I’m looking to ground my lease today. It is a 2023 Wrangler Rubicon 4xe leased with Chrysler capital. The term of the lease is on Oct 25, 2025, so I am a little under 60 days out. I reviewed my lease terms and it says that in addition to the unpaid monthly payments and $495 turn in fee I will also incur an early termination charge equal to the amount by which the adjusted lease balance exceeds the vehicles realized value at termination.
The dealership is swearing I just have to pay the remaining payment plus a $395 disposition fee, but my contract seems clear as day about this. I’m terrified of getting hit with several thousands of dollars. Am I rightfully worried? (Edit: Chrysler Capital is closed today, so can’t call them to ask)
If you have positive equity, I would trade it and have the dealer cut you a check for the trade equity. Or use it as a cap reduction (down payment) on your next car.
I don’t have positive equity. Likely the car is worth about $8k less than the RV. So I’m worried I’m going to owe that. The dealership is saying I’m within maturity so I just pay the remaining payment plus the disposition fee.
The dealer is correct. You could pay the remaining payment and then, keep the car until Oct 25 if you’re really that concerned. Just pay the disposal fee and be done with it. This will negate any possibility of Chrysler requiring an early term fee.
This is helpful, but nothing in my lease paperwork says I can payoff the lease early. Certainly the words 90 days don’t appear anywhere. I guess that’s what I’m worried about.
Paying off the lease is synonymous with purchasing the car. See Section 22(B) of your CCAP agreement. Because you have negative equity, I don’t advise that you terminate early whether you turn it in early or purchase it. Your best off by sucking it up and paying the remaining payments and disposition fee.
Sorry I think we are talking past each other. I 100% agree with you and I am resigned to the idea that I would have to pay the one remaining payment and the $395 disposition fee. What I don’t understand is if I have to keep custody of the car until the end of the lease (in just under 60 days) or if I can give it to the dealer today. the reason I don’t want to keep it is mainly that the dealer is 2 hours away and I don’t have a way to get here and back other than the car.
You can give it to the dealer today. You are within 90 days of maturity and so, you’re good to go. Early term does not apply. You may want to call CCAP to confirm.
Ccap has different contract terms depending on where the lease was initiated.
Some make you liable for the difference between the market value and the residual (well, adjusted lease balance, but residual if fully paid off) on an early termination if turned in outside of the last 30 days.
Yikes! Glad I asked the question. Dealer is just putting pressure saying this is the last day before incentives reset and CCAP is closed. Oh well… no remedy except to just wait until tomorrow.
Oof this is turning into such a hassle. It’s such a stupidly large amount of money to not know with 100% certainty what is going on… and you’re right, can’t really trust the word of a phone rep. And even documentation doesn’t really eliminate the risk if they do charge the early termination I still have the hassle of having to fight them, potentially paying for a lawyer, etc.
I see you tagged California. Did you lease out of state? I did and had the differential language in my contract and it turned out I had gotten a letter from CCAP a year after I leased stating that they wouldn’t collect anything in excess of the remaining payments + excess wear/mileage.
I did get the lease from out of state. A FL dealership using the ninja brokers. another reason I want to ground it with these guys. Not looking forward to trying to find a dealership to ground it for me.
Do not get me wrong, but if i understand this correctly this whole discussion here is about saving let say $100 on a one month of car insurance and return the car with no risk in less than 30 days from the maturity date.
OP should get another “$100” discount from the dealer to make this work.
