Jeep Wrangler lease deals are one of the best Jeep financing options that will allow you to get behind the Wrangler with a low payment plan compared to buying one, this is because Jeep Wrangler lease deals offer you incentivized advantages such as low monthly payments, access to new Jeep Wrangler models, maintenance coverage through the Jeep Wave Program, and tax benefits among others.
The average lease on a Jeep Wrangler is $591/month for a 36 months lease, you should expect to pay $2,000 to $5,000 due at signing the lease, some of the miles per year limit options include 10k, 12k, 15k, and 18k, per year. The Annual percentage rates differ from 5.95% for 36 months lease to 7.994% for 48 months lease.
How much is a Jeep Wrangler?
We went looking for the best Jeep Wrangler lease deals offered by Jeep dealers in California, for starters we had to inquire about the MSRP of different Jeep Wranglers models, 2023 Jeep Wrangler MSRP prices start from $31,195 to $82,495. Summarized below are some of the quotes we got:
|Jeep Wrangler Model||MSRP|
|Rubicon 20th Anniversary||$82,495|
Although we got our MSRP from dealerships across California, we recommend starting your research at home by visiting platforms such as Kelley Blue Book, Edmunds, and TrueCar for the latest Jeep Wrangler prices, this will give you the knowledge to get a competitive edge for bargaining your lease before walking into the dealership to sign your Jeep Wrangler lease.
Is leasing a Jeep Wrangler a good idea?
Yes! Leasing a Jeep Wrangler is a good idea, most Jeep Wrangler buyers are attracted to Jeep Wrangler lease deals due to their low monthly payments, lower down payments, and the ability to get the latest Jeep Wrangler models with Jeep manufacturer warranty, and no hustler selling or trading their used Jeep.
However it’s important to note that there are limitations and restrictions regarding Jeep Wrangler leases, Mostly Jeep Wranglers are bought for off-roading, Overlanding, and Camping, however, due to the luxury models such as sports, they are also good for city driving, for these reasons, if you want to own a Jeep Wrangler for off-roading, Overlanding and Camping, you should know there are restrictions and limitations of customizing your Jeep Wrangler on the lease, adding aftermarket Jeep parts and accessories can void your Jeep warranty.
What’s the selling price on a Jeep Wrangler Lease?
What we noticed after visiting various Jeep dealerships is the varying lease selling prices offer that we got, the best-selling prices we got for a Jeep Wrangler were 10% off the MSRP, we have compiled the selling prices of various Jeep Wrangler models in the table below:
|Jeep Wrangler Model||MSRP||Selling Price (10% off MSRP)|
|Rubicon 20th Anniversary||$82,495||$74,245.50|
How to bargain for the lease of a Jeep Wrangler?
The first step towards bargaining a Jeep Wrangler lease is to understand the current MSRP by visiting sites such as Kelley Blue Book, Edmunds, and TrueCar, now that you have the current MSRP its time to pay a visit to different Jeep dealers to get a quote on their lease selling prices, the dealership will give you a quotation in terms of an invoice, and this is now your opportunity to negotiate from the invoice price.
If the Jeep Wrangler lease deal negotiations are not going your way, be prepared to try out different Jeep dealerships, we found out that Jeep dealers with a high lease term would call us with a better term to get us to sign the lease agreement.
On a final note, it’s also important to ask for discounts, Jeep dealerships offer various such as rebates and incentives which we will discuss further in this article.
What is the residual value of a leased Jeep Wrangler?
The Jeep Wrangler oozes personality, it’s fun to drive, not only does it have a modern vibe, but it’s also one of the unbeaten off-road SUVs, making it one of the most in-demand used SUVs, this means you will get higher residual valuation compared to lease residual value of its Jeep counterparts such as the Jeep Cherokee, Jeep Grand Cherokee, Jeep Gladiator, and other Jeeps models. We got various residual values on different Jeep Wranglers, but what caught our attention was that most quotes were quoted based on the duration of the lease, as we have highlighted in the table below:
Jeep Wrangler Model, MSRP, 36 months (62%), 39 months (60%), 42 months (59%), 48 Months (58%)
|Jeep Wrangler Model||MSRP||36 months|
(62% Residual Value)
(60% Residual Value)
(59% Residual Value)
(58% Residual Value)
|Rubicon 20th Anniversary||$82,495||$51,174.90||$49,497.00||$48,638.05||$47,876.10|
As you can see from the table above, we got the highest valuation of 62% on a short 36 months lease, compared to 60% on 39 months lease, 59% on 42 months lease, and 58% on 48 months lease. The residual valuation will impact your Jeep lease monthly, the higher the residual valuation the better for your Jeep Wrangler lease deal.
