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Old 03-25-2011, 09:40 AM
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Leasing '11 GC Laredo X - Opinion/Comments

Hey folks, I'm brand new to this site as you can see by my status profile/status. I'm a regular at my350z.com and maxima.org since I have a Maxima, 350z and a Sentra. I've always been a very big fan of jap vehicles due to reliability and quality promises. Recently I sold the Sentra and Maxima and decided to get into an American SUV. After test driving '11 GC my wife and I fell in love with the jeep and decided to move forward with leasing one. The reason why i'm leasing is because incase I don't like it or run into aggrivating problems, I plan on returning it after 36 months and get into something else.

I need your opinion and feel free to add any comments regarding my decision. I am ready to pull the trigger on a '11 Blackberry GC Laredo with 26X package. Only option i've added onto it is 430N Nav, sunroof and remote start. The numbers match up to what our budget is but I don't know if it's good numbers according to you professional shoppers out there. It's 0 down with 540/month for 36 months. I just pay the 1st month payment and dmv fees on delivery. What do you guys think?
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Old 03-25-2011, 09:57 AM
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Re: Leasing '11 GC Laredo X - Opinion/Comments

Leasing scares me. I put ~6K down on m Laredo x-package and my payment is a few more dollars that yours is for a 5 year buy.

I looked at a lease but it didn't make sense for me though, I drive too much and I like to change things.

What is the buyout at the end? We figured we would lose 4-5 grand if we leased over a buy and turned it in at the end of the lease.
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Old 03-25-2011, 10:00 AM
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Re: Leasing '11 GC Laredo X - Opinion/Comments

That's a $19440 lease for three years. Seems like much.
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Old 03-25-2011, 10:36 AM
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Re: Leasing '11 GC Laredo X - Opinion/Comments

The thing is, its our first American vehicle. Many of you may laugh but owning jap vehicles for the last 10 years and listening to some horror stories from Ford and Chrysler owners, we were a little sceptical about owning one. If things go well and we enjoy the vehicle for the next 3 years, we may give this one back and perhaps purchase the next one.

Also, since the car industry is constantly changing, we would like to have the option to change vehicle without worrying about selling, trading and so forth. Just give it back and get into the next deal.

I also understand about modding your vehicle vs lease, that is why I have the Z. When the mod bug bites i'll just take it out on the Z lol.
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Old 03-25-2011, 11:12 AM
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Re: Leasing '11 GC Laredo X - Opinion/Comments

Quote:
Originally Posted by Sammzway View Post
Hey folks, I'm brand new to this site as you can see by my status profile/status. I'm a regular at my350z.com and maxima.org since I have a Maxima, 350z and a Sentra. I've always been a very big fan of jap vehicles due to reliability and quality promises. Recently I sold the Sentra and Maxima and decided to get into an American SUV. After test driving '11 GC my wife and I fell in love with the jeep and decided to move forward with leasing one. The reason why i'm leasing is because incase I don't like it or run into aggrivating problems, I plan on returning it after 36 months and get into something else.

I need your opinion and feel free to add any comments regarding my decision. I am ready to pull the trigger on a '11 Blackberry GC Laredo with 26X package. Only option i've added onto it is 430N Nav, sunroof and remote start. The numbers match up to what our budget is but I don't know if it's good numbers according to you professional shoppers out there. It's 0 down with 540/month for 36 months. I just pay the 1st month payment and dmv fees on delivery. What do you guys think?
Remote start is not a separate option with 26X, it is included in 26X. So if you are charged extra for it - its wrong. Can't comment on the cost of the lease.
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Old 03-25-2011, 11:39 AM
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Re: Leasing '11 GC Laredo X - Opinion/Comments

What is the MSRP on the vehicle? Seems like the residual is quite low (i.e., lease payments are high).

Do this the easy way: Call two other dealerships over the phone or on email and ask them for thier best deal on a similarly equipped. Make them compete for your business.

Get that least down under $500 a month!
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Old 03-25-2011, 11:57 AM
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Re: Leasing '11 GC Laredo X - Opinion/Comments

Folks, for whatever it is worth. I have leased vehicles from several different manufactures since 1989. I do consider myself an SME on the topic of lease's. Someone pointed out that a lease does not work for them, as they tend tend to rack up the miles on an annual basis. To that end, I agree. However, as far as overall costs over the life of ownership, Leasing is in rare cases the same as financing, more typically better than financing. Factors such as capital reduction (deposit), money factors (interest rate), residual value all are critical factors in a lease. Personally, I flip on average every 3 years. I lease typically with 0 down, or very little down. I negitotate the deal the same way, the lender typically works with lenders whom have the lowest available interest rate, highest residual value. Bottom line is, I pay for the use of the vehicle over the lease term. I maintain the vehicle the same as if I financed. I responsible for insurance, maintenance, repairs due to accidents, etc. Same as a financed vehicle. For the individual who put down a $6k deposit and financed the vehicle over 3, 5 or years. The #s will always prove out to be better with a lease. You avoid depreciation, you can put that $6k deposit in a financial vehicle that will earn you more than the JEEP or any other vehicle, which are all "depreciating assets". I know....what a rant....!!!!!
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Old 03-25-2011, 01:04 PM
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Re: Leasing '11 GC Laredo X - Opinion/Comments

