Just saw an ETF letter from CCAP. They give two amounts, the gap from the residual and what it sold for at auction and the total of any remaining payments. You pay the lesser the two amounts, plus the $495 etf. Mystery solved.
Thanks @Yanoosh!
This seems to be a regional thing as contracts are not all the same.
Thanks for the update
So you paid all the remaining lease payments and you still owed an additional $1600 because you terminated early?
No, the ~$1600 is three months of payments I hadn’t made.
So asked me dealer specifically about this type of situation and was told I’m “less then 90 days out, you are fine” and I have it in writing via text with sales rep at jeep dealer. Turns out I “terminated” lease 31 days out when I picked up the wife’s new grand Cherokee. I made the last payment the day after dealer grounded the wrangler 4xe lease which was my last due date. Now I’m being told I have to wait for results of auction and everything “should be fine”. I’m freaking out, sorry for all the quotations lol. These wrangler 4xe are getting hammered at auction I’m assuming, my adjusted lease end value was like 38k I’m really nervous about getting on the hook for 10-15k. I’ve read all the previous posts and would appreciated any guidance here. So will I have to pay a large amount or just a little like 1k or so? Really disappointed the dealer misled me on this as I asked numerous times and was reassured this does not apply to me. I understand though I may be screwed as the lease is signed did state and early termination clause, just don’t think it applies here considering I was paying final payment and leading a new jeep. Any input would be greatly appreciated. Thank you all in advance
You’re good. Might get hit with a $495 instead of $395 fee, but as long as no wear and tear I wouldn’t worry.
This is state, bank, and how the grounding was processed dependent. It is not the same for all situations.
It’s not though. You’ve said this multiple times and it’s been the same every single time, no matter the location.
It is. There is different language in the lease contracts by region. Some specifically call out the 30 day early termination window (well, technically call it out in terms of anything prior to the final payment due date). Some do not.
There is no verbiage in any Chrysler Capital clause that states 30 days. Every single person that has posted has only owed the remaining payments and the etf fee. It even specifically said they owed the lessor of the two amounts, the payments plus $495 or the difference between realized value at auction and residual.
Item 5 covers the case of not owing any more than the remaining payments plus excess wear and tear. Are you saying not all contracts have this clause?
Welp, finally turned my Jeep in today. ETF was no longer an issue, but holy crap the difference between dealers is insane…
The local dealer I confirmed with them multiple times I was looking to ground my lease and wondered if I needed an appointment. Nope, come on in whenever!
Went at a time when I didn’t think it would be busy, it was not, and “attempted” to ground my lease.
The manager was completely clueless. First told me I had to go to originating dealer, lie #1. Next told me he couldn’t ground the vehicle without the original charger, lie #2. Finally said he couldn’t ground the vehicle without doing the complimentary, optional 60 day pre inspection, lie #3. I literally confirmed all of this with Chrysler Capital prior to my visit and confirmed again while I was in the dealership. I explained to him none of what he said was correct, which I figured was going to piss him off, which it did.
He then said he’d try to ground it, but he can’t guarantee he has any space for the vehicle and that I will need to keep insurance on the vehicle after it’s grounded, as it’s not his dealers vehicle (it’s Chryslers vehicle at that point), lie #4.
I just said appreciate the help and left. Called a dealer about 25 miles away, explained what just happened and he said head on over and he’ll have me out in 15 minutes. He had me out in 10.
After this whole debacle, I think I’m done with Stellantis forever. Brand is in a death spiral and after all the trouble I went thru owning the vehicle, I deal with complete ineptitude giving it back.
Anyhow, thanks all for your replies and experiences. Glad to be done with all this. Now let’s see if they try and charge me any wear and tear. Vehicle was immaculate and 8k under mileage. I was sure to take plenty of photos.
Did you get the AIM inspection before grounding?
I did and got a ‘clean’ report, so we will see what happens when I try and return in in a few weeks. I hope I don’t have the same hassle you had, but I am a little concerned I might since I am not leasing a new one for the first time in about 10 years.
Nah, I didn’t do the aim inspection. Seemed pointless with the condition my vehicle was in. I just went around the car with lease inspection tool jeep gives in the lease end guide. They’re supposed to just inspect it at the dealership when you turn it in according to Chrysler Capital. They didn’t even inspect mine when I turned it in other than just telling me it looked brand new. I’m sure I’ll get some BS charge, seems like it always happens.