hold my coffee
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202020202
chose the base cherokee altitude ( about a $30k jeep)
18,000 miles per year with lower residual ( and lower amount to charge rate on )
Tier 4 , with $10k total down including my fee.
Total spend if buyer were to buy at the end of the lease is $30900 on this scenario =.
thats total payments, plus down plus residual at end. obviously depending on tax rate charged on the residual at end.
and someone can feel good about driving a brand new car thats under warranty etc etc . problem free !
sorta problem free, it is still a Jeep afterall lol
I think we’ve given OP enough to go on here. But I’ll summarize again before closing the thread.
- It isn’t in your best interest to lease a vehicle right now with your credit. You will get hosed in interest and take on a ton of unnecessary risk in the event the vehicle is totaled or stolen. GAP insurance won’t save you since it only covers the difference between the vehicle’s value and the payoff amount.
- If you need a car, buy a cheap one in cash, and work on improving your credit score so you can revisit the option of leasing again in 6-12 months. Otherwise use any liquid cash to improve your credit
- If you want good advice on your credit score, post to the offramp section of the forum, check out other forums dedicated to that sort of thing, or you can PM me and I’m happy to advise
Whether or not @Anthony_Lopez had malicious intent or not isn’t for me to judge, but regardless, picking up a bottom tier FCA (or any other vehicle) lease is not sound advice by any stretch of the imagination. As he stated and laid out in the example above, leasing is certainly an option if you’re willing to pay your savings away. In my opinion, it’s the worst option (I literally can’t see a single financial upside to doing it), but it’s there if you want it. There are plenty of dealerships out there who I’m sure would be willing to take your money and interest.
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