Leasing vs Buying a Jeep Grand Cherokee

So, after much deliberation, you’ve circled back to what you really want: a Jeep Grand Cherokee. We don’t blame you. After all, the ride has racked up more awards than any SUV out there. So, you really can’t go wrong. But there’s still another big decision you must make, namely, whether to lease or buy. Well, on that front, keep reading for things to consider.

About the Jeep Grand Cherokee

Let’s start there. For 2022, the Jeep Grand Cherokee is totally redesigned.  Still, handling is composed, the ride is smooth and comfortable on most terrains, and this is one of the primo off-roaders in the segment. You also get a spacious, top-notch interior with classy touches, an intuitive infotainment system, plus seats you don’t mind spending time in.

What about the powertrain, you ask? That’s been revamped as well. Here, Jeep premiers a 375-horsepower plug-in hybrid powertrain with the Grand Cherokee 4xe trim. The manufacturer did deep-six the 6.4-liter and supercharged 6.2-liter V8s and tweak the V6 and 5.7-liter V8 powerplants, though. Good moves.

You also get loads of features that are now standard, including forward-collision warning, adaptive cruise control, forward automatic emergency braking, a bigger touch screen, lane keep assist and lane departure warning. With a starting sticker price of $37,785, though, the Jeep Grand Cherokee is not cheap.

Things to Consider About Leasing a Jeep Grand Cherokee

If you go with one of the Jeep Grand Cherokee lease deals, you can pick one of these sweet rides up, tool around in it for some years, then either return it or buy it outright. The best thing about this setup is that you get to take advantage of everything cool about the vehicle – the list is long – without getting hit with depreciation.

Here’s what you can expect if you’re going the lease route:

Lower monthly payments: Because the only time you must deal with depreciation is during your lease term, you can expect lower payments through leasing. For many, that’s the bottom line – literally.

Mileage considerations: Will you use the ride for daily work commutes plus your usual errand runs? If that’s you, you’re a good lease candidate, since annual mileage is typically capped at between 10,000 and 15,000 miles. More than that, then you’re looking at overage fees. What you can do, especially if you want to take some roads trips in the new Grand Cherokee, is see if you can loosen up the mileage restriction before signing the dotted line.

Option to buy: Yep, the great news is that, once you’ve been in the Grand Cherokee for a couple of years and now it’s time to return it, you can purchase the vehicle based on its residual value.

Things to Consider About Buying a Jeep Grand Cherokee

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Like anything else, there are pros and cons to buying the Grand Cherokee. Here’s what you can expect:

  • You do own the vehicle: Yep, the ride is yours once you’re done paying it off. And if you keep driving it – it’s nice knowing you won’t have any payments. However, you must factor in repair costs. You don’t have to worry about this with a lease.
  • You can choose what to do about maintenance and custom work: While leases often dictate how you handle these two items when the ride is yours, all that’s up to you. Just remember that if anything goes awry, you don’t have the power of the lease to back you up.

Whether you lease or buy, you’re going to get ample bang for your buck with this Jeep. It really all comes down to how much you expect to drive, whether you’re good with keeping the vehicle and not having a monthly note, and whether you’re willing to absorb the costs of repairs, which inevitably will be needed.