Hey guys! Got a 2022 Rubicon 4xe Lease through Clutch on July 2022. Got 10,000 miles per year, and then switched jobs to work remotely. Now, 6 weeks out from lease end, I have a total of 12,000 miles on the car… Wondering if there’s any course of action you experts would recommend… I called Jeep and they said they can extend but only if I add miles - which defeats the purpose… Thoughts? Thanks in advance!
If your lease is cheap, you can do a month to month extension for a few months. Otherwise turn it in. There arent any other good options.
Why not try to sell it to like a carvana or CarMax? With that low mileage you must have equity?
More like $10k negative.
Haven’t had to turn in a lease yet, so I’m curious as to why there aren’t any other good options? And if you have equity it in the low mileage, and someone offers you more than your residual isn’t that a good option?
Aren’t the only options to:
- purchase the vehicle for the contractually residual price
- turn the vehicle in and pay disp fee
The purpose isn’t defeated b/c they can’t extend the lease without adding another 833 miles per month to a lease extension. It’s more a function of the accounting system and regulations around lease accounting. They don’t have a button that says extend with no additional mileage at $350 per month and another button that says extend with 833 miles added per month at $380 if that’s what you’re thinking. It’s all the same price whatever that may be.
If you’re happy with the vehicle and the payment then extend for a few months and see what else pops up that interests you!
The issue is that on a 3 year old 4XE Wrangler there isn’t going to be any equity. The value has tanked on these things, relatively speaking, and low miles doesn’t matter. It makes no difference whether the OP’s truck has 5k or 50k on the odometer, selling/trading to capture any equity is not an option.
So as noted the options are either 1) just turn it in and walk away, or 2) extend the lease by a few months.
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Thanks for the reply. Is that true on just these wranglers? Or does that apply to most vehicles?
It certainly applies to nearly everything that gets a big tax credit upfront
The problem with this and the 4xe is alot of people have had issues/electrical problems with their 4xes. The minute you extend it you lose the bumper to bumper warranty and may have to pay for any issues that were previously covered for free by the jeep wave program.
Jeep wave only provides oil changes and most all of the hybrid/electrical issues are covered by the significantly longer hybrid warranty anyway