Hi All, looking to transfer my 2016 Jeep Wrangler Unlimited Sport S. I know it’s a niche vehicle that doesn’t lease well so I’m providing some incentive to make the monthly better. The vehicle is in excellent condition with low miles and the only off-roading done has been on the beach a handful of times.
MSRP: $37,400
Months: 39
Months Left: 17 (Contract end date 8/2019)
Mileage: 10,000 per year
Current Miles: 8000 so plenty left.
Monthly Payment (w/o incentive): $394
Incentive: 3 payments ($1,182) Monthly Payment (with incentive): ~$325
Residual: $25,920
Bank: US Bank
Lease Transfer Fee: $500
Came with Jeep wave program that is transferrable but it expires after two years (May 2018.). There’s 2 oil changes and tire rotations left.
Ha, I know, please don’t tell me how much per mile that is. Part of the reason I’m looking to get out of it as I don’t drive it a lot, mostly for commuting that’s only 10 miles a day.
Yeah really, the only two exact matches for year, model and trim within 500 miles of NJ on autotrader are listed by private sellers for 30k and 34.5k right now, with way more mileage than yours.
I’d like to clarify the fees associated with the lease assumption as I received a few DMs asking. I am providing an incentive equally 3 of my current payments which equals $1,1182 and I positioned that in my post as a way to reduce the payment from $394 to $325 which includes NJ tax. This incentive could be used instead to covering the following fees:
Credit/app fee which is not refundable: $150
Assumption Fee: $500
Lease disposition when returned at end of lease: $395
Also, the Jeep has only 8000 miles so there is basically no wear in tear so things like tires have plenty of tread to last through the remainder of lease. It also comes with Jeep Wave that will give you another oil change and tire rotation for free as long as you do that before it expires in May. Jeep comes with dual tops as well so if transferred it will have the hardtop on and soft top inside. The only things I’ve added to the Jeep were a dead pedal, protective film on door sills to prevent scuffs as it’s on paint and the rear seat has the adjustment to provide a better angle for seating. All of this can be removed without issue if desired.
Thanks for your interest and the Jeep is still available so drop me a DM if interested.
INteresting to know what the current payoff is. IF carmax value > payoff value, better just sell it. Why are you giving incentive, it seems people would take this lease anyway …
Thanks to those who suggested Carmax. While I have not gotten a quote from them, my payoff is close to the asking price on similar Jeeps they have in stock. Also, I tried to trade at several dealers, including one I done lots of business with in the past and they couldn’t come close to the payoff. My payoff amount is about the residual plus remaining payments.
As far as the incentive, I was offering that to make the price more attractive, and while not a new lease, try and get it close to the 1% rule with nothing out of pocket.
Even with the incentive, the DMs I received expressing interest are saying it’s not enough.
Based on my research and education here, I feel what I’m offering is a good priced lease price.
Revisiting this as I’ve had interest but folks have either dropped out or are looking for more incentive. I’m really looking to get out of this lease.
New Incentive: $2,250
There are only 16 payments left now so that drops the effective payment from $394 to $254 NJ tax included.
or
If you were to use the 2k towards the upfront fees ($150 credit and $500 lease assumptions) you would have zero out of pocket and an effective payment of $294, NJ tax included.
If anyone is interested, I already have the documentation needed to start the process.
