Hi everyone. I’m in a bit of a situation and could use some guidance. My husband unexpectedly passed away a few months ago, leaving me with his Jeep Wrangler 4xe lease that goes back in a few months. I’ve been continuing to make the payments. I’ve been looking into leasing my own vehicle in preparation to give back his Jeep and was looking at a 2025 Jeep Grand Cherokee. My credit score is over 800 (I also have a leasing history), but because I sold my business last year, and I work part time (and losing my husband’s income) my debt to income ratio is high (I share a mortgage with my son, but he pays the mortgage) so I was denied unless I have a co-signer . My other option was to put down a larger payment on the lease (jeep grand Cherokee) but I’ve always read not to do that on a lease. Then I heard about one pay leases (I know I know). My question is, is there any protection should something happen to my vehicle (stolen, accident) that would reimburse me the unused portion of my prepayment? My last option is a used vehicle. (I can put down $20k or more and finance the rest) but I don’t want to inherit someone else’s headaches (that’s why I always leased). What are your thoughts? Thanks!
The thing is, my credit doesn’t suck. It’s over 800 (closer to 840). If they looked at investment accounts and bank accounts they would see I can more than cover the cost of the vehicle. This is all unfamiliar territory for me
Really study up on how the math on leases work or I can bet you are going to be taken advantage of…or just find a broker here in Marketplace to work with which is probably your best option.
The 4xe has 3 major recalls. You can try to get a buyback for the 4xe from Stellantis. Not sure how this would work if the 4xe is under your husband’s name? In CA, if you pursue lemon lawsuit, manufacturer pays for lawyer fees. Doesn’t hurt to try and if they buyback your 4xe you get money back and surrender the 4xe.
Since you have a 4xe in household, you should qualify for all loyalty rebates this month. 2025 Jeep Grand Cherokees are leasing cheap if you have SFS loyalty. @AutoNinjas has some great deals!
Thank you. I think a buyback would take too long (lease is up the end of September). Stellantis has tried to take the jeep back but because the lease originated in NJ (we used Auto Ninjas to get this lease) in the lease agreement it states that in NJ, a death is not considered a default of the lease as long as the surviving spouse continues to make payments, so I’m guessing that’s why they haven’t pursued it. I wanted to turn it in after his death but was afraid Stellantis would go after his estate for the remainder of payments.
Sorry for your loss and the aggravation. Out of curiosity did you call the lease bank when he passed to ask if they would just take his Jeep back?
I think this is a rare instance where you might be targeting the wrong brand (captive) to lease. I suspect VCFS (BofA), Chase (Subaru or JLR) or maybe Hyundai/Genesis might be a bit more relaxed about the DTI, if your FICO Auto really is 800+
If there are open recalls, I’ve had a good lemon lawyer get an offer in a couple months. I also had one instance where I kept the lease to disposition and got a settlement check after. Free consultation, doesn’t hurt to ask.
I don’t know about NJ or NY buyback or lemon laws but I can give you the email for FCA to consider the buyback. I went through this process in CA and did it myself. I was going to get a lemon lawyer if they didn’t agree. After going back and forth with FCA, they are buying back my 4xe in full, which in your case towards the end of your lease, you can perhaps get thousands! It’s just a waiting game after you submit, but why not it doesn’t hurt to try.
If you lease with SFS or Chrysler Capital, they don’t necessairly verify income if you are over 700 credit score, someone correct me if I’m wrong. I never had to verify income over 700 on my leases the past 10 years.
Note: The 4xe is in junk status. No more future 4xes and 330,000 4xe in recall. There will be multiple class action lawsuits in the future. They didn’t take back the 4xe b/c you never requested a buyback or got a lemon lawyer. They are not going to volunteer to take the car back. You are still making payments so they cannot go after your husband’s estate. If they agree to buy back, they will pay you $$$ for surrendering the car.
Thank you. My son and I called Stellantis and told them of his passing. We thought we were doing the right thing. They told me I can take a loan out for the remainder of the payments and pay it off (I wasn’t planning on keeping it post lease), or turn it in. I was afraid if I turned it in they would go after the estate for the remaining payments. That was when I went to the lease agreement and noticed the clause in it saying I would be able to just keep making the payments as the surviving spouse.
I haven’t had to prove income on an auto finance transaction for as long as I can remember (including SFS on the Jeep I did last year) due to strong credit history. I always understate income significantly.
Side note, it’s also a best practice on mortgage applications to only claim the income and assets necessary to qualify for the best terms, because you only have to document what you claim, and you only need to claim a certain amount.
Hi! They wanted me to put down $4k ($2k additional) to bring down my payment. I really didn’t want my son to have to cosign for me. It’s ego crushing because I never needed to have anyone co-sign for me. I’ve had at least half a dozen leases in my name only that I was able to get on my own.
