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Old 06-18-2012, 06:04 AM   #1
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Lease?

I tried searching, but could get any good answers. Went down to the jeep shop to get numbers on a 2013. End result was too much money for us, but thinking a lease maybe cheaper, according to keep.com. Any recommendations in regard to leases?

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Old 06-18-2012, 06:11 AM   #2
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Yeah. Don't do it. Leases are usually more expensive when you consider end of lease payments AND over mileage charges. Add to that maintenance by the dealer and the fact you come out of a lease owning nothing.

My best advice- Save up some money or cut some other bills and become a Jeep owner when you can.

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Old 06-18-2012, 07:07 AM   #3
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Yeah. Don't do it. Leases are usually more expensive when you consider end of lease payments AND over mileage charges. Add to that maintenance by the dealer and the fact you come out of a lease owning nothing.

My best advice- Save up some money or cut some other bills and become a Jeep owner when you can.
100% agreed. Leases are a nightmare, for these reasons and more. Every scratch in the paint or nick in the wheels will be sucked directly from your pocket, which is an especially bad deal for a wrangler. You'll also start to lose sleep over the mileage limitations once you start edging closer to the threshold... On top of that, wranglers maintain their value very well- check out the crazy pricing for used ones! Youll see no return at all if you lease. Leasing is for suckers who arent patient enough to save up some money and buy smart.
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Old 06-18-2012, 07:08 AM   #4
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I'm leasing my 2011. To me, it was the best thing to do. A) Payments are cheaper. B) I can buy it at the end of 39 months and have instant positive equity in the vehicle because of how Wranglers hold resale value. C) Taxes are included in my monthly payments...so no shock bill is due at the end of the year. Like the salesman said...ANYBODY making payments on something can say they do not own it. There really is no difference between lease or buy. I still have fun with my JK the way I want to...and next year I get another new JKU.
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Old 06-18-2012, 07:17 AM   #5
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There really is no difference between lease or buy
If that was the case EVERYONE would lease. While I'm not saying it has its perks they are different and need to be looked at carefully.
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Old 06-18-2012, 07:17 AM   #6
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I wouldn't. I did it when I first went into the military, took years and 3 vehicles to get out from the damage of the first lease. They are traps for the above stated. You are held to rules you have no control over.

I would not even consider leasing if I knew I was getting rid of it in 3 years.
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Old 06-18-2012, 07:41 AM   #7
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Depends on the lease and the terms. If you decide to lease a Wrangler, I would not take it off-road and I would not do any modifications once I drove it off the dealer's lot.
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Old 06-18-2012, 08:30 AM   #8
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We've leased Jeeps before, and when we turned 'em back in they didn't even inspect them. Just walked around... yep it looks good.. see you later. People are too paranoid about leasing. I had mine in a mud pit with 500 miles on the odometer. I ripped off a fender flare, dented the door with a log I ran over accidentally, etc. Since then I've gotten a dent in the hood from a baseball, dent in the tailgate from a trailer dolly, and dent in the passenger door from the neighbor's kid. NONE of these will be charged against me, because they are all smaller than a credit card (which is the rule according to my dealership) and I repaired the fender flare myself. The jeep washes up like new and I get compliments everywhere I go. I enjoy my Wrangler as a Jeep and my lease doesn't hold me back.

If you finance, you don't own it. If you lease, you don't own it. You don't own s*** until it's paid for. The only difference between you and me is that my payments are $350 and everybody else's are $500 or more. What about mileage? Who cares? Like I said, I can buy it at the end of the lease and the mileage doesn't matter...and at that point I'll instantly be able to sell it and make $3,000 profit off it and buy another JKU. OR, I can trade into a new JKU early with NO penalty due to the way the JKs hold value.

There's really nothing to be scared of. The reason used vehicles are currently SO expensive is because leasing was basically ended during the 2008 gas and bank crisis...so now the pool of quality used vehicles coming in off lease is small and it's driving costs up. Leasing is good for the economy and good for your pocket.

