The Jeep Wrangler is, frankly, one of the most recognizable vehicles on the road. Its beloved boxy design, its penchant for letting drivers and passengers alike feel the breeze and sunshine on their skin and its notable off-road capabilities have put it on a permanent pedestal. For these reasons, many drivers have the goal of getting behind the wheel of their very own Wrangler. Leasing a Jeep Wrangler –
You already know you want to start living the Wrangler life, whether you?re updating your previous model or joining the Jeep club for the first time. The next question is: Should you lease or buy?
Here?s more on when leasing a Jeep Wrangler may be the way to go, as well as when buying a Jeep Wrangler may make more sense for your needs.
When to Consider Leasing a Jeep Wrangler
Leasing a vehicle is more like renting than buying in that you?re only paying for the amount of time you actually use a vehicle rather than the entire value with depreciation. There are upsides and downsides to this approach.
If one or more of the following statements applies to you, getting a Jeep Wrangler lease may be the way to go.
If you don?t have a large down payment ready
While some leases require a down payment, it doesn?t make as much sense to put down a large down payment on a lease like it does a purchase unless you?re positive you?re planning to buy out the lease at the end.
Drivers who want or need a new vehicle but aren?t realistically able to come up with 10 percent (or more) of a Wrangler?s purchase price may find leasing more in line with their budget.
If you want lower monthly payments
Leases tend to bring about lower monthly payments. Again, this makes it feasible for drivers to get behind the wheel of a new Wrangler without having to handle monthly payments based on the total cost of the car. Rather, the monthly payments will be based on how much the SUV?s value depreciates during the given time frame outlined in the contract ??typically two to four years.
If you want to update your vehicle every few years
Find yourself getting the itch to update your Jeep every few years? Leasing is designed to do just that.
When Buying a Jeep Wrangler May Be Wiser
There?s a strong case for buying a Jeep Wrangler if one or more of the following statements describes your situation.
If you have a down payment
Do you have a down payment saved up? Buying will allow you to use this down payment to reduce your monthly costs and keep your loan length reasonable. Experts recommend sticking with five years or shorter whenever possible.
If you want to make major modifications to your Wrangler
Let?s be honest: One of the most exciting and unique parts of driving a Wrangler is tricking it out to your exact tastes. Buying allows you to customize your vehicle to your heart?s content, whether you want to change up the roof style or add off-road extras. As one writer points out for Auto Influence, certain modifications can even boost the value of your vehicle.
If you want to own your vehicle for years
Are you looking for a longer-term relationship with whichever Wrangler you choose? Buying will allow you to work toward owning your vehicle outright. After you?ve repaid your loan in full, you?re free to do whatever you want ??like keep on driving it for as long as it?ll last or selling it.
Ultimately, whether or not leasing a Jeep Wrangler is a good idea depends on your financial realities as well as your vision for what driving it will look like.
