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Jeep’s August lease are, surprisingly, a little better than July’s. Inventory remains tight, particularly on the latest models like the Grand Cherokee, but there are real bargains to be had. Depending on the region, the automaker is offering significant bonus cash, particularly on the Gladiator pickup and the tiny Renegade. 

Leasing amounts vary considerably by region this month, but the Compass, Wrangler and Renegade top the list of affordable lease deals. 

0% financing is increasingly uncommon at most dealerships, but the Gladiator and Compass offer very good 0% options this month for well-qualified buyers willing to take a relatively short loan term. The other Jeeps no longer have 0% offers, but the Renegade can be found with 0.9% offers in some regions. Those low-interest deals still on offer also include cash allowances of up to $2,000 on Renegades and an amazing $4,500 on Gladiators.

Attractive lease rates of under $300 per month (and as little as $209) are available on select Compass, Cherokee and Renegades models this month, but Wrangler and Gladiator lease deals are less friendly this month than in July. Jeep is no longer offering any incentives on the carry-over Grand Cherokee WK.

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Methodology

Forbes Wheels scans ChromeData’s LenderDesk for the newest and best incentive and lease deals on a national basis, but also does independent research into local and regional market-based incentives. 

The offers presented may not be as low as special lease deals advertised on dealer and manufacturer websites, which typically don’t include taxes or fees, and may apply to stripped-down models that lack popular options. Adding desirable features or higher trims might raise or lower the price depending on the manufacturer’s offerings at the time of the deal. For example, our data showed that a monthly lease payment on a Grand Wagoneer Series III, Jeep’s fanciest and most expensive model, ran $1,983 per month.

Additionally, 0% or special financing offers depend on creditworthiness, and may not be accessible to all consumers.


FAQ

Are there good Jeep Deals in August?

Yes, and surprisingly some lease deal payments have dropped by about 8 to 10% from July. The Renegade regains its place as the most incentivized Jeep, with a 0.9% loan offer plus $1,250 bonus cash as well as offerings of $1,750 to $2,000 bonus cash in various regions and lease payments as low as $279 per month on a 36-month term. The Compass is offering some very low monthly payments, as little as $209 in some regions, though the amount due at signing has risen.

Lease offers on the larger Jeep models continue to cool but the automaker is offering a wide variety of bonus offers this month. As usual, accessing it means being in the right place at the right time and meeting the right circumstances, but in some regions, buyers can get a $4,500 cash allowance on Gladiators, $2,000 on Renegades, $1,500 on Compasses and $1,000 on Cherokees and (2022) Grand Cherokees. Wagoneers continue to have no real incentives, and there are no deals this month on the carry-over Grand Cherokee WK.

Is 0% Financing Available?

Yes, but the offers are more limited now than in the past few months. Most nationally-offered deals start at 5.11% a jump trom 4.65% last month, but 0% financing for qualified buyers (and they need to be very well qualified) is still available on the Compasses and Gladiators. On Compass models, 0% deals can only be had with a 36-month term, so the monthly payment will be hefty, but the 0% deal on the Gladiator is a 72-month term and likely to be very attractive.

Which Jeeps Have the Best Deals Right Now?

The Renegade remains available to purchase without significant markups and Jeep has returned to incentivizing it this month, including cash allowance offers and a 0.9% financing deal with a 60-month term and some bonus cash. The cash allowances and 0% deal on the Gladiator are both very attractive. Compass and Cherokee models are also offering attractive incentives. 

There are some new offers on the Wrangler 4xe, but they’re not exactly “great deals.” Federal EV tax credits are now in question, but the 4xe qualifies for the full $7,500 credit at present and will likely remain eligible, though income limits might cut back the incentive for some buyers, so now might be a good time to buy.

Renegade Trailawks (the most desirable and capable version of this tiny SUV) can be leased for as little as $404 per month and Compass and some Wrangler models can be had with monthly payments in the low $400 range. Wrangler deals are more limited than they were last month, but with 2023 Wrangler and Gladiator models due soon, they might improve in September.

The Grand Cherokee deals are also limited, but also include attractive leases and up to $1,000 in bonus cash from Chrysler Capital. 

What We Expect Next Month

With a further interest rate hike from the Federal Reserve very likely we expect loan and lease terms to be less friendly in September. This might be offset by dealers’ need to unload 2022 inventory as 2023 models come online, but there’s no guarantee there as supplies are already limited. Renegade, Compass and Gladiator are likely to remain the most incentivized models.

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