Returning leased Jeep GC Overland

[ShopChi]

I leased a 2018 Grand Cherokee Overland in and i have about 2k miles before i reach 36k, but my term doesn’t end until September. Do dealerships offer deals if you return your car to them before the term?

I’ve been looking to upgrade to a larger SUV with 3 rows, but Illinois doesn’t seem to have many deals posted on here. Is Illinois a bad place to lease, If so, which states offer to ship or even allow me to pick up a new lease. I’m willing to go anywhere, especially if they take my Grand Cherokee.

[forbs]

1. Depends, if your car has any value in it then they ‘might’ but so will Carmax for example and more money than a dealership would (usually)

2. Ask a few ‘broad’ brokers there (maybe the dealers are too few) or post in Marketplace → Wanted Part 2 and see if anything pays out.

[patman3663]

check Carvana, Vroom, and Carmax for current prices for your car. might have enough equity in it due to used car prices spiking right now to come out ahead or at least even.

[Kctham18]

@ShopChi

If so, which states offer to ship or even allow me to pick up a new lease.

It’s not state specific, but rather dealer dependent (if they want to do out-of-state deals). Either work with a broker from the marketplace or start canvassing/contacting dealerships with your offer.

There’s a lot going on here, and best to separate your current lease (turning it in or selling it) from your next new one.

Here’s some common advice:

Lease Buyout:

You can have a third party buyout the car. In order to do that, you would call your leasing company and get the current “dealer payoff quote” which is the amount of money needed right now to payoff your car which will satisfy your lease agreement. Once you have that number you can take your car to your local Carmax and see what they would offer to buy your car. If the amount is near or above your dealer payoff quote, then you can sell it to them and you would be out of the lease. Alternatively, you can get an online quote from vroom.com or carvana.com who will give you an instant online offer. If you accept the offer, they would come and pick up the car from you and pay you on the spot. Ideally you would get a quote from all sources as they may vary significantly. For more information, please see forum discussions:

Sold one to CARVANA!

We got the VROOM topic going (Sold one to VROOM! - #254 by SunshineOC) but thought I’d throw in how easy it was with Carvana too, and why it’s important to check both. Put the wife’s Lexus data through both Vroom and Carvana, vroom was $2k under the payoff, Carvana was $45 over it. Submitted the paperwork for Carvana, got on the phone with them to discuss lease transfer stuff with Lexus in the state of MO (easy peasy). Setup a time for pickup to be 10am on a saturday. 10:02 am knock on the doo…

Sold one to VROOM!

Not a lease deal, but I sold my prior lease to Vroom.com today. I rarely plug companies, but holy cow it was easy! I also got a quote from Carvana, which was more than $2K below my payoff – Vroom was $1,600 over my payoff. Huge swing in my favor. For reference, the car was a 2016 Acura MDX with the tech package, black/black with just under 20K miles. My sense is that pricing is heavily driven by direct demand for inventory for the company, so pricing will be relative to demand for the color, o…

For additional information, make sure to check out Leasehacking 101: How to End Your Lease Early

Leasehacking 101: How to End Your Lease Early — LEASEHACKR

[toleaseornot]

I second checking Vroom, Carvana, Carmax and Algo. I also have a 2018 GC with a lease expiring in November and I currently have about $4k in equity from Vroom’s offer. If your lease is through Chrysler Capital the residuals were very low at that time, at least in my region. My current pay off is just above 26K and their offer was just under 31k.

[ShopChi]

My payoff is about 28k and hey both offer 33k. looks like the best route to go