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Originally Posted by CapecodJeep View Post
Folks, for whatever it is worth. I have leased vehicles from several different manufactures since 1989. I do consider myself an SME on the topic of lease's. Someone pointed out that a lease does not work for them, as they tend tend to rack up the miles on an annual basis. To that end, I agree. However, as far as overall costs over the life of ownership, Leasing is in rare cases the same as financing, more typically better than financing. Factors such as capital reduction (deposit), money factors (interest rate), residual value all are critical factors in a lease. Personally, I flip on average every 3 years. I lease typically with 0 down, or very little down. I negitotate the deal the same way, the lender typically works with lenders whom have the lowest available interest rate, highest residual value. Bottom line is, I pay for the use of the vehicle over the lease term. I maintain the vehicle the same as if I financed. I responsible for insurance, maintenance, repairs due to accidents, etc. Same as a financed vehicle. For the individual who put down a $6k deposit and financed the vehicle over 3, 5 or years. The #s will always prove out to be better with a lease. You avoid depreciation, you can put that $6k deposit in a financial vehicle that will earn you more than the JEEP or any other vehicle, which are all "depreciating assets". I know....what a rant....!!!!!
My neighbor leases all of his vehicles and loves it also. I don't get it though. Every financial planner I have spoken to over the years has said that leasing is one of the worst things you can do with your money. I don't know though, I have never leased a vehicle.

I like being able to sell the vehicle I bought for more than it is worth to someone before I get something new. I sold a 2000 Nissan Altima when I bought my Ford Fusion 3 years ago for $4500 to someone who liked old Altima's when the dealer was going to give me $1500 for it on trade. I am sure in a few years I will be able to sell this Jeep for more than market value. Put on a lift kit and different tires and sell it to some off-road junkie for $3K more than KBB is suggesting. That is the plan anyway.
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Old 03-25-2011, 01:44 PM
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Re: Leasing '11 GC Laredo X - Opinion/Comments

Thanks for all the feedback folks. Lease or finance, the decision is based on a person's interest and comfort zone.

I called a few dealerships prior to my decision. First dealer told me I would have to custom order a Laredo X and wait at least a month. They were trying to sell me a Overland and the vehicle would cost me 45k out the door. Second dealer told me the lease price would be 679/month with 0 down, they were trying to get me to put down $3k. I am NOT willing to put down any money since i'm leasing.

The deal i'm moving forward with is the Laredo X and the vehicle is $38k out the door (including tax). Originally they were asking $38k + tax + title + fees. I was able to push the dealer down to 35k. Only thing is, the vehicle is still in transit so I have to wait 1 more week to take delivery. This truck is selling like hot cakes around where I live, it's so hard to get one with all the options I want (which is a sunroof and nav).

No, the dealer isn't charging me for the remote start. I guess it's part of the X package. Only thing I wish I had was HIDs. It comes with halogen lights but oh well I can live without HIDs.
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Old 03-25-2011, 03:14 PM
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Re: Leasing '11 GC Laredo X - Opinion/Comments

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Originally Posted by Sammzway View Post
Thanks for all the feedback folks. Lease or finance, the decision is based on a person's interest and comfort zone.

I called a few dealerships prior to my decision. First dealer told me I would have to custom order a Laredo X and wait at least a month. They were trying to sell me a Overland and the vehicle would cost me 45k out the door. Second dealer told me the lease price would be 679/month with 0 down, they were trying to get me to put down $3k. I am NOT willing to put down any money since i'm leasing.

The deal i'm moving forward with is the Laredo X and the vehicle is $38k out the door (including tax). Originally they were asking $38k + tax + title + fees. I was able to push the dealer down to 35k. Only thing is, the vehicle is still in transit so I have to wait 1 more week to take delivery. This truck is selling like hot cakes around where I live, it's so hard to get one with all the options I want (which is a sunroof and nav).

No, the dealer isn't charging me for the remote start. I guess it's part of the X package. Only thing I wish I had was HIDs. It comes with halogen lights but oh well I can live without HIDs.
I leased a 2011 Overland with rear DVD for 36 months and 10,000 miles a year. With my trade in and Tread lightly dicount I got the lease price down to just under $36,000. MSRP was over $44,000, my payments are $493.00 a month and this includes tax.
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Old 03-25-2011, 04:24 PM
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Re: Leasing '11 GC Laredo X - Opinion/Comments

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I leased a 2011 Overland with rear DVD for 36 months and 10,000 miles a year. With my trade in and Tread lightly dicount I got the lease price down to just under $36,000. MSRP was over $44,000, my payments are $493.00 a month and this includes tax.
That's a great price. I didn't trade anything in and I get 15000 miles a year. How much was your trade in worth? Im not really crazy about the overland edition though. I wish I had more time in my hand so I can travel to a different state and bargain but im so busy with work that I lack time.
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Old 03-25-2011, 05:13 PM
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Re: Leasing '11 GC Laredo X - Opinion/Comments

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That's a great price. I didn't trade anything in and I get 15000 miles a year. How much was your trade in worth? Im not really crazy about the overland edition though. I wish I had more time in my hand so I can travel to a different state and bargain but im so busy with work that I lack time.
I was returning a 08 Grand Cherokee Limited Lease, the buyout or residual was $19,800, but the trade in value was $25,500. So the dealer bought the jeep from the leasing company and gave me the difference toward my 11 overland $5700. My 08 was super clean and only had 13,800 miles on it, the dealer had it for sale the next day for $29,900. I believe they sold it within two weeks.
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