That is a terrible deal. Easily giving them $10k more than that car is worth. Or paying $30k for a car that’s worth $45000 wholesale. Run. Never mind if it’s Ally or not, just run.
You can easily get 8-10% off on a 23 or 24 version of this car with better long term value. Sure you might want to drive it into the ground but if things change you’ll be happier to have a newer version that’s worth more.
In a CARB state you’re getting a much higher bunch of rebates and incentives on a 23 or 24.
I was gonna say the same but then i started wondering what rebates are available in OP’s State…especially if he’s not in a CARB state.
He’s getting the car for $42,377 after the $7500 federal rebate. I haven’t seen too many 22 GC under 50k that still qualify for $7500 rebate. or am i way off?
If the immediate buyout is confirmed at 37k well that’s not so bad I was taking it as 10k higher. Still might lean toward a newer model but that would make it a better deal.
There are no incentives other than the $7500 available on 22s.
This is $700/mo for a 22 GC 4xe. A 23 or 24 can easily be had for less.
OP is trying to buy out the car per the original post - keep that in mind. Lowest monthly is not the ONLY goal.
Assuming a 62k MSRP on a 23/24 base 4XE model, OP will need about $12k in dealer discounts/rebates EXCLUDING the $7500 to get the car around $49k. If OP is NOT in a CARB state, then i don’t think he will achieve that price point. In my opinion
That’s all the more reason not to do this. 22 GC 4xe values are atrocious. You’re basically signing up to $10k+ loss in value immediately relative to what the purchase price.
Thanks for the engagement. @LeapFrog is correct that the initial intention was to immediately buyout the lease. I was surprised they would offer the $7,500 credit on a '22 lease, so figured an early buyout would be the best way to drive down my effective purchase price. That said, others have me thinking more about the significant drop in value I’ll see immediately, and the potential headaches owning one of these may create. As I mentioned in my original post, I’m new to leasing so working through a mindset shift to get comfortable with having a perpetual car payment.
I disagree because the OP would be in the same situation if he were to buy a new 2023/24 one…the value would fall off the cliff almost immediately as well. His TCO will be lower on this one since his net out of pocket is around $43k (IF he closes to purchase immediately after signing the lease)
Regardless I would advise OP to lease a 23/24 model and dump it when the lease is over - the 4xe platform is still relatively new and not proven yet.
@kmengler15 Yeh the GC is a great car (we had an ICE platform as an extra car for Tahoe/Reno trips) but i don’t trust their 4xe platform enough to buy one…especially once the warranty runs out.
How do you figure it would be $43k? The immediate buyout is around $38k plus tax and $10k is already put down.
Selling price is $49, 877 - $7,500 fed rebate = $42,377 + ttl.
Which is a significantly higher net out of pocket cost than $43k
Lol…I’m sorry, i forgot the 23/24 Model has no TTL and definitely not HIGHER TTL since its gonna have a higher selling price and Taxed rebates. smh
Apples to Apples: 2022 GC @ 43k + TTL vs 2023 GC probably @ ~$50k (after additional rebates) + higher TTL is what the OP is looking at… so the difference really does come out to 8K+ or more.
If we are going to do an apples to apples, worst case scenario but still using ally, there would be $10750 in incentives on a 23 (thats the lowest, more available deoending on region). So a comparable msrp 23, with a realistic discount, would only be a couple grand more net cost. For a model year newer, and actually brand new, that’s a small price to pay.
With that said, i love my gc 4xe, but i would not want to be responsible for having to catch that depreciation falling knife. The buyout offers on my 22 have been in the $35-38k range. Thats not something you want to pay $48k for.
Does anyone know of a broker in IL that works with Jeeps?