Received two conflicting answers from two different Jeep dealers. I suspect I know which one is right and it’s not the one I’ve had good interactions with in the past, LOL.
Our lease on our JGC is up in a few days at month end. The residual/buyout for me is approx. $30K plus tax (and whatever fees). The first dealer said he could give me access to the equity in the car as he can also buy the car out for the residual but won’t be charged tax as he’s the dealer.
The second dealer was wishy washy claiming his buyout is market value as determined by CCAP and the mumbled some other stuff.
Now I know buyouts of leases can be wonky especially third party/non-brand dealers and also if you try to do this within 60 days of lease end. But can someone confirm what CCAP allows in terms of payoffs of leases for a Jeep dealer?
LOL, and that’s what I figured. I have traded in a lease before with Jeep and that dealer basically paid what my residual was and I saved on the taxes instead of myself buying out the lease.
Between service and previous attempts to buy, the 2nd dealer is awful. I only went there because they had an exact model I liked. I should have known better, hahahaha.
FWIW, CCAP told me this morning that within 60 days of lease end, only I can buy out the lease at that price. Dealer will get charged something different. Granted the customer service rep was fuzzy on that.
