Looking to Get Into a Jeep Gladiator on the Cheap? Keep an Eye on Lease Offers
The Jeep Gladiator, a vehicle seven-slot aficionados spent decades begging for, is now on sale, offering buyers a pickup, sedan, off-roader, and convertible, all wrapped in one unmistakable vehicle.
This being a truck, prices naturally range from somewhat reasonable ($35,040 after destination for a base Sport) to exorbitant, but those not looking for a long-term commitment might find that leasing a Gladiator will give them — by far — the best bang for their buck. Thank sky-high residual values.
The pricing gurus at CarsDirect claim the Gladiator brings exceptionally high residuals to the table, especially on the Sport model. Right now, a 24-month lease offered on the base model (3.6-liter V6, six-speed manual, soft top) reveals a residual value of 89 percent — “one of the highest we’ve ever seen on any vehicle.”
Jeep’s Wrangler, upon which the Gladiator is based, is famous for holding its value over time. In base form and with a short lease, the Gladiator’s residual beats out the Toyota Tacoma SR Double Cab’s 86-percent figure.
After a downpayment of $3,504, this bargain basement Gladiator can be leased for $143 a month, but only if you’re willing to keep your mileage below 10,000 miles per year (the Tacoma allows 12,000). The money factor on this lease works out to a 4.92 percent APR.
Spring for a longer term or opt for the $2,000 eight-speed automatic transmission, and you’ll change the equation. Moving up in trim naturally means a less attractive lease, as the Overland and Rubicon’s 77-percent residual, coupled with the higher sticker price, won’t help your monthly payment. Still, if you’re willing to go entry-level, even while withholding a downpayment, you won’t come anywhere near the $588/month (for 60 months) payment buyers face.
Refuse a downpayment and opt for an automatic, and lessees of a Gladiator Sport are looking at $313 a month. In comparison, a 2019 Ford Ranger XL SuperCrew 4×4 can be leased for 24 months at $341 a month with $4,174 due at signing. The Ford’s mileage allowance is 10,500 per year.
Advantage: (Fiat) Chrysler.
[Images: Fiat Chrysler Automobiles]
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From someone who has never leased... Why would this be a better deal than simply buying the car? APR mentioned was about 5%. Can’t you get 0% most places these days? And I get the smaller payment piece (tho I’ve always had mindset if you can’t afford the payment to purchase the car you really shouldn’t be leasing that car), but should you buy you’ll be getting the same 89% residual. No mileage restrictions. Do with the car what you want I suppose one positive is if the car is junk you just hand it back. I’ve just never understood how a lease can truly be “better” from a financial perspective than buying. I get the new car thing. I get the drive more car for lower monthly payment thing. I get the you like the car but don’t want it after warranty thing. But how can it be financially smarter than just buying the same car?
Things that will give your wallet nightmares: off-roading a leased Gladiator. So then you never take it off-road, which is a lot like buying a Challenger Hellcat and never going past 1/4 throttle.