In What World Does Jeep Live?

[DallasSteve]

Here in my world everything is in crisis, especially the economy. My plan was to get a vehicle to tow behind my motorhome. I want a Jeep Wrangler so I can flat tow it and take it off road. I know that Jeeps are more expensive than most comparable cars. I know they hold their value well.

About 3 months ago I looked at their website and they were offering a 36 month lease on the 4-dooor Wrangler for $229 per month with about $4,000 down. That was a pretty good deal, but I wasn't ready to lease yet. That was before the world turned upside down. I thought now the lease deal would be around $199 per month with so many people losing their jobs and the interest rate down to zero. I looked about 2 weeks ago and the deal had gone up to $249 per month with $4,000 down. Today they have gone up to $254 per month with $4,000 down.

I know this is a free enterprise economy and they can charge whatever they want. More power to them. I just want to know where they are living so I can move there and get out of this economic crisis. I can't believe they can sell/lease more than 2 or 3 of those toys in this world of the Corona panic.

[Grit_dog]

DallasSteve wrote:

I just want to know where they are living so I can move there and get out of this economic crisis. I can't believe they can sell/lease more than 2 or 3 of those toys in this world of the Corona panic.

Maybe they figured since you publicly proclaim that the pandemic is fake and nonsense they gave you the No Pandemic Here price!

[carringb]

Leases will become more expensive because residual values are plummeting. It's nothing nefarious. They're just using the long-standing formulas when establishing lease terms. Sometimes the finance arm will kick in some cash to makeup for lower residuals, but they probably aren't in a position to do that right now.

[Alan_Hepburn]

Last September we bought a 2017 Wrangler Unlimited Sport S for right around $24K. The dealer sold it as a "Certified Pre-Owned" - the previous owner was a rental agency and it was in like-new condition. Deals like that are available - you just have to look for them. We checked out cargurus.com and found the deal at a dealer about an hour away.

[cptqueeg]

WRT to cv19 the used car market where residual values are generated is dropping like a rock. The residual values of leased cars are dropping so leasing becomes more expensive - residual value is a primary factor in the equation to determine the monthly lease payment.

You'll soon find early lease returns on the market. Be patient.

[valhalla360]

Might also be a buy vs lease issue.

Saw an article today that some dealers are trying not to take lease cars back at the end of the lease because they can't get rid of them.

The lease payments take into account what they think can sell if for at lease end...They may be being cautious figuring a lower resale value if this doesn't end quickly. A lower resale value translates to a higher lease payment.

[DallasSteve]

rr2254545 wrote:
Also the lease conditions would prohibit you from making alterations to the car IE base plate - you would pay dearly at the end of the lease

You people act like this is my first rodeo. Get the dealer to do the alterations in the deal and, yes, your lease price will go up a little.

[MetalGator]

Just bought a 2020 Jeep Wrangler Sahara 4 door last weekend. Got a great deal, got a great trade in on our 2014 Jeep, and got 0% interest loan for 3 years. I guess maybe it depends on the dealership. Right now is a great time to purchase a new vehicle.

[bgum]

It appears that you are out of step with your world. We recently purchased a jeep Rubicon and while it is the most expensive of the Jeep line it will hold its value very well. There is off roads and off roads. You can off road without tearing it up. Avoid rocks, deep water, deep mud etc. and that will not diminish the value of the Jeep. If leased I would not alter it in any way. Deals come and go based on many factors. Just get in step.

[ppine]

Leasing a Jeep to tow around makes no sense.
Buy an older one in good shape instead.

[wildtoad]

All I know is altering a vehicle under lease is a bad idea. My son is an appraiser and Buyer for a local CarMax. They won’t put a modified Jeep on their lot. Sits too long to be worth their time or money. They go directly to auction.

One of my local Jeep dealers has a ton of Wranglers and other Jeeps. Talked to sales guy they are selling 4-5 a day at their location and sending a number of them to other dealers who have buyers for them. People still want cars and since it’s tax refund season, “free money from govment” they are buying. So not much incentive to discount.

[Y-Guy]

As mentioned leasing & off-roading is a bad idea.
I'm not sure how they would feel about adding a flat tow kit either.
I'd start watching the used market, or look at deals to purchase.

[DownTheAvenue]

There are very few times when leasing a vehicle makes any sense. Leasing a vehicle to use for recreational towing and off roading is at the top of the list for no sense whatsoever. The OP should find a nice used vehicle and then adapt it for towing.

Taking a new vehicle and adapting it for towing costs thousands of dollars, and then removing the equipment will cost that same amount. It will equate to about $100 a month over a 36 month lease. That will be on top of the initial payment at the beginning of the lease and the monthly lease payment.

Using the OP's best lease offer of $4000 initial payment equals $111 per month, the monthly lease payment of $229 is now $340 per month. Add the $100 monthly for adding and removing towing equipment, you are now at $440 a month. At the end of his 36 month lease, he will have thrown $15840 away!

[mowermech]

Wait. You want to lease a vehicle, then modify it for towing, and go off-roading with it (Perhaps Poison Spider Mesa or Metal Masher near Moab, UT)?
That just doesn't seem like a good idea to me. I would buy a good used Jeep, then make whatever modifications I want (limited only by my budget). Not having to worry about what the real owner thinks is a real plus, IMO.
I am very happy with my 2005 Wrangler Unlimited.

[rr2254545]

Also the lease conditions would prohibit you from making alterations to the car IE base plate - you would pay dearly at the end of the lease