That’s my understanding for branded Jeep dealers, so I was going to use a local used car lot. I knew the owner who had access to Manheim Nashville where it went. Assume it’s only Jeep dealers that can’t?
Ah yea that works
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following up regarding my earlier post concerning being able to lease return my mark dodge wrangler.
I returned it today with 0 issue! No questions asked or any push back. Returned it to Rydell CDJR in San Fernando, was super easy to return.
Overall was fun to own, wholly unreliable and endless issues but the beauty of the lease was dropping it off and saying goodbye.
Now to find something else!
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Where is the best lease deal on a 4xe with leather and sky one-touch power top? I would prefer a Rubicon, but will consider a Sahara.
I recently grounded my 2022 Sahara 4XE and just got this email from the FCA Recall Team. Anyone else get one of these?
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Found my returned GC 4xe.
They sell for $10k less than the residual at the end of the lease.
Who ate the $10k?
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C is for CCAP, it’s bad enough for them. Nomnomnomnomnom.
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Same here for a 2022 4xe Rubicon.
I wonder why they don’t just offer the lessor to purchase it for the going rate instead of shipping the vehicle around the country. I’d buy my lease if they offer to drop the residual by $10k.
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From my understanding it has to do with how leases are presented within the balance sheet and the corresponding income or loss on the income statement. A deep dive would be looking into ASC 842 on this subject.
We once saw BMW once offer a lower buyout on one or two models around the beginning of Covid I believe. A company can change their accounting treatment but it’s requires jumping through some hoops to do based on my understanding of it.
My 22 4xe lease us up in early August and just spoke with my local dealership and they stated that they do not do leases and do not take lease returns. Jeep says to return it to any Jeep dealership, does not matter where you leased it from. Now I have to find another dealer to take it. This thing has been nothing but problems, never again Jeep. Good Riddance.
Hopefully there is another Jeep dealer near you, or else time to get corporate involved. Not sure how much of a help they will be though.
And if it’s the dealership where you had your service done I’d take it up the flag pole there I’d expect they would take it considering how much time it spent there.
If not calling around should work. Especially if they think they might sell you a new one.
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It was the dealership I have been using since we moved here a year ago, the jeep spent weeks there being repaired and recalls fixed, but no go. I found another dealership about 30 miles away across the boarder in Florida that will ground it and have an appointment set for Friday.
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I believe they buy insurance on the projected residuals. The shortfall is eaten by insurance and must go through an independent process(auction) for TMV determination.
Anybody getting deals on these? My friend’s lease is up and wants another one. I’ve sent out a few emails but I’m getting ghosted left and right lol. I referred her to a couple brokers bc I’m not sure I can find her one.
I used to work for one of the captive finance companies and developed lease programs for them. The way it worked, the manufacturer would allocate incentive dollars to the finance arm, and instead of a rebate or dealer cash, they would have us inflate the residual. The cost is assumed up front, and the incentive held in an account (gaining interest) to cover the eventual auction loss.
There was no insurance involved as no insurance company would be crazy enough to underwrite something like this, unless the premiums were astronomical.
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I understand your POV but you may not have seen what was done by another part of the org. Further, the hedge ( insurance) doesn’t have to be structured to be the actual residual, it could be below that; effectively a floor or put option. Every captive plays different games but all financial companies have extensive risk management to limit downside and lock in p/l at the time of the transaction.
