Jeep Wagoneer financing offer for 72 months cheaper than 60 months

If you’re looking to get the best possible deal on a new Jeep Wagoneer, we’ve found a potential loophole you need to know about. According to dealer incentive newsletters, Chrysler Capital’s 72-month finance rate is actually lower than its 60-month interest rate, allowing you to lower both your overall cost and your monthly payment.

Through May 2, the 2022 Jeep Wagoneer Series II and Series III offer 0% APR financing for 72 months. Meanwhile, the 60-month rate on the same SUVs is 0.9% APR. If you assumed a shorter loan would be more affordable (which it is in most cases), you might end up paying more money.

On a $70,000 SUV, this difference in financial incentives could have a major effect on your potential net costs. First, the total estimated cost of a loan is over $1,600 cheaper with the 6-year loan. Second, there is a huge price difference in expected monthly payments when comparing the two financing options.

With the 5-year loan, the estimated payment would be $1,194 per month before taxes and fees. With the 6-year option, the same SUV would cost $972 per month. That’s a difference of $222 per month, with a lower overall cost, just for choosing 6-year financing. It’s not every day that you see something like this.

Longer loans usually carry higher interest rates, but that’s not the case here. While it’s tempting to call out the prevalence of longer (and more expensive) car loans these days, it could present an opportunity for a great deal. That said, there are a few downsides to be aware of if you decide this is right for you.

Like most finance deals, this requires first level credit to qualify. There’s also another big catch in that the more luxurious Grand Wagoneer is completely left out. The same goes for the more affordable Wagoneer Series I. Still, for a buyer looking to buy now, this could be a surprisingly good time to do so.

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