Jeep Wrangler Forum banner

My lease is ending

7K views 45 replies 19 participants last post by  spencer2016 
#1 ·
Hey everyone!!

This might be a long-ish post, so I'm sorry in advance. I need all the advice I can get on whether or not I should buy out my jeep or not.

Here's the story:

I have a 2016 Saraha Unlimited that I leased starting in July 2016. My lease is up this October (2019). I went into the lease with the mindset of buying it at the end, so I ran up the miles. I was allowed 39,000 miles and I am well over that amount. It's July 2019 and I'm at 47,800 miles. My dealership charges 25 cents for every mile over the limit. About a year or two into the lease, my jeep started to have some issues but the dealership fixed everything and I haven't had any problems since then (knock on wood). My parents are worried that once I buy it and something goes wrong, I'll have to pay it all on my own because it won't be under the warranty anymore.

I installed a grille guard, led headlights, led tail lights, and remote start. I also have a bike rack and roof racks for a Thule. I just got new brakes and I get oil changes every 3,000-5,000 miles. I've been talking to a guy who owns and operates a custom jeep shop down the shore and he suggested that I have my mechanic take a look at it and get a transmission and differential service done as well as paying attention to the side tanks on the radiator because they can sometimes start to weep antifreeze. He also told me that Jeeps don't have as many problems as people say they do. I do know that I need new tires if I decide to buy it.

Right now, my options are buying it out or turning it in and paying penalties (I also have a few scratches on the bumper, a small dent on the hood, and a few scratches on the roof). If I turn it in, my parents really want me to get a brand new Jeep, but I know that 1) they're expensive and I don't want to spend money like that (you can save money by buying a 3-5 year old vehicle), 2) none of my current headlights or roof racks will fit on the new body, and 3) I don't like the way the all new jeeps look. I can't afford to finance a brand new jeep because I'd be paying over $600 a month and I don't want to lease again because now I'm in a hole that I can't seem to get out of. I leased my first jeep back in 2013 but it was a 2 door. I went over on the miles for that one too, but since we leased from the same dealership, they waived the fees. I don't like the idea of basically renting a car and having to watch the miles. I take a lot of road trips and out of all our friends, I have one of the biggest cars to pack all of our stuff into.

At the end of my lease, I will owe around $30,000. My mechanic suggested looking on cars.com or at dealerships to try and find a 2016-2018 Sahara Unlimited for around the same price but with a lower mileage. After doing the math, I'm driving around 16,000 miles per year and I read that wranglers last around 150,000 miles. At that rate, I'll only get around 6.5 more years with it before it craps out on me. I don't want to finally pay it off then have it break down on me within a year or two. If I can find a wrangler for around the same price and say 25,000-30,000 miles, then I'd probably be able to get around 7.5 more years with it as opposed to 6.5. The only thing is, would that be worth it? Would it be worth it to switch into a used wrangler with less miles even though I'd have to pay the penalties to turn my current jeep in? Would the difference in mileage make the penalty cost worth it?

I'm so confused and stuck on what to do so any and all advice is greatly appreciated. Thank you in advance!! :)
 
See less See more
#3 ·
so sounds like you are going to have to pay some where in the neighborhood of $2500 at least to turn in your rig that's if you only put 1200 miles on before Oct. So if your pay off is $30000 then you would essentially have to find a nicer rig that you could buy for $27500 to come out even or ahead. Realistically your 2016 jeep if taken care of and serviced on time which sounds like you have been doing should get to 300,000 miles. Sure you might have to do some repairs but nothing that will likely cost near what you would have to spend on a new rig.
 
