We Leased, OKAY, Dave Ramsey?! :)

So Shea and I are leasing our Jeep Cherokee. We decided it was time to get a second car when we knew it was time to move out of my parents house. What? No more Grammy trying to breastfeed baby Ella? Let me just say, it was time.

The issue was, we needed two cars immediately. We wanted a safe, reliable vehicle within a $250 monthly budget, and paying the same monthly for an older, used car that we would have to pay to be serviced was not an option for us.

We were in contact with a salesman at our local Jeep dealership, because they had the $199/mo, $4,000 down, lease deal that we were interested in from TV advertisements. So we made an appointment.


The only upfront cost was the downpayment ($4,000)… We used a portion of our tax return in February. (I don’t recommend this, ideally we would save it, but again we needed another reliable source of transportation) Buying a car with our criteria would require a down payment anyway.

The tax, title, and licensing was added onto the monthly lease for a total of $230 a month for 36 months. We did get the Jeep Cherokee Altitude Plus, with a 12,000 yearly milage limit. It would have been probably $30 cheaper monthly if we didn’t have heated seats and steering wheel, but I NEED THAT. Service is included, so our salesman said that we shouldn’t even have to change the tires over the next few years. The only things not included are the oil changes… We’ll have to pay out of pocket for that, but if all we have to worry about are oil changes, sign me up. Our credit score is above 700 so that was acceptable, but since Shea didn’t have any auto purchasing history, we needed to add a co-signer to our lease. Other than that, we didn’t encounter any other problems. I believe if your score is lower than their requirements, you’d have to pay a little more, so I would ask your local dealership. I love how most dealerships have an online “chat” function, so you don’t have to talk to anyone anymore. It’s lovely. My bank has that feature as well.

If we would’ve purchased a preowned Jeep, we wouldn’t have been able to afford the cold weather package, we would’ve had to purchase an older model (2014 or older), we would’ve had to pay for maintenance (which would’ve been inevitable) or it would’ve had to have had super high milage. No bueno for this princessa. So for us and our small family of 4 with 2 carseats, this was our best option! Now I agree that long term, this cycle of massive down payments is outrageous, but for the next few years until Shea is established in his new title change, this works for us!

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