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Discussion Starter · #1 ·
Ok boys and girls. Need help
I have a 2013 commando green freedom Ed. 2 door..Loaded with 25k miles
Pay $289 a month 39 months and is up in October.
Owe 18,500. At end. And have 45k miles total allowed
It's brand new ...only hand washed and the wife babied it

Should just keep it and wait for the redesign in 2017

Just wonder how much it will affect trade in a year later since I know I have a lot of equity based on I'm in Chicago and dealers are still selling older lesser 2door for 29-33k

Any advice and or creative thinking appreciated

Ohhh...I keep getting dealers calling and sending me mailers saying I can get a new 2016 for less than I'm paying now. But yet to have them even come close. Dealers hit me at $100 to 150 more a month on the same lease ....just stupid
 

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There's a lot of factors to consider, but at the face value it sounds like you should buy it out at the end of the lease. Could you buy the same Jeep with that many miles for less than $18.5k? Not a chance. If you want to get rid of the Jeep, I would still sell it private party for whatever the current residual is and pocket the rest. I had some equity in a lease on a car that I didn't like, so I sold it before the lease was over and walked away.
 

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You can't get a 2016 for less than your pay off so unless you just have to have something new, it doesn't make sense to trade it in. They know the used Jeep market is hot and of course they want to get you in a new one and sell yours. It's not like they're doing you a favor. Just wait until you've had a it paid off for a few years, then it get's REALLY hard to justify getting into something new.
 

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There's a lot of factors to consider, but at the face value it sounds like you should buy it out at the end of the lease. Could you buy the same Jeep with that many miles for less than $18.5k? Not a chance. If you want to get rid of the Jeep, I would still sell it private party for whatever the current residual is and pocket the rest. I had some equity in a lease on a car that I didn't like, so I sold it before the lease was over and walked away.
I was going to say pretty much the same thing. If the residual value is substantially below the current actual value, you should buy out your lease and either keep the Jeep if you want, or sell it and pocket the profit. Seems like a no brainer to me.
 

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Out of curiosity, how much did you put down up front?
Seems like a helluva deal.

Like others have said, ending on $18500 seems like a good price for a used Jeep that you know its history from day1.
 

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Discussion Starter · #6 ·
Jeep

Out of curiosity, how much did you put down up front?
Seems like a helluva deal.

Like others have said, ending on $18500 seems like a good price for a used Jeep that you know its history from day1.
We put $2500 down. Negotiated th hell out of it. Going in we planned all along to keep it. Just wish the wife would have got the unlimited ....she still loves the jeep and she would only change to get the 4 door. But she tells me we don't need it cause my Hummer H2 SUT has plenty of room for groceries...haha:huglove:
 

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My advice would be to forget about the payments that you've made to date. That money is in the wind either way. The issue here is whether you want to buy a jeep with 25k miles for $18,500.

That seems like a smokin' deal to me. You would be in the mid $20's easy if you walked in off the street and tried to buy that off a lot. I would just buy it.
 

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To save the hassle of buying it when the lease ends and then trying to sell it on your own, just take it to Carmax/local dealers for buyout quotes; see what they'll pay you for it outright. I did this with a lease my wife had before we got married. A couple weeks before the car was supposed to be turned over, we sold it to a dealer for more than the buyout. Put about $1000 in her pocket. We probably could have made more if we had bought it and then sold it privately, but selling to a dealer was 0 hassle. Good luck!
 

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Buy it out and stop leasing cars unless you can write it off on your taxes. I've always paid less than lease rates in the end and I never keep a car more than 3 years.
 

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Agree with all the others. That $18.5K residual was based on a lease where you would have put 45K miles on the Jeep. You'll probably have ~30K on it at the end of the lease. I can assure you that your dealer is REALLY hoping you don't buy it as they can sell it very easily for quite a good deal more than $18.5K .
 
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