Buy My Wrangler Lease is Up or Get a New One? - JeepForum.com

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post #1 of 25 Old 06-21-2016, 04:20 PM Thread Starter
docbud
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Buy My Wrangler Lease is Up or Get a New One?

I’d appreciate your input.

Basic background: My 2013 Wrangler’s lease is up in August. So I have to decide whether to buy it (via financing) or go for a new one. As a note—I will not lease again. I only did the last time because I was paying off my charge cards at the time and needed a lower payment. And both my sisters (who work a various dealerships) convinced me leasing was a great thing. I can definitely afford higher payments now ($500 or so).

Anyway—about a month ago, the MIL (check engine light) came on. At first I thought it was for the gas cap and within a few days it went off. But recently it’s been coming on once a week for a few days and then it doesn’t. So I took it the dealer this past Saturday when I had my oil change and they pulled the codes.

One is P0306 (Cylinder #6 misfiring) and P0300 (multiple cylinders misfiring). They will be doing a leakdown test tomorrow.

Now my question—if it’s not an easy fix and they have to replace cylinders and whatnot, would I be crazy to buy it (and finance for several years)? I’m worried that if they do the repair wrong, I’ll be bringing the Jeep in all the time, and I don’t want to do that.

Do I buy it or get a new one?

The issue, I admit, is that that the payoff is approximately $18,040 for this 2013 and it will be below 19,000 miles when the lease is up. I looked at my contract, and is does give me the amount I can buy it for when the lease is up. But—then we have to add on taxes and definitely an extended warranty as I’d be nuts not to get one if I’m financing it.

And a new Wranger (2016) that I like is $29,000. If I buy add in those taxes and extended warranty. We’re talking $11,000 dollars difference.

I figure I can put down only $5,000 as a downpayment (which would basically cover the taxes and warranty)

And, if I were to keep the old one—it’s three years old. Things start going wrong around then. Things like u-joints, ball joints, etc. And I’m sure probably brakes, at least the front. I had to get new rear brakes at 14,400 miles (last year).

Anyway—sorry for the length, but I wanted to try to cover most things in the opening post. I appreciate any advice/input.

NOTE: I am NOT mechancially-inclined and can’t do my own work on it. I’m the idiot who smashes his thumb with the hammer.


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post #2 of 25 Old 06-21-2016, 04:51 PM
cranbiz
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This should be part of the bad head issue that is a known issue. You may want to check with Chrysler to see if it can be covered by them. I thought that Chrysler had extended the warranty on the left head to 10 years or 150,000 miles on the 2011-2013 pentastars. Your codes indicate a left head issue.

I just had a head replaced by the dealer in a Liberty by the dealer, ran right about $2300 but as a Mopar part, comes with a 2 year, 24,000 warranty. It's been fine since the head was replaced.

I also had the left head replaced in my 12 JK by Chrysler as part of the TSB. Mine was still in warranty at that point so it was at no charge.
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post #3 of 25 Old 06-21-2016, 11:21 PM
pentastarguy
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i would let the dealer fix under warranty and then decide. if you keep it you are buying a used car, always cheaper, from yourself. sounds like a win.
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post #4 of 25 Old 06-22-2016, 05:26 AM
Mlarv
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Quote:
Originally Posted by docbud View Post
I’d appreciate your input.

Basic background: My 2013 Wrangler’s lease is up in August. So I have to decide whether to buy it (via financing) or go for a new one. As a note—I will not lease again. I only did the last time because I was paying off my charge cards at the time and needed a lower payment. And both my sisters (who work a various dealerships) convinced me leasing was a great thing. I can definitely afford higher payments now ($500 or so).

Anyway—about a month ago, the MIL (check engine light) came on. At first I thought it was for the gas cap and within a few days it went off. But recently it’s been coming on once a week for a few days and then it doesn’t. So I took it the dealer this past Saturday when I had my oil change and they pulled the codes.

One is P0306 (Cylinder #6 misfiring) and P0300 (multiple cylinders misfiring). They will be doing a leakdown test tomorrow.

Now my question—if it’s not an easy fix and they have to replace cylinders and whatnot, would I be crazy to buy it (and finance for several years)? I’m worried that if they do the repair wrong, I’ll be bringing the Jeep in all the time, and I don’t want to do that.

Do I buy it or get a new one?

The issue, I admit, is that that the payoff is approximately $18,040 for this 2013 and it will be below 19,000 miles when the lease is up. I looked at my contract, and is does give me the amount I can buy it for when the lease is up. But—then we have to add on taxes and definitely an extended warranty as I’d be nuts not to get one if I’m financing it.

And a new Wranger (2016) that I like is $29,000. If I buy add in those taxes and extended warranty. We’re talking $11,000 dollars difference.

I figure I can put down only $5,000 as a downpayment (which would basically cover the taxes and warranty)

And, if I were to keep the old one—it’s three years old. Things start going wrong around then. Things like u-joints, ball joints, etc. And I’m sure probably brakes, at least the front. I had to get new rear brakes at 14,400 miles (last year).

