Hey all. With the way the current market is I decided to take advantage of the equity position I was in on my base 2019 Jeep Cherokee lease I picked up back in 2018 (In which I rolled almost 10k negative equity into) and turn it into either cash (CarMax offered $22900, but was playing games saying they couldn’t get me in before my offer expired) or a new, nicer (preferably larger) vehicle. I chose to look at trading rather than CarMax due to them being flaky and I think I was able to come away at least somewhat decently all things considered.
The experience was quite easy, I literally just went on TrueCar and submitted the lead form and it came back with ~7% off of MSRP before incentives, which I thought was a fair deal according to market conditions and the dealer actually honored it. There were only about 20 Limited AWD models in 100 miles of where I’m at so I had slim pickens, lucky I found one in the Quartz White. They didn’t give me quite as much for my trade ($22000 and wouldn’t budge any more than that) as CarMax offered but this was just a simpler experience all the way around trading the car in.
Pics below, the LH score isn’t the highest I suppose but let me know how I did for my 2nd time leasing a car.
Year, Make, Model, and Trim: 2021 Hyundai Santa Fe Limited AWD
MSRP: $ 42285
Selling Price: $ 39195
Monthly Payment: $ 406
Drive-Off Amount: $ 2536 (Equity from trade, $0 out of pocket)
Months: 36
Annual Mileage: 10k
MF: .00119 (Buy rate)
Residual: 61% ($25,794)
Incentives: $1500
Region: Midwest/Great Lakes
Leasehackr Score: 7.9
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