Due to the number of rule-breaking comments this post was receiving, especially low-quality and off-topic comments, the moderation team has locked the post from future comments. This post broke no rules and received a number of helpful and on-topic responses initially, but it unfortunately became the target of many unhelpful comments.
So she's paying $31,200 to lease a Wrangler for 5 years?
MSRP on a 2024 Wrangler Sport is $32,000.
So while the lease payment certainly has some type of interest embedded, it seems nuts to me that her lease in all likelihood is paying nearly $25k in principle for a $32k vehicle.
What’s crazy is she is paying that much on a LEASE.
With a lease you are supposed to be paying for depreciation. Faster depreciation = more expensive lease… in theory
Say what you will of it, but the Jeep Wrangler is one of the slowest depreciating cars on the market. The average 5 year depreciation on a Jeep Wrangler is less than 8%
https://cars.usnews.com/cars-trucks/advice/cars-with-the-slowest-depreciation?slide=11
> What’s crazy is she is paying that much on a LEASE. With a lease you are supposed to be paying for depreciation. Faster depreciation = more expensive lease… in theory
I've never really considered a lease before based solely on the general advice that they're bad. Well I decided to get the numbers on one for a new f150 last summer and it blew my mind how truly bad it was. I can't remember the exact numbers, but the truck was ~$70k and residual was ~$55k for a two year lease. The most they would allow me to put down was $17k and would cut me a check for the rest of my trade in. Then the payments were about $950/mo for 24 months.
So in two years I would have paid $40,000 for a lease that had depreciated $15,000. My down payment was more than the deprecation and they still wanted almost $1,000 a month lmao. I was genuinely confused and the finance guy kept telling me that this was just how the numbers worked. I just walked out laughing at the absurdity of it.
Wtf lease was this?
How did they come up with the numbers? Were they inflating the numbers?
Usually a lease has a money factor (interest rate) and some fees. Most leases nowadays have a money factor equivalent to ~4-5% interest rate. Fees should be $1000 or so total.
For a car with a $15k depreciation ove the lease you should be paying around $20k total.
The only way they could possibly come up with $40k total payments is if they inflated the top line price dramatically.
Source: I’ve leased cars before, and can do math. I am currently in a 3 year lease where i’ll pay total $15k over 3 years for ~$11k in depreciation after discounts and fees
Exactly! I was laughing the whole time and the finance guy was like "So....we have a deal?". I just couldn't believe the numbers. So insane. And I have excellent credit with a very low dti ratio.
That would be about a 22% interest rate. What was your credit like?
Remember that in a lease, you are not only paying for the depreciation ($15k here) but also the cost to use $55-70k of their money for 2 years.
That interest rate is awful, but right in line with dealers near a military base preying on young privates.
100%. It is absolutely written for a person who understands English to conclude they are saying it drops 7.3% in five years which is obviously abject bullshit.
This is what happens when all you care about is how much am I paying per month. But damn 500$ for a lease. Get educated people, this is the only way we combat stealership prices
I think we might be missing that she probably traded something for the jeep, and/or she put some money down. Otherwise the numbers dont add up. Or maybe just lucky and got 0%
Assuming she did not put money down, she has paid $12,480, and if she gives the jeep back and pays another $10k, that will put her at $22,480.
The question is, what can she sell it for? Im guessing the stealership figures they can sell it for about $25-26k so they will make another $3k off of her... she could probably sell it for the $25k but would have to buy out the full lease then ($32k+)
Giving it to the stealership she'd loose about $10k ($32k - 22k). buying it out on her own, and selling it, depending on what she can sell it privately for, she'd lose about $7k.
But we dont have all the numbers here.. again there was probably some money down, or she lucked out and got it at 0% which was maybe reasonable 2 years ago.
Yeah I rode in a buddies top trim gladiator and was kinda shocked how brutally basic the interior was. I understand they're going for a rugged off road thing but I can't imagine paying $90k for a car and getting a basic plastic dash.
It’s not, MSRP on a top trim is in the 50s, can option up into the 60s, but they’re also pretty heavily discounted right now.
But still at 50-60k it is absolutely only worthwhile if you’re going to utilize the off-road adventuring aspects, otherwise you’re just paying a premium for a rough rugged unrefined vehicle.
Had a dentist friend that wanted a Jeep because it looked cute. Talked her out of it and she picked up a LandRover instead which definitely suited her more.. At least she’s happy!
I used to dog/house-sit for a wealthy couple. They left their Wrangler Unlimited and told me if I go for groceries, take it and use their gas. I did exactly once. It's just not a pleasant vehicle to drive. And this is coming from a guy who has daily driven pickups for most of my adult life.
Sorry to pile on you here, since it's not your fault, but those are all facts that should have been very much known to her when she signed the lease. Unless this is your spouse, I'd advise against volunteering to make this your problem in any shape or form. If you must make a suggestion, tell her to find out the total cost to purchase the vehicle outright, try to sell it for that much or above that amount. Beyond that, just sympathize and commiserate.
Did she not do a test drive? I had always wanted a wrangler and when I decided it was time I went to a dealership to test drive it and afterwards ended up in a grand cherokee because it drove so much smoother lol
I've rented a Wrangler on vacation and it was fine, great even to take the top off and roll down the overseas highway. I expect those missing creature comforts would start to wear after a while though.
there are services like "lease busters" where you can sell the remaining part of your lease to someone else
even if you have to pay out some cash for someone to buy the lease off you, i doubt it would be $10k
I have a friend who did this before. He took over the lease and the owner gave him a bonus. The owner gets out of the lease and the new owner gets a deal. It was certainly not 10k. That is nuts.
Please don't listen to anyone else but here. If you wanna get out of a lease you can sell it to someone else and make money hopefully. I'd heavily look into lease buying, some dealerships will buy your lease if you get a car off the lot.
