Hey Guys, don’t beat me up with this question. I know I shouldn’t have made the purcchase.
I have a 22 Jeep High Altitude wrangler, with 20K miles. I current payoff is 60K, I want to get out of the vehicle, Will a lease work and if so what vehicle would you recommend?
First off, how much negative equity do you even have?
Also do you really need to get out of the Jeep and into sowmtigng else? If so why? I ask because it kind of drives wahr I would or wouldn’t recommend to you.
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15K. The monthly payment of $879 is what driving me out of the jeep. I’m going through a divorce and just bought a home.
Ok so $15k is $417/mo over a 36-mo lease before interest.
So that means you’d have to be somewhere south of $400/mo and need a car that has $15k of headroom to bury the NE.
That seems like a nearly impossible combination only perhaps another Jeep would get you there and for your efforts you’d probably only get the payment down by less than $100…
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I was afraid of that. I’m willing to put some money down to help.
You’re just moving money around for the illusion of saving money.
Just to confirm this was a purchase not a lease correct?
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Ride it out until the end. There is no logical way to “bury” $15k. Burning money is burning money.
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It is a purchase
Have you considered putting money on the loan and refinancing?
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What if you put that money down and refinanced? What is the current interest rate in the loan?
I thought about refinancing, but wasn’t sure if get approved. Just closed on a home.
If you won’t get approved on a refi, you won’t get approved on a lease
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6% interest through Navy Federal
How many quotes have you received. Have you tried all the easy online ones as well? Only hope is it’s not really 15k.
I just went to one jeep dealer and that was just to sell it back to them. I was was wondering to see what they would come back with
Start typing lol
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Wait until you can refinance.
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Seems like I’m stuck with it. Thanks for advice
If it’s a finance, you damn well need to make sure you have GAP prior to committing insurance fraud, lol.