The $76 Jeep Wrangler lease is authentic, but the $5,000 initial cost is also a reality. | Carscoops

      A seemingly attractive monthly lease for the Wrangler 4xe appears affordable until the fine details reveal the true expense.

      Jeep promotes a lease for the Wrangler 4xe at $76, but it necessitates a significant down payment.

      The low monthly payment is only valid for a 24-month term with a maximum of 5,000 miles annually.

      The total expense amounts to nearly $7,200, not including taxes, fees, and dealer add-ons.

      Since its 2021 launch, the Jeep Wrangler 4xe has been marketed as a major hit, frequently recognized as one of the top-selling plug-in hybrids in the US. On the surface, Jeep suggests you can drive one for as little as $76 per month. However, anyone who has examined the fine print of a lease understands that if an offer seems suspiciously low, there’s often a catch involved.

      That eye-catching monthly payment is prominently displayed on Jeep’s website. In specific states, such as California, the base Wrangler Sport S 4xe showcases an incredibly low lease price of $76 per month for 24 months. This is alluring, no doubt. However, what isn’t highlighted is the required down payment of $5,269 to access that rate, an amount that surpasses 10 percent of the vehicle’s MSRP.

      Analyzing the Fine Print

      This down payment significantly alters the overall cost. Adding this amount to the $76 monthly fee totals $7,169 over the 24-month period, which translates to approximately $298 per month. As noted by Cars Direct, this figure does not account for taxes, fees, and dealer options, meaning buyers could end up paying closer to $340 monthly.

      Additionally, there’s the mileage restriction, as this particular lease permits only 5,000 miles per year, which could be limiting for many drivers.

      This strategy isn’t uncommon. Automakers and dealerships often highlight appealing monthly rates, counterbalanced by substantial upfront payments. Besides misrepresenting the perceived lease cost, any down payment poses a risk. If the vehicle is damaged beyond repair during the lease, even shortly after driving it home, that upfront payment is lost.

      Additional Incentives, Limited Options

      One reason Jeep is able to advertise such an attractive rate is due to incentives. It includes $8,550 in national lease cash alongside the $7,500 federal EV lease incentive available until the end of this month. Customers on the West Coast can also qualify for an additional $2,000 in Lease Bonus Cash. Those already leasing a Stellantis vehicle may qualify for a $500 loyalty bonus.

      The cost of the Wrangler 4xe lease increases if you require more than 5,000 miles annually. Extending the lease term to 36 months and the annual mileage allowance to 10,000 results in a monthly payment of $214, still excluding the down payment.

      It’s also relevant to mention that these lease offers are specific to certain regions. For example, entering a Massachusetts ZIP code into Jeep’s configurator raises the $76 California lease to $163 per month for 24 months with a 5,000-mile limit. Choosing a more practical 36-month term with 10,000 miles annually results in a payment of $274, still requiring the same $5,269 down payment in both scenarios.