Price Of 2024 Jeep Cherokee Latitude: A Comprehensive Guide to Understanding its (Non-Existent) Value
Price Of 2024 Jeep Cherokee Latitude: A Comprehensive Guide to Understanding its (Non-Existent) Value jeeps.truckstrend.com
The quest for a new vehicle often begins with a specific model and trim level in mind, followed by the crucial question: "What’s the price?" For those diligently researching the "Price Of 2024 Jeep Cherokee Latitude," this article aims to provide a comprehensive, albeit unconventional, answer. While the desire to understand the cost of this particular model year and trim is entirely understandable, it’s essential to begin with a fundamental clarification: the 2024 Jeep Cherokee Latitude does not exist.
Jeep concluded production of the Cherokee line with the 2023 model year, making any inquiry into a 2024 version a pursuit of something that was never manufactured. This critical piece of information is paramount for any prospective buyer, as it redirects the focus from speculative pricing to understanding the value of the last available models or exploring viable alternatives.
Price Of 2024 Jeep Cherokee Latitude: A Comprehensive Guide to Understanding its (Non-Existent) Value
This article will meticulously dissect the nuances surrounding the "Price Of 2024 Jeep Cherokee Latitude" by first clarifying its non-existence, then delving into the pricing and characteristics of the last produced model – the 2023 Jeep Cherokee Latitude. We will explore factors that influenced its price, what buyers received for their money, and practical advice for navigating the market for a discontinued model or its contemporaries.
The Elephant in the Showroom: Why There’s No 2024 Jeep Cherokee Latitude
To fully grasp the "Price Of 2024 Jeep Cherokee Latitude," one must first understand why such a price is unobtainable. In February 2023, Stellantis (Jeep’s parent company) confirmed the end of production for the Jeep Cherokee at its Belvidere Assembly Plant in Illinois. The final 2023 model year vehicles rolled off the line, marking the conclusion of a significant chapter for the iconic SUV.
This decision was part of a broader strategic shift within Stellantis, focusing on retooling plants for future electric vehicle production and streamlining their portfolio. While the Cherokee had been a staple in Jeep’s lineup for decades, newer models like the Compass, Renegade, and the more premium Grand Cherokee (which continues to be produced) have increasingly filled its niche, alongside a strong push towards electrification.
Therefore, any search for a "2024 Jeep Cherokee Latitude" price will yield no official MSRP, no new car reviews for that model year, and certainly no inventory on dealer lots as a brand-new vehicle. This crucial distinction shifts the discussion from a future product to a historical one, or to the realm of the used car market.
Understanding the Last Known Price: The 2023 Jeep Cherokee Latitude
Since the 2024 model is non-existent, the most relevant information regarding the "Price Of 2024 Jeep Cherokee Latitude" comes from its immediate predecessor: the 2023 Jeep Cherokee Latitude. The Latitude trim typically served as the entry-level or near-entry-level option for the Cherokee, offering a balance of essential features and affordability.
For the 2023 model year, the Jeep Cherokee Latitude (often referred to as Latitude Lux, as Jeep consolidated trims) came with a manufacturer’s suggested retail price (MSRP) that positioned it as a competitive compact SUV. This MSRP represents the base price set by the manufacturer before any optional features, packages, destination charges, taxes, or dealer-specific fees.
Components of the 2023 Cherokee Latitude Price:
- Manufacturer’s Suggested Retail Price (MSRP): This is the foundational price for the vehicle’s base configuration. For the 2023 Latitude Lux, this typically started in the low to mid-$30,000 range.
- Destination Charge: A non-negotiable fee charged by the manufacturer to transport the vehicle from the assembly plant to the dealership. For the 2023 Cherokee, this was typically around $1,595.
- Optional Features & Packages: While the Latitude was an entry-level trim, buyers could add various options that would increase the final price. These might include:
- Upgraded Infotainment: Larger screens, navigation.
- Comfort/Convenience Group: Heated seats, heated steering wheel, power liftgate.
- Safety Features: Advanced driver-assistance systems (ADAS) not standard on the base model.
- Premium Paint Colors: Special metallic or pearl finishes.
- Sunroof: A panoramic or conventional sunroof.
- Engine Upgrades: While the Latitude often came with the base engine, some trims offered an optional turbocharged engine.
- Dealer-Installed Accessories: Floor mats, wheel locks, paint protection, etc., which are often added by the dealership and increase the price.
- Taxes, Registration, and Licensing Fees: These vary significantly by state and local jurisdiction and are added to the final sale price.
- Financing Costs: If purchasing with a loan, interest rates and loan terms will impact the total cost over time.
Understanding these components is crucial, as they illustrate that even for a "base" model like the Latitude, the "out-the-door" price can be significantly higher than the initial MSRP.
