I'm thinking about doing the same thing but ride the lease up to 36 months while keeping an eye for the interest rates to drop on the buyout refinance.
This is very helpful as a current shopper, can you share what the lease payment was prior to you buying out your lease so I can get an idea as to what I should be expecting, mind you I have excellent credit rating. Thanks.!
So, if I understand this correctly you paid the buyout ($52.6k) + 3 months payment $2.0k ($54.6k-$52.6k). So does that mean that the total cost to lease was $54.6k - $52.4k (agreed OTD price) + $1.6k (doc and acquisition fees) = $3.8k? So as long as you saved at least $3.8k off by leasing over buying it was a good decision.
The main reason I did the lease quick buyout was to get the $11K incentive from the GOV. If I would have financed the Jeep I would have only gotten what the dealer discounted. If you make over a certain amt you don't qualify for the 11k incentive.
Ha, good point and even worse I sold my 4runner prior to buying this Jeep. I had the itch for a long...... time. I am rolling the dice and having a good time so far.
Awesome! I need to do the exact same thing in April and I was afraid it was too good to be true. Just seems unethical to get 12k in rebates/discounts under presumption of lease and turn around 3 months later and purchase. I got a 2024 Rubicon 4XE and was a little upside down on my Galdiator Mojave, but the discounts made it happen. Well done. Thanks again.
Did you know that 52k number before going into the lease? Just feel like you could have gotten screwed if that number was higher. I’m considering this on a ‘23 4xe
I did a lot of research and I am very concerned because I don't trust the dealers etc. I just know now that it worked out. There is no penalty for buying out your lease after 3 months, maybe even less.
@@ScottsReviews the dealer says it is prorated from the residual value. Do you remember what your residual value was? The MSRP of my car in question is around 65k as well
Thank you so much for making such an informative video. Why did you have to pay the sales tax on the full sales price upfront instead of the prorated lease amount ? In your negotiation did you tell them at the end you plan to buy-back immediately or were you upfront after you negotiated the sales price?
@@markexploringnewstuff it was really bad at some point I had to stabilize the footage or cut it out. I want to test it more tomorrow and see if it’s worth talking about.
Instead of paying off the full vehicle within 3-4 months after the lease signing, could you have made lease payments for the full 36 months and then AT THE END of the lease, purchase the jeep for the residual value?
Yes of course. Like a normal person. Ha. They tell you the amount you would owe at the end of the lease when you signed the lease if you want to buy it.
@@ScottsReviews Thanks!! Seems like between the discounts/rebates you could potentially lease one of these bad boys and perhaps sell it at the residual value or more at the end of 36 mo???
The math doesn’t work - you pay all the lease fees/interest - residual has nothing to do with the payments you make. You want out asap as the mopar lease money factor is not that good
I'm thinking about doing the same thing but ride the lease up to 36 months while keeping an eye for the interest rates to drop on the buyout refinance.
This was super helpful! Thank you!
This is very helpful as a current shopper, can you share what the lease payment was prior to you buying out your lease so I can get an idea as to what I should be expecting, mind you I have excellent credit rating. Thanks.!
So, if I understand this correctly you paid the buyout ($52.6k) + 3 months payment $2.0k ($54.6k-$52.6k). So does that mean that the total cost to lease was $54.6k - $52.4k (agreed OTD price) + $1.6k (doc and acquisition fees) = $3.8k? So as long as you saved at least $3.8k off by leasing over buying it was a good decision.
The main reason I did the lease quick buyout was to get the $11K incentive from the GOV. If I would have financed the Jeep I would have only gotten what the dealer discounted. If you make over a certain amt you don't qualify for the 11k incentive.
Someone obviously bought your common sense before you went after a Junk Jeep.
Ha, good point and even worse I sold my 4runner prior to buying this Jeep. I had the itch for a long...... time. I am rolling the dice and having a good time so far.
I am planning to get one,Will you not pay the remaining lease amount + residual value when you buy out early? Can you please clarify?
Church lol
Awesome! I need to do the exact same thing in April and I was afraid it was too good to be true. Just seems unethical to get 12k in rebates/discounts under presumption of lease and turn around 3 months later and purchase. I got a 2024 Rubicon 4XE and was a little upside down on my Galdiator Mojave, but the discounts made it happen. Well done. Thanks again.
Unethical... the dealers are that and it's their game. Let me know how it goes!!
Did you know that 52k number before going into the lease? Just feel like you could have gotten screwed if that number was higher. I’m considering this on a ‘23 4xe
I did a lot of research and I am very concerned because I don't trust the dealers etc. I just know now that it worked out. There is no penalty for buying out your lease after 3 months, maybe even less.
@@ScottsReviews the dealer says it is prorated from the residual value. Do you remember what your residual value was? The MSRP of my car in question is around 65k as well
Thank you so much for making such an informative video. Why did you have to pay the sales tax on the full sales price upfront instead of the prorated lease amount ? In your negotiation did you tell them at the end you plan to buy-back immediately or were you upfront after you negotiated the sales price?
Did similar 20th Ann rubicon - 76k price, 26k off in total. Bought out the lease after 1 month
Great deal on the Jeep. Really nice job on demonstrating the value of the Pocket 3.
I’m not sure why I’m getting this bobbing effect like it’s losing me during the tracking feature
Didn’t notice any bobbing while watching the video
@@markexploringnewstuff it was really bad at some point I had to stabilize the footage or cut it out. I want to test it more tomorrow and see if it’s worth talking about.
Instead of paying off the full vehicle within 3-4 months after the lease signing, could you have made lease payments for the full 36 months and then AT THE END of the lease, purchase the jeep for the residual value?
Yes of course. Like a normal person. Ha. They tell you the amount you would owe at the end of the lease when you signed the lease if you want to buy it.
@@ScottsReviews Thanks!! Seems like between the discounts/rebates you could potentially lease one of these bad boys and perhaps sell it at the residual value or more at the end of 36 mo???
The math doesn’t work - you pay all the lease fees/interest - residual has nothing to do with the payments you make.
You want out asap as the mopar lease money factor is not that good