I am in the market for a Jeep Grand Cherokee Limited/Overland/Summit. I’d get a loaded limited if I go that route to get the tech package and dual-pane panoramic sunroof. However, it looks like Jeep got more aggressive on the 2023 models in stock, and offering 10% off MSRP on a limited, and 15% off the overland and summit which makes buying a base in one of those trims more enticing.
I have always liked to lease to not have to worry about owning the car, but I don’t have any affiliate rebates for a lease, and at 15% off, that would help offset depreciation in 36 months (which I’d lease for), contingent on the car market, I feel like I’d be able to sell and come out ahead of what it would cost to lease one for the same timeframe. I talked to a broker who told me it looks like you can finance through Ally Bank which should have a much lower rate than Chrysler Capital.
I attached some screenshots of the current offers on the Jeep site. Does anyone have any opinions/advice on this? Thanks in advance!
I just picked one up last month for $600 a month with NJ taxes with $600 at signing.
It doesn’t make sense to buy cause the MMR on the car is basically same as selling price with 15% so in 3 years if you decide to trade, it will be worth crap. Let Jeep take the hit
Gotcha. I park in the street with no access to plug in otherwise I’d think about leasing a 4xe because of the rebates. As it sits now though, the big rebate on gas only comes by purchasing. If I can finance through Ally for a reasonable rate, while getting 10-15% off MSRP, trying to decide if doing that makes sense and then just selling in 36-48 months. Have mixed feelings. Could come out ahead having a 10-15% discount, could go under water if the market flops in a few years.
You will not come out ahead on a Cherokee with a 15% discount.
Dealers/Auctions are already taking consideration into these numbers. My MSRP on overland is 76K but my trade in is the low 50s at local dealers and auctions after a week of ownership. You are better off leasing 4xe and never plug in and give it back after 2-3 years.
Depending on your driving habits and cost of electricity compared to gas, it could be a waste if youre not plugging in. I just hit 1,200 miles on the odometer and still have not put gas in my 4XE, which includes driving it from middle NJ to Long Island from the dealer on all gas, since I can do my commute to and from work on all electric. Have about a 1/4 tank left. And once my level 2 charger is installed, that will only get better. Really enjoying it so far.
Unlikely. The gas GCs these days tend to lease for a higher price than a comparable 4xe, and the fuel economy when not charging between the gas gc and the 4xe is fairly similar. If you don’t plug in, you basically are paying less to lease a GC with significantly more power.
Thanks for the response. I definitely won’t be able to plug it in at all, would be strictly on hybrid mode from the time I pick the car up until I turn it back in. If the MPG doesn’t take a hit driving with the empty battery, drive quality isn’t much different, and the lease savings is pretty substantial from the rebates then definitely worth a look into the 4xe.
Interesting. If it doesn’t need to be plugged in, gets a similar mpg, is more powerful than the gas version, and is much cheaper to lease, sounds foolish to go with gas.
