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Old 07-07-2014, 08:10 PM   #1
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Mods to a lease ???

Hey guys I'm new to the jeep world, had 2 ram (heavily modded each) previous. So far I'm loving my jeep. It's a 2014 unlimited sport. So as the title says I'm leasing it now and diff plan on buying it out once it comes time. But do you guys think it's advisable to mod and heavily mod a leased jeep ? Thanks for the input

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Old 07-07-2014, 08:13 PM   #2
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I wouldn't. But that's just me

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Old 07-07-2014, 08:15 PM   #3
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I'm leasing and have modded mine. I plan to buy when the lease is up. I'm saving the stock parts just in case, though.
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Old 07-07-2014, 08:15 PM   #4
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only if you are going to buy it...or if you transfer everything back before you turn it in which whould be a total PITA in my opinion...
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Old 07-07-2014, 08:18 PM   #5
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If you save all the OEM parts and do nothing but bolt on mods, I could not see what business it would even be of the dealer or leasing company, especially if your going to buy it out at end of lease. But if you decide to return it after the lease, PITA to be sure. No fun "un modding".
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Old 07-07-2014, 08:29 PM   #6
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I would read the fine print of your lease agreement and see what the stipulations are. A lease is nothing more than a long term rental agreement.
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Old 07-07-2014, 09:59 PM   #7
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With leasing you can do four things, buy it at the end, trade it in just before the end of the lease, sell it private party or turn it in. The banks only care about two things, getting the vehicle back according to the lease or you/someone paying them for the outstanding balance/residual.

I have my 13 JKU built to my liking. I plan on buying at the end or selling it private party and keeping any profit. Any unforeseen economic collapse aside, with a residual of 18k and the historically strong secondary market. I would at least break even on the vehicle and mods. Given that 7 year old 3.8 JKUs with less mods sell for 18-22k I feel relatively safe in my conclusion.
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Old 07-08-2014, 01:46 AM   #8
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Quote:
Originally Posted by Freedom JK View Post
I would read the fine print of your lease agreement and see what the stipulations are. A lease is nothing more than a long term rental agreement.

This is the best answer. It is the leasing companies' business because the vehicle belongs to them, not the lessee, until it is paid for by the lessee.
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Old 07-08-2014, 02:07 AM   #9
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No... but it's your money and that's your choice. It sure begs the question... would you renovate a house that you are leasing? Maybe you would with a lease to buy contract. The difference is a house is typically an investment - assuming you buy low and sell high.

But were talking vehicles...

Therefore, just keep in mind, at the end of the term, you'll have a big loan to fund and a used Jeep to deal with.

When they get old they need more maintenance - big loan, more maintenance.

You get the picture.

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Old 07-18-2014, 09:46 AM   #10
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I just leased my 14 altitude and I'm debating the same thing. I'm pondering getting 16s and putting 35s on them and selling the 18 inch altitude wheels and those tires. 18s are hard to sell though I guess. I'm also doing a 2.5 RC budget boost to clear the 35's so that's where I get nervous is tinkering with that. I plan on buying at the end of my lease anyways because I will be commissioning in the Army at that time, my only reservations are what will the dealer think when I show up at lease end and it's lifted, on 35s, aftermarket wheels, possibly a new front bumper, and various other things. I know for a fact though I won't be doing any real major overhauling like regearing or a huge lift until after I purchase it. Let me know what you decide to do, as I've already got these tires and wheels in a cart ready to buy ha....
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Old 07-18-2014, 04:42 PM   #11
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For my own knowledge as I have never leased, why would you lease a vehicle when you say you already know your going to purchase it. When the time comes to purchase it from the lein holder they can charge you any purchase price they want, it may very well be more than fair market value. All your lease payments do not go towards any principle. It just seems on a 3 year lease with a $25,000 valued Jeep assuming a 350/mo payment you would spend $12,600 and have zero equity, then assuming average resale you would probably have to buy the jeep from lease holder for say 17k. So you spent $29, 600 + whatever lease down payment you had to make. This versus purchasing same Jeep 5 yr note payments of atleast 425/mo. After 3 years you would only owe $9, 700 versus the leased way where after the 3yrs you would owe atleast 17k. Just wondering if there is something I am missing about leasing specifically when you know you already want to buy it off lease?
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Old 07-18-2014, 04:53 PM   #12
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Maybe they can't get a loan for purchase.
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Old 07-18-2014, 05:11 PM   #13
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For my own knowledge as I have never leased, why would you lease a vehicle when you say you already know your going to purchase it. When the time comes to purchase it from the lein holder they can charge you any purchase price they want, it may very well be more than fair market value. All your lease payments do not go towards any principle. It just seems on a 3 year lease with a $25,000 valued Jeep assuming a 350/mo payment you would spend $12,600 and have zero equity, then assuming average resale you would probably have to buy the jeep from lease holder for say 17k. So you spent $29, 600 + whatever lease down payment you had to make. This versus purchasing same Jeep 5 yr note payments of atleast 425/mo. After 3 years you would only owe $9, 700 versus the leased way where after the 3yrs you would owe atleast 17k. Just wondering if there is something I am missing about leasing specifically when you know you already want to buy it off lease?
Do you just assume that everyone has awesome credit? I'm leasing because it's about $100 less per month and I have BK on my credit report from 5 years ago. The dealer already told me that the residual for mine will be $20k when the lease is up. I got 6% financing and paid $2k down so I pay $380/mo. When the lease is up, my BK should be off my report and I can get a lower rate and pay less than what I pay now. I was looking at a 7 year loan and paying $400/mo for just a stock Wrangler Sport with auto and a/c. So I'm leasing the JKWW that I wanted to buy but couldn't afford.
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Old 07-18-2014, 07:00 PM   #14
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Gotcha. Sounds like it works for your situation with credit issues. I did not take that into consideration, thanks for clarification.
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Old 07-18-2014, 08:21 PM   #15
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No problem. At the time, Jeep was advertising a stock Wrangler lease for $279/mo. but that was bone stock; man trans, soft top etc. If you get on Jeep.com and do the build & price, it will show you the price difference between buying/leasing and it's about $99 less for lease. Most people I know that lease never buy after 3 years, they just keep leasing a new one every 3 years.

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