With the costs of a new Jeep Wrangler being so high leasing may look like a better option than buying, but is it really? How much does it cost to lease a Jeep Wrangler?
Leasing is something you need to go fully informed into. In this article, we will cover everything you need to know when it comes to leasing a Jeep.
- How much does it cost to lease a Jeep Wrangler?
- How leasing a car works
- What are you paying for?
- Important rules to be aware of when leasing
- Frequently Asked Questions
- Final thoughts on the cost of leasing a Jeep Wrangler
How much does it cost to lease a Jeep Wrangler?
Generally speaking, the leasing price of a Jeep Wrangler ranges from $345 to $660 per month (incl. $2,000 down payment) depending on the period and the mileage you are allowed to drive.
For a detailed comparison, the following table covers the general leasing prices of a Jeep Wrangler across various timeframes and mileage (with a $2,000 down payment):
|Miles↓ / Months→||24 months||36 months||48 months|
Compared to paying $832/month over 48 months for a loan on a Jeep Wrangler Sport S 4×4 leasing can seem like a really affordable alternative but there are caveats to the affordability.
How leasing a car works
Essentially, leasing is going into a long-term rental agreement with a leasing company. Unlike buying the vehicle, when you lease a car you do not own the vehicle, you only have permission to drive the set mileage and keep the vehicle in your possession for the given time frame.
Depending on what car you are leasing the prices may differ as well as the initial down payment (non-refundable deposit when picking up the car).
What are you paying for?
The monthly cost you are paying is the depreciation of the vehicle during the leasing period.
What is also included is the interest (finance charge) the leasing company charges you and if you choose to add taxes and fees to the amount borrowed you will also be paying that as well.
Added maintenance plans or insurance can also add to the leasing cost per month if these aren’t included as standard.
Important rules to be aware of when leasing
This is where it can get costly really quickly if you are not careful.
- Exceeding the allocated miles given to you per year will add mileage fees.
- You are liable for certain types of damage or wear.
- Ending a lease contract early will give you financial penalties.
- You cannot modify or change anything on the vehicle.
- Maintenance requirements and responsibilities you need to follow.
Frequently Asked Questions
Is it worth leasing a Jeep Wrangler?
If you do not plan on driving a lot and not offroading in such a manner that may cause damage to the Wrangler, then yes, it can be worthwhile leasing a Jeep Wrangler.
If you just want Jeep appeal and to drive around town, to and from work, and are looking for the latest model of Wrangler, then leasing can make more sense than buying.
On the other hand, if you are planning on using it as an adventure vehicle (as it was designed for) the chances of getting unwanted damage can cause extra costs when leasing.
These costs can quickly creep up to the costs of buying a Jeep Wrangler and just paying it off normally.
Keep in mind that part of the appeal of owning a Jeep is personalizing it, and most leasing companies will not allow any modifications done to their leased vehicles.
What is the cheapest Jeep to lease?
On an average lease payment, the Jeep Renegade is the cheapest Jeep to lease at $424/mo. This is on a 36-month 12,000-mile limit leasing contract with a $2,000 down payment (nonrefundable deposit).
The Jeep Renegade is the smallest of the Jeep lineup and is a subcompact SUV based on the Fiat 500X (which would interestingly enough cost approx. $535/mo to lease under similar conditions).
Do Jeep leases include maintenance?
Yes, normal maintenance is usually included in the lease price.
Other things like tires and body/paint damage are not included, but you can usually include it for an added price per month for extra reassurance.
Read the leasing contract for any shady small print around the maintenance and responsibilities of the lessee.
Should I put a down payment on a lease?
Yes, usually this will be anything from $2,000 and up depending on the vehicle.
Some companies will call these down payments, signing costs, or non-refundable deposits.
Keep in mind that the contract can stipulate that the leasing company has the right to keep said down payment once the contract has been signed. Even if you immediately decide to terminate the contract.
Make sure to read the fine print before signing any lease agreements.
Final thoughts on the cost of leasing a Jeep Wrangler
Leasing a Jeep will cost approximately $345 to $660 per month with a $2,000 non-refundable down payment. While this may sound affordable, it does come with many limitations that you need to be aware of, such as mileage restrictions, modifications, maintenance, etc.
It may not be for everyone, but if you are only planning on using it for short trips and want to enjoy owning the latest model of Wrangler, then leasing can be a great option.
As you can see, there are many things to consider before putting pen to paper, but we hope this article has shed some light on what you need to look out for when you’re next in the market for a Jeep Wrangler.