What markup? Your contract shows an agreed on price almost equal to msrp. ($62820 msrp vs $62982 agreed on price)
We got the vehicle in mid-Covid times when prices were abusively inflated. Now that the values are falling those vehicles will never be worth the amount that is owed in the beginning. The car is worth $12,000 less than we owe. People were “forced” to deal with that nonsense.
Honestly you got a pretty good deal during Covid. MSRP. Now the 50% RV is pretty crappy.
but there is no 10k mark up you allege.
This 12k Less is normal for all cars leased EXCEPT during 2017-2020. That’s how leasing worked before the pandemic
But as it’s US bank, you can’t sell to a Dealer because they will charge a $$$ Payoff Fee.
You can only buy it and then resell to Carvana BUT looking at Carvana for a 2021 GC, it’s 31k which means you are underwater on this car.
I believe he’s saying ‘markup’ instead of ‘depreciation’.
He paid MSRP but the depreciation was incredibly steep and his car is worth less than RV after only 11 months.
Are you looking at GC prices or GC-L prices. 21 GC was the old generation is worth way less.
Ahh silly me…I meant depreciation not markup. Those separate window stickers totally messed me up.
Ah the GCL, I missed that.
46k for a GCL ,
For him, his 11 payments put’s payoff around 55+k, and could see the 10k ‘depreciation’
It’s really not shocking that a chrysler product would depreciate that much in the first year. We have all got been spoiled with the weirdness over the past year or two, but used values are starting to normalize a bit and the commodity products with good new supply are going to lead the way.
I guess I have no other choice but what Forbs’s suggesting only…or?
It’s a US Bank lease, so you have the option of lease transferring if you can find someone interested in it. It’ll probably be a hard sell at $816 per month, but you may be able to toss an incentive at it that would be a whole lot cheaper than the amount you’d lose by buying it and reselling for a big loss.
That happens all the time. The beauty of a lease is that you get to throw them the keys and walk away at the end: The bank has to eat the negative equity.
Spend $150 on putting it on Swapalease. You might get lucky and have some dumb **** take it off your hands without an incentive.
The quicker you need to offload it, though, the more incentive you’ll need.
Mind to specify the incentive part, please?
You provide an incentive (money from your pocket)
For someone to take over your lease