Anyway—sorry for the length, but I wanted to try to cover most things in the opening post. I appreciate any advice/input.

NOTE: I am NOT mechancially-inclined and can’t do my own work on it. I’m the idiot who smashes his thumb with the hammer.
Howdy. I was just in this spot minus the head problem. I had many CEL and a few other nagging problems. I bought it off of lease using the Chrysler Capital lending company. I called CC and they told me buyout price and transfered my call. After approved everything went fast and smooth.

I did it for two reasons
1 the buy out was less then Blue Book
2 IT is still under warranty

If you don't like it down the road you can sell it out right

So if you can do with out the smell of a new car I would it

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post #5 of 25 Old 06-22-2016, 11:25 AM
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The only time I ever recommend a lease is on a vehicle that A)you intend to keep B) that will not be used in business (some exceptions) and C) will become collectable or retain value well. You have nothing to loose on the depreciation. The depreciation is the cash profit for the lessor, but does NOTHING for you either way. That's why your payments are lower. Once lease is satisfied - if you are not more than 10% over the mileage - you are buying a car from yourself as stated above.
Now that logic is different than what the sales folks tell ya. not because they are dishonest (their recommend is usually lease if you are a trade up every three years type person) that makes sense for short term financial goals. Most people tend to only think short term - survive mode, rather than long term - thrive mode...
Given that - if I were in your situation I would have it fixed under warranty, buy it, and pay it off as fast as you can afford. Even if things DO start going wrong - 500 a month goes a long way to both a repair fund - and if things go well, you really enjoy the period where a car gives it true value and the cash unspent becomes your savings.
Here's my example. I bought my very first brand new car in 2002 - a Cadillac DHS fully loaded - got it for 48K. Yes expensive - but the reason its expensive is NOT status - its a MUCH more solid car - so does not come apart as fast. 12 years and 289k miles later I sold it for 3000. After the first five years the car retained 45% of original retail value. During the last five years I did spend some on repairs ~6K over five years - add in tires, fuel, oil etc - my total cost (not including interest, ins and license) was 72K - .24 per mile. Had I leased that car and bought it out at end - I would have spent 5k less. Had I bought a $20K Chevy (pretty much worn out by 100k with only 15% retained value in five years), I would have repeated the purchase TWICE - 60K before any interest or operating expenses.
The Wrangler kicks butt on value retention!
PAY YOURSELF before you pay others!

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The wagon should, of course, be as light as possible, but strength should not be sacrificed to lightness, for on any but the regularly traveled roads, the wagon will get many a hard knock...
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post #6 of 25 Old 06-22-2016, 04:24 PM Thread Starter
docbud
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Sorry about that Jerry. I thought I had put it in JK, but I must have gone to the TJ because I used to have an ’06.

And thanks for the input. I think I agree with you pentastarguy and MIary.

And I lucked out—it was just the PVC valve and hoses. They said this morning it would take several days for the parts to arrive and I was given a rental car (paid for by the dealer).

I get home tonight after work, and they called and said it was ready!

I guess they pulled some strings or have a good working relationship with another dealer, because they must have gotten the parts from them.

So, I’m all set.

And I’m definitely leaning towards buying it once the lease is up (and as suggested—pay it off asap).

Thanks again!

doc

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post #7 of 25 Old 06-22-2016, 05:08 PM
222Doc
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I will bet the code returns. I will call bs on the dealer pvc and hose, that is what they were pawning off back in 2012, maybe a lifter or bad gas...etc etc...... That was to get you out the door. I could be wrong, but we are talking a 3.6 hear. how much longer your warranty? once it makes it across the line, no matter what breaks its on our dime. even if its was bad to start. though you have a case now that it was in for the infamous 302 or 306. this even effects the other bank as well . they just to tend to last long enough..

What were the numbers on that leak down test, i know mine were horrible.Does it have the left bank tick? 306 is a know exhaust fail point as is 302. 300 means more than one. to do the leak test on these you have to remove the intake to get to the plugs. to do it.

I would get ride of it if they leave a possible head failure. The warranty extended i thought it read to those that HAD it replaced at any point under warranty. Since some replacement heads have failed as well back in the 2011-13. mine died at 20k in late 13. it is 12 built in 11.

The head replaced on mines was done well. As if by a master mechanic as i checked the work and i have an eye for this. a Latter recall on that PS hose was a TOTAL fail job. oil every were. Unless its something only a dealer can fix warranty i would avoid them. i all cases.

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post #8 of 25 Old 06-22-2016, 05:58 PM Thread Starter
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^^This dealership seems good. I've been to bad ones before, and this one isn't one of them. They told me from day one that if the leak test showed cylinders needed to be replaced, it would take such and such time, and not to worry--it was covered and I would have a loaner.

The codes were P0306 (#6 cylinder misfire) and P0300 (multiple cylinder misfire).

The lease is up in August and if I do buy it I can still buy the three year extended warranty through Jeep.

I'm guessing they did the leak test correctly, as it took them almost three hours to call me to let me know what was going on.

