It’s July 6th, which means Jeep has just released their July programs and with it has come the 24 Wrangler programs… and they suck. Am I surprised? Not really. This is fairly typical for a new model year where the first month programs are released at standard rate, without any incentives, and the numbers are just plain scary. So, what are we seeing?
Currently, none of the banks are passing through the $7500 ev credit on a lease. This doesn’t surprise me as the Gov list for what qualifies under section 30D hasn’t updated yet to reflect the 24 4xes, and while that list is completely irrelevant to what would qualify under a lease, many of them look to it anyway. I fully expect this to correct itself in time. Edit: The $7500 is back as of 7/11
Beyond that, Jeep isn’t offering any incentives right now (other than the normal military and first responder) on the 24s for a lease or a purchase. Again, not surprised. It’s hour one of day one of month one.
In addition to not cash incentives, there also aren’t any incentivized money factors yet on leases, so the rent charge on a lease is sky high.
On the bright side, the residual values on the 24s on some of the trims are fantastic. When the incentivized programs come out, the Sport S has a ton of potential to be a great lease deal and the Rubicons continue to look strong.
So, what does that all mean? If you have a 24 you previously ordered showing up in the next few weeks, plan on purchasing it rather than leasing, but keep an eye on things. It’s not unusual for Jeep to roll out the very first programs and have them be miserable, then update mid-month with incentivized programs. It’s also not unusual at all for the second month programs to be substantially better than the first.
If you’ve been on the fence on ordering because you wanted to wait for the programs to be released, this is likely not the news you were hoping to see today, but I would treat this more as having to wait longer to see what the “real” programs will be.
Ok, enough rambling, here are what the numbers look like for CCAP for 10k mile per year leases:
Tier 1 money factor for 24 months/36 months/39 months
.00628/.00363/.00403
Residual values for 24 months/36 months/39 months
High Altitude: 68%/61%/59%
Rubicon: 73%/66%/63%
Rubicon X: 73%/66%/63%
Sahara: 69%/62%/60%
Sport S: 75%/67%/64%
Willys: 71%/64%/62%
Currently, none of the banks are passing through the $7500 ev credit on a lease. This doesn’t surprise me as the Gov list for what qualifies under section 30D hasn’t updated yet to reflect the 24 4xes, and while that list is completely irrelevant to what would qualify under a lease, many of them look to it anyway. I fully expect this to correct itself in time. Edit: The $7500 is back as of 7/11
Beyond that, Jeep isn’t offering any incentives right now (other than the normal military and first responder) on the 24s for a lease or a purchase. Again, not surprised. It’s hour one of day one of month one.
In addition to not cash incentives, there also aren’t any incentivized money factors yet on leases, so the rent charge on a lease is sky high.
On the bright side, the residual values on the 24s on some of the trims are fantastic. When the incentivized programs come out, the Sport S has a ton of potential to be a great lease deal and the Rubicons continue to look strong.
So, what does that all mean? If you have a 24 you previously ordered showing up in the next few weeks, plan on purchasing it rather than leasing, but keep an eye on things. It’s not unusual for Jeep to roll out the very first programs and have them be miserable, then update mid-month with incentivized programs. It’s also not unusual at all for the second month programs to be substantially better than the first.
If you’ve been on the fence on ordering because you wanted to wait for the programs to be released, this is likely not the news you were hoping to see today, but I would treat this more as having to wait longer to see what the “real” programs will be.
Ok, enough rambling, here are what the numbers look like for CCAP for 10k mile per year leases:
Tier 1 money factor for 24 months/36 months/39 months
.00628/.00363/.00403
Residual values for 24 months/36 months/39 months
High Altitude: 68%/61%/59%
Rubicon: 73%/66%/63%
Rubicon X: 73%/66%/63%
Sahara: 69%/62%/60%
Sport S: 75%/67%/64%
Willys: 71%/64%/62%
