Hi Scotty, Hey I’ve been enjoying your informative videos for some time now!
Would like your ask your expert advice on my specific vehicle. As my situation is kind of unique; I recently moved to an area that gets its fair share of yearly snow and ice, rain etc. Additionally where I now reside is a few miles outside city limits, as a result my 3 to 4 miles drive into town is not kept snowplowed, de-iced.
So last year I took advantage of a lease special offer the local Jeep dealership had going on. So between the several thousands incentives Jeep was offering and more than my old sedan was worth as a trade-in... I was able to get a very affordable monthly lease on a 2020 Jeep Cherokee Latitude Plus model with a complete ‘Cold Weather/ Winter / Off Road 4x4 Package’ including; remote start and de-icing, engine block heater, heated power seats, steering wheel, all weather rubber floor mats/ and cargo area...etc. So Scotty, my question for you is; Since I only drive like 5k miles per year, at the end of my 36 month lease term, I’ll only have like 15 thousand miles on this vehicle...And my optional lease buy out would only be about $12,000 ( Less than 1/3 of the original MSRP) Would this be a pretty decent investment to buy out and own about two years from now? This specific Jeep Cherokee Latitude Plus 4x4 model is the 2.4 liter naturally aspirated 4 cylinder engine, 9 speed automatic. Which granted isn’t some power house vehicle, but is fine mostly around town driving 26 mpg.
Thank you, Brad
The quality of Jeep is not good, especially in the long run, but you already paid a lot for that one. It might worth pay off the car and then sell it yourself. How much can you sell the car right after the lease?
Those become endless moneypits. I would not buy it out.
You already got a good lease you said and that’s the only way to own an FCA product. You say you don’t drive a lot (now) but what about later if you do? Also, how long do you plan to keep it? (Long enough to eventually be out of warranty?). Jeep quality varies so much you could potentially start having issues right after you buy it or later out of warranty, and it could be so bad you wish you never bought it. If it were me, I would just return the vehicle when the lease is up.
May be a good idea. In 3 years, inflation will drive new ones towards $50,000.