What the 2023 Jeep Cherokee Latitude Offered for Its Price
The appeal of the 2023 Jeep Cherokee Latitude (Lux) stemmed from its combination of Jeep’s rugged reputation with a more accessible price point. For its MSRP, buyers typically received:
- Engine: Standard 2.4-liter Tigershark MultiAir 2 four-cylinder engine (180 horsepower, 171 lb-ft of torque) paired with a 9-speed automatic transmission. This engine provided adequate power for daily driving and reasonable fuel economy for its class.
- Drivetrain: Front-wheel drive (FWD) was standard, with Jeep’s Active Drive I 4×4 system available as an option, providing enhanced capability in various weather conditions and light off-road scenarios.
- Infotainment: Uconnect 4 system with an 8.4-inch touchscreen, Apple CarPlay, and Android Auto integration. This was a significant upgrade from previous base models and offered modern connectivity.
- Interior Comfort: Cloth upholstery, dual-zone automatic climate control, a 6-way manual driver’s seat, and generally comfortable seating for five. The Latitude Lux added Nappa leather-trimmed seats, heated front seats, and a heated steering wheel.
- Safety Features: Standard safety features included a ParkView rear backup camera and basic airbags. Higher trims or optional packages offered more advanced safety tech like Blind-Spot Monitoring with Rear Cross-Path Detection, Full-Speed Forward Collision Warning with Active Braking, LaneSense Lane Departure Warning, and Adaptive Cruise Control.
- Exterior: 17-inch or 18-inch alloy wheels, automatic headlamps, and generally a classic Jeep aesthetic, albeit less aggressive than the Trailhawk trim.
The Latitude trim aimed to be a practical, comfortable, and connected compact SUV that could handle both urban commutes and light adventurous excursions, embodying the spirit of Jeep without the higher cost of the more off-road-oriented trims.
Key Factors Influencing the Actual Purchase Price of a (Discontinued) Model
Even though the 2024 model doesn’t exist, and new 2023 models are now residual stock, several factors influence the actual price someone might pay for a remaining new 2023 Jeep Cherokee Latitude or a used one:
- Remaining New Inventory: Dealers with unsold 2023 models might be more willing to negotiate on price to clear inventory. Conversely, if very few remain, scarcity could drive the price up for specific configurations.
- Dealer Incentives & Rebates: As a discontinued model, manufacturers or dealers might offer attractive incentives (cash back, low APR financing) to move remaining units. This is less common as time passes, but worth checking.
- Used Market Value: For pre-owned 2023 models or older Cherokees, the price is dictated by:
- Mileage and Condition: Lower mileage and excellent condition command higher prices.
- Trim Level and Features: Latitude models with desirable optional packages will be more valuable.
- Accident History: Clean CarFax reports are preferred.
- Local Market Demand: Prices can vary regionally based on demand for compact SUVs and 4×4 vehicles.
- Negotiation Skills: Regardless of whether it’s a new or used model, a buyer’s ability to negotiate effectively can significantly impact the final price.
- Time of Year: Deals might be more prevalent at the end of a sales quarter or year as dealers try to meet targets.
- Economic Conditions: Inflation, interest rates, and overall consumer confidence can influence vehicle pricing.
Practical Advice for Prospective Buyers
For those still interested in acquiring a Jeep Cherokee, given the non-existence of the 2024 model and the limited availability of new 2023s, here’s practical advice:
- Focus on 2023 Models (New or Used): Your best bet for a "new" Cherokee is to find remaining 2023 stock at dealerships. Utilize online inventory searches and contact multiple dealers. If new isn’t available, the used market for 2023 and earlier model years is your next step.
- Research Thoroughly: For used models, always get a vehicle history report (e.g., CarFax or AutoCheck). Have a pre-purchase inspection done by an independent mechanic.
- Understand Depreciation: As a discontinued model, the Cherokee’s depreciation curve might be slightly different. While initial depreciation is rapid for any new car, the "collectibility" factor is unlikely for a mass-produced SUV. Its value will largely be dictated by its utility as a used vehicle.
- Consider Alternatives: If a Jeep Cherokee isn’t available or suitable, explore current compact SUVs with similar characteristics:
- Jeep Compass: Smaller, but shares some design cues and offers similar off-road capability in Trailhawk trim.
- Jeep Renegade: Even smaller, more quirky, also offers Trailhawk.
- Honda CR-V, Toyota RAV4, Subaru Forester, Mazda CX-5: These are popular, reliable compact SUVs, though generally less off-road oriented (except for specific Forester trims).
- Ford Bronco Sport: Offers similar rugged aesthetics and off-road capability.
