Every mainstream SUV maker must be smelling blood in the water with the Toyota RAV4 taking a supply-related sales hit this year. Jeep, in particular, is especially competitive going into Q4, leasing the Jeep Cherokee for as little as $319 per month. Here’s how you benefit from the fight for SUV supremacy.
Deals Vary By Region, But It’s Below $400 Anywhere You Go
The advertised value of this incentive varies depending on where you live. We were able to find a $319-per-month offer in the Orlando area, while regions as nearby as Georgia and South Carolina are seeing a $362-per-month offer. No matter where we look, every deal is well under $400 a month, so you should be able to claim a solid lease offer in any zip code.
Here’s how the deal breaks down for Central Florida lessees.
- $319/mo for 42 months
- $5,499 due at signing
- The lease example is for a 2026 Cherokee Laredo 4×4 (deal may vary by trim)
- Deal is good until November 2, 2026
- For qualified lessees only
- Usage limit of 10,000 miles per year
This deal is made possible by $2,000 in national bonus cash, $750 in national lease bonus cash, and, in parts of the Southeast, a $1,000 regional lease bonus cash offer. The exact numbers will vary depending on what additional offers are available in your region, and how your dealer does the math, but the national incentives should be available everywhere.
You Can Buy The Cherokee At 0% APR
The fine print for the lease deal makes no mention of an option to buy at the end of the term, so we’re not sure how much money you’d save by leasing to own. If you’d rather buy, you can currently finance a Cherokee at 0% APR for 72 months, with Jeep estimating an average finance savings of $9,698. Here’s how this deal works.
- 0% APR for 72 months
- Offer is good until November 2, 2026
- Qualified buyers only
- Not compatible with any other incentives or offers
- No particular trim is specified on this deal
You’ll need excellent credit for this one, but if you meet the requirements, you’re going to save quite a bit of money compared to a typical APR of around 6.3%. Here’s how the math might break down for a particularly well-qualified buyer, assuming the loan is paid off in 72 months (which should be very manageable for someone with excellent credit).
MSRP
$40,220
APR
6.3%
0.0%
Monthly Payment
$672
$559
Interest
$8,183
$0
Total Cost
$48,404
$40,220
In this instance, no interest is paid whatsoever, so, before taxes, titling, registration, and other costs, you’re not paying a dime over MSRP. Realistically, not many buyers will qualify for zero interest, but the fact that some buyers can get this deal bodes well for the rest. If you know that your credit has seen better days, Jeep is also offering up to $4,500 in bonus cash, and you don’t have to jump through any hoops for that offer. So, almost everyone can get a deal regardless.
Toyota’s Not Going Down Without A Fight
2026 Toyota RAV4 front 3/4Toyota
We recently reported on Toyota dealers’ efforts to stay competitive with incentives of their own. In some areas, you can claim a RAV4 LE for as little as $299 a month, but most zip codes will have you paying $379. Let’s take a look at that deal.
- $379/mo for 36 months
- Qualified lessees only
- Comes with two years of ToyotaCare
- 10,000 mile-per-year limit
- Applies to a 2026 RAV4 LE
- Deal expires November 2, 2026
Both this deal and the Jeep Cherokee deal have their pros and cons. We like that we get to keep the Jeep for an extra six months, and we like that our monthly payments are $60 cheaper. But the RAV4 comes with two years of ToyotaCare. Ultimately, this decision may come down to who’s willing to cut a deal. If Toyota tells you the best it can do is $450 per month, you can drive across town to the Jeep dealership and see if it can beat it.
Depreciation Has Done A Number On Older Cherokees
2021 Jeep Cherokee, Side Profile, SilverStellantis
Our price-tracking tool shows a 2021 Jeep Cherokee Latitude Plus 4×4 trending at $18,217 from an MSRP of $31,025. That’s a drop of 41.3% in value, making for a compelling used car deal. Here are a few used listings we were able to turn up.
- A 21,738-mile 2020 Trailhawk is selling for $20,850 in Minnesota.
- An 18,207-mile 2022 Latitude Lux is selling for $25,090 in Pennsylvania.
- A 42,629-mile 2021 Limited is selling for $20,990 in Ohio.
- A 26,705-mile 2020 Latitude Plus is selling for $20,990 in New York.
- A 23,697-mile 2022 Latitude Lux 4×4 is selling for $26,250 in Minnesota.
These listings are only provided to give you an example of what’s out there. You’ll want to run a search of your own and see what’s available in your area, and in your price range, when you’re ready to buy.
The Best Deals Are On The Higher Trims
2021 Jeep Cherokee Anniversary Edition, Front 3/4, BlackStellantis
One thing we like about older cars is how all trims tend to settle into roughly the same price range, so upgrades that might have cost $5,000 or more just five years ago can now be had for a difference of $500. Generally, the higher up the trim ladder you go, the more money you’ll save on a used SUV.
Our advice, then, would be to look for a higher trim like a Trailhawk with all the extras, and see what kind of deal you can get on it.
Sources: Jeep, Toyota.
