Quick Answer: 
Choosing between buying or lease  a new Jeep Grand Cherokee is a always a tough choice. Leasing a new Jeep Grand Cherokee is the best option if you're looking for a lower monthly payment, like driving a new model every two or three years, and drive less than 12,000 - 15,000 miles annually. Financing a new Jeep Grand Cherokee with an auto loan is the practical choice for drivers planning to customize their vehicle, drive more than 15,000 miles and looking to keep their vehicle for next 5-7 years. With this in mind it all comes down to your lifestyle and budget. Browse below to compare the pros and cons of buying or leasing a new Jeep Grand Cherokee. 


Jeep Grand Cherokee Lease Vs Financing: Pros & Cons 

 Category  Leasing  Buying 
 Monthly Payments  Monthly payments for Jeep Grand Cherokee lease are typically lower because your essentially paying for the deprecation of the vehicle during the lease term. Monthly payment for financing a new Jeep Grand Cherokee are typically higher because drivers are paying the total cost of vehicle purchase which uusally spread over a longer period time.
 Down Payment  Down payments for leasing a Jeep Grand Cherokee are typically lower.  Down payments for financing a Jeep Grand Cherokee are typically higher. 
 Warranty Coverage  Lease terms are typically shorter than the vehicle warranty expiration date. As a result Jeep Grand Cherokee lease drivers can drive confidently knowing they're vehicle is covered under warranty.  Finance terms typically exceed the warranty expiration. As a result Jeep Grand Cherokee finance buyers are responsible for all maintenance fees and repairs at the end of the warranty. 
 End of Term Return  At the end of your Jeep Grand Cherokee lease we give drivers the option to return their vehicle and upgrade to a new Jeep Grand Cherokee, return their lease vehicle and walk away or purchase their lease vehicle. No hassles.  Once you pay off your Jeep Grand Cherokee finance loan you are responsible for your vehicle. You have the choice of keeping your vehicle, selling it, trading it in. 
 Ownership  Drivers are required to return their Jeep Grand Cherokee lease at the end of their lease term.  Driver own their Jeep Grand Cherokee at the end of their finance loan.(all loan payments must be completed)  
 Customization  Drivers must return the vehicle in the same condition that they received it in. All customizations must be removed at lease-end.  Drivers can customize their Jeep Grand Cherokee as they choose. 
 Mileage Jeep Grand Cherokee lease mileage terms typically between 10,000 miles and 15,000 miles.  Jeep Grand Cherokee finance mileage terms are typically unlimited. 
   


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Jeep Grand Cherokee Leasing vs Buying: Which Option Is The Most Affordable? 

Leasing a new Jeep Grand Cherokee is the best option in comparison for reducing your monthly payments. Jeep lease monthly payments are typically lower because they're based on the agreed value between the driver and dealer for using the vehicle.

Financing a new Jeep Grand Cherokee is more practical for drivers looking to own their vehicle at the end of their finance terms. The monthly payments associated with Jeep financing are typically higher because the monthly payments are based on the overall principle value of the vehicle. 

In conclusion: Ultimately if you're not planning  to invest alot of money into vehicle but you still want to drive the top tier model, we'd encourage you to take a second look at leasing a new Jeep Grand Cherokee. However if you're more focused on maintaining your equity in a vehicle, you should consider financing a new Jeep Gran Cherokee. 

Winner: Leasing a new Jeep Grand Cherokee is the best option for qualified drivers looking to maximize their budget.

Jeep Grand Cherokee Lease vs Buying: Which Options Requires The Least Commitment

If you're planning to upgrade your vehicle in 2-3 years, leasing a new Jeep Grand Cherokee is a the most sensible choice in this comparison. Jeep Grand Cherokee lease terms typically extend 24-36 months, while finance terms typically extend 60 to 84 months. 

One of the key benefits associated the terms of leasing a new Jeep Grand Cherokee is that drivers can take advantage of the latest tech, entertainment and safety features. 

Peak vehicle reliability and safety is another key advantage of leasing a new Jeep Grand Cherokee for 24-36 months. In addition this drastically reduces the risk of breakdowns, and tech dysfunctions. At the same time, Jeep Grand Cherokee leases typically offers a strong warranty package which includes a 5-year/60,000 mile Powertrain Warranty and a 3-year/36,000 mile new Bumper to Bumper Warranty. 

Last but not least, Jeep Grand Cherokee leases typically require less commitment than financing a new Jeep. In essence this is crucial because life can change fast, and leasing a new Jeep gives you the flexibility to adapt to major life shifts like your family growing , market changes, or job placement. 

Conclusion: If you prefer driving the latest vehicles every 2-3 years, leasing a new Jeep Grand Cherokee is the is an excellent choice. Not only do you get to enjoy the latest and great features, but you also get to drive with the confidence of Jeep's standard Bumper to Bumper and Powertrain Warranty. 

Winner: Leasing a new Jeep Grand Cherokee requires the least commitment. 

Buy Or Lease Jeep Grand Cherokee: Cost of Upkeep?

One of the advantages of driving a new Jeep Grand Cherokee lease is that your vehicle is covered under the manufacturer warranty during the terms of your lease. All Jeep vehicles comes standard with a 5-year/60,000 mile limited time powertrain warranty and a 3-year/36,000 mile new vehicle warranty. 

Broadly speaking, lease terms often end before factory warranties expire. Lease terms are typically 24 to 36 months. In addition to that, Jeep stays that the customer is not responsible for normal wear and tear of the vehicle. 

Purchasing a new Jeep Grand Cherokee on the other hand makes the driver responsible for all maintenance  and wear tear at the end of your auto loan. 


Buy Or Lease Jeep Grand Cherokee: Mileage? 

Determining your annual mileage is an important decision when leasing a new Jeep Grand Cherokee. According to Jeep, the maximum mileage allowed is the 80,000 miles, and 20,000 annual miles. Excess mileage fees will apply to drivers who exceed the agreed upon mileage terms. These charges will be applied to the customer's vehicle return invoice, and are billed to the customer upon the return of the vehicle. 

Finance a new Jeep Grand Cherokee on the other hand, grants drivers the freedom they need to get up and go. In short, drivers are not expected to pay additional fees if they exceed their mileage terms. 

Buy or lease Jeep grand Cherokee: End of Term

Chances are, if you're considering buying or lease a new Jeep Grand Cherokee, you're interest in the end of the term. Ultimately, what options do you at the end of your finance and lease terms. 

For starters at Napleton River Oaks CDJR, we give  drivers the end of lease option of : 
  • Returning the vehicle and upgrading 
  • Buying lease out 
  • Walking away from the lease
Of course, if you choose to finance a new Jeep Grand Cherokee for sale near you, you'll have the option of: 
  • Keeping your vehicle, 
  • Selling your vehicle to a dealership or private buyer
  • Trading-in your Jeep Grand Cherokee and receiving the true-value of the SUV. 



Jeep Grand Cherokee Lease vs Buy: Final Decision

After taking a close look at buying vs leasing a new Jeep Grand Cherokee,  we  believe it all comes down to  your preferences and priorities.  Therefore, if you're looking for the best way to maximize your budget without compromising the things that you love most, you should consider leasing a new Jeep Grand Cherokee. However, if you're looking to own your vehicle at the end of the finance terms, you should consider financing a new Jeep Grand Cherokee. Financing a new Jeep Grand Cherokee enables drivers to own the vehicle at the end of the term.

For information about leasing or financing a new Jeep Grand Cherokee, call, apply online, visit us at 17225 Torrance Avenue, Lansing , IL  and let us help you find the best finance option for you. 


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