Understanding the Jeep Cherokee Market

While sales recovered slightly towards the end of the year, automakers suffered in 2020. According to the Bureau of Labor Statistics, during the first months of shutdown, dealerships laid off nearly 25 percent of their employees. Low sales prompted massive changes in the industry. Jeep worked with financers to offer deferred payments and other payment relief programs to its existing customers.

Currently, sales are trending up across the industry, but dealerships are still dealing with large amounts of unsold inventory. To clear space, many are offering excellent deals for drivers. If you’re in the market for a new Jeep Cherokee, you might see financial incentives such as 0 percent financing for periods of up to 84 months, cashback offers, and exceptional lease terms.

Whether you’re buying or leasing, the Jeep Cherokee offers a comfortable, luxurious ride at an affordable MSRP. The 2020 model features a 9-speed automatic transmission, advanced safety features, and a 54.7 cubic foot cargo capacity behind the first-row seat.

Best of all, the 2020 models are extremely similar to the new 2020 Jeep Cherokee. By opting for a previous-year model, you may be able to save big while still enjoying the perks of a new vehicle.

Many Dealerships Offering Options Online

The pandemic prompted another major change among Jeep dealerships: Many have embraced online sales. Traditionally, the auto industry has avoided selling through the internet, insisting that customers visit local dealerships.

That changed last year. Now, consumers can view vehicles, apply for financing, and even arrange test drives online. With a quick online search, you can visit virtual showrooms, find incentives, and compare cars between dealerships from the comfort of your home.

If you decide to purchase, you can often place a downpayment and receive your vehicle the same day. The process is fast and safe, and for many drivers, it’s much less stressful than buying a new car in person.

Look for Local Deals

In order to maximize your savings, you’ll need to look online. Incentives vary by location, and some local dealerships are going to great lengths to get customers in the door. By using online resources, you can easily compare options — and comparison shopping is an excellent way to control costs.

Some things to consider when researching:

• Look at more than one dealership. The more options you consider, the more you’ll understand the market. As a general rule, you should consider at least 3-4 options, but if you don’t find a suitable deal right away, keep looking.
• Use online resources effectively. Many dealerships don’t offer their best rates directly through their websites. Visit any links you can find in order to reveal all possible deals, discounts, and incentives.
• Compare incentives carefully. A cashback offer can be enticing, but a low (or 0 percent) APR can save you more over time. Keep detailed notes of each offer in order to make accurate comparisons.
• Consider different vehicle options and previous years. You may be able to find 2019 Jeep Cherokees and special edition models; pay close attention to their features when shopping. In many cases, previous-year models are virtually identical to recent-year models — and as long as the odometer is near “0,” you’re still getting a new car with a manufacturer warranty.

Finally, be prepared to negotiate. The prices listed on dealership websites aren’t necessarily their best offer, and if you’re willing to do some research, you can get in contact with a dealership and talk your way into an even better deal.

Finding a Deal on a Grand Cherokee

Remember to use as many online resources as possible. Look at every available dealership, paying attention to available incentives, financing options, and other pertinent info. Detailed notes will make this process much easier.

When you’re ready to buy, try to negotiate. Again, Jeep dealerships need to get rid of their stock to clear the way for new models — take advantage of the market conditions and try to get the best possible deal. By looking at a variety of options, you should be able to drive away in a brand-new Jeep Cherokee without breaking the bank.