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Well, I just did the unthinkable...

2626 Views 69 Replies 8 Participants Last post by 4xeFanFL, 1 d ago

4xeFanFL

Discussion Starter · 1 mo ago

I just returned from my dealership and ordered a MY23 Summit Reserve and MY23 Trailhawk (both 4xe, of course).

The Summit Reserve will be identical to my current one plus the High Altitude Package and Rear Entertainment system.
The Trailhawk will also be the same but will have currently missing Luxury Tech Group III and Rear Entertainment.

I was planning on ordering the Trailhawk in Midnight Sky with the black wheels and Pano-Roof as well but neither the black wheels nor the Pano-Roof are currently available to order (checked with two dealers). I did not want to mix the grey painted wheels with the Midnight Sky so I went with the matching Baltic Gray again.

Dealer agreed on kbb trade-in value for good condition +$1,000 for each trade-in at time of delivery and the agreed upon price for the new ones will be 5% below invoice.

Based on the current lease offer, my monthly lease-payment will actually go down (Summit Reserve will be $100/month less while the Trailhawk will be $50/month more).
Not bad considering the upgrades.

In addition, it appears that there will be some nice equity to pocket in those two vehicles. How much exactly is difficult to tell because the trade-in value is likely to go down 'til the day of delivery. However, so will be the pay-off of my current rides.

Let's see how this is going to turn out...

Reactions: 3

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Mllcb42

· #2 · 1 mo ago

Don't forget to get the jeep.com $1000 off private offer to sweeten the deal a bit more. You can probably get 2 so you can do one for each

4xeFanFL

Discussion Starter · #3 · 1 mo ago

Mllcb42 said:
Don't forget to get the jeep.com $1000 off private offer to sweeten the deal a bit more. You can probably get 2 so you can do one for each

Oh, thanks! Yes, let me see if I can sign up for that, too.

I'm not 100% sure if they are transferrable between household members. If they are, I can probably get a second one.

C.sco

· #4 · 1 mo ago

Wait, you traded in a '22 Summit Reserve and '22 Trailhawk, for a '23 Summit Reserve and '23 Trailhawk??

Your username ain't kidding! You're putting someone's kids through college at that Jeep dealership

Reactions: 1

Mllcb42

· #5 · 1 mo ago

C.sco said:
You're putting someone's kids through college at that Jeep dealership

Or saving a bunch of money, depending on the purchase value on the trade, the new sales price, and the extra stacks of incentives now available.

Reactions: 1

4xeFanFL

Discussion Starter · #6 · 1 mo ago

Mllcb42 said:
Or saving a bunch of money, depending on the purchase value on the trade, the new sales price, and the extra stacks of incentives now available.

Exactly! I wouldn't go through all the hassle if it wouldn't make sense (financially). A lower payment for better equipped vehicles would already be worth it for me as an enthusiast but the fact that there's equity in the trades is the icing on the cake.

All this is possible due to the tax incentives. The gift that keeps on giving.

And if I can make the guy at the dealership happy, too, I'm in.

Reactions: 1

f1anatic

· #7 · 1 mo ago

4xeFanFL said:
I just returned from my dealership and ordered a MY23 Summit Reserve and MY23 Trailhawk (both 4xe, of course).

Let's see how this is going to turn out...

I actually see the 2024 Wrangler 4xe a valid competitor to the Grand Cherokee from the perspective of someone who looks for transportation primarily (i.e., not off-roading, overlanding etc.). It now has powered seats, more airbags, and other safety and comfort accoutrements, bigger screen. Good luck.

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Reactions: 1

Joemama

· #8 · 1 mo ago

Lol how do I do this 🤣

4xeFanFL

Discussion Starter · #9 · 1 mo ago

Joemama said:
Lol how do I do this 🤣

I was shocked about the trade-in values of my vehicles. I have about 4,500 miles on the Trailhawk and kbb lists it @$65k. That's insane for a vehicle with an MSRP of $70k.

On the Summit Reserve with 1,800 miles, it's @$73k.

