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Jeep Cherokee Depreciation

A Jeep Cherokee will depreciate 37% after 5 years and have a 5 year resale value of $24,451.

The chart below shows the expected depreciation for the next 10 years. These results are for vehicles in good condition, averaging 12,000 miles per year. It also assumes a selling price of $38,860 when new. Enter your purchase price, expected ownership period and estimated miles driven annually. Our depreciation calculator will predict an expected resale value for the Jeep Cherokee.

Jeep Cherokee Depreciation Calculator

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Jeep Cherokee Depreciation

Years Old Depreciation Residual Value Resale Value Mileage Resale Year
1 $6,451 83.40% $32,409 12,000 2022
2 $6,781 82.55% $32,079 24,000 2023
3 $7,912 79.64% $30,948 36,000 2024
4 $10,772 72.28% $28,088 48,000 2025
5 $14,409 62.92% $24,451 60,000 2026
6 $17,483 55.01% $21,377 72,000 2027
7 $17,530 54.89% $21,330 84,000 2028
8 $18,750 51.75% $20,110 96,000 2029
9 $20,188 48.05% $18,672 108,000 2030
10 $21,971 43.46% $16,889 120,000 2031

Jeep Cherokee Depreciation

Years Old Depreciation Residual Value Resale Value
1 $6,451 83.40% $32,409
2 $6,781 82.55% $32,079
3 $7,912 79.64% $30,948
4 $10,772 72.28% $28,088
5 $14,409 62.92% $24,451
6 $17,483 55.01% $21,377
7 $17,530 54.89% $21,330
8 $18,750 51.75% $20,110
9 $20,188 48.05% $18,672
10 $21,971 43.46% $16,889

Buying a Jeep Cherokee New vs Used

If you purchase a used Jeep Cherokee that is 2 years old, then you could save $6,781 compared to buying new, and still have a relatively new model with plenty of useful life remaining. If you plan to keep this vehicle for 3 years then your total cost of depreciation would be $7,628. Try other age and ownership length combinations, or different vehicles to see if you can find depreciation sweetspots where this cost is the lowest. Hint: Try vehicles between 2 and 4 years old, as brand new vehicles depreciate quickly. Also, if this is a recently released model and buying a few years old isn't possible, consider another vehicle, or perhaps wait until more used Cherokee models become available.

What About Jeep Cherokee Insurance Costs?

The average cost to insure a Jeep Cherokee is about $1,575 per year. This adds up to around $7,875 after 5 years of vehicle ownership. Unlike depreciation, this expense can often be lowered by shopping around for lower insurance premiums. Comparing quotes will ensure that you are not overpaying if you already own a Jeep Cherokee. Or, if you are just researching, then it would be money-wise to know this cost before buying. Try our Competitive Quote Tool or the form below to get free quotes. Advertising Disclosure

The Best Model Years to Buy a Jeep Cherokee

The 2021 Jeep Cherokee is our top pick for the best model year value for the Cherokee. With the 2021, you would only pay, on average, 83% of the price as new, with 92% of the vehicle's useful life remaining. The 2020 and 2017 model years are also attractive years for the Cherokee, and provide a relatively good value. Our rankings consider multiple factors, including the Cherokee's price as new, current price, maintenance costs and remaining years of overall predictabe expenses. Our top ranked model year represents the most car for the money of the Jeep Cherokee models.

Jeep Cherokee Historical Depreciation

Year New Price Current Price Maintenance $ Decline % Decline % Paid Value Rating
2022 $38,860 $38,860 $348 $0 0% 100%
2021 $38,809 $32,776 $409 $6,084 15.66% 83.4% Best
2020 $35,110 $29,488 $505 $3,288 10.03% 82.55% Better
2019 $33,753 $27,541 $659 $1,947 6.6% 79.64% Good
2018 $32,552 $24,317 $788 $3,224 11.71% 72.28%
2017 $33,119 $21,828 $989 $2,489 10.24% 62.92% Better
2016 $33,018 $19,562 $1,398 $2,266 10.38% 55.01% Good
2015 $30,290 $18,186 $1,561 $1,376 7.03% 54.89%
2014 $28,724 $16,578 $1,712 $1,608 8.84% 51.75%
Year Price % Paid Value Rank
2022 $38,860 100%
2021 $32,776 83.4% Best
2020 $29,488 82.55% Better
2019 $27,541 79.64% Good
2018 $24,317 72.28%
2017 $21,828 62.92% Better
2016 $19,562 55.01% Good
2015 $18,186 54.89%
2014 $16,578 51.75%

Jeep Cherokee Depreciation Rankings

Depreciation Rankings

We've ranked over 200 models from best to worst for Depreciation. See where the Jeep Cherokee ranks for Depreciation compared to other vehicles. Also check out how the Cherokee stacks up in our rankings for Maintenance, Insurance and Overall Costs.

Depreciation Rankings

Other Jeep Cherokee Costs of Ownership

Finding a car or truck that saves on depreciation costs is important. But, it's also imperative to view all major Jeep Cherokee costs. This will ensure that you are finding the vehicle that provides you the best value, at the lowest cost. We've created tools that will also help you to save on the following ownership expenses: