2025 Jeep Cherokee lease-fair/low credit

Reddog1474

Hi
Looking to get a 2025 Jeep grand Cherokee Overland or limited. I would like to lease it for 48 months and have a 620 credit score. Am I going to be offered a really bad lease deal based on my credit? Appreciate any help and guidance.

kyfdx

Reddog1474 said:

Hi

Looking to get a 2025 Jeep grand Cherokee Overland or limited. I would like to lease it for 48 months and have a 620 credit score. Am I going to be offered a really bad lease deal based on my credit? Appreciate any help and guidance.

I don't know the credit scores associated with each Tier. But, lower credit equals higher rates, whether leasing or financing.

For example, with Stellantis Financial, a Tier 4 rate adds .00218 to the base money factor. That's the equivalent of more than 5% APR bump. (I don't know if your score is Tier 4)

Reddog1474

In this scenario would I be better financing?

kyfdx

Reddog1474 said:

In this scenario would I be better financing?

Well, once you get quoted a lease payment with Tier 4 rates, you won't want to lease, in any event. I have no idea what the markups will be on financing, but there are an infinite number of other banks that the dealer can use. Maybe, they'll have one that won't be too onerous.