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2016 Grand Cherokee lease buyout?

GrumpiebkGrumpiebk Posts: 7
edited December 2019 in Jeep
Have a 2016 JGC Overland on 39 month lease. Time to make a decision - turn it in or buy it out. Residual is $24,000 and I’ve got 41,000 miles on it. $425 lease disposition fee and probably $500 worth of wear and tear the dealer can ding me on. Thoughts on turning in vs buying?
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  • MichaellMichaell ColoradoPosts: 179,844
    Grumpiebk said:

    Have a 2016 JGC Overland on 39 month lease. Time to make a decision - turn it in or buy it out. Residual is $24,000 and I’ve got 41,000 miles on it. $425 lease disposition fee and probably $500 worth of wear and tear the dealer can ding me on. Thoughts on turning in vs buying?

    Have you gotten a buy bid from CarMax, Carvana and Vroom? That will tell you the market value - if that's less that the buyout value, no sense paying extra.

    Have you had the end of lease inspection? You might be surprised how much damage can get waived.

    I put a good sized dent into the front passenger door of my Jetta lease about 2 months before I turned it in. Waived.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Michaell said:

    Grumpiebk said:

    Have a 2016 JGC Overland on 39 month lease. Time to make a decision - turn it in or buy it out. Residual is $24,000 and I’ve got 41,000 miles on it. $425 lease disposition fee and probably $500 worth of wear and tear the dealer can ding me on. Thoughts on turning in vs buying?

    Have you gotten a buy bid from CarMax, Carvana and Vroom? That will tell you the market value - if that's less that the buyout value, no sense paying extra.

    Have you had the end of lease inspection? You might be surprised how much damage can get waived.

    I put a good sized dent into the front passenger door of my Jetta lease about 2 months before I turned it in. Waived.
    Just got a quote from vroom for $25,000. Seems to make sense to sell. I’d like to get into a new (‘19 or 20) altitude but the lease deals right now don’t seem very good. Walked out of the dealer yesterday after they wouldn’t move off $450/mth for 42 month/12k miles. Thought they were insane. I’m at $450 now on my overland for 39/15 with 2k down.
  • MichaellMichaell ColoradoPosts: 179,844
    Grumpiebk said:

    Michaell said:

    Grumpiebk said:

    Have a 2016 JGC Overland on 39 month lease. Time to make a decision - turn it in or buy it out. Residual is $24,000 and I’ve got 41,000 miles on it. $425 lease disposition fee and probably $500 worth of wear and tear the dealer can ding me on. Thoughts on turning in vs buying?

    Have you gotten a buy bid from CarMax, Carvana and Vroom? That will tell you the market value - if that's less that the buyout value, no sense paying extra.

    Have you had the end of lease inspection? You might be surprised how much damage can get waived.

    I put a good sized dent into the front passenger door of my Jetta lease about 2 months before I turned it in. Waived.
    Just got a quote from vroom for $25,000. Seems to make sense to sell. I’d like to get into a new (‘19 or 20) altitude but the lease deals right now don’t seem very good. Walked out of the dealer yesterday after they wouldn’t move off $450/mth for 42 month/12k miles. Thought they were insane. I’m at $450 now on my overland for 39/15 with 2k down.
    Lease deals today are not as good as they were 3 years ago.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

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