Jeep Grand Cherokee: Lease or Buy?

The Jeep Grand Cherokee is one of the most recognized SUVs on the road today. After decades of excellence, it makes sense why people want to get into these vehicles. But which method will help you get into a Jeep Grand Cherokee: lease or buy?

Reasons to Lease a Jeep Grand Cherokee

Leasing a vehicle can often be the best way for individuals to get behind the wheel of their car of choice. If you’re set on a Jeep Grand Cherokee, a lease might be your winning ticket. These are a few reasons why you should consider leasing a Jeep Grand Cherokee:

  • The monthly payments are lower – While there are definitely advantages to owning your vehicle, leasing it much better on the pocketbook in the near term. If you don’t have the funds to make a down payment and substantial monthly payments, buying a new car might not be in store for you. Leasing can get you into a new vehicle without you having to pay new vehicle prices. The prospect of this can be highly appealing for a premium SUV like the Jeep Grand Cherokee.
  • You can stay in a new car all the time – If you’re someone who likes to always have the newest and most updated things, leasing might be the right move for your next vehicle. When you lease instead of buy, you’re able to continually upgrade to the newest model year every time your lease expires.
  • You can’t afford to buy a Grand Cherokee outright – It’s no secret that new vehicles have been getting more expensive. As one of the pricier options in the Jeep lineup, not everyone is going to be able to afford to buy a Grand Cherokee. When you lease, though, the cost picture takes on a whole new dynamic. If you’re totally set on a Jeep Grand Cherokee but can’t buy one outright, you’re much more likely to be able to get into one with a lease. Looking for the best Jeep Grand Cherokee lease deals can help you land the absolute best offer.

As you can see, there are some compelling reasons why it might make sense for you to lease a Jeep Grand Cherokee. At the same time, buying a car has its advantages as well. We’ll investigate these in the next section.

Reasons to Buy a Jeep Grand Cherokee

While you might be ready to jump at the next Grand Cherokee lease you see after seeing some of the perks, you might want to step back to see if buying makes more sense for you. These are some of the top reasons to buy a Jeep Grand Cherokee instead of leasing one:

  • You only build equity when you own – While leasing a vehicle will cost you less in the near term, you’re not building equity or ownership over an asset. Some people will be okay with this, especially due to the fact that cars—especially new ones—depreciate over time. However, well-maintained vehicles can hold their value and result in better long-term financial results for many owners.
  • Your lease might be limiting – You always want to read the fine print on any vehicle lease. Most will come with stipulations about how much you’re allowed to drive the vehicle over. If you go over the allotment, it can lead to you paying some heavy fees. If you’re a heavy driver, leasing could end up costing you.
  • You can’t heavily customize your leased vehicle – One of the fun parts of owning a Jeep is making it truly your own. Mods and customizations, however, aren’t kosher with most leased vehicles. The dealership will want you to bring back the car in the same condition they gave it to you. This means no changes.

Ultimately, you’re the one who has to decide if buying or leasing a Jeep Grand Cherokee makes more sense. Each person’s needs and finances are different, so knowing where you truly stand will help you make the optimal choice.