Re-leasing 2014 grand Cherokee jeep

[brianvicki]

Hi all,
We have now had the 2014 grand Cherokee limited Jeep for four years now (98k kms) and next year we are looking at deciding to keep it for another five years, or leasing a new vehicle.
Our Jeep has been fantastic, great to drive and heaps of power (diesel) for towing the jayco camper, can't fault it all.

Any thoughts out there on any potential issues on keeping the Jeep for another few years?

[KeithB]

I have re-leased vehicles several times over the years with no problems. Even re-leased a residual. I can't see any problems and, if you find any, maybe talk to a different finance person.
Keith

[brianvicki]

Thanks Keith, the financing side is easy as you have mentioned, just wondering with the vehicle, what expectations for issues, major repairs etc. which may arise in the next 100k kms... against having a new vehicle for the next 5 years.

[silverfox1111]

Are you allowed to lease it when it's over 5 years old. The lease company I'm with has a cap of 5 years old on leased cars. But if you can do it, the jeep is certainly a nice car to have. Wish i still had mine.
Silverfox

[McGirr]

Would not the car owe you alot money releasing it.  Cars depreciate so much these days.

Curious to see the figures on it.

Mark

[KeithB]

I think if you balance up likely repairs over five years against another five years of depreciation the answer will be re-leasing.

[peter2904]

I thought there was a catch where the FBT was based in the original purchase price not the residual of the previous lease (like it used to many years ago).  So tax department wins again.
I could be wrong but worth checking.

Think the lease company I have my car through will not lease cars over 7 years old at end of lease.