So, you’ve decided to lease a Grand Cherokee. We don’t blame you. Over the years, the Jeep has retained its popularity as well as its value. But there are things you should know to get the best possible deal. In that light, here are questions to ask when leasing a Grand Cherokee.
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2022 Jeep Grand Cherokee
The midsize SUV got a total overhaul for this model year. In fact, it’s longer, wider, taller, and lighter than the model it replaces, and the interior is also improved. You get more standard safety features, better handling, and Uconnect 5 as standard. And the exterior styling can be described as ruggedly handsome.
Because Wrangler fans welcomed the 4xe, Jeep decided to add a plug-in hybrid model to its Grand Cherokee lineup.
What is Leasing?
When you’re leasing a vehicle, you’re basically entering into a long-term rental agreement for that car or truck. You do not own the vehicle, although you can ultimately buy it when the agreement ends.
Why Lease the Grand Cherokee?
Leasing rather buying permits you to get in a GC, enjoy it for some years, then turn it in or purchase it outright. What’s great here is that you get to benefit from everything you like about the vehicle with no concerns about depreciation.
Other advantages over buying include:
- Smaller monthly payments. For many, this is reason No. 1. You can expect lower payments because your only concerns about depreciation is during your lease term.
- Capped mileage. If you basically use your vehicle for everyday commuting in addition to regular errands, leasing may be a great fit. Why? Because annual mileage is usually limited to between 10,000 and 15,000 miles. In turn, this cap helps keep costs down.
- Option to buy. Once you’ve been in your GC for a few years and you’re dreading having to return it, never fear. You can buy the ride once your lease term’s over based on its residual value.
- Access to latest models. If you want, you can trade in your leased Grand Cherokee for the newest model every couple of years without worrying about trading or selling.
- Great value retention. Jeeps keep their value very well, and that will be true for your Grand Cherokee unless you crash it or don’t maintain it according to schedule. Proper maintenance keeps lease payments low and makes buying the vehicle after leasing a viable option.
Keep Your Eyes Peeled for Jeep Grand Cherokee Incentives
Jeep does regularly offer incentives, discounts to consumers that can include low APR financing, cash rebates, and, yes, special leases. Sometimes, such incentives go to certain demographics such as new college grads or members of the military. Check out these Jeep Grand Cherokee lease deals.
Questions to Ask When Leasing a Jeep Grand Cherokee
Before you sign on the proverbial dotted line, there are some questions you should pose. To wit:
- What’s the early termination fee? There may be such a fee, and if so, you should know what it is, and whether that changes the closer you get to your lease’s end.
- What are the mileage restrictions? While 10,000 to 12,000 is the norm for most Grand Cherokee leases, don’t assume that that is the case for your SUV, because there are exceptions.
- Is the leasing agreement open or closed? You have more wiggle room with open agreements, in terms of end of lease expenses. For example, there may be rebates in exchange for possible increased fees and fines. On the other hand, closed leases mean the amount is set. The only thing that will change it is if you breach terms and are assessed a fee. Still, you’ll not be offered a rebate on costs.
If you ask these questions when leasing a Jeep Grand Cherokee, you’ll stand a better chance of getting an agreement that works for you. It also never hurts to check out the latest Grand Cherokee lease deals.