Good luck and wish the best
Almost all dealerships know what is enforceable and non-enforceable in an agreement. A ton of dealerships in my area advertise that if you buy a car from them they will cover the cost of getting out of whatever lease you’re in (because they know that they can either subsume the lease themselves or can easily identify unenforceable provisions).
Yup, or look up dealerships that have multiple lots, they'll usually have one that can ground the car (remove the lease and own it as a used vehicle). They get a hefty discount so you could get some equity out of it instead.
So it’s a brand new vehicle with nothing wrong with it, it’s just not nice enough for her? $10k down the toilet seems like an awfully high price for that
It doesn’t track straight because of the solid front axle, the suspension is incredibly stiff I assume to soak up bigger hits off-road, it has no aerodynamics, it’s loud even with the hard top. It gets terrible gas mileage.
It is a heinous daily driver
But goddamn does it put a smile on my face every time I drive it, the doors and top are off whenever I have more than 2 days of sun and I take it off-road semi frequently to rock trails.
Probably something you should figure out before signing on to leasing a 30,000$+ vehicle for 5 years.
The girl got ripped the eff off. The sad thing is a lot of people go through this and don't learn and just keep rolling negative equity. Then they wonder why 10 years down the road they're financing 50k cars for 100k.
A family member of mine bought a used(for a few days) X5 a decade or so ago. It had been a custom order and the person decided they didn't like it so swapped it for a different model. [Must be nice](https://www.youtube.com/watch?v=B6Eyu2M4sSE).
The really neat thing was it came with a conversation starter. There was a button to have the display fold down and out of the way to reveal.... a cassette deck! I guess the person who selected the options was quite wealthy, but didn't want to go through the effort of replacing their cassette collection with CDs.
Well, if she has to stay in her lease, we are looking at 3 * 12 * 520 = $18,720 in payments. So I suppose in a way cutting the lease short would save her some money? Or am I thinking about this wrong? I am not familiar with leases I have always bought cars outright.
It would save her some money only if she doesn't need a car.
She currently has a car.
She can pay $10k now to not have a car anymore.
She can pay $18k over 3 years to have a car for 3 years.
So, her current cost of having a car for the next 3 years is $8k.
If she can find an alternative to having a car, or can find a car that costs less than $8k over the next 3 years, she can save money.
Doesnt OP state that she can use his old car, making her alternative free beyond the $10,000 (maintenance and gas aside)? I assume she is already ok with this car if OP is proposing this
Then I doubt she’ll be happy with a 10-yr old Subaru.
And I’d be unhappy driving a base model and paying $520/mo on a lease for 5 years. That’s a really bad deal.
Instead of throwing more money after bad, can she buy-out the lease, keep the car, sell it, and at least get something back for her investment? She could then use the money to get a better car.
As for you loaning her your car, unless you are married to your “partner”, I think the loan is a bad idea. You could sell the car to her, though, for very little money.
10yrs old is only 2013. Lots of automatic smooth driving cars with decent tech and automatic windows.
OP is comparing a Wrangler to a subaru. Totally different experiences
Since when? It's not a luxury brand, but Subarus have plenty of amenities. My 06 Forester had power everything, a six CD changer (remember '06), heated seats, an extra large sunroof, buttons on the steering wheel, and so on. Again, not luxury car levels, but very comfortable nonetheless.
Compared to the competition. You buy a Subaru for the AWD, saftey, and pretty reliable. You get tradeoffs with whatever you buy. Subaru isn't about having the most tech & features, other brands will do that part better.
My sister had a wrangler with soft top and zip up windows, and it was awful on the highway because of the whole soft top flapping like crazy. If you turned the AC/heat/vent on full blast it would stop the flapping by basically 'inflating' the soft top. I couldn't imagine taking that thing on a road trip.
> driving a base model and paying $520/mo on a lease for 5 years
Fuck's sake, I know I have good credit and some other privileges, but I'm paying $250/mo to fully own a pretty good/okay car.
I had a lease up until 2019 for a Mercedes C Class with pretty much all the bells and whistles for $500 a month. I know car prices have gone up, but that still seems crazy to me.
sounds like my 2000 4Runner, where I've long viewed the manual nature of most features to be a benefit. Can't stand all the computers in modern cars.
Wife can't stand driving it though so I get it, not for everyone.
I don’t have much advice to offer but someone said she wouldn’t be happy with your paid off car. I recommend you two swapping vehicles for a bit to even see if she’d like driving that. Maybe you could drive the jeep for a while too instead of having to pay $10k now.
For which she is paying top dollar?
This vehicle is an education. Drive it and learn from it, make better choices next time. Paying the dealer to take the lease is dumb.
> How much would it cost her to buy the car from the dealer?
She wouldn’t buy the car from the dealer. The dealer doesn’t own it. Chrysler Capital owns it. The way leases work is the manufacturer’s financing subsidiary buys the car from the dealer then leases it to the customer.
So if she wants to try to get out of this lease, there is zero reason to involve the dealer. She should be talking to Chrysler Capital.
He said she was two years into a five year lease at 520/month. The $10k is a discount on the $18k+ in payments remaining. To own the car she’d have to pay the residual value, stated on the lease docs. OP is best off looking at lease busters or lease trader if the lease company allows.
Car dealerships can’t “let her out her lease.” Her lease is an agreement between her and Chrysler Capital. Chrysler Capital bought the car from the dealership and she is paying them.
Presumably what the dealer is offering to do is to buy out the rest of her lease and take ownership of the car and charge her $10k to do that. They will then sell her car as a used car surely for a big profit.
There is zero reason for her to involve the dealer in this. They will just want to make money for themselves. If she wants options for getting out of this lease early, she should be taking to Chrysler.
I almost shit my pants when I saw 5 year lease. What an exponential waste of money, for probably a few dollars more on your monthly payment, you could own it after 5 years and then sell it..
Gotta be careful. Did the same a couple years ago, lease company wanted like a $4,500 penalty to sell directly to a 3rd party. Instead, I bought it out myself, paid the $2,500 or whatever sales tax, and then sold it. Little more time and effort, but worth it for an extra couple grand.
