It’s not the easiest time to be selling vehicles. The sudden economic downturn of 2020 has led to a massive decline in willing buyers, meaning carmakers and dealerships have to figure out how they can sell inventory even into 2021. For people wanting to buy a new vehicle, this could be a good thing. You might be able to find deals on high-priced vehicles that salespeople are trying to push off the lot. One of these vehicles is the Jeep Cherokee, which you can learn more about online.
Jeep Cherokee vehicles are always in demand, but this model’s sales have been directly impacted the past year. This is something consumers may be able to take advantage of. You can search online to find out the latest offers on the Jeep Cherokee.
Here’s what you should know if you’re interested in buying a new Jeep Cherokee.
Jeep Cherokees Have Had A Drop In Sales
Most industries have taken a hit in recent months, especially auto dealerships. People just aren’t shopping for vehicles as much. This is especially true for vehicles like the Jeep Cherokee.
While the Cherokee is typically one of the brand’s best selling models, it was still struggling to meet its usual numbers even before the economy went south. The Cherokee’s sales in 2019 dropped by 20 percent. It further plunged to 30 percent in the fourth quarter.¹
To combat poor sales, the carmaker has decided to drop the Cherokee Overland – the pricest model of the Cherokee lineup – entirely for 2021. The price of this trim is one of the biggest reasons for its downfall since consumers are prioritizing more budget-friendly options.
While Jeep is saying goodbye to the Cherokee Overland for now, the company has introduced a new trim called the Latitude Lux. This version is priced in between the Latitude Plus and Limited trims. This is a smart tactic on Jeep’s part — it replaces the most expensive Cheroke Overland with a slightly less expensive model that consumers are more likely to gravitate towards.
Cherokee Overlands were not cheap. The starting price was $38,490 and that number increases by nearly $5,000 on fully loaded models. Plus, it only accounted for a fraction of Jeep’s inventory. Without the Cherokee Overland available, all trims will be $37,000 or less.²
See What Offers Are Available On Jeep Cherokee Models
Now that we know what’s going on behind-the-scenes with the Jeep Cherokee, it’s time to look for deals. While offers can always change, here’s what’s available right now.
The MSRP on a 2021 Cherokee Latitude Lux starts at $30,145. This is already a worthwhile deal when you compare it to the Cherokee Overland’s $38,490 price tag. The model is built with a 3.2L V6 engine, 9-speed automatic transmission and 17-inch wheels. Plus, it’s equipped with a Uconnect 4 with 7-inch display and Apple CarPlay.³
Qualified buyers can get up to $5,750 in cash allowance. You must reside in qualifying states and finance through Chrysler Capital. Another offer available is financing for zero percent APR for 72 months and up to $2,250 in cash allowance. Nor everyone will qualify, so search online to see what the exact requirements for this offer are.
Those wanting a slight upgrade could also get the 2021 Grand Cherokee Laredo E 4X2. It features a 3.6L V6 engine, an 8-speed automatic transmission and up to 6,200 pound towing capacity. The starting MSRP is $34,220 and it comes with similar cash allowance and APR offers as the Latitude Lux.⁴
Not looking to buy a Cherokee? Then consider leasing one instead. The 2021 Cherokee Latitude Lux is also available to lease for $185 per month for 36 months. A sum of $3,925 is due at signing, but there is no security deposit required.
Search Online For More Deals On Jeep Cherokees
Don’t be afraid to shop for previous year models. While it might not be the latest and greatest thing on Jeep’s lineup, it’s a great way to save money. They usually aren’t that much different than current year models, and choosing a new yet older model can potentially keep thousands of dollars in your wallet.
Keep checking online for sales events and incentives around the holidays too. Also, consider shopping at the end of the month. Salespeople are more likely to give you an incentive in order to meet their monthly sales goals.⁵
The key to finding a good deal on any Jeep Cherokee is to search consistently. Search online with various places to see what they have to offer. You can price compare beforehand and find out which dealership is offering the best price for you.