Jeep Gladiator Mojave

Signed Deals & Tips
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1

Not exactly a lease, but close to it.

Several credit unions offer a “lease” program. Basically, they are loans with a balloon payoff. Some of those programs allow you to satisfy the ballon by turning in the vehicle at the end of the turn. If the value is lower than the balloon, the program takes the hit. This is that.

2021 Jeep Gladiator Mojave
$49,380 MSRP
$43,800 Sales Price (OTD – except sales tax in home state)
$3k Down
$230/Month. 36 Month
$268/Month. 48 Month
$284/Month. 60 Month

Sales taxes are not included.

2

Is this a signed deal? If not, please change your sub to “Ask the hackrs”.

3

What credit union is this? I’ve never heard of one that offers a “walk-away” price. Most only would provide a “prediction” based off of depreciation values.

4

Everything agreed. Signing tomorrow.

5

https://www.hfcu.org/loans-and-credit-cards/better-than-a-lease.html

6

Then which term are you going with? The rest is confusing

7

I can see the confusion. I actually went with 54 months at $270.86/month. I posted the other terms because they are more typical durations, and I thought they would be more useful to the forum.

The deal easily could be replicated (probably beaten). Find a good price on the vehicle, and the financing is easy. If you got to the website and click “Calculate Payment” you can run the numbers.

8

OK, that makes sense. Thanks for sharing. Not many balloon deals shared here.

9

What is the balloon value? What state are you in?

10

Ballon value is $32,487. Again, the loan can be paid or the vehicle returned at that point. I’m in UT. Dealer is in NV. Credit union is in MA.

11

I know, I’m just curious to see how they put this together. I don’t understand how they could assign a 65% rv on a 54 month period. The bank is going to get stuck holding one hell of a bag here.

12

Pretty interesting. One question, why does the payment increase the longer the term? I think I would go the shorter term with the lesser payment. I’m sure it’s the residual affect, but just seems a bit off.

13

I think there are a few factors at play. If you look at the calculator it assumes the initial purchase price is significantly higher. When you use $44k as the purchase price, it creates a big difference between the calculator’s expected price and the actual price. Over time that difference lessens. Also, rates go up for longer periods.

14

Why would you pay more to keep it longer, especially when it’s out of warranty?

15

Have you talked to the credit union to see exactly what is involved with the “turn it in” option at the end of the term? If the title is in your name then it’s got to be more complex than driving down to the CU and handing them the keys (not to mention if you’re in UT but the nearest branch is in MA). I would just make sure you cover your bases, the website doesn’t provide much detail. If it sounds too good to be true…

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16

It’s good advice, and I did. There is a disposition fee - $195 I think. This is part of a larger program - see https://www.cula.com/. There are local options for the end.

17

Why would you want to be out of warranty so long on a CJDR product?

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