#4 ·
300,000 miles?????? Are you serious???? I heard max 200,000 if you're lucky, but that they're more likely to break down at around 150,000 or sooner. I have never heard of them lasting that long!! I'm worried that once I finally pay it off 5 years from now, it'll just crap out on me. Like I'll hit 150k then it'll just stop lol. I found some other used jeeps around 30-32k with nav which is something I don't have but honestly that doesn't matter much to me. I'm also kind of worried about buying a used car because I don't know what the previous owners have done with it. Yeah carfax, but I don't trust all of that stuff. I know where my jeep has been and how I drive it and take care of it. I don't take it off roading, but I do make A LOT of short trips which I know can be really bad. Long trips are better, but it is what it is.

I also considered keeping my current jeep and buying a random beater car for $2500-$3000 just to use for work. I might get a job in NYC at some point and I don't want to drive my jeep to the bus stop and leave it there all day.. or even worse drive it into the city and pay $400/month on parking. That hurts just thinking about lol. Oversize fees are killer.
 
#6 ·
If you keep it, your base warranty has already expired and there is very little left on your power train warranty. So you may want to look into a Mopar extended warranty.
 
#11 ·
Here’s my 1 cents worth. I would not be afraid to shoot for 300k if I was the original owner and was fanatical about preventive maintenance. Will the engine last for for 300k, maybe but will be weak. Will the transmission make it, no. Will the diffs last, probably. Fuel injectors, no. Suspension components, no. Steering components, no. I mention these because you will have to replace as time goes by. There are just not enough high mileage units to know at this time. You will always come out $$$ ahead fixing what you have VS buying new. It always boils down to do you still like the ride, if yes keep it. Good luck.
 
#12 ·
Oh yeah, I'm in love with my Jeep. It's perfect. It's that granite crystal colour and the hard top matches. I have everything on it that I want, except I think my tail lights have a loose connection because my right blinker will randomly go out for a few minutes then come back on like nothing happened. I get that I'll have to replace things as time goes on, but as soon as I hear a weird noise or feel like something is off I bring it to my mechanic. Every time I get an oil change I have him look everything over too just in case he notices something that I don't. I'm not a car person by any means, so I don't even know what to look out for but I'm learning a little bit as time goes on. My parents have always leased their cars or just used their business cars. The one time they bought a certified pre-owned it was a honda ridgeline and the trans went within a few years so they got rid of it and leased something instead. They're super into just leasing because then everything is covered, but that doesn't really make sense to me. I feel like it's more expensive and more annoying to keep leasing because the car is never yours and you always have to be mindful of the miles.

Long story short is that I can't imagine driving anything besides a wrangler. I fell in love the first time I drove one back in 2013. Everyone keeps trying to talk me out of it and to get something more reliable like a toyota and I considered the new rav4, but if I'm going to pay $30k for a vehicle, it's going to be for something that I actually want. I just hope that my stubbornness doesn't backfire this time.
 
#13 ·
My $.02 worth, you’re paying more to buy than you would have from the get go. Don’t lease vehicles that you intend to put >12K miles on/year. Lease with the intent of getting a new car down the road or else just buy from the get go. If you can’t afford to buy it but you want to keep it long term, you probably shouldn’t be buying it. Business leases are an entirely different animal. I’ve done both in the past but my wife and I are getting older and she’s due next for a new vehicle. Since I won’t be doing the maintenance on it we may lease hers and keep my JK since it’s paid for and I have the extended warranty.
 
#16 ·
No reason a Jeep can't go a few hundred thousand miles. I just sold a bunch of take-off parts and the guy who bought my rock sliders has over 200,000 on his with very few problems. It's all about maintenance.


Good luck with whatever you decide.
 
#18 ·
I'm coming up on 135,000 miles on my '14 and it's almost broken in.

Don't lease a vehicle that you intend to put miles on and don't pay the rent for your favorite stripper. Life advice.
Oh, and don't say "down the shore". Snookie ruined that for you. Call it the beach like the rest of America. ;)
 
#19 ·
keep it if the engine is good. everything else can be fixed on your own. jeeps are super expensive right now for the JL's. You can also get big trade in values for the wrangler especially the 4 door.
 