The only time I would NOT lease is if I was planning to cut the vehicle up and put it on 44 inch tires or something wild like that.

According to stats I read as of last year, 45% of all new vehicle sales are leases now. So it's really getting a lot more popular way to go for people now.
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Old 06-18-2012, 08:54 AM   #9
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We've leased Jeeps before, and when we turned 'em back in they didn't even inspect them. Just walked around... yep it looks good.. see you later. People are too paranoid about leasing. I had mine in a mud pit with 500 miles on the odometer. I ripped off a fender flare, dented the door with a log I ran over accidentally, etc. Since then I've gotten a dent in the hood from a baseball, dent in the tailgate from a trailer dolly, and dent in the passenger door from the neighbor's kid. NONE of these will be charged against me, because they are all smaller than a credit card (which is the rule according to my dealership) and I repaired the fender flare myself. The jeep washes up like new and I get compliments everywhere I go. I enjoy my Wrangler as a Jeep and my lease doesn't hold me back.

If you finance, you don't own it. If you lease, you don't own it. You don't own s*** until it's paid for. The only difference between you and me is that my payments are $350 and everybody else's are $500 or more. What about mileage? Who cares? Like I said, I can buy it at the end of the lease and the mileage doesn't matter...and at that point I'll instantly be able to sell it and make $3,000 profit off it and buy another JKU. OR, I can trade into a new JKU early with NO penalty due to the way the JKs hold value.

There's really nothing to be scared of. The reason used vehicles are currently SO expensive is because leasing was basically ended during the 2008 gas and bank crisis...so now the pool of quality used vehicles coming in off lease is small and it's driving costs up. Leasing is good for the economy and good for your pocket.

The only time I would NOT lease is if I was planning to cut the vehicle up and put it on 44 inch tires or something wild like that.

According to stats I read as of last year, 45% of all new vehicle sales are leases now. So it's really getting a lot more popular way to go for people now.
I wouldn't say more popular, it is people getting vehicles they can't afford in most cases. Or, they don't like sticking to one car is the other side.

Land rover, case and point
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Old 06-18-2012, 09:01 AM   #10
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I would think deciding between lease and buying depends on your circumstances. If you plan on buying the jeep at the end of the lease, I would say don't lease. You'll probably end up paying more than if you would have bought it. You'd have to run the numbers to figure that out though. If you plan on getting a new vehicle every two to three years, then leasing would make sense but you have to watch the fine print.

As for the comments about not "owning" when you're still making payments, I would disagree. My Jeep was mine (I.e. titled under my name) from day one. Now I feel much better that the bank is no longer a lien holder on my title, but the vehicle was always mine. If I sold it, I got the money. On a lease, the vehicle isn't yours. A lease is like renting a vehicle, it's just a longer rental period.
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Old 06-18-2012, 10:01 AM   #11
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As for the comments about not "owning" when you're still making payments, I would disagree. My Jeep was mine (I.e. titled under my name) from day one. Now I feel much better that the bank is no longer a lien holder on my title, but the vehicle was always mine. If I sold it, I got the money. On a lease, the vehicle isn't yours. A lease is like renting a vehicle, it's just a longer rental period.
I agree with this. There is actually a significant legal distinction between owning property that is subject to a mortgage and leasing it. As jwink noted, car owners can sell their car at any time, and at any price, even if they have 0 equity in it.

I also disagree with the proposition that since leasing is popular, it must be good. Our society has become increasingly dependent upon credit over the last half-century, and the popularity of leasing is probably mostly symptomatic of a culture accustomed to immediately getting what they want, even if it means paying a higher price in the long run. Financing cars was once not an option, but became the most popular way to purchase once commonly available. Does that popularity mean that buying something over time at an interest rate is a better idea than buying it outright? Obviously not.

