To buy or rent a Jeep, that is the question. There are compelling reasons to consider each of these two financing methods on the path to getting the keys to your dream SUV.
Now, some drivers may know right away that they want to buy them – especially if they’re going to take long road trips in their jeeps, or plan to seriously modify them. However, others may want to buy because they like to drive the car for as long as possible. In such scenarios, getting a car loan makes perfect sense.
But many other drivers may find that renting is the most appropriate option for them at this time. Here are just six of the many reasons why you should seriously consider renting a new Jeep.
1. Get more jeeps for less money
Leasing can help drivers afford the models and reduce the levels they may not be equipped to purchase.
Put it this way: When comparing leasing versus buying a similarly priced car, the cost of leasing is always lower. So, you have the choice of either enjoying those lower monthly payments or upgrading to a more luxurious option for the same monthly payment that you would have on the less luxe SUV had you bought it.
Auto experts often call this “getting more cars” for your money.
2. Do not sweat consumption
Why do rent payments tend to be lower? Because you only pay for how much the car depreciates over the course of the lease, usually two to three years. Buying a car means that you pay the total cost of the car while bearing the burden of depreciation over the years.
3. Keep under warranty
Jeep rentals tend to include a certain amount of warranty protection. A two-year lease of a new Wrangler means that any repairs required during that time frame will likely be covered by the original manufacturer’s warranty. Buying a Jeep means that you will likely have to pay out of pocket for repairs if they happen after the warranty is out of order.
4. Upgrade your jeep sooner
Some people like to drive their SUV for as long as possible before it is time to replace it. Others enjoy the ease and excitement of getting out of one model and starting next year every few years. If the latter sounds attractive to you, then leasing may be better than buying your next Jeep.
5. Skip the big down payment
The rule of thumb when buying a car has always been to put in about 20 percent of the new car’s value when you sign, or 10 percent for a used car. Many drivers don’t have $5,000 or more in cash ready to go at a moment’s notice—and saving enough for the down payment can take months.
Pocket rental deals often remove this barrier by asking for a lower down payment or no down payment at all, depending on your credit standing and other factors.
6. Take advantage of the latest technology
Another plus of upgrading your SUV more often is taking advantage of the latest technologies – such as infotainment and safety features. If you buy a car, you may have to wait five years or more before trying the latest technology. Lease helps you stay on top of features like Apple Carplay, available Wi-Fi hotspots, available Amazon integration, and more.
Buying a Jeep is one way you can add a durable SUV to your driveway or garage, but it’s not the only way. Taking advantage of rental deals can help you achieve lower monthly payments, stay under warranty and replace your Jeep after a few years.