My 2014 Cherokee lease is up in August 2017 and I'm distraught with options on where to go from here.
I can painfully throw $20k down, so my options are:
A) Purchase my 2014 Cherokee, that has a replacement transmission and multiple problems resolved. Realizing that this thing depreciates like a rock and doesn't resell well at all.
B) Continue leasing a new Cherokee, therefore unable to fully utilize the vehicle off road.
C) Purchase a new 4Runner TRD Off Road Premium and have a vehicle with a great blend of practicality and off road capability + lacks the depreciation of the Cherokee.
This is a biased audience, but I'm curious if others have struggled with these decisions and what you did. I test drove a 4-door Rubicon the other day and can't justify the minimum $39k on such a basic vehicle, when I can get the 4Runner tricked out for $38k. Trying to make a smart decision for the family off road capable vehicle for years to come. Any advice helps!
I guess I should elaborate on my needs. I want a vehicle that is a daily driver, but is respectable off road. I like to be able to run 4/10 low end rated trails to get places, not necessarily to rock crawl for the sport. The Cherokee has been both great and terrible, mainly due to transmission issues. I hate the lack of responsiveness to driver inputs - feels like the transmission computer has a mind of its own at times (even after my replacement). More cargo space is great, but the Cherokee does the job. I do appreciate the fuel economy too. I really question the long term reliability of the 2014 Cherokee in particular.
Right now, you know exactly what you have. Is the $20k negotiable? Figure out the total that you have forked out during the lease period. Add 20k. Now, is the Jeep still worth it to you? I have a friend in the same position. He has a Highlander Limited. He really likes my Jeep. Our common friend is trying to talk him into a BMW x-whatever. The dealer ended up letting him extend his lease for 6 more months. I would think that the 4Runner would not ride as nice, nor get the mpgs. And, it seems to me that all 4Runners and Tacomas are prone to rust. I don't know where you live, but here in Northeast Indiana we get a lot of Lake Effect Snow, and the concentration of salt to sand has to be greater than 50/50! It turned my MT to white last winter! I am in a position now where I don't drive as much as I used to, so I could lease. I chose to buy so I could make my TH mine. Everyone has an opinion. You have to do what your gut tells you to do.
My 2014 Trailhawk purchase price is right under $20k, plus taxes, etc. So far I haven't been able to get anyone to negotiate that down; dealer or Chrysler Capital. Would I buy it over again at the original price? No, because Chrysler has been extremely difficult to deal with to date with customer care and service departments. That said, I'm half way to ownership and have kept the vehicle in great shape - financially could call it a done deal.
I live in Boulder, CO, so rust is somewhat of an issue, but the dry climate helps. I know for a fact that the 4Runner doesn't drive as nice, valid point. KDSS suspension mitigates that a bit. It's also more vehicle than I want to park and take on trails, but when I have kids the space would be valuable.
It's quite enticing to own the vehicle that I've grown to like. I just wish I knew that it was money well spent and would last a long time. Tough call man.
Do not buy your lease out. It is likely worth nowhere near your buyout figure being that it's a 14. It's likely worth 60-75% of what you have to buy it for. If you can get out free and clear with no turn-in fees, get off the ship now.
I have driven a 4Runner and I can tell you that they are not as nice as people think. They are very "tinny" sounding when you close the door for example, if that makes any sense. They're built to minimum specifications in many categories, and the ONLY reason they don't depreciate is because they have a magic grill emblem. Also, it's features inside are nowhere near as intuitive or as utilitarian as a KL. basically put, it isn't nearly as nice, and gets by on its Toyota heritage.
That leaves you with leasing a new Cherokee. Lease programs on these cars are phenomenal right now, plus you would get returning leases rebates. Look into getting a new Trailhawk. You can always off-road in a lease, don't be afraid of that! Just keep in mind that excessive wear and tear will ding you at the end, but if you are in your car "right" at the end (which you are presently not) then just buy it and avoid the penalties.
Or, a fourth option: BUY a Cherokee. Purchase incentives are high right now as well, so you can get thousands off a Trailhawk model of your choosing that is much more comfortable, easy to use, and familiar to you than a 4Runner.
1. I'm not buying my 2014. I've had no problems with the vehicle, yet it still is the first model year, I knew I was NOT going to get a great price from the leasing company, and I'm not convinced there won't be problems down the road.
