Most Expensive Grand Cherokee L Lease Costs $1,000/mo

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Senior Pricing Analyst

As CarsDirect’s resident pricing analyst, Alex offers must-know analysis of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured in publications such as Car and Driver, Motor Trend, Automobile Magazine and Autoblog.

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, Senior Pricing Analyst - May 14, 2021

The most expensive version of the new Jeep Grand Cherokee L can cost shoppers more than $1,000/month, our analysis finds. At that point, the lease deal on this three-row SUV could cost shoppers almost as much as an $80,000 Cadillac Escalade.

According to Jeep's online payment calculator, the 2021 Grand Cherokee L Summit Reserve V8 can be leased from $841 for 36 months with $6,923 due at signing. That's based on 10,000 miles per year and an MSRP of $69,225.

That equates to an effective cost of $1,033/month. Just to help put that into perspective, that's almost as much as BMW's lease here in California on the X7 xDrive40i (MSRP $80,145), which has an effective cost of $1,136.

You could even upgrade to the Cadillac Escalade Premium Luxury (MSRP $84,290) at $1,019 with $4,809 at signing, or $1,153 based on a May dealer leasing guide. A Mercedes-Benz GLS450 (MSRP $77,050) comes out to $1,138.

While the Grand Cherokee L's residual values aren't great, the absence of a discount and a lease rate equivalent to around 4.9% APR makes it very expensive to lease. Even cheaper versions of the Grand Cherokee L can be pricey.

Jeep's lease example for the Laredo trim is listed at $429 with $4,143 at signing, or $544/month. That's $4 more than a Lexus RX 350 Premium here on the West Coast ($540). At that point, the L could be a questionable value when leased.

Explore All Top Jeep Leases & Deals »

, Senior Pricing Analyst

As CarsDirect’s resident pricing analyst, Alex offers must-know analysis of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured in publications such as Car and Driver, Motor Trend, Automobile Magazine and Autoblog.

Follow On: Twitter

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