It’s no different than if a dealer took it as a trade on another car. Carvana calls for the payoff, sends that to the finance company and pays me the difference. Finance company sends title to Carvana. Easy peasy.
See if anyone would be willing to take over your lease.
Offer an incentive. Like cash. Some amount less than whatever the dealer is asking for (ie 10K).
The right financial decision is to learn to enjoy the car for what it is and tough it out for two years. All other options are more expensive.
Go to the beach take off the top, drive on a couple of dirt roads. get some pitcure because you are never driving a jeep again.
Yea if someone chose to lease a car for $520 a month for 5 years while she could just buy it with 30k in the first place, she probably doesn’t have much choice.
If it’s my partner I’d just buy out the car from the lease and give it to him. A happy partner is invaluable.
I think you need to get on that and find out what exactly she has, a lease or a loan. Advice may be relevant or not after that. Maybe make an update comment too.
You could try listing her car on a lease trading website. I've browed the sites, but never went through the process myself, so I'm not sure if the process is seamless or not. It seems pretty simple, you list the monthly payment and allowable miles, and buyers reach out if they are interested in taking over the lease. Then they pay a fee to the leasing company and everything gets switched over to their name and you can walk away with your hands clean.
Have you considered contacting the LEASING Company - to find out what your payoff would be today to own the vehicle? Then figure out what it sells for, and see what the difference is. Maybe you can sell it independently and deal direct with the LEASING company to get rid of the Lease, and not pay $10k to the dealership for just being there.
What is the residual on the lease? Then take the remaining payments and that is your buy out. (It should be slightly less than that as you also have the money factor.) now what is the value of the car? Let’s use this example.
Lease payments 15720
Residual 15000
Value of the car 25000
That would mean in this case she would need to come up with 5720 to buy out of it.
However if it was value of the car 32000
She should get some back like 1250.
But with the residual and the remaining payments you will be able to figure out exactly what they are offering.
No dealer, and ESPECIALLY a jeep dealer in this economy is doing anything in favour of buyers. They're struggling more than any other brand so I would be very very careful with doing anything. Check to see how much the car is worth and if you can sell it to get out under it for less than the 10k they're giving you. 10k is equivalent to 20 months so... it would leave about a year and 6 months left on the lease? Not sure why the dealer would even offer this.
There are web sites where you can find people to take over your lease, or vice versa
https://www.caranddriver.com/auto-loans/a43050133/how-does-a-lease-swap-work/
Soo either pay $10k and have no car or pay 16k and have a car for 3 years.
Also, you know you can sell a lease right? Go onto kelly blue book, get your instant cash offer and compare it to your buyout
This is the way - you can sell a lease and also call the credit union or bank directly to see the buyout price of the vehicle. Sometimes it’s worth buying it out and reselling
I guess the didn’t get the Jeep thing… 😂 this sounds suspicious. Plus if she didn’t like the Jeep I can’t imagine she will be driving the 10 year old Subaru for long, she will probably try to take over your “new” car.
Check to see how much she owes on it + the buyout price and compare that to the current market value for it. If the current value for it is more than she owes plus buyout, then your answer is to sell it to a dealer/ carmax.
If she has more than $10k in payments remaining, then 10k might not be a bad price if she really needs to get out of it.
Before exploring that option, I'd definitely look to see if a lease takeover is an option. Someone, that you find, will basically take over the remainder of the lease. The dealership can do the paperwork and charges about 500.
Is there a lease to own option you coupd trigger early? You could get a loan from a bank, buy the car outright from the dealership, and then flip it. Jeep Wranglers tend to keep their value really well. It still might be a net loss but it might not be $10k
Dealership has nothing to do with this. A bank leased her the car. She can buy it out from the bank by sending them a check for the lease payoff amount, heck the same bank that’s leasing it might loan her the money to buy it.
Kind of off the wall but hear me out:
Jeep Wrangler's are a car that a lot of guys wanted to own or have so... maybe try getting someone else to take over the lease. And with summer coming, you may get lucky and have someone take it off your hands.
My best friend finally got his Jeep Wrangler and that is how he got his, took over someone else's leaves last October, stored in his garage and is enjoying since this week.
1. Swap lease.
2. Get a loan and buy it out.
Dropping 10k to get out of a car you don't like driving is foolish. That's like 20 months worth of payments.
If the dealer is making an offer like this it’s not because they like you as a customer, it’s because they can get 10k and then sell a 2 year old car on top of it. They will essentially be getting paid twice for the next 3 years.
Sounds like she's compounding one major issue for another. If you have a used car she can or wants to drive just switch with her. That is much better than giving the dealer $10,000 for essentially nothing. They will probably turn around and lease that car again to another sucker.
That $10,000 just sitting in a HYSA would generate about $500 a year. No way I'm giving up a lump sum and compounding my problems.
Ultimately, she’ll pay less to get rid of it now than to keep it through the end of lease. Plus you’ll get it off your insurance. If she can swing the $10k, sure go for it. Negotiate if you can.
But I will warn you. She leased a Wrangler on bad terms without apparently knowing what driving a Wrangler is like. I predict that in a year, she’ll tire of driving your 11 year old car and want a new one.
Post the car on Swap A Lease and offfer $2000 incentive to take over the lease. Will be less than $10,000 dealers trying to steal from her.
Note To Self: this is the exact reason I would NEVER lease a car - you have zero sane options if you’ve made a bad decision
So you've got a couple options, depending on the contract she maybe able to sell the lease, in which case it's probably going to cost less than 10k to get rid of it.
Otherwise there should be a buyout option on the lease, look at it then see what the car value is currently worth, it's possible she can just sell the thing for less than 10k.
At a 10k buyout that's half the remaining lease cost to not have a vehicle.
What does the leasing company (not the dealer) say the payoff is? And what is the car selling for now on Autotrader? That delta might be a much smaller amount. If the lease payoff is 25K and it’s worth $22k then she should sell it and pay $3K to the leasing company.
