Cheapest New Jeep SUVs For Under $40,000

SUVs continue to be a popular choice among buyers in today’s car market. From families who need a practical and safe vehicle, to adventurous customers who desire something with a decent amount of off-road capability, one brand that offers a great selection within its lineup is none other than Jeep. The American brand continues to offer an SUV-dedicated lineup to this day, and with a budget of under $40,000 in consideration, there are plenty of options for those looking for a path into the Jeep lifestyle.

We have compiled a list of the cheapest Jeep models you can buy new, priced below $40,000. The list starts with the most expensive Jeep model and ends with the cheapest Jeep that is available new today. Do note that the prices shown are the MSRPs, which exclude additional fees such as the destination fee, applicable taxes, title, optional extras, and dealer charges.

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2024 Jeep Grand Cherokee Laredo A – $36,495

At the top of the list, and closest to the $40,000 price point, is the Jeep Grand Cherokee Laredo A. Only available with 4×2 and in two-row guise, it’s the cheapest Grand Cherokee you can buy, and over $40k less expensive than the range-topping Grand Cherokee Summit Reserve.

Standard equipment on the Laredo A includes a 3.6L Pentastar V6 paired with an eight-speed automatic transmission that exclusively sends power to the rear wheels. Also included is an 8.4-inch multitouch Uconnect 5 infotainment system with Apple CarPlay/Android Auto connectivity and a six-speaker stereo system. The rather plain 17-inch aluminum alloy wheels give away the Laredo A’s entry-level positioning somewhat, but it’s still a handsome SUV. Families will also appreciate the amount of safety equipment featured as standard – including adaptive cruise control (with a stop and go function), forward collision warning plus, blind spot/cross path detection, and trailer sway damping.

For those who desire a 2024 Grand Cherokee with third-row seating, the cheapest Grand Cherokee with three rows as standard is the Grand Cherokee L Laredo 4×2, which will cost an additional $3,540.

5

2023 Jeep Cherokee Altitude Lux – $37,695

Placed below the Grand Cherokee in Jeep’s lineup, the Cherokee Altitude Lux 4×4 is also within the same price range. This crossover SUV model distills the Grand Cherokee’s styling in a smaller package to rival other crossovers in its class, such as the Volkswagen Tiguan and Kia Sportage.

Powered by a 2.4L Tigershark ‘MultiAir’ four-cylinder engine and paired with a nine-speed automatic transmission, the Cherokee Altitude Lux 4×4 comes with four-wheel drive as standard. Also included are 17-inch Gloss Black wheels, a power liftgate, remote start with push-button keyless ignition, and premium leather seats.

Note that the Cherokee has ended production since the 2023 model year – due to Stellantis shutting down the production plant in Belvidere, Illinois that played host to the Cherokee’s production line. Therefore, the Cherokee – in either Altitude Lux or Trailhawk form, is only available while stock supplies last. Jeep did, however, confirm to us that the Cherokee will live on.

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4

2024 Jeep Wrangler 4-Door Sport – $36,595

Keeping to the classic Jeep body style, the 2024 Wrangler 4-Door Sport is within the $40,000 price range to please fans of the iconic ‘boxy’ Jeep exterior, but with the added practicality of four doors and more rear legroom.

The four-door Wrangler Sport comes with a 3.6L V6 paired with a six-speed manual transmission – a combination rare to come by among new cars within this price range. Standard equipment also includes the Uconnect 5 infotainment system with a 12.3-inch touchscreen, including hands-free Bluetooth phone and audio functionality. This cheapest four-door Wrangler also gets push-butt start, and for off-road use, the Command-Trac part-time four-wheel-drive system.

A manually-operated black soft top roof allows for open-top driving at the driver’s discretion, and just like preceding Wrangler models, all four doors can be fully removed for added style and a full fresh-air driving experience.

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2024 Jeep Wrangler 2-Door Sport – $31,995

The 2-Door Jeep Wrangler is the original Jeep recipe that made it a pop culture icon and celebrity favorite back in the 1980s. It’s a two-door, compact off-roader that is perfectly sized to cruise city streets and traverse rough terrain, as well as offering unlimited customization and personalization options. Once more, it also meets the sub-$40,000 price point criteria – priced just below the four-door Wrangler.

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The two-door Wrangler Sport comes equipped with the same powertrain combination as its larger sibling: a 3.6L V6 and a 6-speed manual transmission. Standard equipment also remains largely the same. In addition, keeping with Wrangler tradition, the side doors are also removable altogether for added style and functionality.

The manually-operated soft top roof also comes included as standard, but for those seeking additional security, Jeep offers a fixed hardtop roof as a $1,695 optional extra.

2

2023 Jeep Renegade Latitude – $27,850

The smallest Jeep model currently on sale is also available at the lower end of the sub-$40,000 price range. The Renegade Latitude 4×4 comes equipped with a 1.3L turbocharged inline-four cylinder engine, mated to a nine-speed automatic transmission. The Latitude also has Jeep’s Selec-Terrain traction management system, automatic dual-zone temperature control, and a five-year subscription to Sirius XM Traffic Plus and Travel Link.

To bring the Renegade’s rugged character out even more, you can upgrade to the Renegade Trailhawk trim for an additional $4,120 – this will add off-road themed features such as a Rock Mode to the Selec-Terrain system, 17-inch Glossy Black diamond-cut wheels, and Trailhawk-exclusive exterior details.

Additional packages on top, like the Trailhawk Elite Group package for $1,545, will add even more interior amenities – including heated front seats, a heated steering wheel, as well as premium leather upholstery.

1

2024 Jeep Compass Sport – $25,900

Available at an MSRP of $25,900, the Compass is Jeep’s cheapest model. It’s positioned above the Renegade and below the Cherokee, and is a very accessible option for prospective Jeep customers. In Sport trim, the Compass features a 2.0L turbocharged inline-four-cylinder engine, with an eight-speed automatic transmission. Unlike some of the other Jeep models previously mentioned, the Compass sends its power primarily to the front wheels, but can also distribute its power to all four wheels depending on the road conditions.

The Compass Sport 4×4 still boasts plenty of standard equipment, including 17-inch alloy wheels and remote keyless entry. In addition, a lot of useful safety features come equipped with the Compass Sport. These include drowsy driver detection to ensure drivers remain attentive at the wheel, daytime running lights, active lane management, and for added convenience when driving on inclines, hill-start assist.