Lease 2017 JK now or wait and lease the 2018 JL? - Jeep Wrangler Forum
Jeep Wrangler Forum

Go Back   Jeep Wrangler Forum > JK Jeep Wrangler Forum > JK General Discussion Forum

Join Wrangler Forum Today


Like Tree14Likes
  • 3 Post By 2five22
  • 6 Post By Incognito_
  • 2 Post By Other_Erik
  • 1 Post By JeepJustKidding
  • 2 Post By kacper244
Reply
 
Thread Tools

Please support our sponsors and let them know you heard about them on WranglerForum.com
Old 05-14-2017, 04:14 PM
Thread Starter
  #1
Newb
 
Join Date: May 2017
Location: New Jersey
Posts: 7
Lease 2017 JK now or wait and lease the 2018 JL?

I found a 2017 JK with all the options I want for $30,590. I spoke with the sales person and after some negotiating we came up with $300/month with only 1k down for 48 months lease. From the rumors it looks like the JL will start hitting the dealers around December. Should I wait and lease the 2018 JL or just lease the 2017 JK now. I can't go any more then $300/month and I'm pretty sure the JL will be much more to lease. What would you do?

kacper244 is offline   Quote
Old 05-14-2017, 04:36 PM   #2
Jeeper
 
15JKUR's Avatar
 
Join Date: Jun 2015
Location: Leavenworth, IN
Posts: 941
I would go for the JK, for the reasons you listed plus the JL may have kinks that need worked out since its a new gen.

__________________
2018 Jeep Wrangler Sport (Ocean Blue)
15JKUR is offline   Quote
Old 05-14-2017, 04:57 PM   #3
Newb
 
Join Date: May 2017
Posts: 3
I'd take the last model year over the first in a heartbeat, and I did
Casperthefriendlyjku is offline   Quote
Sponsored Links
Advertisement
 
Old 05-14-2017, 05:03 PM   #4
Jeeper
 
2five22's Avatar
 
Join Date: Jul 2012
Posts: 2,213
Neither. Buy a Wrangler.
bmidd31, RockyBlue and SOCALGAL like this.
2five22 is offline   Quote
Old 05-14-2017, 05:17 PM   #5
Jeeper
 
Join Date: May 2017
Posts: 123
U should be able to do better on 48 month lease. $300 per month is more of a 36 month lease price, wouldn't go beyond that. Find out the money factor and the buy out at the end of the lease. Multiply your money factor by 2400 to figure out what the financing rate is.

To answer your question though, get a JK and lease JL after your lease is up in 36 months. By the time kinks should be worked out.
Rmerkushen is offline   Quote
Old 05-14-2017, 05:40 PM   #6
SRM
GOT DOORS?

WF Supporting Member
 
SRM's Avatar
 
Join Date: Aug 2012
Location: RI
Posts: 568
Your call. I purchased a 2010 Camaro SS in late 2009. First run of this vehicle, and also, the most reliable I've ever owned.
__________________
2012 Sport S Super-high puck leveling kit - Fully adjustable Rubi take-off shocks - 4:10 open diffs propelling extremely large 32's - Audiophile quality 130 - virtually indestructible VDP stubbies - Air Dam delete, shaves 2 seconds off the quarter - Stock fenders modified to ghetto style flats - Brake pedal rattle fix (bungee cord) - Decal delete adding 60 more HP - "Hellwig'd", run the Nuerburgring in 7 flat - 9.6sec @ 143mph

2018 Challenger Hellcat
SRM is offline   Quote
Old 05-14-2017, 11:30 PM   #7
Jeeper
 
Incognito_'s Avatar
 
Join Date: Sep 2015
Location: Phoenix, AZ
Posts: 986
Leasing a Wrangler for 3 years is no different than taking $12,000, putting the cash in a pile and setting it on fire.

Buy it and sell it in 3 years for only a few K less than you bought it.
Incognito_ is offline   Quote
Old 05-15-2017, 05:17 AM   #8
Jeeper
 
Other_Erik's Avatar
 
Join Date: Jun 2014
Location: Northern Virginia
Posts: 1,121
Let me get this straight. The dealership wants $1k down and $300/mo for 48 months on at $31k Jeep. Let's work out the Lease payments...

$1,000 + (48*300=$14,400) + ((Payoff amount?)) = $LeaseFulfilled

Purchasing the same Jeep, I'm assuming your $30,590 is the MSRP. Closest I can configure is a Willy's Wheeler with package 24K (auto trans, Willy's package, VIC, and UConnect) for an MSRP of $30790
The invoice price on this package deal is $29,819. Subtract 6 percent of that and your purchase price is down to $28029.86
Split that up into 48 payments at 2.99% interest and your purchase payoff will be $620/month for a total of $29,774 in payments.