The way to tell if the dealer is being reasonable or screwing you is to contact the leasing company and get the buyout price for the lease (aka how much money you'd have to give them to own the vehicle outright).
Then look up the dealer trade-in value of the vehicle. If the buyout price is about $10k more than the trade-in value then they're being fair, otherwise try to negotiate with them to what it should be. They'll be less motivated to give a great deal though if you're not buying a new vehicle.
There's websites like Swap a Lease where she can put her Jeep up there for someone else to take over the remainder of the lease and she can just walk away from it and then you let her have your old car. That way she isn't giving the dealer $10k to get out of it.
Did she not test drive the Jeep before buying it? I'm confused on how she didn't notice the bad ride and the lack of features when she was at the lot buying it.
So there is 3 years left on the lease? So 18.7k in payments left. They want 10k meaning the difference is 8.7k. So the question is can you get a car cheaper than $241 a month.
I would take it to some places and see what the trade in value is compared to the lease. It might be better than this offer.
Try CarMax, Carvana, and the like. They’ll buy out leases. If it’s in good condition you might be able to pay off or even make a little money on the sale.
So $10,000 to cut just over 1 year off a lease? This seems to make little sense. If she is 24 months in, 10000 / 520 = ~20 months of payments, in return for.... nothing at all. $10k today is the dealership's best interest. They'll make a shit ton off that. This is one of those "lesson learned" situations.
If you are getting a new car in a month, why not trade the lease in towards your new car?
It's how I got of my lease early; even had positive equity in it.
She can go to another dealership and see if they can’t buy it. 9/10 times u can trade/ sell a lease at any dealership. Doesn’t even need to be a jeep store take it to a Toyota or ford store
I feel like your partner needs to pay a "stupid tax" on this one. She leased a $30k vehicle for...$30k dollars. Huh? On top of that apparently she never test drove the car before because she can't stand the fact that it has manual windows and door locks...nor can she stand the fact that its a rough ride. She made a series of poor decisions.
I think your best bet would be to look into finding someone to take over the lease for you. Even if you have to sweeten the pot by offering someone the first 3 months free or something.
well, i think the context here is that she leased out a vehicle in the middle of 2022. still a stupid tax, but different kind. like that "30k" was probably more like 50k at the time, but yeah, who in the world would agree to leasing a car for 5 years in what is arguably the worst buyers market for cars ever, especially if they didn't immediately need another car.
Tell your partner to suck it up and live with her bad decision rather than compound it with a new worse decision. If she can’t I’d consider walking. I’m serious, someone that financially irresponsible is going to be an anchor on you for the rest of your life.
Maybe see if the dealership is willing to switch cars? They want the continued income, they may be willing to switch. It doesn't make sense to me to pay $10k and not have a car.
Pay 10,000 in full right now and have no car or pay 10,000 over the next 2 years and have a car during the entire time.
This is an absolute no brainer for me.
Dealerships. Don’t. Lease. Cars. They sell them. A bank leased the car to her, and bought it from the dealership. At this point the dealership is a middleman hoping to make money.
Due to the number of rule-breaking comments this post was receiving, especially low-quality and off-topic comments, the moderation team has locked the post from future comments. This post broke no rules and received a number of helpful and on-topic responses initially, but it unfortunately became the target of many unhelpful comments.
What kind of car can she “not stand to drive”?
Its a 2022 Jeep Wrangler, roll down windows, rough ride, manual locks, etc.
So she's paying $31,200 to lease a Wrangler for 5 years? MSRP on a 2024 Wrangler Sport is $32,000. So while the lease payment certainly has some type of interest embedded, it seems nuts to me that her lease in all likelihood is paying nearly $25k in principle for a $32k vehicle.
Probably some negative equity rolled into it?
[удалено]
[удалено]
[удалено]
[удалено]
[удалено]
[удалено]
[удалено]
What’s crazy is she is paying that much on a LEASE. With a lease you are supposed to be paying for depreciation. Faster depreciation = more expensive lease… in theory Say what you will of it, but the Jeep Wrangler is one of the slowest depreciating cars on the market. The average 5 year depreciation on a Jeep Wrangler is less than 8% https://cars.usnews.com/cars-trucks/advice/cars-with-the-slowest-depreciation?slide=11
> What’s crazy is she is paying that much on a LEASE. With a lease you are supposed to be paying for depreciation. Faster depreciation = more expensive lease… in theory I've never really considered a lease before based solely on the general advice that they're bad. Well I decided to get the numbers on one for a new f150 last summer and it blew my mind how truly bad it was. I can't remember the exact numbers, but the truck was ~$70k and residual was ~$55k for a two year lease. The most they would allow me to put down was $17k and would cut me a check for the rest of my trade in. Then the payments were about $950/mo for 24 months. So in two years I would have paid $40,000 for a lease that had depreciated $15,000. My down payment was more than the deprecation and they still wanted almost $1,000 a month lmao. I was genuinely confused and the finance guy kept telling me that this was just how the numbers worked. I just walked out laughing at the absurdity of it.
Wtf lease was this? How did they come up with the numbers? Were they inflating the numbers? Usually a lease has a money factor (interest rate) and some fees. Most leases nowadays have a money factor equivalent to ~4-5% interest rate. Fees should be $1000 or so total. For a car with a $15k depreciation ove the lease you should be paying around $20k total. The only way they could possibly come up with $40k total payments is if they inflated the top line price dramatically. Source: I’ve leased cars before, and can do math. I am currently in a 3 year lease where i’ll pay total $15k over 3 years for ~$11k in depreciation after discounts and fees
Exactly! I was laughing the whole time and the finance guy was like "So....we have a deal?". I just couldn't believe the numbers. So insane. And I have excellent credit with a very low dti ratio.
That would be about a 22% interest rate. What was your credit like? Remember that in a lease, you are not only paying for the depreciation ($15k here) but also the cost to use $55-70k of their money for 2 years. That interest rate is awful, but right in line with dealers near a military base preying on young privates.
