by Brad Anderson
- Jeep advertises a $76 lease for the Wrangler 4xe but requires a big down payment.
- Low monthly payment only applies to 24 months with a 5,000-mile annual cap.
- Total cost works out to nearly $7,200, excluding taxes, fees, and dealer add-ons.
The Jeep Wrangler 4xe has been marketed as a runaway success since its 2021 debut, regularly touted as one of the best-selling plug-in hybrids in the US. On paper, Jeep even claims you can slide into one for as little as $76 a month. Of course, anyone who has ever glanced at the fine print of a lease knows that if something sounds absurdly cheap, there’s usually a reason lurking underneath.
Read: Jeep Wrangler 4xe Backcountry Is An Off-Road Focused Plug-In Hybrid
That attention-grabbing monthly payment is advertised right on Jeep’s website. In certain states, including California, the base Wrangler Sport S 4xe shows up with a ridiculously low lease rate of just $76 a month for 24 months. Tempting, no doubt. What’s not splashed across the screen in bold lettering is the $5,269 down payment required to get that rate, a figure that exceeds 10 percent of the vehicle’s MSRP.
Breaking Down the Fine Print
That down payment is where the math quickly shifts. Add this figure to the $76 monthly fee and you get a total of $7,169 over the 24-month term, which ends up being the equivalent of $298 per month. As pointed out by Cars Direct, this does not include taxes, fees, and dealer options, meaning shoppers may ended up paying nearer to $340 a month.
Then there’s the mileage cap, as this particular lease is limited to just 5,000 miles per year, which would be a tight squeeze for most drivers.
It’s not an uncommon tactic. Automaker and dealer promotions push eye-catching monthly rates, offset by steep upfront costs. Aside from skewing the perceived cost of the lease, any kind of down payment is a bad idea. If the vehicle is totaled during the lease term, even if it happens just after you drive off the lot, that initial lump sum is gone.
Stacked Incentives, Limited Flexibility
Part of how Jeep is able to offer such an aggressive advertised rate comes down to incentives too. It includes $8,550 in lease cash nationwide and is also being offered with the $7,500 federal EV lease incentive through the end of this month. Customers living on the West Coast are also eligible for an extra $2,000 in Lease Bonus Cash. Those who already lease a Stellantis model may also be eligible for an extra $500 loyalty bonus.
The price of the Wrangler 4xe lease soars if you need to drive more than 5,000 miles per year. Increase the lease term to 36 months and the annual mileage allowance to 10,000, and the monthly payment jumps to $214, and that’s still before you factor in the down payment.
It’s also worth noting that these lease deals are region-specific. For instance, plugging in a Massachusetts ZIP code into Jeep’s configurator bumps that $76 California lease to $163 per month for 24 months and 5,000 miles. Opt for a more practical 36-month term with 10,000 miles per year, and the payment jumps to $274, still with the same $5,269 down payment required in each case.