Purchase works out distinctly in your favor unless the 4-year lease payoff is under $14,300 - I doubt that since working the numbers through bankrate that would make your lease payment $384.42/mo. At 300/mo, your payoff looks more like $18,500 - all of this assuming your local tax rate is typical 3% and the lease office is using real new car lending rate of 2.99 on a 48-month.
Back to the $LeaseFulfilled equation:
$1000 + (48*$300=$14,400) + 18500 = $33,900. That means your lease terms have you piling $4,126 and setting it on fire for the convenience of being able to wait 4 years and trade in a vehicle that keeps its value better than residuals ever predict. In 4 years, with typical depreciation for a Wrangler, the one you're looking at should still fetch around $21-22k in stock form, meaning you're paying worst case $8700 to own it for 4 years, or best case scenario $11,900 to lease for 4 years.

Unless you're doing this for business tax write-off, you'd be shafting yourself going with lease instead of purchase.

Oh, forgot to mention, 2018 JK and JKU will still be on the table for probably at least the first 6 months of production (September 2017 - March 2018), so you could always go that route.

Best,
O_E
bmidd31 and Fungun like this.
__________________
Current - 2016 Hydro Blue JK 2-dr Rubicon - Lighting by JWS, Shrockworks sliders, Riddler D44 Covers, Frankenlifted Qtec Max Duty/Nitro 8.0
Wife's - 2013 True Blue JKU 4-dr Sport Unlimited - AEV lift, 35's, regeared, JWS headlights
Prior/Sold - 2003 Audi RS6 - RNS-E, KWV3's, K40HW, Execu-rocket
Prior/Prior/Sold - 1995 Hunter Green YJ - SOA, 35's, etc... More rust than vehicle
Other_Erik is offline   Quote
Old 05-15-2017, 06:32 AM   #9
Jeeper
 
Join Date: Jun 2015
Location: Plymouth, MA
Posts: 1,004
Run away screaming from that lease deal!
pcardoza is offline   Quote
Old 05-15-2017, 06:44 AM   #10
Jeeper
 
Join Date: May 2017
Posts: 30
Quote:
Originally Posted by Other_Erik View Post
O_E
Well put.
Other_Erik likes this.
JeepJustKidding is offline   Quote
Old 05-15-2017, 08:34 AM   #11
Jeeper
 
Join Date: Aug 2016
Posts: 904
besides the math on lease vs buy.. which is totally correct.... I have a question on your budget of $300 a month.. Have you planned to insure it and do you realize how much fuel you will burn in this JK?
Only reason I ask is the same reason I tell my 17 year old to not get a JK till he gets thru college. His little paid for car gets 2 times the milage of a stock JK, and his insurance as a new driver on 2wd vs 4wd is significant.. I have 2 vehicles myself and my Chrysler 300 with a supercharged 5.7 hemi in it gets way better milage than my JK and is 40 percent cheaper to insure. Sticker on 300 was over 2 times that of the JK...My point is if you are scraping by to even get into a JK, then the fuel and insurance might become a factor.
GetRDun is offline   Quote
Old 05-15-2017, 08:37 AM   #12
Jeeper
 
Join Date: May 2017
Posts: 30
Jeeps get terrible MPG due to aero and possibly the gearing on it and large, heavy tires.

A 600 mile drive at an avg of 70mph nets 16.5 mpg. Headwind makes this number worse.
JeepJustKidding is offline   Quote
Old 05-15-2017, 08:48 AM   #13
Jeeper
 
15JKUR's Avatar
 
Join Date: Jun 2015
Location: Leavenworth, IN
Posts: 941
Quote:
Originally Posted by GetRDun View Post
besides the math on lease vs buy.. which is totally correct.... I have a question on your budget of $300 a month.. Have you planned to insure it and do you realize how much fuel you will burn in this JK?
Only reason I ask is the same reason I tell my 17 year old to not get a JK till he gets thru college. His little paid for car gets 2 times the milage of a stock JK, and his insurance as a new driver on 2wd vs 4wd is significant.. I have 2 vehicles myself and my Chrysler 300 with a supercharged 5.7 hemi in it gets way better milage than my JK and is 40 percent cheaper to insure. Sticker on 300 was over 2 times that of the JK...My point is if you are scraping by to even get into a JK, then the fuel and insurance might become a factor.
Really? I thought Wranglers were usually cheaper to insure. I had a 2013 Ford Taurus SHO and my insurance was about 3 times higher on that than my JKUR.