  • Like
Reactions: spencer2016
#22 ·
I would need to sit down and look at the hard numbers of buying it out vs replacing it.

One thing I can add, everyone telling you 300k miles aren’t from NJ or PA (except RubiconSS)

They don’t understand the salt and rust we have to deal with. You may hit 300k but it is going to be more dependent of you driving it a lot over the next 7 years.

As far as your add ons, take them off and sell them separately.
 
  • Like
Reactions: spencer2016
#28 ·
Buying it out would cost around $30,000. Replacing it will cost that plus some for the penalties of the lease. I went over on the miles and have some minor scratches and dents that they'd charge me for. Then the work of having to take my add ons off and installing them onto the new jeep is also something I'm kind of dreading. My mechanic suggested leaving the grille guard on because it'd be more work to replace than just buying a whole new one. The fees for miles is 25 cents per mile so since I'm at around 48,000 and have August-October to go, I'll probably be close to 50,000 miles which will cost me around $2,500-$3,000 not including the fees for the dents and whatnot.

The salt and rust is ridiculous. I take it to the car wash and have them add the wax and all that stuff to the bottom but maybe I should go more often... I'm not sure how to help prevent and manage the rust in all honesty
 
#34 ·
I did a lease once. I knew when I did it I would go over on the miles so I paid a lower rate up front. O know it is too late for you to do that now, but might consider if you ever lease again.
Mine also had a dent or two. My salesman hooked me up with the paint less dent repair guy the dealer used and I paid him cash to take care of those.
I came out unscathed in the end.
I think if I were in your shoes, I'd keep the Jeep I know and love and just learn from the whole leasing experience. It isn't the best way to go, but sometimes the better way to go at the time.
Good luck with your decision and welcome to the forum. There is a wealth of knowledge around here!

Sent from my SM-G930V using Tapatalk
 
#37 ·
Sometimes to get repeat business the dealership will be willing to waive the additional fees for going over on the mileage, etc. Also, with extended warranty though it gives you peace of mind it is rarely worth it on vehicles that have been well maintained. The chances of a major powertrain component failing up to 100,000 is rare if servicing has occurred when it should. I'm not a fan of leases because I don't like being told how many miles I can put on. Sounds like you like what you're driving, if so get away from leasing and buy it out. If you're thinking continuing to lease push the dealer to waive any additional fees.
 
#40 ·
Dealers cannot just magically waive away mileage fees. Never, ever. Once they use up whatever standard lease loyalty waiver is in place by the bank they are done.
They simply roll the rest in and if you are lucky discount the new vehicle a little more as a consideration.
Either way, a strong negotiator would get to the same additional discount which means that the payment will always be lower without the miles rolled in.
I am not an expert but I do sell cars for a living.
Buying your lease out is usually a bad option but based upon the info in this thread it might make sense in this case, assuming the Jeep has a clean CarFax.
I live in north jersey btw and the group I work for has 2 Jeep dealerships 👍
 
#38 ·
Go to PDR now, get the dent fixed and touch up the scratches best you can, bite the bullet and write them a check for the overage on the mileage. Be done with it. Then you are free to buy anything you want. I would get a small car and let one of your other friends spend his money on a party wagon instead of you.

Why would you want to buy a rode-hard used car that needs tires and is scratched and dented for 30k? A used car that you have already had for 3 years on top of that. To me its not only unwise but a crazy bad decision. Wait until you are over 50, wealthy, and losing your hair to make financially crazy purchases like that.
 
#44 ·
I'm not a huge fan of the small cars especially with all the snow and harsh weather we get out here in NJ/NY/PA. I also feel pretty safe in the Wrangler with all the crazy drivers out there. I got into a pretty bad accident 3 years ago with my 2 door and it saved our lives. I got rear ended on the highway and she totalled her car but mine only had a little bit of damage. If anything, I'd be looking for an SUV but I need one that is able to get through the snow and floods
 
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Top