[Rivas]

I am currently trading out of 2021 Cherokee Trailhawk. It has been suggested/offered that I lease a 4xe. I have never done a lease and I fear they see this coming from a mile away. The 4xe is 57,800, they are taking my Trailhawk and it is upside down by $2000. The paperwork came to me as $50,000 and change, lease option at 48 months, 12k miles yearly, $1500 down and payments option of $869 with Gap and some type of dealer program with free maintenance type services. Credit score is high 700. I have zero clue, but this seems very high. Any help or guidance is greatly appreciated.

 

[Mllcb42]

That's an incredibly expensive lease. Out of curiosity, why are you trading in the cherokee?

The 4xe is one of the best lease options in the industry right now, but to get the numbers where they should be, you really need to order a vehicle rather than buy an inventory unit.

Assuming they're offering is through chrysler and not a 3rd party bank (US Bank and Ally are common 3rd party lessors for Jeeps), the 48 month term is significantly worse than the 36 month term programs and the lease already includes gap coverage. A dealer trying to push gap coverage on a lease (with a few bank exceptions that don't automatically include it) is trying to take advantage of you.

If you don't need out of the cherokee right now, here's my suggestion: order a 4xe from one of the many brokers/dealer that will give significant discounts. On a lower spec Sahara, which is what I assume you're talking about, the lease cost should be thousands of dollars less than what you're being quoted based on current programs. Then, get as many purchase quotes on your cherokee as you can to maximize your value there.

In the meantime, if you want to learn more about leasing, leasehackr.com is the place to go.

What state are you in?

 

[Rivas]

That's an incredibly expensive lease. Out of curiosity, why are you trading in the cherokee?

The 4xe is one of the best lease options in the industry right now, but to get the numbers where they should be, you really need to order a vehicle rather than buy an inventory unit.

Assuming they're offering is through chrysler and not a 3rd party bank (US Bank and Ally are common 3rd party lessors for Jeeps), the 48 month term is significantly worse than the 36 month term programs and the lease already includes gap coverage. A dealer trying to push gap coverage on a lease (with a few bank exceptions that don't automatically include it) is trying to take advantage of you.

If you don't need out of the cherokee right now, here's my suggestion: order a 4xe from one of the many brokers/dealer that will give significant discounts. On a lower spec Sahara, which is what I assume you're talking about, the lease cost should be thousands of dollars less than what you're being quoted based on current programs. Then, get as many purchase quotes on your cherokee as you can to maximize your value there.

In the meantime, if you want to learn more about leasing, leasehackr.com is the place to go.

What state are you in?

Thank you. I will do more research on leases. The Cherokee Trailhawk I bought with fantastic incentives and 0% financing. Our family dynamics have changed a little and the Trailhawk makes it a struggle daily. The second part is it has a 9 speed automatic we have experienced some issues with, no real resolve. Just better to be out of it although payment and financing is amazing. A lease was presented as an option and they seem to really push it. I see all these threads raving about the deal and payment. I am 99% sure my lease option financing is through Chrysler Capital again. I feel the dealer is just trying to make extra money. It was said Gap was added, implying it cost more and was a reason for price increase.its frustrating to just not know.

 

[Mllcb42]

Getting out of the cherokee and into a 4xe lease is by no means a bad idea, assuming the math works out.

I would, however, recommend you lose that dealer's phone number. A dealer trying to push you into that high of a lease payment, on a 48 month term for a ccap lease, and tack on gap is demonstrating a complete disregard for the value of your dollar.

You can get into a great lease on one of these... this just isn't it.

If you find yourself with more lease questions, feel free to ask. I'm happy to help here or on leasehackr (same username).

 

[Huntid]

Wow. You’re upside down on todays resale market? I would just keep what you have and pay it off.

 

[Mllcb42]

You’re upside down on todays resale market?

I would take the dealer saying he's upside down with a grain of salt.

 

[WannFly]

sell your Cherokee on vroom or similar online folks, get a diff dealer and a better lease on 4XE

 

[Rivas]

Wow. You’re upside down on todays resale market? I would just keep what you have and pay it off.

After taking some advice from this forum and a few things I read. I called around, a few lots have offered to buy my car without even trading. So I would say I am in the clear as far as being upside down. I am reading more on specific details on the lease option.

 

[Mllcb42]

I called around, a few lots have offered to buy my car without even trading.