Edit: Forbes has the JK as the 5th cheapest new vehicle to insure.
__________________
2018 Jeep Wrangler Sport (Ocean Blue)
15JKUR is offline   Quote
Old 05-15-2017, 08:57 AM   #14
Supporting Member

WF Supporting Member
 
TerryC6's Avatar
 
Join Date: Jan 2014
Location: Hesperia, CA
Posts: 7,340
Quote:
Originally Posted by 15JKUR View Post
Really? I thought Wranglers were usually cheaper to insure. I had a 2013 Ford Taurus SHO and my insurance was about 3 times higher on that than my JKUR.

Edit: Forbes has the JK as the 5th cheapest new vehicle to insure.
Yep my Jeep cost me a $600 a year for full coverage.
__________________
Terry

35" Baja MTZ P3's - Level 8 Tracker Pro 5 Wheels - Dynatrac ProGrip Brakes - MetalCloak 2.5" GC Suspension, 6Pak Edition - Griffin Attenuator - Artec Front Axle Armor - Nitro Axle Sleeves - JCR Vanguard Bumpers - Poison Spyder Brawler Rockers & Bombshell Diff Covers - RockHard 4x4 Skid's & Sport Cage - Genesis Dual Battery Kit with G Screen - SPOD - Zeon 10-S - VisionX headlights - Traildash 2 - Morris Mule Trailer
TerryC6 is online now   Quote
Old 05-15-2017, 08:58 AM   #15
219
Jeeper
 
219's Avatar
 
Join Date: Apr 2017
Location: Crown Point, IN
Posts: 72
Quote:
Originally Posted by Incognito_ View Post
Leasing a Wrangler for 3 years is no different than taking $12,000, putting the cash in a pile and setting it on fire.

Buy it and sell it in 3 years for only a few K less than you bought it.
Not entirely. You can buy the vehicle for what's left on the principal. If you're driving less than 10k mile/year it's likely that after 3 years it's likely you can buy it for whats left on the loan for less than market value. I've done this with a few cars and have come out on top.

I will however agree with you if you don't end up purchasing the vehicle at the end of the 3 years.
219 is offline   Quote
Old 05-15-2017, 02:30 PM
Thread Starter
  #16
Newb
 
Join Date: May 2017
Location: New Jersey
Posts: 7
Quote:
Originally Posted by 219 View Post
Quote:
Originally Posted by Incognito_ View Post
Leasing a Wrangler for 3 years is no different than taking $12,000, putting the cash in a pile and setting it on fire.

Buy it and sell it in 3 years for only a few K less than you bought it.
Not entirely. You can buy the vehicle for what's left on the principal. If you're driving less than 10k mile/year it's likely that after 3 years it's likely you can buy it for whats left on the loan for less than market value. I've done this with a few cars and have come out on top.

I will however agree with you if you don't end up purchasing the vehicle at the end of the 3 years.
I am planning on purchasing the vehicle at the end of the lease. The 300/month was on a 3 year lease by mad. I can probably get ut down to $280/month. The insurance is going to be significantly cheaper than my current car, i called my insurance agent and found out. Also, I do have an extra budget for the fuel.
kacper244 is offline   Quote
Old 05-15-2017, 02:36 PM
Thread Starter
  #17
Newb
 
Join Date: May 2017
Location: New Jersey
Posts: 7
Thank you guys for all the good points. I think I will just wait until the JL comes out and then make my decision. I kinda want the JL though after seeing the new interior and improved engines/ fuel exonomy.
15JKUR and JeepJustKidding like this.
kacper244 is offline   Quote
Old 05-16-2017, 10:51 AM   #18
Jeeper
 
Join Date: May 2017
Posts: 103
Quote:
Originally Posted by TerryC6 View Post
Yep my Jeep cost me a $600 a year for full coverage.
I concur. I have a '17 Rubicon Recon with a $51k sticker price and my insurance is only $850/yr. Never had car insurance this low before on anything I've ever had. And that includes a new Ford Ranger that had a $11k sticker years ago.

AlohaTwister is offline   Quote
Reply

Tags
jeep , wrangler

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off






All times are GMT -5. The time now is 10:55 AM.


Powered by vBulletin® Version 3.8.8
Copyright ©2000 - 2020, vBulletin Solutions, Inc.
Search Engine Optimization by vBSEO 3.6.1
User Alert System provided by Advanced User Tagging v3.1.0 (Pro) - vBulletin Mods & Addons Copyright © 2020 DragonByte Technologies Ltd.
vBulletin Security provided by vBSecurity v2.2.2 (Pro) - vBulletin Mods & Addons Copyright © 2020 DragonByte Technologies Ltd.

Jeep®, Wrangler, Liberty, Wagoneer, Cherokee, Gladiator, Mopar and Grand Cherokee are copyrighted and trademarked to FCA US LLC.
Wranglerforum.com is not in any way associated with FCA US LLC.