+1, I leased my Cherokee Limited II. You usually can make money on a Jeep lease as Jeeps hold their value so well. Most times a Jeep will be worth more than the buy out at the end of the lease.
Purchase or lease?
Just found this site! Awesome.
I'm seriously considering the Cherokee TrailHawk in Q1/Q2 of 2014 (and replace my trusty 2004 Mazda3..which has started to burn oil) but sad to see how much my Cherokee TH config is...at least 36K.
My previous cars have always been purchased (but were around 20K each), but with this model approaching 36K, the payments per month are unsettling.
How many of you have leased vs. purchased the Cherokee?
Thanks for you input...
I'm seriously considering the Cherokee TrailHawk in Q1/Q2 of 2014 (and replace my trusty 2004 Mazda3..which has started to burn oil) but sad to see how much my Cherokee TH config is...at least 36K.
My previous cars have always been purchased (but were around 20K each), but with this model approaching 36K, the payments per month are unsettling.
How many of you have leased vs. purchased the Cherokee?
Thanks for you input...
1 - 16 of 16 Posts
Great - thanks macfan!
Depends what your goal is, how much you drive a year, how long you intend to keep the car. Check your numbers. Check finance numbers if you'd need a loan. A cash buy outright is nearly always cheapest for a long term hold if the long run doesn't include mega repair bills, something no one can foresee. One size fits all does not exist, your own particulars play a role.
Gotta go to a Vet appointment but I will see if I can roust up a website for you later.
Gotta go to a Vet appointment but I will see if I can roust up a website for you later.
Also, see how much the Jeep will really cost. We originally thought it would be too expensive with the options we wanted, but then I went the online route and got quotes from a bunch of local dealers. Ours ended up being about $3000 below sticker. Which brought it back into an acceptable range for us. Take a look at this thread (towards the end for more accurate pricing): http://jeepcherokeeclub.com/6-cherokee-purchasing-orders/545-pricing-real-pricing.html
And on a related note, I've also got an '04 Mazda 3. Knock on wood - it's still running great.
And on a related note, I've also got an '04 Mazda 3. Knock on wood - it's still running great.
Great - thanks for the feeback. I plan to leverage my company's "Chrysler affiliate" program (1% below factory invoice) so that would help a bit I'd think - either way I choose.
I'm leaning more toward leasing (with 15K to be very safe) due to:
1) My first SUV/CUV; always had small cars (Escort GT; Focus; Mazda3) so this would be a step up (literally too). Not sure if I will like it? Leasing gives me an option to get out after my trial run.
2) Reliability; being a new product, with several delays, I'm concerned over visits to the dealer. My 2000 Focus was HORRIBLE with unexpected issues and recalls. While all cars/trucks will have their problems, I've been spoiled with my 2004 Mazda3...*knock on wood* I would think a lease gives me a good option of getting out if it turns out to be a Focus.
3) Cheaper payment short term...
But with those perceived positives:
1) I'd feel confined to mileage (even with the 15K I'd selected).
2) No trade-in leverage at the time the lease is complete (not that my 2004 Mazda3 has much trade-in value left! ha).
3) Won't have the vehicle "free and clear" after lease is up.
Again, thanks for the reponses; hopefully "airing" out my concerns, thoughts and reading yours will help give me some direction.
As for me...time to head out for an oil change on my Mazda3, in fact....
I'm leaning more toward leasing (with 15K to be very safe) due to:
1) My first SUV/CUV; always had small cars (Escort GT; Focus; Mazda3) so this would be a step up (literally too). Not sure if I will like it? Leasing gives me an option to get out after my trial run.
2) Reliability; being a new product, with several delays, I'm concerned over visits to the dealer. My 2000 Focus was HORRIBLE with unexpected issues and recalls. While all cars/trucks will have their problems, I've been spoiled with my 2004 Mazda3...*knock on wood* I would think a lease gives me a good option of getting out if it turns out to be a Focus.
3) Cheaper payment short term...
But with those perceived positives:
1) I'd feel confined to mileage (even with the 15K I'd selected).
2) No trade-in leverage at the time the lease is complete (not that my 2004 Mazda3 has much trade-in value left! ha).
3) Won't have the vehicle "free and clear" after lease is up.
Again, thanks for the reponses; hopefully "airing" out my concerns, thoughts and reading yours will help give me some direction.
As for me...time to head out for an oil change on my Mazda3, in fact....
Unless you can legally deduct lease payments on your taxes, you'll be paying far more to lease than buying/financing. (Lease companies aren't stupid!--Smart like a fox!)
Again, that depends on your situation but not an outright given.Unless you can legally deduct lease payments on your taxes, you'll be paying far more to lease than buying/financing. (Lease companies aren't stupid!--Smart like a fox!)
Purchasing is the only option in Canada
Used to be but not any more. Canadians can lease now.Purchasing is the only option in Canada
There are lots of calculators on the internet that allow you to input your numbers and compare to see what option is best for you. Google and ye shall find.
I leased mine. I don't put many miles on a year, and I get bored of vehicles quickly. I also was a bit apprehensive about reliability on a new vehicle, engine and transmission.
True, but the lease rate is a joke! I asked my dealer when I ordered my 14 RAM and he nearly fell off his chair when I suggested it, lolPurchasing is the only option in Canada
My lease rate was .00069. I think that works out to like having a 1.65% loan with a balloon payment due in 3 years. I could have gotten a 60 month 2% loan to buy but I don't seem to keep cars very long and the Cherokee has no track record reliability wise. Not to mention the sales tax I would be out if I get rid of the car in a year or two.
Yes - I've hit most of the calculators, but I was curious who has leased vs. who has purchased. There are certainly some pitfalls with leasing - and since I have a tendancy to keep what I purchase for long periods, purchasing looks like the better idea long term.
put 2k down with $390 per month for a 39 month lease. It is a limited v6 which kind of put it over 360-370 but it is a **** good v6....and came with all the bells and whistles minus the moon roof. I have to say that the interiors and instruments are so much more refined than the last 4 cars we have leased. With 53% residual, I bet we can make some money at lease end from carmax.
1 - 16 of 16 Posts
- This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
2014+ Jeep Cherokee Forums
A forum community dedicated to Jeep Cherokee owners and enthusiasts. Come join the discussion about performance, lift kits, 4 wheel drive, modifications, reviews, warranty, troubleshooting, maintenance, and more!
Full Forum Listing
Top Contributors this Month
View All
Gary Kline
236 Replies
Flybynightcru
185 Replies
Mark_
161 Replies
