Option at lease end?

Asked by Chester05 Jan 11, 2018 at 09:30 AM about the 2015 Jeep Grand Cherokee Overland 4WD

Question type: Car Selling & Trading In

Hit there!  My question is around my 2015 Grand Cherokee Overland with all
the bells and whistles, my lease is up April 20th and the residual is 29,431
and I only have 23k miles on it.  I won't go into the story, but my husband and
I are separated and he owed me quite a bit of money,  He has signed over
the title to a 2012 f350 super duty diesel truck with 101k miles on it to me.  I
cannot use this truck as a daily driver to my office job.  My question is, can I
trade in this truck to buyout my leased jeep?  I've done my homework on the
truck and comparable options and miles and year are selling at dealerships
used car lots at about 33-35k, no mechanical issues or imperfections, brand
new tires/brakes/shocks to boot.  Thank you!!

3 Answers

5,565

You're best bet is to sell it to someplace such as Texas Direct Auto, Carmax, etc. Those trucks may be selling on dealer lots for that, but you'll need to seriously lower expectations on what you're going to get as the new trucks have heavy discounts on them right now which depresses used truck values. Anyway, once you sell the truck just take the cash and apply it to your lease. That's the best, and easiest, way to go about it.

Thank you Auto_Adrenaline, we're located in NJ and I've been taking note that these used diesels are selling within days of hitting the lots! A 2018 f350 super duty diesel Lariat goes for about 70k and discounts range from 3-5k right now. I didn't think I would get what a dealer would sell the vehicle for at all, but as close to the 29k I can get all the better. My question was if I intend to go this route, will the dealer take the truck as a trade-in to buyout my leased jeep? Thank you so much!

159,325

The dealership that handled the lease on the Jeep can likely put a deal together for you, but you will likely take a beating on the Ford truck's value.

1 people found this helpful.

Your Answer:

Grand Cherokee

Looking for a Used Grand Cherokee in your area?

CarGurus has 3,179 nationwide Grand Cherokee listings starting at $3,995.

Postal Code:

CarGurus Experts

  • #1
    Hornet_2497
    Reputation
    8,970
  • #2
    Gene Arnett
    Reputation
    7,010
  • #3
    thejeepdoctor
    Reputation
    6,580
View All

Find great deals from top-rated dealers

Search

Related Models For Sale

Used Dodge Durango
50 Great Deals out of 2,221 listings starting at $5,500
Used Dodge Charger
36 Great Deals out of 749 listings starting at $3,400
Used Jeep Wrangler
131 Great Deals out of 5,022 listings starting at $4,500
Used Dodge Challenger
29 Great Deals out of 476 listings starting at $7,999
Used Jeep Cherokee
106 Great Deals out of 1,597 listings starting at $5,499
Used Ford F-150
296 Great Deals out of 14,245 listings starting at $1,712
Used Ford Explorer
80 Great Deals out of 2,099 listings starting at $3,995
Used RAM 1500
470 Great Deals out of 15,795 listings starting at $1,500
Used Toyota 4Runner
20 Great Deals out of 293 listings starting at $9,995
Used Chevrolet Tahoe
12 Great Deals out of 873 listings starting at $12,900
Used Chevrolet Silverado 1500
177 Great Deals out of 5,850 listings starting at $2,975
Used Chrysler 300
29 Great Deals out of 550 listings starting at $4,888
Used Chevrolet Camaro
17 Great Deals out of 292 listings starting at $9,999

Content submitted by Users is not endorsed by CarGurus, does not express the opinions of CarGurus, and should not be considered reviewed, screened, or approved by CarGurus. Please refer to CarGurus Terms of Use. Content will be removed if CarGurus becomes aware that it violates our policies.