Car Buying Advice - Leasing a Jeep?

anthony135

Hello,

First time ever considering a lease. I am looking to buy or lease a Grand Cherokee Laredo 75th addition with Navigation. Here's the break down:

~37,500 w/Taxes for the car
~ 5,500 for my trade
~ 2,300 for a down payment
300 a month for 36/15,000 miles a year

Residual Value is 22,198- May look to buy at the end.

Is that a good deal for a lease?

On the other side if I decide to buy.

37,500 w/Taxes
5,500 for my trade
9,000 for a down payment
430 a month for 60 months

Which one is a better deal?


Only issue that I am debating about financing because it's a lot more a month.... but I won't struggle with the payment.

Thank you!

kyfdx

anthony135 said:

Hello,

First time ever considering a lease. I am looking to buy or lease a Grand Cherokee Laredo 75th addition with Navigation. Here's the break down:

~37,500 w/Taxes for the car
~ 5,500 for my trade
~ 2,300 for a down payment
300 a month for 36/15,000 miles a year

Residual Value is 22,198- May look to buy at the end.

Is that a good deal for a lease?

On the other side if I decide to buy.

37,500 w/Taxes
5,500 for my trade
9,000 for a down payment
430 a month for 60 months

Which one is a better deal?


Only issue that I am debating about financing because it's a lot more a month.... but I won't struggle with the payment.

Thank you!

If it's a vehicle you plan on owning long-term, you are almost always better off buying from the start. If you don't have an issue making the payments, then you should buy.

Don't be swayed by that low lease payment. You are putting up $7800 to get it that low. The true monthly cost is over $500/mo.

anthony135

Thank you for the feedback!

Do you think it's wise to go into a 66 or 72 month finance? Again, only asking, but I thought about potentially paying more into the payments. Potentially doing double monthly payments when I can.

Do you think 37,500 for a 75th addition is a good price?

kyfdx

anthony135 said:

Thank you for the feedback!

Do you think it's wise to go into a 66 or 72 month finance? Again, only asking, but I thought about potentially paying more into the payments. Potentially doing double monthly payments when I can.

Do you think 37,500 for a 75th addition is a good price?

We don't track pricing.

66-72 months is fine, if the rate is the same as the 60 month term. If the rate is higher, then it's not worth it.