Re: Getting my first jeep.
Certainly there are pros and cons to both but in addition to purchases I have leased two BMWs in the past. I never kept them full-term so I really can't speak to turn in at lease end as I sold them on leasetrader.com. As far this jeep is concerned I just leased a 2015 Grand Cherokee Overland with the tech package for two years. I like the lease option for the following reasons:
1. My credit report only reflects the lease amount and not the purchase amount (roughly $13,000 vs $45,000). If you're looking to keep your debt to income ratio low this might be a good option.
2. I can choose to purchase at lease end knowing I was the sole owner.
3. You are correct it is American made and I have already been through one previous 2014 Overland that was replaced so I learned my lesson quickly.
4. If something goes wrong with it I'm less likely to get as upset. Especially, now that I have a second vehicle...this way I can split miles up between both cars anyway and not worry about going over on the lease milage.
5. If I want out of the lease I can always attempt to sell/transfer it on lease trader or swap a lease. Yes, your lease is transferable just read the fine print.
6. Probably most importantly, I know I will definitely not keep this Jeep past two years.
7. Since I didn't purchase the Jeep I don't have to worry about negative equity when I go to sell.
8. Typically, lease is a cheaper monthly payment than buying (down payment considering). I wanted to keep as much money in my pocket as possible, which is sorta the idea of a lease.
9. At lease end you can choose one of three options: buy it, turn it in and walk away or....trade it in provided that you have equity in the vehicle. I hear this is rare because the leasing companies try very hard to ensure the residual value is right on. But if you do have equity it becomes your money and you can put it towards a down payment of either another purchase or another leased vehicle. Given this, if you're planning to lease or buy another Jeep, something tells me they just might find a little equity in your vehicle. Remember, you get to choose which Jeep dealer you return the vehicle and it doesn't have to be the one you leased from!
Anyway, these are just some of my considerations when choosing between purchasing and leasing. When you lease you may be able to talk them down on the money factor and of course the MSRP which could in turn reduce your monthly payments as well. I also found that leasing has more specials such as on my '15. They gave me $3,500 leasing rebate through Chrysler Capital. Just my two cents.