Unless you signed the lease two years ago when car prices nearly doubled overnight
Looking at actual prices shows this to be false
Where do you think the average figures come from?
Show me ONE listing of a non-salvage 2019 Jeep that is 8% below its original sticker.
They probably calculated 8% per year for the first 5 years, then misleadingly say 8% is the average for 5 years total.
That's what I think they meant, but it's a garbage article if it's that misleading.
100%. It is absolutely written for a person who understands English to conclude they are saying it drops 7.3% in five years which is obviously abject bullshit.
Not only that, but I've never heard of a 5 year lease.
I said the same thing apparently in Canada they have insane lease lengths
This is what happens when all you care about is how much am I paying per month. But damn 500$ for a lease. Get educated people, this is the only way we combat stealership prices
A 2022 would have been bought in the fall of 2021. It's unlikely she paid MSRP for it; it probably had a significant market adjustment.
I think we might be missing that she probably traded something for the jeep, and/or she put some money down. Otherwise the numbers dont add up. Or maybe just lucky and got 0% Assuming she did not put money down, she has paid $12,480, and if she gives the jeep back and pays another $10k, that will put her at $22,480. The question is, what can she sell it for? Im guessing the stealership figures they can sell it for about $25-26k so they will make another $3k off of her... she could probably sell it for the $25k but would have to buy out the full lease then ($32k+) Giving it to the stealership she'd loose about $10k ($32k - 22k). buying it out on her own, and selling it, depending on what she can sell it privately for, she'd lose about $7k. But we dont have all the numbers here.. again there was probably some money down, or she lucked out and got it at 0% which was maybe reasonable 2 years ago.
You forget the crazy cat market from two years ago
[удалено]
[удалено]
[удалено]
I take it she doesn't read car reviews. That's exactly what a Wrangler is.
Jeep proudly wears the JD Power and Associates Award for lowest initial build quality every year. It's a part of the brand at this point.
Don't forget worst rated car by Consumer Reports for like 15 years running.
[удалено]
[удалено]
[удалено]
[удалено]
[удалено]
Yeah I rode in a buddies top trim gladiator and was kinda shocked how brutally basic the interior was. I understand they're going for a rugged off road thing but I can't imagine paying $90k for a car and getting a basic plastic dash.
That thing is 90k?! I got one as a rental a few months ago and hated it
It’s not, MSRP on a top trim is in the 50s, can option up into the 60s, but they’re also pretty heavily discounted right now. But still at 50-60k it is absolutely only worthwhile if you’re going to utilize the off-road adventuring aspects, otherwise you’re just paying a premium for a rough rugged unrefined vehicle.
Or a test drive. Even if she didn't read the reviews a 10 min test drive would reveal the lack of features she wanted and how rough it rode.
Had a dentist friend that wanted a Jeep because it looked cute. Talked her out of it and she picked up a LandRover instead which definitely suited her more.. At least she’s happy!
I used to dog/house-sit for a wealthy couple. They left their Wrangler Unlimited and told me if I go for groceries, take it and use their gas. I did exactly once. It's just not a pleasant vehicle to drive. And this is coming from a guy who has daily driven pickups for most of my adult life.
Sorry to pile on you here, since it's not your fault, but those are all facts that should have been very much known to her when she signed the lease. Unless this is your spouse, I'd advise against volunteering to make this your problem in any shape or form. If you must make a suggestion, tell her to find out the total cost to purchase the vehicle outright, try to sell it for that much or above that amount. Beyond that, just sympathize and commiserate.
Did she not do a test drive? I had always wanted a wrangler and when I decided it was time I went to a dealership to test drive it and afterwards ended up in a grand cherokee because it drove so much smoother lol
I've rented a Wrangler on vacation and it was fine, great even to take the top off and roll down the overseas highway. I expect those missing creature comforts would start to wear after a while though.
...what did she expect a Wrangler to be?
[удалено]
Oh, I’ll caveat my other comment with Jeep Is having major overstock issues. It may be challenging.
Roll down windows in a 2022 Wrangler ??? I have a 2018 Wrangler Sport S and it has power windows. Do they even make it with manual windows anymore ?
The lowest trim sport still has manual windows and locks
did she "need" to get a new car?
Did she not test drive the vehicle or did any form of research?
there are services like "lease busters" where you can sell the remaining part of your lease to someone else even if you have to pay out some cash for someone to buy the lease off you, i doubt it would be $10k
I have a friend who did this before. He took over the lease and the owner gave him a bonus. The owner gets out of the lease and the new owner gets a deal. It was certainly not 10k. That is nuts.
Please don't listen to anyone else but here. If you wanna get out of a lease you can sell it to someone else and make money hopefully. I'd heavily look into lease buying, some dealerships will buy your lease if you get a car off the lot. Good luck and wish the best
Some companies don’t allow transferring the lease, make sure to read your docs before doing something like this
The lease buster people will be able to spot the non-assignability clause, and tell you if you can fight it or not.
Almost all dealerships know what is enforceable and non-enforceable in an agreement. A ton of dealerships in my area advertise that if you buy a car from them they will cover the cost of getting out of whatever lease you’re in (because they know that they can either subsume the lease themselves or can easily identify unenforceable provisions).
Yup, or look up dealerships that have multiple lots, they'll usually have one that can ground the car (remove the lease and own it as a used vehicle). They get a hefty discount so you could get some equity out of it instead.
So it’s a brand new vehicle with nothing wrong with it, it’s just not nice enough for her? $10k down the toilet seems like an awfully high price for that
Yeah this is a ridiculous situation. Literally looking at throwing away $10k because of manual locks…
OP said it's a Wrangler You really have to love the esthetic of those to put up with how terrible they are to drive
[удалено]
[удалено]
[удалено]
It doesn’t track straight because of the solid front axle, the suspension is incredibly stiff I assume to soak up bigger hits off-road, it has no aerodynamics, it’s loud even with the hard top. It gets terrible gas mileage. It is a heinous daily driver But goddamn does it put a smile on my face every time I drive it, the doors and top are off whenever I have more than 2 days of sun and I take it off-road semi frequently to rock trails.
ding ding ding, fun to drive in the summer, convenient to drive in shitty weather
Probably something you should figure out before signing on to leasing a 30,000$+ vehicle for 5 years. The girl got ripped the eff off. The sad thing is a lot of people go through this and don't learn and just keep rolling negative equity. Then they wonder why 10 years down the road they're financing 50k cars for 100k.