2. I just factory ordered a Limited V6, with the exact options I wanted, but this time with Active Drive II. Got $7,750 off the MSRP (this is the perfect time and last opportunity to factory order a 2017). And that's the best combination I could think of between a good long-range cruising vehicle and moderate off-road possibility.
3. I'm leasing again, because that's the cheapest up front, with a view towards buying at the end of the lease this time. Of course there's always the option just to walk away.
Having recently moved from 4Runner Limited 4x2 to KL Trailhawk, I can confirm the KL ride is much smoother...but that's likely because 4Runner is body on frame truck and KL is a SUV crossover meant to ride like a car. That said, had my 4Runner not been totalled, I'd still be driving it and it was going to be my drive forever vehicle. The only reason I didn't replace it wirh another 4Runner was because I only cleared 18k on the 4Runner total and just happened to see the $5500 incentive markdown on the Trailhawk...if I could have got into another 4Runner for same price, it's what I would be driving now.
As for holding value, fit, finish, etc., my personal experience is the 4Runner wins hands down. The reason they hold value is they are made in Japan where fiascos like the KL transmission from 2014/15 would have been responded to differently and immediately corrected...instead of blowing smoke at customers. The door analogy above baffles me because everytime I open the rear doors on my KL, I can hear the door hinge rub against the door frame. Looking at them, it doesn't look like the doors hang right to give them free swings. In the 4Runner, there was no such issues and after 2 plus years, there wasn't a squeak, rattle, or noise to be heard. Remember, this was a Limited though...not sure how the TRD would hold up. If I have ANY of the me hanical issues with my KL TH reported in this forum or others, I'll be back in a 4Runner in short order. BTW, you WILL get much worse mpg in a 4Runner...
Sorry after @Lab4Us's post can't hold back any longer.
As @IRSmart said the only thing giving that resale value is the badge.
Toyota is not and I repeat NOT, absolved from problems, hello Takata airbags number 2 buyer, Honda was number 1 BTW, Japan doesn't solve problems they can hide easily. Honda has the ZF designed 9spd auto BTW and they are still having issues 3 years later, Jeep issues are dropping significantly. Nevermind a poorly designed floor mat that can jam a gas pedal wide open. Please anybody that says Japan auto manufacturers can handle build quality better, needs to see that a lot of their final assembly is here in the US due to cheaper labor costs and cheaper land costs and ALL that profit goes back to Japan and not into to designing a new product every 3 years instead of every decade.
Not saying that Jeep hasn't had it's issues either but, they are working on it just as ANY other manufacturer would in order to keep a profit.
All this being said, you can get a 4Runner and have less but, still have that wonderful resale value, that some noob will pay for when you trade it and then they'll destroy it with $20K worth of mods and it's resale value is $0 because it is as practical as blind umpire or, get more for your money with a KL, suggest a TH, yeah that's bias because we have one but, it's Certified for the Rubicon Trail straight out of the factory and, get more bang for your buck on the front end.
Easy, nothing personal, just relating "my" experience as my post stated. When totalled, ALL airbags in my 4Runner (2015) deployed flawlessly (and likely saved my life). TBH, I've never seen 20k of after market parts on a 4Runner. I really don't get that personally invested in defending branding, however the reasons (4Runners) hold their value is because they are driven for 100-200k miles (when properly taken care of), or even more. If my Trailhawk makes it that distance, I will sing its praises as well...and I would definitely prefer to buy American if I can get similar quality and performance. Cheers!
I just don't really understand leases I suppose. It sounds really crazy if you are saying that they are asking you to pay $20,000 for the vehicle you have been paying on for three years? And one that you could probably buy for way less than that anywhere. Anyway, to me it sounds like a no brainer to dump it and move on. You should be able to buy a brand new cherokee outright for under $30,000 and I would think that would be loaded. And if you didn't need a t.h. you can get a great cherokee for $25,000 or so right now straight out.
$45,000 for a Cherokee? Didn't know they got that high, but I'm a cheap guy so don't look too high on the tree I suppose. I didn't need or want a trailhawk, so never looked at them. We bought our 15 Latitude for around $25,000 straight out but they didn't have as many rebates as they have going now. Just got a new Journey for wifey and it was in the same range, but an offroader it isn't by any stretch, awd only. But now she won't let me drive it cause she now hates to drive the Cherokee after getting the Journey. And on the leases, I'm sure they work out for some and might even make sense for me, except I am at the age (read old) that I have had to make payments on everything I had for years that I just don't want to pay for the month for anything anymore. We paid $18,000 and some change for her 2011 Chrysler 200 when new and got about $10,000 for it on the journey, so you pay to drive new either way.