- Factor in Long-Term Costs: Beyond the purchase price, consider fuel efficiency, insurance costs, and routine maintenance for any vehicle you buy.
Estimated Pricing for the 2023 Jeep Cherokee Latitude (as the Closest Reference)
Since a 2024 model does not exist, the table below provides an estimated breakdown of the pricing for the 2023 Jeep Cherokee Latitude Lux, which was the most direct equivalent to what a "Latitude" trim would have been. Please note these are estimates and actual prices for remaining new stock or used models will vary.
| Component / Category | Estimated Price (USD) | Notes |
|---|---|---|
| Base MSRP (2023 Latitude Lux FWD) | $33,095 | Manufacturer’s Suggested Retail Price for the front-wheel drive model. |
| Base MSRP (2023 Latitude Lux 4×4) | $34,595 | Manufacturer’s Suggested Retail Price for the 4×4 model. |
| Destination Charge | $1,595 | Non-negotiable fee for shipping from factory to dealer. |
| Common Optional Packages/Features: | ||
| Comfort/Convenience Group | $1,000 – $2,000 | Includes power liftgate, universal garage door opener, etc. |
| Sunroof (Panoramic) | $1,500 – $2,000 | Adds an open-air experience. |
| Technology Group | $1,000 – $1,500 | Advanced safety features (if not standard on Latitude Lux). |
| Premium Paint Colors | $395 – $595 | Special metallic or pearl finishes. |
| Estimated Total (without Tax/Reg) | $34,690 – $40,785+ | This range covers base FWD to 4×4 with common options and destination. |
| Taxes, Registration, & Fees | Varies by State/Locality | Typically 5-10% of the purchase price. |
| Dealer Fees | Varies by Dealer | Documentation fees, processing fees (can be a few hundred dollars). |
Important Note: For any remaining new 2023 models, dealers may offer discounts or have already applied incentives to these prices to move them off the lot. For used models, prices will be lower and depend heavily on mileage, condition, and market demand.
Frequently Asked Questions (FAQ) about the Price Of 2024 Jeep Cherokee Latitude
Q1: Is there a 2024 Jeep Cherokee Latitude?
A: No. Jeep discontinued the Cherokee line after the 2023 model year. There will be no new 2024 Jeep Cherokee Latitude or any other Cherokee trim.
Q2: When was the last Jeep Cherokee produced?
A: The last Jeep Cherokee models were produced in early 2023, designated as 2023 model year vehicles.
Q3: What was the starting price of the 2023 Jeep Cherokee Latitude?
A: The 2023 Jeep Cherokee Latitude Lux (the closest equivalent trim) had a starting MSRP of approximately $33,095 for the FWD model and $34,595 for the 4×4 model, excluding destination charges and optional features.
Q4: Where can I find a "new" 2023 Jeep Cherokee Latitude?
A: Your best chance is to contact Jeep dealerships directly to inquire about any remaining new 2023 inventory. As time passes, these will become increasingly rare. Most available Cherokees will now be found on the used car market.
Q5: What are good alternatives to the Jeep Cherokee if I can’t find a 2024 model?
A: Excellent alternatives include other Jeep models like the Compass or Grand Cherokee, or competitors such as the Honda CR-V, Toyota RAV4, Subaru Forester, Mazda CX-5, and Ford Bronco Sport, depending on your priorities (off-road capability, cargo space, fuel economy, etc.).
Q6: Does the discontinuation of the Jeep Cherokee affect its resale value?
A: The long-term impact on resale value is mixed. While discontinuation can sometimes lead to faster depreciation due to parts concerns (though common parts will be available for years), for a popular model like the Cherokee, strong demand for reliable used SUVs could help stabilize values. However, it will likely not appreciate.
Q7: Can I still get parts and service for a discontinued Jeep Cherokee?
A: Yes, absolutely. Manufacturers are legally required to provide parts for a certain number of years after a vehicle is discontinued. Jeep dealerships and independent mechanics will continue to service Cherokee models for many years to come.
Conclusion
The phrase "Price Of 2024 Jeep Cherokee Latitude" serves as a poignant reminder of how quickly the automotive landscape can change. While the desired 2024 model year does not exist, understanding why it doesn’t exist is crucial. The true value exploration lies in examining the 2023 Jeep Cherokee Latitude, the last iteration of a long-standing nameplate.
The 2023 Cherokee Latitude Lux offered a compelling package for its price, blending everyday practicality with the signature Jeep spirit. For those still drawn to this vehicle, the focus must shift to the remaining new 2023 inventory or the robust used car market. By understanding the original pricing structure, considering the various factors that influence actual transaction prices, and being prepared to explore suitable alternatives, prospective buyers can still make an informed decision that aligns with their needs and budget, even for a model that has gracefully exited the production line.
