Is the Jeep Grand Cherokee Worth Buying in 2024? An Honest Review
As a long-time fan of the Jeep Grand Cherokee, I've always appreciated its design and capabilities. However, the latest model has left me feeling a bit underwhelmed, and I suspect many potential buyers might feel the same way. Let's dive into why this might be the case and explore whether the 2024 Grand Cherokee is still a good buy.
The Good, the Bad, and the Expensive
The current Grand Cherokee seems to be facing some challenges:
It's pricier than ever, with many models crossing the $50,000 mark
The value proposition isn't as strong as it used to be
The interior and overall design feel somewhat lackluster for a 2024 model
In fact, Jeep is offering $4,000 in lease cash to buyers who have a competitive brand in their household. This suggests they're aware of the tough competition in the market.
"For $50,000, you don't really get anything special."
Is It Built for Rental Fleets?
One of my main gripes with the new Grand Cherokee is that it feels like it was designed with rental car companies in mind, rather than the average buyer. Here's what I mean:
Abundant use of plastics
Simple, uninspired rim designs
Boring interior styling
For a 2024 model, I expected more. It's missing that personality and wow factor that many buyers are looking for in this price range.
The Silver Lining
Despite these drawbacks, the Grand Cherokee isn't all bad news. If you're in the market for an SUV and want:
An easy deal
Guaranteed stock availability
Then the Grand Cherokee might still be a solid choice for you.
4 Key Buying Factors to Consider
Let's break down the most important factors you should consider if you're interested in a Jeep Grand Cherokee:
Sales and Inventory Data
Target Discount off MSRP
Current Incentives and Lease Programs
A Car Guy's Perspective
Sales and Inventory
Jeep's parent company, Stellantis, is facing challenges
Grand Cherokee sales are down compared to previous years
Projected to sell about 20% fewer units this year compared to last
Still outperforming close rivals like Ford Explorer and Honda Pilot
Inventory Numbers
Jeep: Nearly 50,000 Grand Cherokees in stock
Ford: 24,000 Explorers
Honda: 13,000 Pilots
Jeep has good availability across its lineup:
20,000 regular Grand Cherokees
20,000 3-Row L models
8,000 4xe models
Target Discount
Using a Grand Cherokee Limited 4x4 with an MSRP of $51,900 as an example:
Local dealers are offering about 7% off sticker price
I'd recommend pushing for at least 10% off before rebates
Target selling price: $46,620 (10% off MSRP)
Current Incentives
4.9% promotional financing for 72 months
0% financing for 36 months
$4,500 rebate if you don't take the promotional APR
With the rebate, you could potentially get the price down to $42,120 - nearly 20% off the sticker price!
Lease Options
Lease terms (may vary by region):
52% residual at 39 months and 12,000 miles per year
0.00111 money factor
Up to $5,000 in rebates for eligible buyers
Assuming 10% off MSRP and paying inception fees upfront, you could be looking at around $451 per month (before tax) on a lease.
My Personal Take
If I were in the market for a Grand Cherokee, I'd lean towards leasing rather than buying. The high MSRP and potential for depreciation make leasing a more attractive option in my opinion.
Conclusion
While the 2024 Jeep Grand Cherokee may not be the most exciting option in its class, it still offers decent value, especially if you can take advantage of the current incentives and discounts. If you're in the market for a reliable SUV with good availability, it's worth considering - just be sure to negotiate a good deal.
What do you think about the 2024 Jeep Grand Cherokee? Are you considering one, or have you found a better alternative? Let us know in the comments below!
Don't forget to check out the full video for more details and insights on the Jeep Grand Cherokee!
