2020 Jeep Gladiator Is Surprisingly Cheap to Lease Right Now
If you’re willing to stick with a base model Gladiator Sport, you can lease one right now for as little as $143 a month.
Typically, early adopters of brand new vehicle models are going to pay top dollar for the distinction of being one of the first people to own said model. And when you’re talking about a hotly anticipated vehicle like the 2020 Jeep Gladiator, that’s especially true. So you can imagine our surprise when we found out that leasing, not buying, a new Gladiator is incredibly cheap right now. And we have the deal gurus at Cars Direct to thank for discovering this little piece of pertinent information.
CD discovered some unadvertised incentive bulletins that show some unusually high residual values on the new Gladiator. So they headed to Jeep’s online configuration, where they found some pretty amazing deals, given the right circumstances. A base model Gladiator starts out at $35,040, including destination. On Jeep’s site, this calculates out to a $588 monthly finance payment, or an amazingly low $143 per month lease payment.
Cars Direct then ran their analysis to find out how Jeep is coming up with this astoundingly low number. And it turns out, it’s entirely feasible. Jeep is assuming that you put down 10 percent or $3,504. The money factor calculates out to 0.00205, or an APR of 4.92 percent. Finally, this is for a 10,000 mile per year lease with a term of 24 months.
Those factors drive the residual value of this deal all the way up to 89 percent. That’s one of the highest Cars Direct has ever seen. And it makes the Gladiator a screaming deal if you’re looking for a lower-mile, shorter-term lease. But there are a couple of caveats, of course.
These deals favor the cheaper Sport and hover closer to 77 percent for the higher-trimmed Rubicon and Overland. If you extend your lease out to 36 months, the Sport’s residual value drops to 83 percent. If you add in options like an automatic transmission and don’t put any money down, your payment more than doubles to $313 a month.
But if you’re willing to stick with a zero-option base model, you won’t find many deals like this. And if you’re looking for a regular JL Wrangler, now’s a great time to buy one of those, too.
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