If you are a great fan of the Jeep Gladiator and can’t wait for the lease prices actually to drop, well, this going to look more like a nightmare for you. It is not dropping! Rather it just went up a bit higher than what it used to be a couple of months before.
When the 2020 Jeep Gladiator was first unveiled late last year, most auto lovers can’t help but express deep admiration for the ‘special truck’ and it became a popular choice for pick-up truck enthusiasts.
What Changed?
Earlier on, the Jeep’s online payment estimator listed the Gladiator Sport with a manual transmission at $196 for 36 months with 10% down. That means that the lease price for 2020 Gladiator Sport 4×4 goes for $276 for 36 months (10,000 miles a year) with $3,995 due at signing.
Unfortunately, about five months down the line, there has been a notable increment in the lease price of the Gladiator. Depending on the version, some versions of the 2020 Gladiator can be up to $50 per month more expensive than they were before.
According to the information made available by the company to dealers, the said increment was attributed to a 4 to 5 percent drop in residual values and a rate equivalent to 5.3 percent APR. This same Jeep Gladiator as of a couple of months ago, was way cheaper to lease than the Wrangler.
To say the less, Jeep seems to be on a mission to push its consumers to go for the pricier version of the Sport called the Sport S. the Sport S which was at $245 for 36 months with $4,259 at signing, with an effective cost of $363/month based on 10,000 miles a year, now goes for $319 for 36 months with signing at $4,939, summing up to a $456 per month effective cost.
Ultimately, the ‘special truck’ is now more costly to lease compared to the Wrangler Sport and the four-door version Wrangler Unlimited Sport, which goes for $401 and $412 per month, respectively. It is therefore clear to all that the Gladiator isn’t cheaper to lease than the similarly-optioned Wrangler anymore. However, you can get solace in the Compass Jeep and Grand Cherokee which still have a steady lease price.
Bottom Line
The question of whether the hike in lease price will slow down Gladiator buyers seems to have been given a thorough perusal. The answer, however, is that there’s a little chance that it will influence buyers’ decisions. The demand for the Jeep Gladiator is still at its peak. Albeit, the average transaction prices are steadily falling. The list price with dealers is still at over $40,000.
