Cool. If it were me, I'd wait it out a bit and enjoy the rig. In a year or two look at it again, maybe you wind up selling it on the street, paying off the loan and buying new or maybe you hold on to it for longer. Maybe you wind up trading it in because the dollars have equalized some.

 

Yea, I mean I love the Jeep equally in the summer and winter because in my opinion it has the most utility for the price. But eventually I will get something that gets better gas mileage.

 

That balloon deal is good. Basically if you put a down payment you would have lost that money but most likely you would be able to cover the loan amount depending on how big of a down payment you made.

 

Jeeps hold their value.

Point: my 2007 2dr JK. bone stock-- just AC & CD player as options. It was $19,000 new (before taxes). I sold it 4 years later exactly, with 65,000 miles on it for $15,000. I only owed about $7000 on it.

So, that resale value usually holds for jeeps, about 69-75% at 4 years.

 

So you say ballon deals are good? Ah, soup nazi says no deal for you!!

The interest rate would be interesting to know.

 

I don't get it , I bought my jeep , payments are less than his , and it's paid for in 60 months.I won't owe 10 grand at that point. Is it because I put a down payment ?

 

How much did you put down?

 

Did you choose a balloon type loan (lease, really) or just to buy it with financing? If you just financed a standard purchase then you wouldn't have the large payment at the end of the term.