New York 2018 JLU RUBICON LEASE TRANSFER $375/month) - Jeep Wrangler Forum
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Old 01-18-2020, 07:46 AM
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2018 JLU RUBICON LEASE TRANSFER $375/month)

Looking for interested parties to takeover my lease. Its $375/month, total 24,375miles allowance through october 2021, car currently has ~14,000 miles on it.

Transfer fee of $495 and $80 gap insurance fee

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Old 01-20-2020, 08:12 AM   #2
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So in the next 20 months of ownership it can only have 10,000 more miles put on it?
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Old 01-21-2020, 08:23 AM
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Quote:
Originally Posted by DaveRitsema View Post
So in the next 20 months of ownership it can only have 10,000 more miles put on it?


Unfortunately yes :/. $0.25 per mile above this, but also explains the super low payment on a $50k car.

I took this lease over from someone else who was original lessee.


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Old 01-21-2020, 12:12 PM   #4
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Unfortunately yes :/. $0.25 per mile above this, but also explains the super low payment on a $50k car.

I took this lease over from someone else who was original lessee.


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Yep, thats a tough one to get out from underneath. Not very attractive to a potential buyer when looked at a dollars per mile scenerio.

$375 per month for 20 months is $7500, add the transfer fee and gap insurance and your over $8000 to only drive 10,000 miles. .80 cents a mile before you put any fuel, insurance or plates is one expensive lease!
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Old 01-30-2020, 04:34 AM
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Yep, thats a tough one to get out from underneath. Not very attractive to a potential buyer when looked at a dollars per mile scenerio.



$375 per month for 20 months is $7500, add the transfer fee and gap insurance and your over $8000 to only drive 10,000 miles. .80 cents a mile before you put any fuel, insurance or plates is one expensive lease!


So lets assume a standard 12k/year lease. Pricing out a similar vehicle, you get a $696/month lease payment. This works out to $0.70/mile per your prior calculation.

If we assume a takeover of this vehicle runs the same clip of 10k miles a year, your total monthly cost would be:

1) 375/month * 20 months = $7500

In 20 months you would put 20k miles assuming 12k miles a year. I have a balance of 10k miles meaning you pay overage at $0.25/mi for the other 10k:

2) 10k miles * $0.25/mi = $2500

3) $2500/20 months = $125/month

1) + 3) = “revised” monthly payment = $500/month

Versus walking into your dealer now you would pay ~ $700/mo.

Now obviously in this case you would pay the mileage overage as a lump sum at time of vehicle return. But the financials assuming standard lease terms are pretty attractive.

This is only unattractive if someone Is planning on staying with the 10k remaining miles, which i doubt most people would be able to do.

Fuel/insurance/plates would be no different on a dealer bought car, and on transfer fee/gap insurance im sure thats something that can be worked out.


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Old 01-30-2020, 04:35 AM
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Old 01-30-2020, 04:42 AM
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And if i look at the more price attractive 3 year lease option, you would have to negotiate a $7150 discount with $0 down to make the same monthly payment of $500/month.

So not only do you get the freedom of a shorter lease term here, you are also getting it for cheaper than a 2 or 3 year lease @12k miles a year! Truecar showing avg dealer discount of $1800 FYI so i doubt most people would be able to negotiate $7k off and that would only get you to the same $500/month payment.

Net net if you do >10k mi/yr this is a pretty attractive lease takeover.






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Old 01-30-2020, 04:57 AM   #8
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2018 JLU RUBICON LEASE TRANSFER $375/month)

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Originally Posted by Swishaholic View Post
This is only unattractive if someone Is planning on staying with the 10k remaining miles, which i doubt most people would be able to do.

Seems like a good option for the right person. My bought new 2014 JKU has 23K miles. I have around $60K total into the Jeep, $29K bought price + mods. That comes out to $2.60/mile. Kinda wish I wouldn’t have done the calculation.
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2014 JKU Willys 6-spd, RK X-Factor 3.5", Fox Resis, KM3 37s, PR60s, Eaton e-lockers, 5.13, Atlas II 3.8, and another $10K in miscellaneous parts.
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Old 02-06-2020, 02:11 PM
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bump, also now posted on swapalease
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Old 02-12-2020, 02:44 PM   #10
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Do you have the option to buy at the end? If so, what is the cost to buy out at the end of the lease?


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Old 02-14-2020, 01:57 PM
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Do you have the option to buy at the end? If so, what is the cost to buy out at the end of the lease?


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Yup, $38,760


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