Dealer pay-off on the Summit is currently $70k and on the Trailhawk, it's $55k.

So right now, I'm looking at a total of $13k in equity and a check from the dealer in the amount of $15k since he agreed to pay $1k above kbb for each. Next, I would be able to cancel my wheel & tire and a service contract after the switch and collect another $2k, pushing me up to $17k. The lower monthly payment on the new rides includes the cost for the same contracts again.😄

Reactions: 1

4xeFanFL

Discussion Starter · #10 · 1 mo ago

Of course, those are just the theoretical numbers as of today. I have no idea how this will actually turn out but I can't see myself NOT being in a better position afterwards.

Mllcb42

· #11 · 1 mo ago

Ccap and stellantis financial just cut the ev credit on leases to $3750 about an hour ago. TBD if they augment it with better lease programs or other incentives.

Joemama

· #12 · 1 mo ago

Mllcb42 said:
Ccap and stellantis financial just cut the ev credit on leases to $3750 about an hour ago. TBD if they augment it with better lease programs or other incentives.

What? I thought leases were safe. Smh

Mllcb42

· #13 · 1 mo ago

Joemama said:
What? I thought leases were safe. Smh

There was no change to the tax code that required them to change it, but they have no obligation to pass any on, so they can drop it if they want. Will be interesting to see what they do with the lease programs on the 1st. They may offset it with a mf reduction or other incentives... or not.

Reactions: 1

4xeFanFL

Discussion Starter · #14 · 1 mo ago

Mllcb42 said:
There was no change to the tax code that required them to change it, but they have no obligation to pass any on, so they can drop it if they want. Will be interesting to see what they do with the lease programs on the 1st. They may offset it with a mf reduction or other incentives... or not.

This will be interesting for sure. When I placed my order yesterday I was banking on the full amount.

Didn't you mention that upon ordering the incentives would be locked in?

Mllcb42

· #15 · 1 mo ago

4xeFanFL said:
Didn't you mention that upon ordering the incentives would be locked in?

The extra ones are eligible for sold order protection. The tax credit, unfortunately, isnt.

Mllcb42

· #16 · 1 mo ago

4xeFanFL said:
Didn't you mention that upon ordering the incentives would be locked in?

The extra ones are eligible for sold order protection. The tax credit, unfortunately, isnt.

4xeFanFL

Discussion Starter · #17 · 1 mo ago

That's what I thought.

I guess I will have to squeeze a little more out of the dealer now. Maybe we can split the loss - LOL!

Honestly, though, I don't know what CCAP is doing. They are still advertising the $7,500 on their website as we speak...

4xeFanFL

Discussion Starter · #18 · 1 mo ago

The new lease-numbers for May will be interesting.

It could very well be that they will somehow compensate this move by playing with the residual value and/or MF.

If everything else remains unchanged, we will be looking at a higher monthly rate of +$100. I don't know if these vehicles sell that well that this wouldn't have an impact.

Adjusting the residual and/or MF with a lower tax incentive would allow CCAP to offer a comparable monthly payment and assuring that lessees stay with them longer because it takes more time to break even and be tempted to obtain a different vehicle. In addition to that, they bank 50% of the tax incentive on top of that. If that's in the dealer's/manufacturer's best interest, however, is a different story.

Mllcb42

· #19 · 1 mo ago

4xeFanFL said:
Adjusting the residual and/or MF

Currently, the 23s have a MF that's about twice that of the 22s, so it's certainly possible that when lease support falls off on the 22s, we'll see the 23s get more MF relief.

4xeFanFL

Discussion Starter · #20 · 1 mo ago

Mllcb42 said:
Currently, the 23s have a MF that's about twice that of the 22s, so it's certainly possible that when lease support falls off on the 22s, we'll see the 23s get more MF relief.

That's interesting.

Since you mentioned the 22s, I was surprised to see on jeep.com that the advertised lease offer on those is actually through Ally.

Depending on the timing of my builds, it's quite possible that my delivery window will be June. Could be that by then, not many 22s will be left on the lots.

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