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Jeep is an American automobile brand and icon. Jeep cars originated in the 1940s, and were arguably the first ever mass-produced SUVs. These lightweight four-wheel-drive vehicles became the primary military vehicles for the US and Allied armies in WWII and the postwar period.
Jeeps are robust cars designed for rough terrain and harsh conditions. They’re renowned for their functionality.
Jeep has been owned by Fiat Chrysler Automobiles since 1987, and its headquarters are located in Toledo, Ohio.
About Jeep cars
Jeep cars are exclusively SUVs and crossovers, including:
- Grand Cherokee MY18 Laredo 4×2 – V6 Petrol ($47,950): eight-speed automatic transmission with 18-inch alloy wheels, Uconnect seven-inch touchscreen and ParkView reverse parking camera
- Compass MY18 Sport 2.4L MT FWD ($30,950): manual drive with 17-inch alloy wheels, reverse parking camera, seven airbags, 5.0-inch touchscreen and six-speaker audio system
- Wrangler Unlimited MY18 Freedom ($50,645): automatic drive with 18-inch granite crystal painted alloy wheels, body colour fender flares, rock rails and granite crystal-painted seven-slot jeep grille
- Renegade MY17 Sport 1.4L 6A ($30,950): automatic drive with voice command and Bluetooth, 16-inch steel wheels, five-inch touchscreen and electric park brake
- Cherokee MY18 Limited 3.2L Petrol ($47,095): automatic drive with 8.4-inch touchscreen, parallel and perpendicular park assist with stop, side distance warning, nine-speaker alpine sound system and subwoofer, and satellite navigation
Jeep is a brand built on functionality and dependability, although their modern cars aren’t as reliable as you might expect. In the Reliability Index, which measures car reliability based on multiple technical factors and user experience, Jeep was placed 28th out of 39 brands. The Jeep Cherokee, for example, scored 152 in the RI, 52 points below the industry average.
Jeep’s sales have been declining in Australia over recent years. They were recently subject to a high number of product recalls and suffered a hit to their reputation as a result.
They are, however, in the process of releasing new products to the market to rebuild their damaged name, so Jeep could be set to make a comeback in the Aussie market.
Jeeps are generally priced between $30,000 and $50,000, which classes them as ‘mid-range’ in terms of cost.
How can I get a Jeep car loan?
As with most car brands, Jeep car financing is available directly through your Jeep dealership. However, the rates and fees offered in-house may be higher than if you went to an independent car loan provider.
When looking for car finance, you have the option to:
Generally, Jeep car finance will consist of a secured car loan. A secured car loan is a loan that is secured by your vehicle, meaning that if you default on your payments, your car might be seized and sold to repay the loan.
Remember that loan rejections might negatively affect your credit score, so double check that you meet the application criteria before submitting a loan application.
How much does a Jeep car loan cost?
Here are the approximate running costs for three different Jeep models, based on RACQ category averages:
|Model||Category||Cents/km||Average $ per week|
|Cherokee Longtitude||4×4 3.2L V6||86.06||$248.25|
|Grand Cherokee Laredo||4×4 3.0L V6||99.11||$285.89|
|Grand Cherokee Laredo||4×4 3.6L V6||99.93||$288.27|
Here’s how much a five-year loan will cost for three different Jeep models if you borrow 100 per cent of the purchase price over five years:
|Model||Price/loan||Total repayments at 6%||Total repayments at 8%||Total repayments at 10%|
|Grand Cherokee MY18 Laredo 4×2 – V6||$47,950||$55,620||$58,335||$61,128|
|Compass MY18 Sport 2.4L MT FWD||$30,950||$35,901||$37,653||$39,456|
|Wrangler Unlimited MY18 Freedom||$50,645||$58,747||$61,614||$64,563|
A property and personal finance writer, Nick Bendel covers property, loans, credit cards, superannuation, and other bank products. Nick has previously written for The Adviser, Mortgage Business, Lifehacker, Business Insider, Yahoo Finance, and InvestorDaily, and loves getting elbow-deep in the latest ABS, APRA and RBA data.