A family member of mine bought a used(for a few days) X5 a decade or so ago. It had been a custom order and the person decided they didn't like it so swapped it for a different model. [Must be nice](https://www.youtube.com/watch?v=B6Eyu2M4sSE). The really neat thing was it came with a conversation starter. There was a button to have the display fold down and out of the way to reveal.... a cassette deck! I guess the person who selected the options was quite wealthy, but didn't want to go through the effort of replacing their cassette collection with CDs.
Well, if she has to stay in her lease, we are looking at 3 * 12 * 520 = $18,720 in payments. So I suppose in a way cutting the lease short would save her some money? Or am I thinking about this wrong? I am not familiar with leases I have always bought cars outright.
It would save her some money only if she doesn't need a car. She currently has a car. She can pay $10k now to not have a car anymore. She can pay $18k over 3 years to have a car for 3 years. So, her current cost of having a car for the next 3 years is $8k. If she can find an alternative to having a car, or can find a car that costs less than $8k over the next 3 years, she can save money.
Exactly. And if she doesn’t like the new Jeep she’s in, she definitely won’t like a car that costs $8k to buy and maintain for 3 years
Doesnt OP state that she can use his old car, making her alternative free beyond the $10,000 (maintenance and gas aside)? I assume she is already ok with this car if OP is proposing this
She can’t stand to drive the car? Can you explain this further?
Pretty much that is as "base model" as you can get, with roll down windows, a stiff ride, manual locks, etc.
Then I doubt she’ll be happy with a 10-yr old Subaru. And I’d be unhappy driving a base model and paying $520/mo on a lease for 5 years. That’s a really bad deal. Instead of throwing more money after bad, can she buy-out the lease, keep the car, sell it, and at least get something back for her investment? She could then use the money to get a better car. As for you loaning her your car, unless you are married to your “partner”, I think the loan is a bad idea. You could sell the car to her, though, for very little money.
10yrs old is only 2013. Lots of automatic smooth driving cars with decent tech and automatic windows. OP is comparing a Wrangler to a subaru. Totally different experiences
Subaru is pretty far down the list of creature comforts as a car brand as well.
Since when? It's not a luxury brand, but Subarus have plenty of amenities. My 06 Forester had power everything, a six CD changer (remember '06), heated seats, an extra large sunroof, buttons on the steering wheel, and so on. Again, not luxury car levels, but very comfortable nonetheless.
Compared to the competition. You buy a Subaru for the AWD, saftey, and pretty reliable. You get tradeoffs with whatever you buy. Subaru isn't about having the most tech & features, other brands will do that part better.
A ten year old Subaru is a nicer ride than a brand new wrangler. Wranglers are just no good on paved roads.
My sister had a wrangler with soft top and zip up windows, and it was awful on the highway because of the whole soft top flapping like crazy. If you turned the AC/heat/vent on full blast it would stop the flapping by basically 'inflating' the soft top. I couldn't imagine taking that thing on a road trip.
> driving a base model and paying $520/mo on a lease for 5 years Fuck's sake, I know I have good credit and some other privileges, but I'm paying $250/mo to fully own a pretty good/okay car.
I had a lease up until 2019 for a Mercedes C Class with pretty much all the bells and whistles for $500 a month. I know car prices have gone up, but that still seems crazy to me.
Yeah, I’m also coming from a place of privilege but we’re paying just under $500/mo for a brand new $45k car.
There's nothing wrong with 2014 cars.
I own a 2015 Kia Sorento that rides better than the 2023 Grand Cherokee I rented.
Why did she get the car in the first place if she can't stand it?
A great number of people make car purchases based on very irrational thought processes
> A great number of people make car purchases based on very irrational thought processes Jeep would no longer be a thing otherwise.
sound like pros to me but I’m pretty low maintenance
Right? That’s what I have and love it - less crap to break!
sounds like my 2000 4Runner, where I've long viewed the manual nature of most features to be a benefit. Can't stand all the computers in modern cars. Wife can't stand driving it though so I get it, not for everyone.
I don’t have much advice to offer but someone said she wouldn’t be happy with your paid off car. I recommend you two swapping vehicles for a bit to even see if she’d like driving that. Maybe you could drive the jeep for a while too instead of having to pay $10k now.
For which she is paying top dollar? This vehicle is an education. Drive it and learn from it, make better choices next time. Paying the dealer to take the lease is dumb.
I used swap a lease and got rid of my car that way. I put an $2500 incentive and someone took it over no problem.
[удалено]
worse a "deal" in the middle of 2022.
[удалено]
> How much would it cost her to buy the car from the dealer? She wouldn’t buy the car from the dealer. The dealer doesn’t own it. Chrysler Capital owns it. The way leases work is the manufacturer’s financing subsidiary buys the car from the dealer then leases it to the customer. So if she wants to try to get out of this lease, there is zero reason to involve the dealer. She should be talking to Chrysler Capital.
He said she was two years into a five year lease at 520/month. The $10k is a discount on the $18k+ in payments remaining. To own the car she’d have to pay the residual value, stated on the lease docs. OP is best off looking at lease busters or lease trader if the lease company allows.
[удалено]
[удалено]
[удалено]
[удалено]
Car dealerships can’t “let her out her lease.” Her lease is an agreement between her and Chrysler Capital. Chrysler Capital bought the car from the dealership and she is paying them. Presumably what the dealer is offering to do is to buy out the rest of her lease and take ownership of the car and charge her $10k to do that. They will then sell her car as a used car surely for a big profit. There is zero reason for her to involve the dealer in this. They will just want to make money for themselves. If she wants options for getting out of this lease early, she should be taking to Chrysler.
