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  #25  
Old 11-19-2015, 10:25 AM
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Re: Would like some confirmation on lease figures, please

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Originally Posted by MD Boy View Post
Don't know if this is the right place to post - As I couldn't get the deal I wanted with an Overland or Summit, I went and leased a brand new '16 Range Rover to go with my '00 Jeep Cherokee.

I'm paying a little more a month for an $81k vehicle than the Summit, whis is $52k. Leases weren't as aggressive on the Jeeps than I thought they would be; especially with the '16's going into production.

Either way, drive your JGC's in good health.
Payment wise, how much was the difference? Assuming both were no cash out of pocket except for first month and reg fees?

Thanks!

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  #26  
Old 11-19-2015, 10:42 AM
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Re: Would like some confirmation on lease figures, please

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Originally Posted by 2015 High Altitude View Post
Most don't purchase their vehicle at the end of their lease however, some do for the purpose of keep their vehicle and others perhaps to sell it. Although resale values have been strong on the GC, often making it an attractive buy at lease end, one still has to go through the troubles of paying it off, paying sales tax on the purchase price and reregistering and titling (at least in most states) futher cutting into ones possible profits should they be looking to flip it.

The current lease incentives are great, offering an opportunity to lease for reasonable terms. I traded out of 3 Overlands this summer having equity in all. Two of them were less than 6 weeks into their lease contracts. These huge incentives will likely give many the unique opportunity to exit their lease early should they wish to at any time without worries of equity issues.
I'm halfway thru my 36 month lease on a '14 Altitude and I want to end it early and get the High Altitude. So are you saying I can get out of my lease early and have no penalty for doing so?
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  #27  
Old 11-19-2015, 02:10 PM
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Re: Would like some confirmation on lease figures, please

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Originally Posted by antjones21 View Post
I'm halfway thru my 36 month lease on a '14 Altitude and I want to end it early and get the High Altitude. So are you saying I can get out of my lease early and have no penalty for doing so?
There's no definitive answer that anyone here can give you on that. "Maybe" you can move up with no "penalty", maybe not. It depends upon the terms of your lease, the current trade-in value of your Altitude compared to the amount owed for lease payoff inclusive of any feeds and the interest your dealer has in making you a great new deal as well as the lease terms available "now" from that same dealer including incentives. There's a good chance things might work out for you if you can cop the big incentives, however, so there's no harm in speaking with your dealer after reviewing the terms of your lease.

If your vehicle value is equal to or higher than the payoff and trade in value, you might do well...if not, you may be better served financially by staying where you are for the remaining 18 mos and then moving up to a then-current model.
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  #28  
Old 11-19-2015, 03:10 PM
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Re: Would like some confirmation on lease figures, please

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Originally Posted by antjones21 View Post
I'm halfway thru my 36 month lease on a '14 Altitude and I want to end it early and get the High Altitude. So are you saying I can get out of my lease early and have no penalty for doing so?
You're not "ending your lease early" -- your just terminating it.

I've done it. Multiple times. In fact I just did it last week again when I traded in my leased '14 Overland and leased a '15 High Altitude.

I was 30 months into a 39 month lease on the Overland. My payoff was $32,100. The Jeep dealership gave me $32,500 on trade and I walked away with a brand new High Altitude without forking over a single penny. Not one. The payment went up by $6/mo for a vehicle that MSRP'd $6,000 more than my Overland.

I was a happy camper.

The only time you'll be penalized for ending a lease early is handing the keys back to the dealership and saying goodbye. But who does that?!

You can sell your Altitude privately right now or you can trade it in. Your call. It just depends what your payoff is. You might take a hit there.
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  #29  
Old 11-20-2015, 04:59 AM
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Re: Would like some confirmation on lease figures, please

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Originally Posted by Jim_in_PA View Post
There's no definitive answer that anyone here can give you on that. "Maybe" you can move up with no "penalty", maybe not. It depends upon the terms of your lease, the current trade-in value of your Altitude compared to the amount owed for lease payoff inclusive of any feeds and the interest your dealer has in making you a great new deal as well as the lease terms available "now" from that same dealer including incentives. There's a good chance things might work out for you if you can cop the big incentives, however, so there's no harm in speaking with your dealer after reviewing the terms of your lease.

If your vehicle value is equal to or higher than the payoff and trade in value, you might do well...if not, you may be better served financially by staying where you are for the remaining 18 mos and then moving up to a then-current model.
Well said!!!
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