Jeep Financing: What To Know in 2024 | LendingTree (2024)

If you’re ready to “go anywhere, do anything,” then you might be pondering a new Jeep. But how are you going to pay for it? That’s where we can help.

There are few ways to go about Jeep financing. We’ve broken them down here. And if you’ve already shopped for loans, we’ve got data to help you figure out if your offers are competitive.

Using sources like Experian and Kelley Blue Book (KBB), we calculated average monthly payments for some of Jeep’s most popular models. We then broke these monthly payments down by credit score (you’ll find them in the tables below).

Keep in mind that these are hypothetical numbers, and your auto loan payments will vary.

Lenders review more than just your credit score when you buy a car. Factors like your payment history and annual income also come into play. You might also need to borrow over manufacturer suggested retail price (MSRP) to cover taxes, fees and extended warranties.

Loan terms (or the length of time you have to pay back your loan) also affect your monthly car payment.

You might notice some of our higher-credit borrowers have higher monthly payments. This is probably opposite than what you’d expect. However, according to Experian, borrowers with good to excellent credit tend to choose shorter loan terms.

A shorter loan term can help you pay less interest overall. At the same time, your monthly payments may be higher since you’ll have less time to pay off your loan.

Learn more about how we calculated average monthly Jeep payments.

Estimated average monthly payments for new Jeeps

Estimated average monthly payments for used Jeeps

Jeep Finance options

Most people would agree that getting a car loan is a drag (at least, compared to picking out your new ride). Even so, a little research could help you find Jeep Financing with the lowest rate.

Chrysler Capital

You can get a car loan straight from Jeep itself. This is called manufacturer or captive financing. Jeep’s financing arm is Chrysler Capital (Chrysler bought Jeep in 1987).

The good news about manufacturer financing is that you might be able to find a 0.00% APR car deal. That is, as long as Chrysler Capital is currently running a promotion.

The bad news? Special offers, promotions and annual percentage rates (APRs) depend on your ZIP code. You’ll need to check with your local Jeep dealer (or go online) to see what’s available in your area.

If you have a FICO score below 620, you might have a hard time getting Chrysler Capital to approve you. You can prequalify on Chrysler’s website. You can also apply for a preapproved car loan and use it at an authorized Jeep dealership.

You might also be a good fit to purchase or lease through Chrysler Capital if you’re looking for:

Certified pre-owned vehicles

Before they hit the lot, Jeep’s certified pre-owned cars undergo a 125-point inspection. They also come with a free CarFax™ report for added peace of mind. Once certified, these Jeeps get a seven-year, 100,000-mile warranty.

Chrysler bonus incentive programs

You could get a $500 rebate on certain new Jeeps if you’re a first responder. Active duty military, retired military and disabled vets can also get $500 off select 2023 and 2024 models.

Car warranties

New and certified pre-owned Jeeps come with a limited vehicle warranty. This generally covers damages and defects caused by factory-installed parts.

If you’re buying a 2019 or newer, you can round out your coverage by adding a Lifetime Certified Warranty Upgrade. Depending on the package, you could get extra protection for your car’s mechanical components, trip interruption coverage and more.

DriveAbility Disability Assistance Program

The DriveAbility Disability Assistance Program offers a $1,000 reimbursem*nt for installing adaptive equipment. This program only applies to brand-new cars and is not available on Jeep Grand Cherokee SRTs.

Bank and credit union auto loans

Chances are that your bank or credit union offers auto loans. You might even qualify for an APR discount for both banking and borrowing.

What’s more, some lenders have a car-buying service. Using this service could net you an additional rate reduction, and you might get a discount on your Jeep, too.

Credit score requirements for bank and credit union auto loans vary by institution. In general, banks require at least good credit. Credit unions, on the other hand, are member-owned nonprofits. As a result, some (such as Consumers Credit Union) work with those with less-than-perfect credit.

Online auto loans

Online auto loans are versatile. If you have excellent credit, you could get rates that are on par with a traditional auto loan. If you have bad credit, there’s likely an online lender that can accommodate.

Plus, you can get prequalified or preapproved with most online auto lenders in just a few minutes. You might even qualify for an instant auto loan.

Comparing finance offers may be just as important as comparing Jeep prices. Otherwise, how do you know that you’re getting the best rate?

In-house financing

If you’ve driven past a buy here, pay here car lot, then you might be familiar with in-house financing. With this, the dealership itself loans you money to buy a car rather than a lender or bank.

Buy here, pay here car lots have loose requirements — some don’t check your credit at all. However, the easier a loan is to get, the more expensive it usually is. In-house financing can come with exorbitant APRs, with dealer fees to match.

In-house financing can be tempting if you’re trying to get a car loan with no credit history. You might be better off applying for a bad credit car loan instead. Although you’ll still pay higher rates than someone else with better credit, these loans are typically cheaper than in-house financing.

To calculate average monthly Jeep payments, we found estimated starting MSRPs for some of the most popular Jeep models.

Then, we subtracted an average down payment from each MSRP. According to Edmunds, the average down payment on a new vehicle was $7,074 in Q4 2023. For used vehicles, it was $4,122. The resulting figure represents the total amount our hypothetical borrowers financed.

From there, we used our auto loan calculator to figure out average monthly Jeep payments using average APRs and loan terms as reported by Experian’s State of the Automotive Finance Market Q4 2023. You’ll find this data in the tables below. Please note that loan terms were rounded to the nearest whole number during our calculations.