I don't know the numbers on the leak down test. All they said on the work order was (and I will not quote exactly):

Quote:
Tech states there is excessive oil on the intake elbow, throttle body, and lower intake.

Installed PVC Valve.
Installed Intake Plenum
Replaced valve and cleaned hose.
Flashed the controller in accordance with bulletin D09-12.
And I know what you mean about dealers (the one I used to go to was always finding stuff wrong or doing a lousy job), but not this place. Actually--my only complaint about them is that they always state on the work order that I didn't want the Jeep washed, even though they never ask me. But other than--it's the best dealer I've ever been to.

If anyone is from Central New York--what are you views on Driver's Village in Cicero?

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post #9 of 25 Old 06-23-2016, 08:04 AM
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Docbud, I had the same exact code in my '07. It was a bad spark plug. I put in high quality wires and plugs and the issue went away. I say you should look into getting a new jeep! Why not go with a 2016?

I don't want your d**n lemons! What the hell are these?! Demand to see life's manager! Make life rue the day it thought it could give Cave Johnson lemons! Do you know who I am? I'm the man who's gonna burn your house down! WITH THE LEMONS! I'm gonna get my engineers to invent a combustible lemon that BURNS YOUR HOUSE DOWN!

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---
Quote:
The 2008 Jeep Wrangler is not so much an SUV as it is an experience. It's slow and loud, handles poorly, has crummy interior materials and features doors that provide virtually no crash protection. But when it comes to off-road performance, the Wrangler is simply the best choice available.
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post #10 of 25 Old 06-23-2016, 08:26 AM
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Docbud, I had the same exact code in my '07. It was a bad spark plug. I put in high quality wires and plugs and the issue went away. I say you should look into getting a new jeep! Why not go with a 2016?
Your as bad as my Brother - he trades his Harley in whenever it comes due for an oil change!

J Wm Bishop EA, ASADE
The wagon should, of course, be as light as possible, but strength should not be sacrificed to lightness, for on any but the regularly traveled roads, the wagon will get many a hard knock...
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post #11 of 25 Old 06-23-2016, 09:03 AM
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I bought mine off of lease last month even tho the lease was not over until Nov. They just added the last few payments into the price. It really was fast and easy to do. Like I said I contacted CC and away I went from there.

That way you don't have to wait or go back too a dealer to do it. Maybe save some dealer cost.

Have Fun
Mike

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post #12 of 25 Old 06-23-2016, 04:02 PM Thread Starter
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^^Good to know (and congratulations).

I'm not leasing through CC, but someone else. But I'm sure a quick trip to the dealer won't last long if I want to buy it.

And like you said--the buyout if less than the Bluebook. And the dealership would make a killing if I gave it back and leased/bought something else. A three-year old Wrangler that is immaculate and only 18,000 miles?
@MacK : One reason I am leaning against the new one is the price. Eleven thousand dollars is a lot of extra money to be financing. That's an extra 150+ a month. And my '13 only has a little over 18,000 miles.

But I'll be honest--that 2016 granite Wrangler is gorgeous. So is the Rubicon (same color) (but $35,000). But a Rubicon would be wasted on me. Plus it has those all terrain/mud tires on it, which would be useless in the New York state winters. I'd definitely have to buy different tires for winter. But I'm thinking I need to be practical.

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post #13 of 25 Old 06-24-2016, 06:46 AM
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Nice info in this thread, I'm a first time leaser and I'm trying to get my head around the whole allure and ideal. I'm a bit concerned about "wear and tear" Its great motivation for me to keep my kids in line and not destroy the back seat I can't say where I'll be in 3 years and how the jeep will wear but I seem to be wanting to "own" this even after the lease - partly because I swung a great deal and have options I would not normally get, such as navigation. Even so, I know 3 years is so far off, its hard to say what I should or shouldn't do, but its nice to see others basically thinking/doing the same thing I'm wanting to do when the time comes
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post #14 of 25 Old 06-24-2016, 07:22 AM
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Originally Posted by Mlarv View Post
I bought mine off of lease last month even tho the lease was not over until Nov. They just added the last few payments into the price. It really was fast and easy to do. Like I said I contacted CC and away I went from there.

That way you don't have to wait or go back too a dealer to do it. Maybe save some dealer cost.

Have Fun
Mike
How does that work... buying off the lease? I'm only 13 months into a 39 month lease and I know I will buy the Jeep when the lease it up. Job situation has changed for the better and now I wish I wasn't still leasing and I have just took a loan (bought it) in the 1st place. would it be dumb to try to buy out a lease this early?

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post #15 of 25 Old 06-24-2016, 08:33 AM
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Originally Posted by brandofamily View Post
How does that work... buying off the lease? I'm only 13 months into a 39 month lease and I know I will buy the Jeep when the lease it up. Job situation has changed for the better and now I wish I wasn't still leasing and I have just took a loan (bought it) in the 1st place. would it be dumb to try to buy out a lease this early?
If it is though Chrysler Capital, give them a call and look at the numbers. They gave me a buyout price which rolled the remaining lease payments into it, but I was less then 6 months left.

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