You may find that there's money to be had there too. A few minutes online should get a good answer there.

 

[Naylia]

After taking some advice from this forum and a few things I read. I called around, a few lots have offered to buy my car without even trading. So I would say I am in the clear as far as being upside down. I am reading more on specific details on the lease option.

You can enter your VIN into Carvana too for a quick buy without purchase offer. Always a good sanity check.

 

[ridejeep]

I’m going to lease a 4xe Sahara at 58k msrp with 1k due at signing for 405 month. 10k/36 if you’re in the northeast shoot me a pm and I’ll get you dealers info

 

[Huntid]

After taking some advice from this forum and a few things I read. I called around, a few lots have offered to buy my car without even trading. So I would say I am in the clear as far as being upside down. I am reading more on specific details on the lease option.

Caravana and Vroom pay good and super easy to sell

 

[FL4xe]

Caravana and Vroom pay good and super easy to sell

After taking some advice from this forum and a few things I read. I called around, a few lots have offered to buy my car without even trading. So I would say I am in the clear as far as being upside down. I am reading more on specific details on the lease option.

It never hurts to check them all...

My daughter got the best deal from Carvana on her Renegade, I got the best online deal for my GC Trailhawk from Vroom, ended up selling to dealer (after my new lease was completed) for the Vroom $$ (much easier process as I was leasing the GC), I got the best offer on my truck from CarMax.

Point is try them all, and if you deal directly with a dealership you will have a number to work with.

 

[SayWatt]

Checkout the Leasehackr forum. Clutch or LeaseCompanion should be able to help you get an awesome deal on the 4xe. I used Clutch and he saved me 10% off of MSRP, that with a great money factor, residual and like $1k down, got me to $400 a month for a $64500 Rubicon - I did pay taxes and fees up front too. Deals have changed a little since I ordered mine, but still check him out. Super easy to deal with and the whole process went smooth. Got my delivery Monday night and loving it so far.

 

[Mllcb42]

Clutch or LeaseCompanion

Both great guys

 

[Jbud]

Edmunds has a really good forum for lease pricing. Here is the 2021 wrangler forum. A new thread gets created for each model year. Most of the info is about the current month’s Chrysler capital lease programs and standard factors used to calculate your lease payment.

2021 Jeep Wrangler Lease Deals and Prices

Ask your 2021 Wrangler lease questions here! Get information on money factors, residuals, incentives, deals and payments.

forums.edmunds.com

 

[Mllcb42]

Edmunds has a really good forum for lease pricing.

They're definitely a fantastic source for residual value, money factor, and incentive information. I've found that their pricing data tends to skew higher than what is usually doable though.

 

[rumnkoke]

I’m going to lease a 4xe Sahara at 58k msrp with 1k due at signing for 405 month. 10k/36 if you’re in the northeast shoot me a pm and I’ll get you dealers info

Wow that is a great deal congrats!

 

[ridejeep]

Wow that is a great deal congrats!

It really is. Best deal I’ve seen in the northeast. No broker fee either. Can’t beat it

 

[CNYJason]

Thank you. I will do more research on leases. The Cherokee Trailhawk I bought with fantastic incentives and 0% financing. Our family dynamics have changed a little and the Trailhawk makes it a struggle daily. The second part is it has a 9 speed automatic we have experienced some issues with, no real resolve. Just better to be out of it although payment and financing is amazing. A lease was presented as an option and they seem to really push it. I see all these threads raving about the deal and payment. I am 99% sure my lease option financing is through Chrysler Capital again. I feel the dealer is just trying to make extra money. It was said Gap was added, implying it cost more and was a reason for price increase.its frustrating to just not know.

Leasing is the best way for an unscrupulous dealer to use smoke and mirrors to make a ton of money. There are so many variables that can be “adjusted” within an allowable range where they could pretty much make $10,000 plus off you. How are they applying the $7500 tax credit? What is the money factor? What is your trade-in allowance? How much do you owe on the Cherokee and how many miles are on it? What is the total capitalized cost? I got my 21 Cherokee in Feb 2021 with a $4250 rebate, big trade for a car with 110,000 miles then the inventory vanished and prices when way up. Do your research. While the 9 speed has some hiccups it pales in comparison to what some members are experiencing with 4XE. If your current dealer can’t fix a simple 9 speed they will be clueless with the 4XE.