Jeep Grand Cherokee Depreciation
A Jeep Grand Cherokee will depreciate 52% after 5 years and have a 5 year resale value of $26,200.
The Jeep Grand Cherokee does an OK job of holding its value, but it's not great. It's neck-and-neck with its principal rival, the Ford Explorer, but it's still towards the back of the pack when meaured by its resale values. While we don't recommend buying a new Grand Cherokee, as they will lose 25% of their value in year 1, you can find some good deals in the used market, provided that you do your homework.
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 $54,927 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 Grand Cherokee.
Jeep Grand Cherokee Depreciation
| Years Old | Depreciation | Residual Value | Resale Value | Mileage | Resale Year |
|---|---|---|---|---|---|
| 1 | $17,269 | 68.56% | $37,658 | 12,000 | 2025 |
| 2 | $20,092 | 63.42% | $34,835 | 24,000 | 2026 |
| 3 | $24,305 | 55.75% | $30,622 | 36,000 | 2027 |
| 4 | $26,601 | 51.57% | $28,326 | 48,000 | 2028 |
| 5 | $28,727 | 47.70% | $26,200 | 60,000 | 2029 |
| 6 | $28,892 | 47.40% | $26,035 | 72,000 | 2030 |
| 7 | $32,242 | 41.30% | $22,685 | 84,000 | 2031 |
| 8 | $33,808 | 38.45% | $21,119 | 96,000 | 2032 |
| 9 | $35,549 | 35.28% | $19,378 | 108,000 | 2033 |
| 10 | $36,922 | 32.78% | $18,005 | 120,000 | 2034 |
Jeep Grand Cherokee Depreciation
| Years Old | Depreciation | Residual Value | Resale Value |
|---|---|---|---|
| 1 | $17,269 | 68.56% | $37,658 |
| 2 | $20,092 | 63.42% | $34,835 |
| 3 | $24,305 | 55.75% | $30,622 |
| 4 | $26,601 | 51.57% | $28,326 |
| 5 | $28,727 | 47.70% | $26,200 |
| 6 | $28,892 | 47.40% | $26,035 |
| 7 | $32,242 | 41.30% | $22,685 |
| 8 | $33,808 | 38.45% | $21,119 |
| 9 | $35,549 | 35.28% | $19,378 |
| 10 | $36,922 | 32.78% | $18,005 |
Buying a Jeep Grand Cherokee New vs Used
If you purchase a used Jeep Grand Cherokee that is 2 years old, then you could save $20,092 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 $8,635. 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 Grand Cherokee models become available.
What About Jeep Grand Cherokee Insurance Costs?
The average cost to insure a Jeep Grand Cherokee is about $2,285 per year. This adds up to around $11,425 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 Grand 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 Grand Cherokee
The 2023 Jeep Grand Cherokee is our top pick for the best model year value for the Grand Cherokee. With the 2023, you would only pay, on average, 69% of the price as new, with 92% of the vehicle's useful life remaining. The 2021 and 2020 model years are also attractive years for the Grand Cherokee, and provide a relatively good value. Our rankings consider multiple factors, including the Grand 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 Grand Cherokee models.
Jeep Grand Cherokee Historical Depreciation
| Year | New Price | Current Price | Maintenance | $ Decline | % Decline | % Paid | Value Rating |
|---|---|---|---|---|---|---|---|
| 2024 | $54,927 | $54,927 | $436 | $0 | 0% | 100% | |
| 2023 | $62,057 | $42,546 | $514 | $12,381 | 22.54% | 68.56% | Best |
| 2022 | $54,011 | $40,608 | $636 | $1,938 | 4.56% | 75.18% | Good |
| 2021 | $53,881 | $30,036 | $833 | $10,572 | 26.03% | 55.75% | Better |
| 2020 | $47,350 | $27,089 | $996 | $2,947 | 9.81% | 57.21% | Better |
| 2019 | $46,545 | $24,062 | $1,252 | $3,027 | 11.17% | 51.7% | Good |
| Year | Price | % Paid | Value Rank |
|---|---|---|---|
| 2024 | $54,927 | 100% | |
| 2023 | $42,546 | 68.56% | Best |
| 2022 | $40,608 | 75.18% | Good |
| 2021 | $30,036 | 55.75% | Better |
| 2020 | $27,089 | 57.21% | Better |
| 2019 | $24,062 | 51.7% | Good |
Jeep Grand Cherokee Depreciation Rankings
We've ranked over 200 models from best to worst for Depreciation. See where the Jeep Grand Cherokee ranks for Depreciation compared to other vehicles. Also check out how the Grand Cherokee stacks up in our rankings for Maintenance, Insurance and Overall Costs.
Other Jeep Grand 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 Grand 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:
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