I am actually heading to a dealer in NJ to sign the lease on a Grand Cherokee High Altitude.
Negative Equity: 6,006.38
Monthly Payment $579.00
I don’t have all of the numbers yet, but let me know if this is a good deal so far. I plan on having all of the numbers later on today. The dealer wants me to come in today to sign and take delivery.
You’re already signing so…enjoy the car!
Why do you have $5000 in negative equity? You’re basically paying it all off at signing and still not getting a good deal
Do you have any more details? What’s the RV and MF used for the car? What kind of discount are you getting? What incentives do you qualify for? Are you getting an F&I products?
Advise not to go to the dealer until you figure all that information out. There may be meat on this bone, but we don’t know and can’t be sure. The 6k in negative equity is really hurting this deal. If you have 5k in cash, why not just sell your car privately and pay off the difference?
The negative equity comes from a lease I currently have, which has 11 months remaining that = $6006.38. The dealer won’t buy the car because the payoff is very high, so they’ll write me a check for that amount. I’ll put the $5k to cover some of the negative equity and still be left with -$1006.38.
I will try to get the incentives and rebates later on today and let you guys know. Thanks for the help.
Any reason why you’re trying to get out of your existing lease 11 months early?
Have you considered riding out your current lease a little longer and then trying for a Grand Cherokee HA later on? Probably save some money in the meant time.
Or; the wiggly inflatable man made me do it!
Unless there’s a compelling reason, I’d try to wait until you’re closer to the end of your lease. If you’re 1-3 months away, there’s a better chance a dealer will adjust their dealer discount as opposed to rolling them into a new lease. Thank you StingerTT for pointing this out to me.
Dealers don’t actually “eat” any payments. It comes out of the dealer discount.
Oh man this guy is gonna get hosed this morning …
“Oh good morning, glad you can make it in this early. You’re car is out back getting washed and hand waxed…(paperwork is all ready ) …would you like some of our shitty coffee before we phack you up the Kiester really nice?”
“Hey Jimmy, bring Mr bdmc2001 a cup of coffee while we’re waiting”…
Bruh, don’t say we didn’t warn you …
Why would you pay for your 11 months lease to just get rid of the car? Why not keep the car for 11 more months since you already paid for it.
I can’t keep my lease because it’s a sedan and I need an SUV. That’s why I need to get rid of the car.
I spoke with the dealership and they’ll email me the info. Hopefully I can have that ready for you guys.
Don’t Limited’s lease better? That’s allot of money to flush down the toilet.
What does an expensive luxury SUV do that your current sedan does not?
Do you have a medical issue that prevents you from bending downwards to ingress/egress from the driving position?
I’d assume a baby, because when you have a kid it’s mandatory to get an SUV
I heard Congress was going to pass a law requiring SUVs be purchased per every 2 children that are born into a family. The law is lobbied by the American Dealer Associations.