Jeep recently presented its small SUV, the Avenger, a 100% electric model that shares several technical elements with the Peugeot e-2008, among others. The one that should quickly become the best seller for Jeep in Europe already shows advantageous monthly payments and an LLD of less than 200 euros per month. But is it really a good deal? Decoded.
Jeep is finally taking the big leap in electrification. After several plug-in hybrid models, the American manufacturer, a member of the Stellantis group since the merger between PSA and FCA, presented its first 100% electric production model last year, the Jeep Avenger.
It should obviously allow the brand to increase its sales in Europe, but also to start a major review of the range and gradually move to 100% electric.
The all-electric Jeep Avenger marks the debut of the STLA Small platform, one of four electrified platforms that Stellantis will build its new lineup on. The model shares some elements with the Peugeot e-2008 and others with the DS 3 E-Tense, and it is already shown at advantageous monthly installments through a long-term rental. In fact, in France, Jeep communicates about an offer from 199 euros per monthenough to arouse our curiosity.
The Jeep Avenger is offered at 199 euros per month
As with most “as of” financing offers, this is the basic model. At Jeep, it is the trim level, which is simply called “Avenger”, which takes on this role. Below is the list of the main standard equipment of the model in question:
- 16-inch steel wheels;
- Uconnect on 10.25-inch touchscreen with wireless Apple CarPlay and Android Auto;
- Automatic air conditioning;
- Autonomous emergency braking with pedestrian and cyclist detection.
Jeep offers three other levels of equipment above called “Longitude”, “Altitude” and “Summit”, three finishes that incorporate more standard equipment, but which, obviously, are more expensive and therefore considerably increase the monthly payments.
In general, for a basic model, the level of equipment is not really exceptional, but the essentials are there, like Apple CarPlay and Android Auto, essential in a car today, or even steel wheels and not just sheet metal wheels with hubcaps.
However, we would have liked to find the reversing radars or the 10.25-inch instrument panel as standard, but this equipment is optional or available with the top level finishes. The base color is quite nice as it is “Ruby Red”, and not a traditional white that looks more like a commercial car.
The car has a 54 kWh battery associated with an electric motor of 156 hp and 260 Nm of torque. the avenger claims a range of 408 km according to the WLTP cycle, and even up to 550 km in purely urban use. This propulsion system is new and little by little it is being installed in the 100% electric models of the Stellantis group, such as the Peugeot e-308.
What are the conditions to be eligible for the Jeep Avenger LLD offer?
This is a long term rental offer in 24 months and 10,000 kilometers per year, that is, 20,000 km in total. Jeep indicates that the offer of 199 euros per month is subject to a first income of 4,000 eurosafter an ecological bonus of 7,000 euros and a conversion bonus of 2,500 euros.
Be careful, because Jeep is playing with a small tax detail in this year 2023. The maximum ecological bonus has dropped to 5,000 euros at the beginning of 2023, but it can still be 7,000 euros under certain tax conditions. In fact, the bonus can reach 7,000 euros (within the limit of 27% of the purchase price) for households. with a unitary tax base of less than 14,089 euros. In other words, he didn’t worry most buyers.
Another condition to meet is the conversion bonus. To qualify for this bonus, you have to scrap an old diesel or gasoline model. The junked old vehicle must be a car or van with a gross vehicle weight of no more than 3,500 kg. The date of the first registration must be before 2011 for diesel and before 2006 for gasoline.
The vehicle must have belonged to the beneficiary for at least one year, while the reference tax unit income indicated in the previous year’s income tax notice must be less than or equal to €13,489.
How much will the Jeep Avenger LLD cost you?
For a two-year long-term lease, your all-electric Jeep Avenger will cost you €8,776. Jeep shows his car from €36,500 an ecological bonus of 7,000 euros and a conversion bonus of 2,500 euros are not discounted on his site. Always keeping in mind that you are entering the appropriate tax regime. Thus, after deducting all the aid, we arrive at a price of €27,000.
From this price, you will pay during the two years of rent 32.5% of the price of your car. This is more or less the two-year discount for this type of car, especially for electric cars where demand continues to increase, which implies some price stability. Since the offer is not an LOA, there is no option to repurchase the vehicle. Therefore, it will be necessary to return the car at the end of the financing..
Be careful with the repair costs, these can be high at the time of return. We advise you to do it before in a bodybuilder, it will cost you less than in your dealer in general. If you take a vehicle to your dealer after your LLD, you’ll also be a little less careful about the costs of repairs.
Should we favor LLD or a classic credit?
Few new cars are bought today without any means of financing, through one of the captives attached to the manufacturer, or through its own banking establishment. And precisely, between the LOA and LLD offered by manufacturers and a classic credit that you can find at the bank, which product is the most interesting?
Although the rates have increased in recent months, they are still quite attractive, especially if you buy an electric car. For example, Crédit Agricole, thanks to the “Green Vehicle Loan” and its APR at 1.50% for 24 months and without management fees, there is a way to get more attractive monthly installments compared to a conventional car loan.
So by financing €23,000 (ecological bonus of 7,000 euros, conversion bonus and fee of 4,000 euros discounted), even in 24 months, we reached monthly payments of €973.28, Uninsured. The total amount due is €23,706.24the credit will have cost you €706.24.
Keep in mind that Crédit Agricole is not the only bank that offers this type of loan for electric cars. For example, at the national level, the CIC offers a rate of 2.75% for financing a zero-emission car.
things to remember
From a financial point of view, conventional credit in a bank is not the best solution, at least in the short term, since monthly payments are much higher compared to the LLD offered by Jeep. On the other hand, with a bank loan it is possible to adjust the duration of the financing to reduce the monthly installments. For example, when going from 24 to 48 months, the rents drop to about 490 euros.
But why is there such a big difference? This is explained by the fact that with a conventional loan, you finance the whole car and, after 24 months, this belongs to you, not to mention that you have no mileage limit. In LLD you only pay for a part of the car and at the end of the two years you have to return the car and pay a fee if you exceed the mileage limit.
| jeep avenger | LLD | bank credit |
|---|---|---|
| Bring | €4,000 | €4,000 |
| max mileage | 20,000 km | Unlimited |
| Duration | 24 months | 24 months |
| Monthly payments | 199 euro | €973.28 |
| financing cost | – | €706.24 |
| Total cost | €8,776 | €23,706.24 |
Even if the totality of the monthly payments corresponds globally to the natural discount of a car, the The LLD solution is interesting only if you want to change cars regularly, without bothering with reselling. Let us also remember that in LLD, maintenance and warranty are included throughout the duration of the financing. With a classic credit, the guarantee is the basic one, that is, two years.
The LLD is interesting if you really do not have visibility on the second-hand price of your car and you already know that you are going to resell it. With this type of financing, you know in advance the total cost of ownership of your car. On the other hand, cash or credit, you cannot know this price, since it will depend on the resale value.
With respect to this LLD, however, it requires conditions that are difficult to combine, in particular with the maximum bonus subject to income conditions or the conversion bonus. In addition, the 4,000 euros of contribution claimed, although the monthly payments are quite low, are indigestible for a LLD of only two years. Most manufacturers are now offering free deals on their electric cars by including the bonus right on them.
Between the consumptions observed in real life, those published by the WLTP approval cycle or even those announced by the manufacturer, there is sometimes a world. We’ll try to see a little…
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