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JEEP SMC 08-15-2012 03:47 PM

Decisions Decisions
 
So i have a leased 2012 Laredo E GC. I love it. But I am constantly looking for things to add to it. I've already replaced the headunit to the 430N, added simple fog bezels and a few other tweaks. My wife thinks im crazy for putting more money into the car since its a lease. I am only 9 months into my lease and looking at 20" rims to put on it, as well as adding the katzkin leather.

Im debating turning in the lease early, having a $0 balance from the dealership and just financing a Jeep that has everything I want. Any thoughts or advice?

robpp 08-15-2012 03:58 PM

Re: Decisions Decisions
 
modding a leased vehicle is a waste/

JEEP SMC 08-15-2012 03:59 PM

Re: Decisions Decisions
 
I thought so too, but i was debating of just buying it out at the end of the term in 3 years but then i'd be paying more than its worth. I may just decide to bring it in early. I had discussed this with them a few months ago when i was only 5 months into the lease and they were very happy to pay the loan off and then start me off at a $0 balance for a new finance.

my intention was to remove all the mods before bringing it in and sell them here or on ebay and replacing everything back to stock.

Steeler 08-15-2012 05:39 PM

Re: Decisions Decisions
 
Quote:

Originally Posted by JEEP SMC (Post 671022)
I thought so too, but i was debating of just buying it out at the end of the term in 3 years but then i'd be paying more than its worth. I may just decide to bring it in early. I had discussed this with them a few months ago when i was only 5 months into the lease and they were very happy to pay the loan off and then start me off at a $0 balance for a new finance.

my intention was to remove all the mods before bringing it in and sell them here or on ebay and replacing everything back to stock.

When you lease a car you are obligated for all those payments. So, if you are 5 payments in a 36 month lease you still owe the lease company 31 payments. The only way your dealer could get around that, is actually buy the truck from you like a normal trade in. Depending on how much you put down upfront I would bet that you are way upside down. That means the difference will be packed in your new Jeep loan, plus the early termination fees most lease companies charge. Read the back of your contract, before making any decisions.

Doesn't, hurt to talk to your dealer, but find a good loan calculator on the web, to make sure that the numbers jive. I would bet it would be cheaper to mod your existing Jeep. But I would only do the bolt ons. Forget the leather.

Jim_in_PA 08-15-2012 08:18 PM

Re: Decisions Decisions
 
Quote:

Originally Posted by robpp (Post 671021)
modding a leased vehicle is a waste/

I have to agree with this. If you really want to tinker, you'll be better off as an owner. In fact, mod on a lease vehicle could actually cost you money when you go to turn it in. What you perceive as an improvement could very well be quite the opposite to the lessor.

MxRacer965 08-15-2012 08:49 PM

Re: Decisions Decisions
 
Agreed with everyone else, don't mod your lease. Non factory parts will probably cost you when you turn in. We leased a 2008 VW Eos Lux for my wife because we knew we didn't want a convertible after 3 years (that whole kids thing and a sporty convertible not being practicle thing ya know) so it made sense for us. We did a high mile (15k/yr) lease with zero down, kept the car in nice shape, had 44K on it when we returned it, and didn't have a single charge from VW. Stay away from mods, keep the car in immaculate shape, stay under the mileage limits and you'll be fine.

Fail to keep the car up, go over the miles, mod it, or fail do live up to your lease terms (length especially) and just hand the dealer your wallet, first born child, left nut, and walk away , lol

JEEP SMC 08-16-2012 05:01 AM

Re: Decisions Decisions
 
When I went to Jeep to speak about this, they said they would buy the car outright (which includes the lease payments). They say this is somewhat new, about 3 years now, which leasing companies allow to do since the economy is bad. I asked them specifically if anything wil roll into my new payments and they said no, but i will be losing my original down payment of my old jeep as my trade in. It seemed like a good deal at the time, but they didnt have the jeep I wanted so i didnt pursue.

All mods so far have been mopar, oem only. I know it doesnt make a difference but maybe itll help when i trade it in. Remote start and nav 430n, cant see that as being a strike against me, but who know.

Jim_in_PA 08-16-2012 08:00 AM

Re: Decisions Decisions
 
If you were going to work something out with the dealer, you'll want to do that sooner, rather than later, because of the quick effect of time (and new model years) on the dealer's resale value of the vehicle. If you can't do it soon, you'll probably be best served by waiting until the end of your lease and then buying a current model year vehicle, because your end-of-lease value (residual) is already calculated and fixed as part of the lease contract.

JEEP SMC 08-16-2012 08:29 AM

Re: Decisions Decisions
 
Quote:

Originally Posted by Jim_in_PA (Post 671285)
If you were going to work something out with the dealer, you'll want to do that sooner, rather than later, because of the quick effect of time (and new model years) on the dealer's resale value of the vehicle. If you can't do it soon, you'll probably be best served by waiting until the end of your lease and then buying a current model year vehicle, because your end-of-lease value (residual) is already calculated and fixed as part of the lease contract.

Very valid points. I might just have to grit my teeth and wait it out and buy a car in 2015. Maybe theyll have a 75th Anniversary edition :drool:

andyh 08-16-2012 08:32 AM

Re: Decisions Decisions
 
Quote:

Originally Posted by JEEP SMC (Post 671019)
My wife thinks im crazy for putting more money into the car since its a lease.

Listen to her

Sgman16 08-16-2012 09:33 AM

Re: Decisions Decisions
 
Quote:

Originally Posted by JEEP SMC (Post 671256)
When I went to Jeep to speak about this, they said they would buy the car outright (which includes the lease payments). They say this is somewhat new, about 3 years now, which leasing companies allow to do since the economy is bad. I asked them specifically if anything wil roll into my new payments and they said no, but i will be losing my original down payment of my old jeep as my trade in. It seemed like a good deal at the time, but they didnt have the jeep I wanted so i didnt pursue.

All mods so far have been mopar, oem only. I know it doesnt make a difference but maybe itll help when i trade it in. Remote start and nav 430n, cant see that as being a strike against me, but who know.

Check your lease agreement if it was through Ally Bank. I also lease my GC through Ally bank; if you look at the agreement, they charge an extra $ amount (I believe it was 2k) over the remaining capital cost if you buy it after the lease; and this also affects buying it out during the lease which is what your dealer will have to do to take it in since technically the bank owns it and that will definitely get rolled into your new vehicle. Basically they are saying they want it back at the end of the lease.

JEEP SMC 08-16-2012 10:20 AM

Re: Decisions Decisions
 
I will have to review the terms but I know I have US Bank


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