You haven't really given us enough information (residual and MSRP) to make an informed decision, but...the lease is costing you $21500 and seems quite high.
Quite frankly, putting ANY money down on a lease (much less such a large amount) is generally a bad idea. If you total the car next month then you've lost the down payment.
Though leasing can be advantageous in certain times or vehicles but on a wrangler, it's a bad idea. Wranglers hold their value quite well. Percentage wise better than BMW and Mercedes on average. I was too in your shoes at one point OP and when I did enough research (looking at used JKU's) I realized that I can buy a new one for just a few thousand more than a 1-2 year old. Plus you would want to upgrade wheels,suspension,lights,bumpers, etc. Its harder to justify spending money on parts and install when you know you have 39months before you have to take it off. You could buy the vehicle at end of lease but if you were to do that you should have just financed it in the first place. My 2 cents.
IMO you'd be better off financing and trading it in in 3 years, they hold value very well and i think you'll save money. that being said if your happy, do it, selling price seems fair.
It is ridiculous how well they hold their value. So ridiculous, that it will be interesting to see how a new body coming out will affect resale. "Usually" leasing is most advantageous when purchasing at the end of the cycle like we are in now.
Just buy a Sahara, you're wasting cash on the hard rock as a leased vehicle. Sell it after 2-3 years and you'll end up better off than any lease a Jeep dealer would offer.
If you're intent on leasing do as others said and get the Sahara. You will get all of the creature comforts but not pay extra for stuff you will not use do to the lease. That's a lot of extra money just for the look.
Ditto to what others have said... I was in the same place too thinking that the lease would give me lower monthly payments but in the end the lease payment would have been higher than financing it and plus i knew I would want to keep the jeep much longer than the lease term. For a short term lease I'd go with a Sahara but keep in mind that you will have to pay for damages or mods done to it at the end of the lease period ....not to mention the mileage restrictions ... Plus the residual value will still be high after 39 months , which in the end is like renting a car for ~7200 a year plus 5000 down... Not a good deal in this case
Don't lease, in the case that you want to buy it at the end of the lease, the following will occur.
High lease rates compared to other vehicles in the price range. So you will be paying a highly monthly due to bad money factor, even though residual is high due to resale value. Then if you want to buy the Jeep at lease end, you will pay a lot again, because the HR Rubi will have one of the highest resale. Not a good situation.
You do not want to lease a Wrangler, as has been stated here many posts prior. The ridiculous money factor rates make leases on a Wrangler a losing proposition unless you have serious tax benefits from leasing. Again, you are better off buying and selling after 3 years. If you are hell bent on leasing, the Wrangler is not the right vehicle for you unless you are keen on throwing away money.
That's a bad deal. Based on my experience, Wranglers (especially Rubicons) hold their value tremendously. You're far better off buying the Wrangler at or below Employee Pricing. At Employee Pricing, your monthly depreciation will be far, far lower than the lease payment. If you can get it at Employee Pricing, and sell it Private Party in 39 months, you'd probably be around $200 a month depreciation (way better than $459). Of course, this assumes your Wrangler has not been in an accident, has reasonable amount of miles on it, and you've kept it in relatively good shape. Also, I speak from experience on the above. I've owned 5 Wrangler since 2007, and have always come out right around $200 a month depreciation. Heck, one time, I even made a $1000 when I sold my Rubicon. Crazy! Bottom line, it does not make sense to lease a Wrangler. You can do far better in monthly depreciation by buying it. Plus, you'll be the original owner, which also helps resale value, which then keeps your monthly depreciation low Hope this helps!
That's a bad deal. Based on my experience, Wranglers (especially Rubicons) hold their value tremendously. You're far better off buying the Wrangler at or below Employee Pricing. At Employee Pricing, your monthly depreciation will be far, far lower than the lease payment. If you can get it at Employee Pricing, and sell it Private Party in 39 months, you'd probably be around $200 a month depreciation (way better than $459).
the giant thing you are missing here is by the time this guy is going to resell his Rubicon the JL will be on the market and the market will be flooded with used JK's. Very few cars hold their value after the new model comes out. The JK likely will not given the shear volume of JK's on the road.
This guy sounds rich, lease it and put as little down as possible...Oh and never ever mod a leased vehicle...
If you want to pay around $587/mo to lease a vehicle, go for it. (459/mo. then factor in down payment, $5,000 divided by 39 months=128/mo.) So you will end up paying about $22.8k to drive the wrangler for 39 months. If you bought, maybe a little more money up front, but at the end of 39 months you would be able to sell the wrangler and the net cost would be well below the $22.8k.
Its a personal preference, do the math, and go with what works best for you
People are showing you the math. You have your answer. You seem to not like it.
Also, I never lease anything longer than two years and never put money down. Never. Leasing for two years typically mean you give it back before wear maintenance items need replacing.
I can only imagine the costs of the Lease Turn-In Inspection on a Hard Rock. Especially if you take it off road. I'm sure they would ding you on everything underneath that is even remotely scratched, dinged or bent.
Is the $46,747 the OTD price, or price before TTL? If it's not the OTD price, then it's not a good deal. My Hard Rock MSRP'd for $47,510 and I got it for $41,000 plus TTL back in December.
I would ask people on this site if they ever leased a Wrangler, took it off road and what their experience was when they turned it in.
Good luck on your decision, and whether you purchase or end up leasing the Hard Rock, you're going to love it!
there is zero chance you would get a hard rock for 41k in NY metro area or long island. I dont care who you think you are, who you know, or how good of a negotiater you are. They will laugh in your face. You want even pay 43500 for that car here.
With leasing you have to be concerned with damage bigger than a credit card. and millage over what you agee on. And with that you have to put back on the same tires that came off of it when you turn it back in.
Been there and done that. Never again on a lease. To many things can happen.
Don't do the lease. I've run the exact same numbers only on a Willys, but the same principal applies. Putting $5K down (no trade) and after discounts then adding back in TT&L I ended up with an amount financed of $34.5K (don't forget this number when you look at the residuals below). So here is where a comparison will make your brain bleed:
Finance: 72 mos @ 2.49% = $516/mo
Cost of payments: $12,384
Total cost for 24 mos: $17,384
Real cost per month: $724
Amount I will owe after 24 mos: $23,567
Amount owed will be reduced over 24 mos by: $10,933
Selling at $30.5K nets $6,933
Total cost for 24 mos after sale: $10,451
Adjusted monthly cost for 24 mos after sale: $435
24 mo. Lease through Ally
$304 for 24 mos Residual - $33K and change
Cost of payments: $7,296
Total cost for 24 mos: $12,296
Real cost per month: $512
Amount owed reduced over 24 mos by only about $1,200 (holy crap)
24 mo. Lease through Chrysler
$330/mo for 24 mos Residual - $30,500K
Cost of payments: $7,920
Total cost for 24 mos: $12,920
Real cost per month: $538
Amount principal was reduced over 24 mos by about $4,000 (still not a lot)
If you can afford to go with traditional finance on the Hard Rock, DO IT.
He hasn't told us if he is going to wheel it in the dirt and on trails yet...or if he plans on adding items like a lift, tires, skids, etc.
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Related Threads
?
?
?
?
?
Ask a question
Ask a question
Jeep Wrangler Forum
9M posts
468K members
Since 2005
A forum community dedicated to Jeep Wrangler owners and enthusiasts. Come join the discussion about reviews, performance, trail riding, gear, suspension, tires, classifieds, troubleshooting, maintenance, for all JL, JT, JK, TJ, YJ, and CJ models!