You don’t own your lease”, well, you don’t own your car if it is financed either, the bank does until you pay it off. If you lease a car that is a lemon, return it and it’s their problem, not yours…Leasing is not for everyone, but many don’t really fully understand leasing.

For the life of me, I don't understand why anyone would Lease a Jeep Wrangler. The resale on them is so high, you will recoup much of what you have paid into it. A lease on the other hand, is like renting an apartment. Zero equity when you move out.
A lease only makes sense, if you use the vehicle strictly for business purposes, or if you want a high end vehicle, that depreciates in value drastically.
Then again, I know people that lease cars/trucks, that they otherwise cannot afford to buy, due to financial reasons. Solution, drive what you can afford, save your money for a few years, then purchase what you really want. Financial self control.
I'm not saying this is the case of the OP, on this thread, but it's just advise in general.

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Dave928

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Why wouldnt you? They are boring. Jeeps should be personalized. That would be a cool poll. 😎
except it isn't yours to personalize, it's the leasing co's. remove the stickers all you want when you (by way of a bank) own it.
 

Dave928

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If you want to personalize "your" vehicle, sometimes they're in the way! I loved my decals, but they were in the way of what I wanted for my Jeep. (To be clear, the bank owns my Jeep, it's not leased).
they may be in the way, but it isn't your vehicle when it's leased. which is what this thread is about.
 
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