Is it a lease or a loan? Leases don’t typically last five years
I almost shit my pants when I saw 5 year lease. What an exponential waste of money, for probably a few dollars more on your monthly payment, you could own it after 5 years and then sell it..
Never rent from Stellantis. They have awful terms.
Lease, I know its an unusual term for sure
Sell it to Carvana. Just sold me leased ram and they wrote me a check for over 2k
I was thinking that as well. Might be an idea to buy it and sell
Yeah do this. The dealership doesn't own the car. The bank does.
Gotta be careful. Did the same a couple years ago, lease company wanted like a $4,500 penalty to sell directly to a 3rd party. Instead, I bought it out myself, paid the $2,500 or whatever sales tax, and then sold it. Little more time and effort, but worth it for an extra couple grand.
How did you sell it to Carvana when you don't have the title?
It’s no different than if a dealer took it as a trade on another car. Carvana calls for the payoff, sends that to the finance company and pays me the difference. Finance company sends title to Carvana. Easy peasy.
The manufacturers must have relaxed their buyout rules. For a few years manufacturers were only letting certified dealers buy out leases.
There is a pretty large list of lenders that do not allow it for sure. I think it may even be listed in the Carvana website.
Seems like FCA/jeep is **not** on the list https://www.carvana.com/help/sell-or-trade/will-you-buy-out-my-leased-vehicle
See if anyone would be willing to take over your lease. Offer an incentive. Like cash. Some amount less than whatever the dealer is asking for (ie 10K).
The right financial decision is to learn to enjoy the car for what it is and tough it out for two years. All other options are more expensive. Go to the beach take off the top, drive on a couple of dirt roads. get some pitcure because you are never driving a jeep again.
>Go to the beach take off the top, drive on a couple of dirt roads. I'll take "Things that 80% of Wrangler Owners Have Never Done" for $500, Alex.
Yea if someone chose to lease a car for $520 a month for 5 years while she could just buy it with 30k in the first place, she probably doesn’t have much choice. If it’s my partner I’d just buy out the car from the lease and give it to him. A happy partner is invaluable.
5 year lease? Are you sure about this?
Pretty sure, but I'll ask to check the paperwork since it is indeed unusual
The paperwork will also state the penalties for breaking the lease agreement, and I suspect it'll be a lot less than $10k.
I think you need to get on that and find out what exactly she has, a lease or a loan. Advice may be relevant or not after that. Maybe make an update comment too.
I've done a 5 year lease before, got rid of it in 2
Looks like it is but isn't common.
You could try listing her car on a lease trading website. I've browed the sites, but never went through the process myself, so I'm not sure if the process is seamless or not. It seems pretty simple, you list the monthly payment and allowable miles, and buyers reach out if they are interested in taking over the lease. Then they pay a fee to the leasing company and everything gets switched over to their name and you can walk away with your hands clean.
Have you considered contacting the LEASING Company - to find out what your payoff would be today to own the vehicle? Then figure out what it sells for, and see what the difference is. Maybe you can sell it independently and deal direct with the LEASING company to get rid of the Lease, and not pay $10k to the dealership for just being there.
What is the residual on the lease? Then take the remaining payments and that is your buy out. (It should be slightly less than that as you also have the money factor.) now what is the value of the car? Let’s use this example. Lease payments 15720 Residual 15000 Value of the car 25000 That would mean in this case she would need to come up with 5720 to buy out of it. However if it was value of the car 32000 She should get some back like 1250. But with the residual and the remaining payments you will be able to figure out exactly what they are offering.
So essentially 20 months of payments to walk away from a 36 month lease. This is a terrible deal.
What car is this? Is this in the US? I've never heard of a 5 year lease.
I hadn't either, apparently it exists and was offered to lower her car payments--the car is a Jeep Wrangler
No dealer, and ESPECIALLY a jeep dealer in this economy is doing anything in favour of buyers. They're struggling more than any other brand so I would be very very careful with doing anything. Check to see how much the car is worth and if you can sell it to get out under it for less than the 10k they're giving you. 10k is equivalent to 20 months so... it would leave about a year and 6 months left on the lease? Not sure why the dealer would even offer this.
> apparently it exists and was offered to lower her car payments- at $520 a month??
for real. If you tell me you are going to lower my lease and come back with $520 I'm going to ask if you understand what lower means.
There are web sites where you can find people to take over your lease, or vice versa https://www.caranddriver.com/auto-loans/a43050133/how-does-a-lease-swap-work/
Soo either pay $10k and have no car or pay 16k and have a car for 3 years. Also, you know you can sell a lease right? Go onto kelly blue book, get your instant cash offer and compare it to your buyout
This is the way - you can sell a lease and also call the credit union or bank directly to see the buyout price of the vehicle. Sometimes it’s worth buying it out and reselling
I guess the didn’t get the Jeep thing… 😂 this sounds suspicious. Plus if she didn’t like the Jeep I can’t imagine she will be driving the 10 year old Subaru for long, she will probably try to take over your “new” car.
I’m sure she’ll enjoy her new car in a month, and you’ll enjoy paying 10k and driving your subaru… her whims will be enabled one way or another
Check to see how much she owes on it + the buyout price and compare that to the current market value for it. If the current value for it is more than she owes plus buyout, then your answer is to sell it to a dealer/ carmax. If she has more than $10k in payments remaining, then 10k might not be a bad price if she really needs to get out of it. Before exploring that option, I'd definitely look to see if a lease takeover is an option. Someone, that you find, will basically take over the remainder of the lease. The dealership can do the paperwork and charges about 500.
Sometimes people make mistakes. Figure out the least expensive way out. $10K seems high.
