SUV Lease Deals Taking On the RAV4: Model Y at $499 and Grand Cherokee at $417 a Month

CarBuzz rounded up October 2026 lease deals positioned against the Toyota RAV4, and two stand out on monthly payment alone. A Tesla Model Y leases at $499 a month for 36 months with $3,000 down, on a 2026 rear-wheel-drive model with a 10,000-mile annual limit, for qualified lessees. The caveat is real: Tesla’s incentives page still showed an August 24, 2026 expiration, so CarBuzz itself flagged uncertainty about whether the offer is still available — confirm before counting on it.

The steadier deal is the Jeep Grand Cherokee at $417 a month for 42 months, with $4,499 due at signing, on a 2026 Laredo X 4x2, open until November 2, 2026, also at 10,000 miles a year for qualified lessees. Leasing a $41,415 SUV at $417 a month is strong value by any measure, and buyers who prefer to purchase can claim 0% APR for up to 36 months instead.

The broader lesson is about depreciation, especially for EVs. CarBuzz notes that a 2021 Model Y now trends at just $24,576 in its price-tracking tool, with lease turn-ins driving used prices down — which is precisely why leasing an EV, rather than buying one outright, appeals to buyers who do not want to carry that depreciation themselves. For RAV4 shoppers, the comparison is not just monthly payment: it is payment plus fuel or charging costs, mileage limits, and what the car will be worth when the lease ends.