All that said, leasing works for some people but not others. Just because some people have had luck returning Jeeps with wear and tear without incurring charges doesn't mean that everyone will. My wife recently returned a lease and we got completely screwed by all of the added-on charges. Maybe at some dealerships it's a better deal, but not anywhere around here!
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Old 06-18-2012, 10:21 AM   #12
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I agree with this. There is actually a significant legal distinction between owning property that is subject to a mortgage and leasing it. As jwink noted, car owners can sell their car at any time, and at any price, even if they have 0 equity in it.
I can get the payoff amount of my lease at any time I wish, and I can sell it any day I wish and send the money to the bank who owns the Jeep and wash my hands of it.

If I had "bought" the Jeep...it would be the exact same thing. I'd have to aquire the payoff amount, and then sell it and pay the Jeep off. I see no difference whatsoever.

If I decided to trade my lease today (13 months into my 39 month agreement) I would get the dealership to mail a check to the bank that the lease is through and pay it off the exact same as they would on a "bought" Jeep.

If I quit making payments, my Jeep will be repossessed from me and I'll be subject to penalties. If your "bought" Jeep isn't paid on a regular monthly basis, they'll repossess it the same way and you'll be subject to penalty.

I pay my insurance... you pay your insurance.

I pay to license my Jeep, you pay to license yours.

There is almost no difference whatsoever. I'm not "renting" the Jeep because every payment I make is reducing the total cost for me to truly own the vehicle.

It doesn't matter whose name is on the title... it ain't yours if there is a lien on the title and if you don't send them money they'll take THEIR Jeep away from you so fast your head will spin.

Just my $0.02. I agree, leasing isn't for everyone. But it works great for a lot of folks.
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Old 06-18-2012, 10:45 AM   #13
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I can get the payoff amount of my lease at any time I wish, and I can sell it any day I wish and send the money to the bank who owns the Jeep and wash my hands of it.

If I had "bought" the Jeep...it would be the exact same thing. I'd have to aquire the payoff amount, and then sell it and pay the Jeep off. I see no difference whatsoever.

If I decided to trade my lease today (13 months into my 39 month agreement) I would get the dealership to mail a check to the bank that the lease is through and pay it off the exact same as they would on a "bought" Jeep.

If I quit making payments, my Jeep will be repossessed from me and I'll be subject to penalties. If your "bought" Jeep isn't paid on a regular monthly basis, they'll repossess it the same way and you'll be subject to penalty.

I pay my insurance... you pay your insurance.

I pay to license my Jeep, you pay to license yours.

There is almost no difference whatsoever. I'm not "renting" the Jeep because every payment I make is reducing the total cost for me to truly own the vehicle.

It doesn't matter whose name is on the title... it ain't yours if there is a lien on the title and if you don't send them money they'll take THEIR Jeep away from you so fast your head will spin.

Just my $0.02. I agree, leasing isn't for everyone. But it works great for a lot of folks.
Absolutely, leases work for some. My dad leased his work vehicle because he trades them in every two years. There is still a difference between a lease and buying. I've always owned. Why? Because I tend to keep my vehicles longer and I hate making payments so buying makes sense and costs me the least. I will likely never lease a vehicle because for me, it would cost me more in the long-term. Maybe you've gotten great lease deals but not all leases are the same.

The question of leading versus buying is like asking manual versus automatic. Everyone has an opinion based on their experiences. To the OP, I still say run the numbers and see what works best for your situation. Leasing may be better, or more expensive. It just depends. You can build simple spreadsheets in excel to help do the cos comparison or if you google leasing versus buying there are a number of helpful tools out there.
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Old 06-18-2012, 10:49 AM   #14
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If there was almost no "no difference whatsoever" there wouldn't be "buy or lease". They are quite different, you need to do some research.

Knowing what a Jeep goes through, I cant believe they lease them, but then, knowing what they do on the back end of a lease, it probably makes good sense.

