Hi all - I was reading an article on Jalopnik about how manufacturers are trying to restrict consumers from making money on their lease in the current market (used cars are hot). It got me thinking about my current situation with my 2018 Jeep JLU MOAB lease through Chrysler Capital. I’m wondering how I’d get screwed if I tried to but-out my lease and sell the car. I’m in CA (Los Angeles) by the way.
Right now, I have about 20 payments left at $556 ($11,XXX) and the residual value on the lease is $30,XXX. I called Chrysler Capital and they told me my buyout is just over $38,XXX. I went online and got a buyout offer from Vroom for $46,XXX (seems a bit high, but okay). I have the cash on hand to handle the $42,XXX buy-out (remaining payments + residual). Is this an easy way to make like $4K (less taxes, right?) and jump into a lower priced vehicle?
Right now, this is purely a thought exercise - I don’t need the cash and I can continue happily with my Jeep though I would like something that is more efficient, like a hybrid. What am I missing besides I’d have to get a good deal on a new car?
Edit: added buyout from Chrysler.