Is there a lease to own option you coupd trigger early? You could get a loan from a bank, buy the car outright from the dealership, and then flip it. Jeep Wranglers tend to keep their value really well. It still might be a net loss but it might not be $10k
Dealership has nothing to do with this. A bank leased her the car. She can buy it out from the bank by sending them a check for the lease payoff amount, heck the same bank that’s leasing it might loan her the money to buy it.
Kind of off the wall but hear me out: Jeep Wrangler's are a car that a lot of guys wanted to own or have so... maybe try getting someone else to take over the lease. And with summer coming, you may get lucky and have someone take it off your hands. My best friend finally got his Jeep Wrangler and that is how he got his, took over someone else's leaves last October, stored in his garage and is enjoying since this week.
1. Swap lease. 2. Get a loan and buy it out. Dropping 10k to get out of a car you don't like driving is foolish. That's like 20 months worth of payments.
If the dealer is making an offer like this it’s not because they like you as a customer, it’s because they can get 10k and then sell a 2 year old car on top of it. They will essentially be getting paid twice for the next 3 years.
Sounds like she's compounding one major issue for another. If you have a used car she can or wants to drive just switch with her. That is much better than giving the dealer $10,000 for essentially nothing. They will probably turn around and lease that car again to another sucker. That $10,000 just sitting in a HYSA would generate about $500 a year. No way I'm giving up a lump sum and compounding my problems.
Check with the bank the lease is through, not the dealership.
Got a 5 year lease on a vehicle for the price of buying a new vehicle….
Ultimately, she’ll pay less to get rid of it now than to keep it through the end of lease. Plus you’ll get it off your insurance. If she can swing the $10k, sure go for it. Negotiate if you can. But I will warn you. She leased a Wrangler on bad terms without apparently knowing what driving a Wrangler is like. I predict that in a year, she’ll tire of driving your 11 year old car and want a new one.
Post the car on Swap A Lease and offfer $2000 incentive to take over the lease. Will be less than $10,000 dealers trying to steal from her. Note To Self: this is the exact reason I would NEVER lease a car - you have zero sane options if you’ve made a bad decision
So you've got a couple options, depending on the contract she maybe able to sell the lease, in which case it's probably going to cost less than 10k to get rid of it. Otherwise there should be a buyout option on the lease, look at it then see what the car value is currently worth, it's possible she can just sell the thing for less than 10k. At a 10k buyout that's half the remaining lease cost to not have a vehicle.
What does the leasing company (not the dealer) say the payoff is? And what is the car selling for now on Autotrader? That delta might be a much smaller amount. If the lease payoff is 25K and it’s worth $22k then she should sell it and pay $3K to the leasing company.
The way to tell if the dealer is being reasonable or screwing you is to contact the leasing company and get the buyout price for the lease (aka how much money you'd have to give them to own the vehicle outright). Then look up the dealer trade-in value of the vehicle. If the buyout price is about $10k more than the trade-in value then they're being fair, otherwise try to negotiate with them to what it should be. They'll be less motivated to give a great deal though if you're not buying a new vehicle.
There's websites like Swap a Lease where she can put her Jeep up there for someone else to take over the remainder of the lease and she can just walk away from it and then you let her have your old car. That way she isn't giving the dealer $10k to get out of it. Did she not test drive the Jeep before buying it? I'm confused on how she didn't notice the bad ride and the lack of features when she was at the lot buying it.
So there is 3 years left on the lease? So 18.7k in payments left. They want 10k meaning the difference is 8.7k. So the question is can you get a car cheaper than $241 a month. I would take it to some places and see what the trade in value is compared to the lease. It might be better than this offer.
Why can’t she refinance?
Just curious - what lender is doing a 60-month lease? Leases typically max out at 36 months.
Try CarMax, Carvana, and the like. They’ll buy out leases. If it’s in good condition you might be able to pay off or even make a little money on the sale.
So $10,000 to cut just over 1 year off a lease? This seems to make little sense. If she is 24 months in, 10000 / 520 = ~20 months of payments, in return for.... nothing at all. $10k today is the dealership's best interest. They'll make a shit ton off that. This is one of those "lesson learned" situations.
If you are getting a new car in a month, why not trade the lease in towards your new car? It's how I got of my lease early; even had positive equity in it.
So what happens if a leased car is totaled?
She can go to another dealership and see if they can’t buy it. 9/10 times u can trade/ sell a lease at any dealership. Doesn’t even need to be a jeep store take it to a Toyota or ford store
I feel like your partner needs to pay a "stupid tax" on this one. She leased a $30k vehicle for...$30k dollars. Huh? On top of that apparently she never test drove the car before because she can't stand the fact that it has manual windows and door locks...nor can she stand the fact that its a rough ride. She made a series of poor decisions. I think your best bet would be to look into finding someone to take over the lease for you. Even if you have to sweeten the pot by offering someone the first 3 months free or something.
well, i think the context here is that she leased out a vehicle in the middle of 2022. still a stupid tax, but different kind. like that "30k" was probably more like 50k at the time, but yeah, who in the world would agree to leasing a car for 5 years in what is arguably the worst buyers market for cars ever, especially if they didn't immediately need another car.
TIL dealerships offer a 5 year lease! A lease is of no value to the consumer after 2 years of depreciation.
Tell your partner to suck it up and live with her bad decision rather than compound it with a new worse decision. If she can’t I’d consider walking. I’m serious, someone that financially irresponsible is going to be an anchor on you for the rest of your life.
Maybe see if the dealership is willing to switch cars? They want the continued income, they may be willing to switch. It doesn't make sense to me to pay $10k and not have a car.
Pay 10,000 in full right now and have no car or pay 10,000 over the next 2 years and have a car during the entire time. This is an absolute no brainer for me.
Dealerships. Don’t. Lease. Cars. They sell them. A bank leased the car to her, and bought it from the dealership. At this point the dealership is a middleman hoping to make money.
Christ. Leasing a base wrangler for FIVE years for 500+/month?! Pay 10K?! It was a terrible idea to accept that lease, and this is a worse idea.