I couldn't agree more with the statement that leases are for people who can't really afford what they are buying.......and the filthy bankers are more than happy to leverage you into bankruptcy. They are sucking the middle class dry.
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Old 06-18-2012, 10:59 AM   #15
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Just have your leased Jeep stolen or totaled when you are close to your buy out & you will find out the difference between leased & bought. Your insurance payout for the leased vehicle will make the leasing company whole and leave you with NOTHING. Instead of being able to buy out your lease, all your lease payments end up with you having zero equity. There is a difference.
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Old 06-18-2012, 10:59 AM   #16
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I couldn't agree more with the statement that leases are for people who can't really afford what they are buying.......and the filthy bankers are more than happy to leverage you into bankruptcy. They are sucking the middle class dry.
I don't think that's true in all cases. Some people use leases to get something that is beyond their means, but some don't. Here's a good link to start with:
http://www.edmunds.com/car-leasing/c...-used-car.html
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Old 06-18-2012, 11:09 AM   #17
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Jeep wrangler lease is not worth it. You can get a lux car for the same lease price. Own the Jeep is better. The resale value holds it own compared to other SUVs.
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Old 06-18-2012, 11:17 AM   #18
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No doubt leases are workable for some.

But surely nobody is suggesting that taking the path to unencumbered ownership will cost the same by either (a) buying outright or perhaps financing at close to 0% versus (b) leasing and then deciding to buy later?

And surely everybody understands that if you decide to never buy at the end of lease after lease, you are simply leasing in perpetuity which is just paying each month for nothing other than the right to drive one vehicle after another? You could make tens of thousands of dollars in payments over multiple years and several leases, and have nothing to show for it.

My view is that--aside from business leases--leasing for personal vehicles is principally geared toward either folks that can't afford to buy OR folks who can afford to buy but want the luxury of always being able to easily rollover their vehicle after a short period of time and always drive the latest and the greatest. The latter reason is why I could imagine myself leasing sport or luxury cars in addition to my (owned outright) jeep if I ever become wealthy.

No matter what benefit brings you to the table for a lease however, you do "pay" for the "benefit" you're receiving--whether that benefit is driving what you can't afford or whether the benefit is never really being responsible for the vehicle and always being just a few months from getting something new.

Nothing's free. A lease is (or at least should be) more expensive in the long run. If that's okay with you based on whatever you get out of it, then go ahead.
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Old 06-18-2012, 11:20 AM   #19
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A lot of leases I have seen, the residual is almost like buying another vehicle, even after the fact you made 3 or 4 years of payments. Leases are a dealers cash cow. They get to move em!
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Old 06-18-2012, 11:30 AM   #20
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There is almost no difference whatsoever. I'm not "renting" the Jeep because every payment I make is reducing the total cost for me to truly own the vehicle.
Yours is unlike any lease I've ever seen, then. You're paying the same percentage of equity with each payment that you would be if you purchased? If you ended up buying at the end of your lease, you would have paid the same gross amount as you would if you had initially purchased it? I don't think so. So how do you account for the difference between the total purchase price (including interest) and the total lease price (including purchase)? I'd call that rent.
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Old 06-18-2012, 11:36 AM   #21
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Yours is unlike any lease I've ever seen, then. You're paying the same percentage of equity with each payment that you would be if you purchased? If you ended up buying at the end of your lease, you would have paid the same gross amount as you would if you had initially purchased it? I don't think so. So how do you account for the difference between the total purchase price (including interest) and the total lease price (including purchase)? I'd call that rent.
Exactly.

And it seems to me that if you're going to pay that extra amount, then you should have a reason.

The only two reasons I'm aware of are either (a) you can't afford to get your hands on a jeep any other way, or (b) you want the luxury of having no service concerns, always being in an essentially new vehicle, and not having to bother with any of the issues associated with needing to sell your "old" vehicle--you basically want easy, trouble-free "newness" all the time.

