Deciding if you should buy or lease a new Jeep Grand Cherokee is an important decision that depends on your financial situation, personal preferences, and priorities. While both finance options have their own pros and cons, we understand that everyone's situation is unique. Therefore we've decided to put together a list of Jeep Grand Cherokee lease and finance factors everyone should consider beforehand: 

  Benefits 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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Buy or Lease Jeep Grand Cherokee: Short-Term Investment vs. Long-Term Investment?

One of the biggest differences between buying vs. leasing a new Jeep Grand Cherokee is  is that the monthly payments are typically lower whenever you lease a new Jeep. Generally speaking, the monthly payments required for a new Jeep Grand Cherokee lease are typically lower because you only required to pay for the depreciation value of the vehicle instead of paying for the full purchase price of the vehicle. 

In addition to this, we should also highlight that the required down payment for a new Jeep Grand Cherokee lease is typically lower as well. As a result, this combination makes it more affordable for Chicago Jeep drivers to get behind the wheel of more upscale SUVS. 

However, unlike purchasing, at the end of your Jeep Grand Cherokee lease term, you must decide if you want to return the vehicle and upgrade, buy it out, or walk away. Financing a Jeep Grand Cherokee on the other hand entitles the driver to complete ownership of the vehicle at the end of the financing term. In light of this drivers will be able to retain equity or cash value from the vehicle. 

With this in mind, it all comes down to your preferences and priorities. If you're the kind of driver who prefers upgrading your vehicle every few years, leasing a new Jeep Grand Cherokee is a great choice. However, if you're the kind of driver seeking more equity in your vehicle, financing is a great choice.

 
 

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: Experience The Latest And Great Features

According to Moore's law, technology will become significantly faster, smaller, and more efficient every two years. From this point of view, new Jeep Grand Cherokee lease drivers can expect to receive the latest and greatest technology. Regardless if their signing up for a new lease or at the end of their current lease, new Jeep Grand Cherokee lease drivers can expect to receive the latest tech features. 

Financing a new Jeep Grand Cherokee on the other hand, limits drivers to their current vehicle. But for what it's worth, financing a new Jeep Grand Cherokee can help you save more money in the long-run and establish equity. 

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. 



 
All in all, buying or leasing a new Jeep Grand Cherokee is an excellent choice. With this in mind, it all comes down to your preferences. If you're looking for a new Jeep SUV with more value for less, we would encourage you to check out our new Jeep Grand Cherokee lease options. However, if you're looking to buy a new SUV that knows how to get around town, we recommend you speak with one of our Jeep finance experts. Nevertheless, if you're still looking for more information about leasing a new Jeep Grand Cherokee call or visit us today.