Early lease turn-in?

Ask the Hackrs
1

Hi all, currently in a Grand Cherokee 4xe that I’m more than ready to be done with… Lease isn’t up until April but I only have 3 payments left.

Gave Stellantis Financial a call to see what my options were & they referred me back to the “Early Termination” section in my contract:

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According to this, I’ll also have to pay the difference between the residual value and its current realized market value (which is at least $10k lol)

Shouldn’t I be able to just pay the remaining 3 payments + disposition fee, and return the car a few months early?

Wondering if I should try talking with someone else at SFS (or my dealer)

Any insight is appreciated!

2

Last I checked it’s just the remaining payments plus a $495 early return fee (and of course any additional mileage, wear and tear etc)

3

You should check out that picture that Beep posted. The other “plus” provisions are pretty one-sided in favor of the lessor.

I think the best bet with CDJR is to never lease a CDJR.

Taking the lease to maturity for 3 extra months (just park the thing for 90 days) seems the best bet.

The worst is buying out the lease to own the CDJR. Because then you’d own a CDJR.

4

Ah yeah - that’s a SFS lease, my experience is with CCAP

5

what are you trying to accomplish by returning early? Just park it if you dont have miles left.

6

Yeah I guess I just assumed those “early termination” provisions were for like, a whole year early, not a few months. My last two leases were with CCAP and I sold both to Carmax early with no issues, clearly SFS plays a very different game.

7

That’s what i’ll do if I can’t turn it in. But it was just recalled for battery fire risk so I don’t love the idea of it just sitting in my driveway. And would be nice not to have to keep it insured if I’m not driving it.

8

So with CCAP, it wouldn’t be a problem? You could just pay the remaining balance and then schedule a turn-in?

I guess I’m just trying to determine if maybe that one SFS rep gave me bad info & I need to go about this some other way.

9

Safest way to park your Jeep.

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Although, when Fisker went bankrupt the first time, they accidentally parked a bunch of their inventory and it got flooded and caught fire. Insurance fraud knows no bounds. They used to call these “superstorms”. I wonder what happened to those.

10

that’s what I was told by CCAP and a couple dealers. I haven’t actually done it so can’t confirm in practice.

11

Wait until you go to return it with an open recall because Jeep won’t be able to repair all the vehicles for a long time if they have to replace a bunch of batteries. I am in a similar position, except lease ends in March.

12

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