Stick with the present rig for the best bang for buck. And a JK will not be as refined for the family DD. Nor would the 4runner. Straight up, the TH is worthy of a 4-rated trail and beyond, other forum members have proven that up and down. That and the DD and driveability of the KL is also proven.
A 4runner TRD will be $$$ compared to what you've got on this thing. I highly doubt you could switch without losing $$.
If it makes you feel better, I'm paid off on my 2014 and it's been smooth sailing and clear skies ahead. I think it's a good choice. And I haven't had a tranny update like you have.
Thanks everyone for the input! After the crap service I've experienced with Jeep, I decided to turn my back on the brand. That said, my 2000 TJ Wrangler still drives like a champ and I'll stand by that vehicle firmly. Whatever has happened with the corporate direction at Jeep in the past decade leaves a lot to be desired. I get particularly aggravated with a company that doesn't value customer relationships. The lack of transparency on transmission problems and other issues I've had are unforgivable. I literally had to get into a 5 week stalemate re my erratic transmission (refusing to pick my vehicle up from the service dept) before the problem was properly diagnosed and resolved by replacement. Meanwhile, I had to find my own source of transportation - was never even offered a loaner! And I keep finding little things about the TH that indicate poor QA and workmanship. Even with the replacement transmission, I get delays in downshifts and 3 seconds to respond to quick accelerator inputs. The TH looks great on the surface, and it's an attractive vehicle, but I have serious concerns about longevity.
I found a deal on a new 2016 4Runner Trail that I couldn't refuse - so I took it. I know I'm sacrificing many perks I had with the TH such as comfortable seats, awesome entertainment system, remote start, mpg, and a smooth ride. Unfortunately there's no perfect vehicle, but all indications suggest that I can trust a Toyota. And it does what I (the driver) tell it to do - what a concept!
Service after the sale is everything. My Dealer would never treat me like that, and they don't stop until my issues are resolved. Rear seat squeak and sun roof bang are the only two issues I experienced in the past 8 months. Good luck with your Toyota.
It sounds like I'm late to the party, but I don't blame you. We are pretty die-hard Jeep fans (we even have a blog/website dedicated to the brand).... but there is a massive demographic they are missing that even we are looking to Toyota to fill. This said, I ordered my 4Runner over 4 months ago an I'm still waiting on it I knew it was made in Japan, but the lead time does have me concerned for any potential part needs.
The 4Runner seems like a dream SUV for overlanding and easy to moderate trails. Sure, the Wrangler can do this well, but the cargo storage and rear seat comfort is no where near that of the 4Runner.
As for resale and lease residual values, it's largely a product of supply and demand over anything else. Jeep has flooded the market with KLs and Toyota closely controls the number of 4Runners in the US. FWIW, FCA is now offering fleet plans that include the KL so this will only get worse.
I have read nightmare stories here and elsewhere about getting replacement parts for the Jeep Cherokee. Hopefully with the new Mopar Distribution center in Winchester, VA, this will be less of a problem than it has been, but I don't think you are likely to have more problems getting parts for a Toyota than for a Jeep.
I do think that the Japanese do a better job of convincing their owners that their vehicles are more reliable. People with Toyotas and Lexus vehicles blithely hand over $600, $700, $1,000 or more for mileage-based service that they don't understand, some of which is unnecessary, and the rest of which they are overpaying for. Afterwards, they are happy to say that their vehicle has been very reliable and has not cost them an excessive amount of money. Meanwhile, your local Jeep dealer contributes to the perception of unreliability, by they way many of them deal with their customers.
Honda and Toyota gained this reputation in an era where "creature comforts" first became popular. Almost all the domestic makes had power windows, power locks, A/C, and more. These were the things that often failed and were not present in most Honda or Toyota vehicles at the time. Even today they are not offered as options but you sort of get what-ever comes with that vehicles trim level.
I was once a part of a study on an ABS control module issue "manufacturer X" was having. These units were made in two factories, one being in the US and one in Japan. It was the US units that had issues. As part of the investigation the tolerances were inspected. All of the US units were in spec but varied throughout the spec in a critical area. The Japan made units were actually very close to being out of spec, but were darn near the exact same.
Where a I going with this? It's easy to have higher quality when you add consistency and remove variations in process and/or procedure.
To my earlier comment... early Hondas or Toys were rust balls though... they often mechanically outlasted the body and frame they were on.
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