The Wrangler 4XE is the best lease deal on the market
Jeep has been very aggressive in its discounting of Sport and Sahara trims of the Wrangler to start the year, and we are seeing lease deals as low as $260/month before taxes for cars with MSRPs in the $55,000 and up range. This is a great opportunity to take advantage of incentives and federal rebates to get a great deal on a Wrangler lease
Sample lease deals offered by a broker
Background on the Jeep Wrangler
The current generation Wrangler came out in 2017 and is known as the JL. The main trims offered for sale are Sport, Sahara, and Rubicon, with some limited edition models like Willy’s and High Altitude also available. The Rubicon is the top of the line, with MSRPs going as high as $79,000 for a car with all the options. The Sport and Sahara trims offer more reasonable pricing with non-electric versions starting at $32,000 and the plug-in versions starting at $50,000.
Current lease deals on Wrangler 4XE
Sales of Jeep models decreased last year, and it seems like Jeep is trying to improve their figures. Currently there are dealers and lease brokers advertising aggressive discounts on Jeep vehicles, especially plug in models. Typically a “good” lease deal is paying 1% of the MSRP per month, but now we are seeing payments as low as 0.5% per month. A lot of this is because it seems dealers are offering up to 12% off MSRP on new models in addition to the $7,500 federal tax credit (which is now taken directly at the dealer) and also some incentives from Jeep which can add up to another $7000 worth of savings. Combined you can save $20,000 off the price of the car when negotiating, creating very attractive lease offers.
Another broker advertising a lease deal
Will these lease deals last?
For the past year, leasing a Jeep 4XE has been an extremely attractive deal, so I think the value will continue to be there. Jeep might lower their incentives, which can lead to the monthly payments going up, but the car will still have strong residual value and the $7,500 credit will remain in place to give you a significant lease payment discount. I don't foresee the market changing until at least June of this year.
Are there deals for other Jeep models?
Yes, other Jeep models are also offering discounts of 10-15% off MSRP so you can find a lease around the 1% sweet spot. However, one part that makes the Wrangler stand out is its strong residual value. A Wrangler is expected to keep 67% of its value at lease end, vs a Grand Cherokee is only at 50% - which will inherently lead to a higher lease price on similar priced vehicles. Grand Cherokee 4XE models are also eligible for the federal tax credit so we are seeing cars with MSRPs of $75,000 advertised to lease for right around $650/month.