If either of those situations describe you and you're comfortable with that, then knock yourself out and lease for all of time. But just be aware--you're most definitely paying for it.
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Old 06-18-2012, 11:42 AM   #22
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Leasing is dumb.
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Old 06-18-2012, 12:26 PM   #23
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Leasing is great for a business that wishes to write off the vehicle as a business expense.

It is a lie that it is in the best interest of a private individual.
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Old 06-18-2012, 01:54 PM   #24
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Just got a call from the dealer, can't order a 2013 as a lease, has to be off the lot... So looks like I'm saving up or waiting for a dealer close to have what I'm looking for on a Jeep to make any moves. With a trade of $9,000 according to the Jeep site, my payment will be much lower and will allow me to save for the payoff. The dealer also said that their lender Ally now has a $2,500 fee for after lease buy out, not very friendly...
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Old 06-18-2012, 02:03 PM   #25
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I have heard the collection fees end of term are high nowadays for turn in.
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Old 06-18-2012, 02:06 PM   #26
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Just got a call from the dealer, can't order a 2013 as a lease, has to be off the lot... So looks like I'm saving up or waiting for a dealer close to have what I'm looking for on a Jeep to make any moves. With a trade of $9,000 according to the Jeep site, my payment will be much lower and will allow me to save for the payoff. The dealer also said that their lender Ally now has a $2,500 fee for after lease buy out, not very friendly...
If you really want to lease you might want to try another dealer. From there perspective I don't believe it should matter if you lease or buy. Not 100%, but worth checking.
That said, if you want a Jeep to drive on the road, never go off, and not to modify a lease might work for you. If you want to take if off road, customize it, and keep it for a long time I wouldn't recommend it.
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Old 06-18-2012, 02:16 PM   #27
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If you really want to lease you might want to try another dealer. From there perspective I don't believe it should matter if you lease or buy. Not 100%, but worth checking.
I would expect it does matter.

Dealers should want you to lease over buying, because this usually allows the dealer to make more money off the vehicle as well as off of your next vehicle.

Specifically, under a lease you make payments for the first few years profitably offsetting any depreciation in favor of the dealer. Then you give the jeep back to the dealer and either buy it or don't. If you buy it, you pay significant fees such that in the dealer's view they basically just sold you a used jeep for a good chunk of change, whereas if you opt not to buy it they get to sell it at used car prices to somebody else and lease you something new. Either way, leases should generally yield more money for the dealer than an outright sale.

So I'd expect dealers prefer leases over financing, and prefer financing over outright selling. They like outright sales too obviously, but not as much as leases and financing, which are "ever green" transactions--the green just keeps on coming.
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Old 06-18-2012, 02:23 PM   #28
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I had it figured like this, with the trade in the lease payment will be much lower than the if i was just financing the Jeep, $200 versus $420 roughly, I already have another car payment to boot. Like many of you at one point you didn't have a jeep, but needed one, that's me now. I'm going to love it period, but not sure about the family, wife and small kiddos. Therefore a lease will get me out at some point if i get overuled. If everyone loves the Jeep, then I can plan on saving for the buy out in a couple of years. I do and would love to mod the Jeep in the future and in worse case scenario bolts ons could be sold i guess...
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Old 06-18-2012, 03:23 PM   #29
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I would personally be weary of leasing a wrangler, especially if you have offroad desires.
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Old 06-18-2012, 03:41 PM   #30
Jeeper
 
Join Date: May 2012
Posts: 177
Some posters have pretty lousy math skills. If you trade in your cars every few years and work relatively close to home, a lease can be a great thing. That assumes you actually save the difference in payments.

Say your purchased car payment is $500 and a lease is $350 for the same car....36 months later if you bothered to save the $150 you have $5400 sitting in a savings account. I have yet to see a car retain as much equity as your savings would be for 3 year leases. Factor in not having to ever worry about resale value, leasing is certainly not "stupid" for those who know what mileage they'll use and take good care of their vehicles.

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