What is the money factor for a Jeep Wrangler?
The Jeep dealer will always quote an Annual Percentage Rate (APR), When talking with you regarding the interests rates, it’s important to pay close attention to the rates, as these rates are the determinant of your Jeep Wrangler lease money factor, the money factor is used to calculate your Jeep lease monthly payments and affects the monthly payments you are supposed to make for the Jeep Wrangler lease.
To calculate the money factor by hand, you will have to use the formula: Money Factor = APR / 2400.
Here is the average money factor that we got for different Jeep Wrangler models based on the duration of the Jeep Wrangler lease deals that we got:
Lease Duration APR Money Factor 36 months 5.95% 0.00248 39 months 6.91% 0.00288 42 months 7.94% 0.00331 48 months 8.21% 0.00342
Jeep Wrangler Lease Fees and Taxes.
When leasing a Jeep Wrangler, its also important to consider the fees and taxes associated with your Jeep Wrangler lease, and let me tell you these fees are hard to keep tabs on unless you are not careful and read through your lease agreement – it’s also important that these fees differ from state to state and also in dealerships.
When leasing a Jeep Wrangler its important to note the following incentives, fees, and taxes, we got lease acquisitions fees which ranged from $595 for 36 months to $895 for a 48 months lease, and we received $3,000 to $5,000 incentives depending on the Jeep model, and to be specific $7,500 PHEV incentives.
Other fees to be aware of include document fees (in California capped at $80), sales taxes, government taxes, and other add-ons that will be included in your lease.
What is the lease payment on a Jeep Wrangler?
So, what were the monthly payments quotes that we got for leasing a Jeep Wrangler?
The table provided below displays the monthly payment amounts for leasing different models of Jeep Wranglers.
We determined these payment amounts by gathering information from several Jeep dealerships in California, including the Jeep MSRP (as shown in the table), a selling price of 10% of the MSRP (which we discovered is commonly offered by various Jeep dealers), residual values of 62 for a 36 months lease, no trade-in value, and an annual interest rate of 5.95% over a 36-month lease term.
Lease Duration MSRP Lease Monthly Payments Freedom $31,195 $357.31/Month High Altitude $45,925 $530.69/Month High Tide $35,195 $407.12/Month Rubicon $47,495 $549.51/Month Rubicon 20th Anniversary $82,495 $951.89/Month Rubicon 392 $82,495 $951.89/Month Rubicon Farout $47,495 $549.51/Month Sahara $45,925 $530.69/Month Sahara Altitude $45,925 $530.69/Month Sport $31,195 $357.31/Month Sport Altitude $31,195 $357.31/Month Sport S $31,195 $357.31/Month Willys $31,195 $357.31/Month Willys Sport $31,195 $357.31/Month
The figures in the table are calculated by excluding trade-ins, incentives, and fees associated with a lease, because they fluctuate a lot base on one dealer to another, if you have the fees, incentives, and rebates, you can use our Jeep Wrangler Lease Calculator to calculate your custom lease payment.
Should you buy or lease a Jeep Wrangler?
The reality is leasing a Jeep Wrangler is a good option if you intend to keep the Jeep for a short period, if you intend to keep the Jeep Wrangler for an extended period, and maybe be able to customize your Jeep for off-roading, Overlanding, and Camping then buying a Jeep Wrangler will be your best option, this is because there are restriction on customizing a leased Jeep Wrangler, especially with aftermarket Jeep Parts and Jeep Accessories.
It’s also known that buying a Jeep Wrangler is always cheaper in the long run compared to leasing, depending on how long you intend to keep the Jeep.
Other factors such as the availability of funds, your lifestyle, and your desire to avoid expensive customization, and Jeep repairs, should determine factor whether you should buy or lease a Jeep Wrangler.
In the end, the decision to buy or lease a Jeep Wrangler will be determined by your financial situation, driving needs, and lifestyle, for us we would always recommend buying a Jeep Wrangler over leasing.