Leasing a Wrangler? Here’s What You Need to Know

(STL.News) So, you’re planning to get your hands on a Jeep Wrangler. Sweet.  This legendary master of the off-road experience is always a great get.  The ride is universally popular and has been for decades.

Now you must decide whether you’re going to buy or lease your Wrangler.  As it usually goes with these kinds of things, there are pluses and minuses either way.  It all kind of depends on your situation and how you plan to use your Wrangler.  Now, if it’s looking like you’re going to lease, then you should learn all the leasing ins and outs.  Here’s what you need to know about leasing a Jeep Wrangler.

What Exactly Does Leasing Entail?

While leasing has been around for ages, many people don’t have a clue about how the process works. Leasing a Wrangler — you’re basically renting the vehicle for up to four years — calls for your monthly payment to be calculated based on the ride’s depreciation cost.  The latter is the difference between the SUV’s existing value and its residual value, which is the vehicle’s value by the lease’s end.  This is in addition to interest and other fees.

There are several components of a typical lease agreement, including the first payment, lease duration, the vehicle’s current and residual value, term-end and termination fees, mileage caps, normal wear and tear conditions, fees related to excessive wear and tear, and missed-payment consequences.

Why Should I Lease?

The No. 1 reason is probably the lower monthly payments, followed by a lower down payment, compared with buying.  Plus, if you lease, you can ultimately get in all the newest Wrangler models. If being able to check out all the latest technology and creature comforts is important to you, leasing is the way to go.

Another upside to a Jeep Wrangler lease is the manufacturer warranty coverage, which, for the duration of your lease, will cover unexpected repairs.  That’s huge.  You also needn’t worry about selling or trading with leasing, exercises that many people dread.  When your lease ends, you’ll simply turn the Wrangler in and, if you want, sign on for the latest model.

What Should I Consider Before I Decide?

The amount of money you’ll shell out is important, but it isn’t everything.  There are other factors to consider, such as how much you’ll use your Jeep.  For instance, if your daily commute is long, or you envision a bunch of road trips, you may be better off buying, due to the mileage restrictions, which can cost you up to 30 cents for every mile over.

Another consideration is how much you plan to go off-road.  Hey, this is a Wrangler, right?  How can you not, not go off-road?  But if you’re leasing, you’ll want to be certain you turn the vehicle in good shape.  So maybe you won’t want to go off-road quite as often, or maybe just ease up a bit.

Also, think about how much you might want to modify your Wrangler.  If you’re in a lease contract, permanent modifications are prohibited.  Plus, you don’t want to mess around and void the Wrangler’s warranty.  However, some modifications are permitted if they can be easily undone at the lease’s end. Keep that in mind.

Now that you know what you need to know about leasing a Wrangler, take a hard look at your lifestyle, your plans for the Jeep Wrangler, and your financial situation, then make a final decision. What’s for certain is that there are always lease deals to be had, so you can’t lose there.  If you need more information on those specials, we suggest that you contact Chrysler today.

This News Leasing a Wrangler? Here’s What You Need to Know appeared first on STL.News.